September 18, 2020
Enterprise Asset Management (EAM) has sometimes been an industry of contradictions. Sensor technologies and the ability to gather more data than ever have become commonplace--yet in some industries, there is stagnation in digitizing and automating maintenance operations. If you are feeling stuck in making the next move, you're not alone. One of the most common questions we hear from CIOs and maintenance professionals is how to get from vision to execution.
An IDC MarketScape report—Worldwide SaaS and Cloud Enabled Asset-Intensive EAM Applications 2019 Vendor Assessment—outlines the market forces that are placing higher expectations on EAM solutions and the organizations they support. Most notable is the need for more careful tracking and analysis of real-time equipment data in order to better inform capital investments. It’s a critical next move for asset-intensive industries such as transportation, utilities, oil & gas, public sector, and manufacturing that want to remain competitive.
Having visibility into equipment performance and lifecycles makes business continuity planning much more accurate and effective. Using transportation as an example, organizations are focusing on how their asset management translates to user experience and satisfaction with service, which means proactively eliminating disruptions in service.
As the report says, “DX (digital transformation) is driving businesses to rethink their technology strategy, and that includes moving beyond their legacy finance and back-office systems.” It goes on to say that DX businesses have a repeatable set of practices and disciplines used to leverage new business, 3rd Platform technology, and operating models to disrupt businesses, customers, and markets in pursuit of business performance and growth.
The report focuses specifically on SaaS and cloud-enabled systems. Why? Because SaaS and cloud are the most scalable solutions that can help asset-intensive businesses keep up with this rapid data and digital evolution, without putting burdensome demands on staff and resources. Cloud solutions also help organizations better adhere to the changing regulatory landscape. Moving to the cloud is the next step for many organizations; they can take advantage of cost and time savings that will free them up to focus on strategic changes that create more customer value.
The IDC report named Infor a leader in the SaaS and cloud-enabled category. It cited Infor EAM as a solution that delivers:
- all of the tools needed to help customers solve critical asset performance challenges
- a highly configurable solution with industry-specific capabilities for various industries such as transit, manufacturing, utilities, public sector, hospitality, healthcare, and oil and gas
- native mobile applications to help capture accurate maintenance information in real time
It noted Infor’s strengths in multitenant (SaaS) deployment, which allows Infor to provide a continuous delivery model that ensures all SaaS customers have the latest upgrades and releases. Deployed in the cloud, Infor EAM enables asset-intensive industries to embrace mobile efficiencies as well. Its mobile applications are built and embedded as standard tools to ensure no lag time, rather than resorting to third-party apps where syncing issues can result in costly, unplanned downtime.