Check Out These Top 10 Benefits of Digital Asset Management Software

Check Out These Top 10 Benefits of Digital Asset Management Software

Quality and delivery within deadlines are the two pillars of success for any organization. Your profits are directly linked to the productivity of two invaluable assets, your employees and equipment. It’s hardly surprising that proper equipment maintenance is the backbone of any organization’s success.

There are wider implications of asset maintenance like employee safety and adherence to regulations for avoiding penalties. An effective maintenance solution is digit asset management software that is easy to operate, customized to your operational structure, and helps you maximize your ROI.

Let us find out the benefits of computerized asset management software for your organization. 

Top 10 Benefits Of Asset Management Software

An analysis of your current organizational challenges is required before you invest in maintenance software. This will help you get the best out of the software. Here are the top 10 benefits of using software:

Maximizing Uptime

The higher the uptime, the higher the productivity of your equipment. Uptime depends on the health of your asset. If your asset is in peak health, then you experience the highest uptime and enjoy smooth production flow leading to higher profits.

You have the option of preventive maintenance or predictive maintenance. While both ensure higher uptime, there is a difference in approach. With preventive maintenance, upkeep is carried out as per a schedule whether the equipment needs it or not.

Predictive maintenance feels the pulse of the machine with real-time data from the machine through sensors. This eliminates the need for shutting down equipment for maintenance resulting in downtime. You can perform predictive maintenance while the equipment is running. 

Preventive maintenance is better than reactive or unplanned maintenance that not only causes downtime but causes equipment damage. 

Higher OEE

To ensure that you achieve overall equipment effectiveness or OEE, you need to address multiple factors. These factors include root cause analysis and critical spares strategy.

OEE covers preventive maintenance under which equipment is inspected for condition issues and proper lubrication. Safety and quality standards are maintained through regular testing and examination of assets.

The status of spare parts inventory is updated in real-time to prevent any production outages leading to missing delivery deadlines. The condition of each asset is then classified into repair or replacement grade using color coding for higher operational efficiency. With OEE, you have higher output and profits.

Best-In-Class Maintenance

With maintenance management software, it is possible to create soft copies of user manuals. This reduces the incidence of human error since there is a step-by-step documentation of repairs on every asset. There is a standard quality of repair and it is done in the least possible time regardless of the technician. 

Data on past failures of particular equipment is also recorded in the software facilitating the easier resolution of problems. Since the software is mobile-friendly, technicians can refer to the user manual easily during repairs. 

Digital maintenance software allows you to shift from reactive to preventive and finally predictive maintenance so that you benefit from the longest equipment life and lowest operational cost. 

Better Compliance

With computerized maintenance software, it is easier to comply with regulatory standards at the national and international levels. All measures required for ensuring the safety of equipment and employees are taken based on previous events like accidents, inspections, or emissions that are recorded in the software. All reports relating to the maintenance of equipment can be generated so that there are no penalties for non-compliance. 

It is easier to access information required for audits or inspections. You save time required for audit preparation since follow-up action taken post earlier audits are also recorded in the software. 

Paperless Work Orders

The conventional method of using paper work orders led to unnecessary delays. The software eliminates this hassle by allowing employees to raise work orders through their mobile devices. Employees can send pictures or supporting documentation along with the work orders for the action of technicians. 

The approved work order is then assigned to the right technician who accesses all information regarding the equipment including the user manual, previous repairs, or Lockout/Tagout procedures. There is faster processing of the work order and progress can be tracked in real-time. 

Workplace Safety

Employee safety is a top priority for organizations and you need to provide a safe work environment including safety equipment. You can maintain safety standards since the software provides event tracking, safe work practices, and documented process safety information. 

The complete audit history for each piece of equipment is available in the software including follow-up action taken. This reduces the chances of equipment failure that could compromise employee safety. 

Safe work practices include personal protective equipment, permits required, and work procedures, and these are mentioned in every work order. 

Optimal Inventory Management

To perform at peak levels, spare parts for equipment must be available on time during repairs. The software integrates production requirements and spare parts inventory to ensure no emergency requisitions that not only lead to production outages but also budget deviations. 

Regular inventory analysis is done to remove obsolete items and stock spares based on usage patterns and projected requirements. Using techniques like cycle counting and bin management, the software assists you in keeping a tab on spare parts inventory.

Streamlined Workflow

The software ensures that the maintenance process is streamlined. The data required by the technicians to perform their tasks like meter reading updates, inspection points, screenshots of the problem, and spare parts issues are provided by the software simplifying their work and ensuring higher accuracy and efficiency. 

The employees and technicians can access this data through their mobile devices, so both raising and execution of work orders can be done seamlessly.

Lower Overtime

Without a predictive maintenance system in place, there are dual costs of equipment downtime and employee overtime. Whether it is equipment failure or production outage due to non-availability of spare parts, your employees will need to work overtime adding to your operational overheads.

With digital maintenance software, the equipment repairs and replacement take place on time, and this lowers downtime and employee overtime.

Improved Strategic Decisions

A CMMS software provides the required MIS information needed to take long-term strategic decisions. You get the required KPIs on a single screen and it’s easier for you to take corrective action.

Final Thoughts

The key to profitability is ensuring that both your employees and equipment are working at their optimal capacity. Digital maintenance software is the solution to both these challenges. Timely repairs and replacement ensure minimal downtime costs and access to asset information through mobile devices ensures the highest employee efficiency.

Invest in the right software for higher profits.

Share this post

Post Comment