Track All Your Fixed Assets in One Accurate Database
Avoid misplaced, underused, and degraded assets by tracking all your fixed assets in one accurate database. ARCHIBUS Enterprise Asset Management (EAM) is an application designed to maximize asset value by optimizing asset distribution, usage, and maintenance.
EAM provides different stakeholders and departments with a common system for collecting, updating, and coordinating asset data. EAM is designed to support daily operations and strategic planning, so you can create a responsive strategy that supports your goals.
One Accurate Data Source
Consolidate from many sources into one accurate platform. Accurate data means data that is complete as well as updated, and the ARCHIBUS Mobile Framework expedites this by letting field personnel update information directly from their worksite. Accuracy also means accountability. EAM lets you assign assets and relevant data to responsible personnel, and track chain of custody to ensure accountability.
Connect Stakeholders to a 360 View of Assets
Link asset management to workflow, financial analysis, and compliance. View assets from multiple perspectives to instantly track location, chain of custody, condition, usage and financial information.
React in the Short-Term, Plan for the Long-Term
In the short-term, empower departments to seamlessly coordinate how they share, use and maintain assets. In the long-term, create a plan that aligns your capital asset and maintenance budget with your business processes and goals. Optimize for every stage of the asset lifecycle.
The Risk of an Incomplete Asset Management Strategy
Tracking Assets is Challenging
As organizations grow, it becomes increasingly difficult to track all of the information surrounding fixed assets. Asset data is often fragmented in different departments and systems, and inconsistently updated. That is because assets change custody and deteriorate at different rates, or are forgotten when they move from high to low-priority. This makes them difficult to locate, let alone maintain.
It’s estimated that 65% of fixed asset data is incomplete, inaccurate or missing, while 10-30% of fixed assets are no longer owned by the company that originally bought them.
Tracking Assets is Essential
Any organization’s ability to carry out its respective mission relies on the proper functioning, maintenance, acquisition, and distribution of essential assets like properties, buildings, furniture and equipment. On average, these assets make up about a third of an organization’s budget. Functionality and productivity depend on ensuring that teams have the assets they need, when they need them.
Failure to manage assets effectively puts organizations at risk on multiple fronts:
- Untracked assets can drain resources through lost equipment or furniture, unnecessary replacement purchases, and accelerated deterioration due to poor maintenance.
- Lack of institutional knowledge on the condition and utilization of assets can lead to inefficient use and premature asset expiration.
- Poorly maintained assets are liabilities to health and safety compliance as well as environmental compliance.
- Asset deficiencies create a drag on productivity. Failure to give teams the assets they need, when they need them, affects both productivity and talent retention.
Connect Stakeholders to a 360 View of Their Assets
While your assets are integral to every aspect of your organization, interest in those assets is different across different roles. A financial officer may be interested in cost data, a maintenance worker might be curious about previous repairs, whereas human resources may just need to find a spare desk for a new hire.
Previously, this information has either been fragmented across departments, incomplete, or inaccurately reported, making it difficult for departments to communicate about common resources. EAM unites everyone around a common database where they can access the information that is most relevant to their role.
The true value of an asset requires not just cost data, but all of the above for an organization to determine which courses of action to take with different assets. With EAM, different departments can understand assets from multiple perspectives, and align asset and project objectives with a single integrated strategy.
EAM provides relevant asset information including:
- Usage data
- Cost data (replacement, repair, disposal)
- KPI metrics
- Compliance data
- History (Chain of custody, maintenance projects)
Make a Strategic Asset Management Plan
EAM allows you to create an effective asset strategy for every stage of the asset lifecycle
Top Down Planning
Plan a budget that accurately reflects your projected needs and resources going forward. Plan your short and long-term spending based on where it is needed most. EAM provides a granular top-down view of your assets, generating comprehensive reports that inform your strategy with key performance indicators. Stay on top of trends, project stats for different asset scenarios, and automatically flag areas that require attention.
Connect every site, department, and team to a complete overview of resources, so that needs can be met by redistributing spare or underused assets.
Understand assets from a utilization perspective to understand asset/resource allocation from a data-driven point of view, and develop a preventive maintenance strategy that limits wear and tear and extends useful life.
Responsive Mobile Maintenance
Identify, coordinate, and respond to maintenance demands through a platform that can be updated from anywhere, using a mobile framework. Reduce the response time for maintenance requests and take better care of assets so that they last longer and work better.
Carry your maintenance strategy through to the end of the asset lifecycle. Find a cost-effective disposal plan that adheres to your compliance needs, strategic asset management plan, and your enterprise goals.