IBM Maximo Application Suite: The Next Generation of Asset Management Solution for Enterprise

Asset Management Solution for Enterprise

has been applied by many businesses to easily control assets and improve work quality during their business operations. All enterprise-level organizations can use Asset Management Solutions. The asset-intensive industries like utilities, manufacturing, energy, and construction are where you’ll see them most frequently.

In businesses, asset management is not only the responsibility of an individual or a department but it will be influenced by many different individuals and departments. Once not managed specifically and closely, managers as well as those who perform the inventory can face difficulties, misalignment of expenditures, loss of assets, etc. Therefore, under the strong development of technology and advanced equipment, Asset Management Solution for Enterprise was born and brings great benefits to businesses.

In this article, we will cover Asset Management Solution for Enterprise so that you can better understand its useful features. And more importantly, Travellifez would like to introduce the IBM Maximo Application Suite, which is referred to as The Next Generation of Asset Management Solution for Enterprise. You’ll want to learn it right away!

What is Asset Management Solution for Enterprise?

Asset Management Solution for Enterprise, also known as Enterprise Asset Management (EAM for short). It is a solution that brings together software, systems and tools that enable companies to track and manage physical assets throughout their lifecycle.

Asset Management Solution for Enterprise includes job management, asset maintenance, planning/scheduling, supply chain management, costs, materials, tools and other information. This process improves the asset’s potential use and reduces the costs and risks involved for the owner.

What is Asset Management Solution for Enterprise?

With many superior features compared to traditional management, Asset Management Solution for Enterprise brings many benefits to businesses such as:

  • All data about assets is stored and managed in detail and clearly. Actively grasp the actual situation of each asset that the business owns. Data is updated continuously, specifically.
  • Property management data is synchronized. All individuals, departments, administrators and organizational leaders can track information on the same software.
  • The on-demand asset inventory has the ability to optimize in terms of time, without spending too much time, effort and cost but still well done with high accuracy.
  • Accurately determine the movement of assets in the office, building or at the factory, in the warehouse, …
  • Avoid the loss in the process of rotation or the difference in the data between statistics and actual assets.
  • Searching and looking up information about properties can be done simply and easily. The lookup for the actual requirements of the job is handled as well as requested.
  • Helps to understand specifically and accurately the time of depreciation, liquidation and repair, maintenance and maintenance costs related to assets.
  • Be proactive in planning asset acquisition, minimizing unwanted interruptions that negatively affect work efficiency.
  • Inventory and asset management operations are carried out with the help of labels, barcode equipment and software, both quickly, saving personnel, with high accuracy and transparency.
  • Support businesses to make necessary reports related to asset usage status.

Based on Gartner‘s Magic Quadrant report on EAM enterprise asset management products in 2018, the two names that are leading the EAM market are IBM and Infor. And in this article, we only talk about IBM Maximo Application Suite.

What is IBM Maximo Application Suite?

IBM Maximo Application Suite is a flexible and comprehensive software for Industry 4.0 that provides complete control over asset management and maintenance. It addresses the entire lifecycle of an asset to maximize its value, through the proper use and application of the most advanced technologies such as: artificial intelligence (AI), internet of things ( IoT), big data, cloud computing, etc. Thereby helping businesses have a more comprehensive view of current challenges and find optimal solutions.

This EAM relies on services, integrated mobile platforms, and state-of-the-art analytics. It even aligns naturally with the best practices and standards of organizations. Furthermore, IBM Maximo helps asset management leaders gain a more holistic view of today’s challenges and find optimal solutions. At the same time, it also helps them make smarter decisions in real time.

IBM Maximo Application Suite is an instance of a unified platform that enables asset performance management, their lifecycle, and end-to-end maintenance management. It provides you with simplified licensing and multi-cloud deployment. It is worth noting that IBM Maximo is ranked by Gartner as the leading solution today in the world’s Asset Management software.

Your teams can extend across the entire organization with enhanced access to CMMS, EAM, and asset performance management systems. This enables them to streamline operations and ensure ongoing operations even in the face of disruptive or rapidly changing circumstances.

How does IBM Maximo Application Suite help manage assets for Business?

The asset management features of the IBM Maximo Application Suite

  • Utilize industry-standard EAM, mobility, add-ons, and business models.
  • Asset management and all operational activities of assets such as maintenance, repair, replacement, …
  • Intuitive and customizable user interface. It gives you a 360° view of your work and results.
  • Streamline asset management procedures at many locations.
  • Use AI-powered monitoring, inspection, and predictive maintenance to increase reliability.
  • Integrate and connect with third parties. This helps companies maximize capital investment and optimize total costs.
  • Anomaly detection, failure factor prediction and end-of-life failure probability estimation.
  • Utilize simple licensing and usage with only the apps you require.
  • For greater flexibility, use a multimedia approach.

Benefits of Using IBM Maximo Asset Management Solution for Business

Fully web-based and the ability to work on mobile devices enhances mobility and work in the most efficient way. Increase efficiency and improve the ability to achieve business goals.

How does IBM Maximo Application Suite help manage assets for Business?

Provide a solid, secure and flexible platform to develop software applications based on Maximo’s technology platform (Maximo Framework) to meet all the complex administrative requirements of enterprises.

Meet the asset management model for corporations with many member units along with an independent or dependent asset management model. Encourage adherence to rules and standards set by the industry.

Flexibility with the ability to integrate with enterprise management solutions to become a total solution according to the enterprise’s governance model. To enhance operational performance, automate and optimize asset management and maintenance.

Provide total solutions from purchasing assets, equipment and spare parts, inventory management, along with import and export activities, to warranty and maintenance activities of assets. Optimize decision making throughout the asset’s lifecycle.

The notification system always reminds the user about the job based on the criteria set by the user. Enables maintenance policies based on condition, risk, and failure prediction.

The platform builds workflows to suit all business requirements with approving or rejecting jobs on the web, or mobile devices.

Consolidate asset management processes. Dramatically reduce unplanned downtime and costs. Enhance return on assets (ROA) and extend asset life.

Provides AI-driven remote monitoring and inspection.

Improve investment, replacement and operational budgeting planning.

Bottom Line

Asset management is always one of the most important tasks for every business. However, because the amount of information is too large and complex about many different types of assets, it has caused many difficulties for managers. Asset Management Solution for Enterprise was born to make this job easier and more efficient.

IBM Maximo Application Suite is a product that has been on the market for a long time, so its customer base is also quite high. Most of IBM’s existing users have upgraded the software to the latest version, proving that brand loyalty is still pretty good.

Overall, IBM Maximo Application Suite customers say they are quite satisfied with the overall efficiency, consulting team, available integrated resources, and good experience working with the vendor. Reliability, ease of integration and deployment also received high feedback and ratings. In addition, IBM is committed to the direction of hybrid cloud and AI development because businesses need a clear and reliable roadmap to fully modernize the system.

After what we’ve delivered, IBM Maximo Application Suite truly deserves to be the Next Generation of Asset Management Solution for Enterprise. How about you? Do you think so?

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