Best Enterprise Asset Management Software: 2024 Guide

The best enterprise asset management software of 2024
The best enterprise asset management software of 2024

Choosing the right Enterprise Asset Management (EAM) solution will be pivotal in managing assets in many industries, from manufacturing and energy to healthcare and hospitality. The ideal EAM solution should enhance operational oversight, control, and efficiency in several ways:

  1. Visibility and Control: An effective EAM system will provide organization-wide oversight to company stakeholders, enabling management of assets across all departments. 
  2. Streamlines Resource Allocation: EAM solutions integrate various systems to minimize supply chain inefficiencies, ensuring the timely availability of necessary supplies, labor, and resources.
  3. Maintenance Management: An effective EAM solution can instantly notify maintenance teams of unusual equipment failure patterns, allowing prompt intervention to avoid greater problems and potential equipment breakdowns.
  4. Automated Processes: Your EAM solution should automate maintenance tasks by automatically triggering relevant actions, tasks, and alerts for work orders.
  5. Downtime Reduction: These technologies should decrease equipment downtime by providing proactive and predictive maintenance capabilities.

While choosing an EAM system can seem like a straightforward process, choosing the right one from the myriad available options in the market can be challenging. 

This guide will review the best enterprise asset management software in 2024. We will start with LLumin’s Computerized Maintenance Management System (CMMS+), which offers many advanced features to meet diverse needs across several industries.

The Best EAM Solutions for Operational Excellence

While there are many EAM systems on the market, the ones described below are among the most popular and widely used across several sectors. Each solution has its own unique features and benefits tailored to suit specific operational demands and problems. However, we’ve honed in on core capabilities that are essential to compare, such as real-time monitoring, predictive maintenance (PdM), automation, interface customization, integration, mobile capabilities, and pricing. 

These EAM solutions include:

Best Enterprise Asset Management Software (2024)

Feature

LLumin CMMS+

IBM Maximo

Infor EAM

SAP EAM

AVEVA EAM

AssetWorks EAM

Real-time Asset Monitoring using IoT Data

Predictive Maintenance

X

Workflow Automation

Customizable Interface

X

X

X

X

Integration with Existing Systems

Mobile Capabilities

X

X

X

Pricing/month/user

$45+

$250+

$50+

Custom

Custom

$2,500 (one-time fee)

Customer Reviews (out of 5)

4.6

4.4

4.5

4.3

4.5

4.2

LLumin CMMS+

LLumin CMMS+ is distinguished by its all-encompassing approach to asset management. It features real-time monitoring of assets using IoT data, offers capabilities for predictive maintenance, and streamlines processes with effective workflow automation.

LLumin CMMS+’s customizable interface can adapt to the individual needs of organizations across several industries. It provides flexibility and on-the-go asset management with mobile capabilities. It’s a flexible, advanced, and user-friendly solution with extensive features, starting at $45 per month per user.

IBM Maximo

IBM Maximo is well-known for its comprehensive range of features. It is well matched for large enterprises that need complex asset management solutions. Maximo offers effective real-time monitoring and predictive maintenance capabilities. While it lacks a customizable interface and mobile-friendly features, it compensates with its workflow automation and solid system integration capabilities. Maximo’s basic license starts at $250 per user per month. 

Infor EAM

Infor EAM, now HxGN EAM by Hexagon, offers a SaaS-based asset management solution ideal for tracking assets across industries. Features include IoT data monitoring and predictive maintenance with flexible interfaces. Pricing starts at $50 per user per month.

SAP EAM

SAP EAM, a component of the SAP ERP suite, provides a robust solution known for its integration capabilities with other SAP systems. It provides advanced features like predictive maintenance and streamlined workflow automation. This EAM solution also lacks customizable interfaces and extensive mobile functionalities. Its main advantage centers on its effortless integration with other SAP modules.

AVEVA EAM

AVEVA EAM shows its strengths in sectors dependent on heavy assets, such as energy, utilities, and mining. The platform specializes in continuous monitoring of assets, predictive maintenance, and efficient management of mobile labor teams. Its notable feature is its ability to integrate with existing systems and infrastructure. AVEVA EAM offers a customized pricing approach.

AssetWorks EAM

AssetWorks EAM is tailored for government, education, and infrastructure sectors. It offers real-time asset monitoring and strong workflow automation. The solution is particularly user-friendly but doesn’t support predictive maintenance and lacks customizable interfaces. It is ideal for organizations prioritizing ease of use, asset tracking, and management. You can buy the software for a one-time purchase of $2,500.

Choosing the Best EAM Solution for Your Business

The main objective of any EAM solution is improving asset and maintenance management. Accomplishing this will boost operational efficiency and keep costs low. However, features will differ widely between solutions. So, choose wisely. 

Some EAM solutions excel at real-time monitoring and predictive maintenance, allowing organizations to address potential equipment issues before they occur. Others concentrate on non-machinery assets, providing tools for tracking and maintaining various asset types. 

What’s important to recognize is the level of visibility and control provided by your chosen EAM solution will have a significant impact on your organization’s ability to operate efficiently. 

Going further, several EAM solutions have limited capabilities or may be too narrowly focused, unable to integrate with a diverse range of machine types, asset classes, and operational infrastructures. Others may not be adaptable enough to support organizational needs that change over time.

Given these considerations, choosing a solution that meets your current needs and is flexible and advanced enough to grow with your company is key. The ideal solution should cover all aspects of asset management while also providing advanced features such as predictive maintenance, mobile capabilities, scalability, and ongoing customer support to assist your company in managing and maintaining assets well into the future.

Read our recently published

“How To Use CMMS Software To Achieve Operations Excellence” eBook:

Here

LLumin’s Advanced EAM Solution

LLumin’s CMMS+ software triggers maintenance tasks based on real-time data collected from machine-level sensors. This advanced feature can significantly improve operational efficiency, production schedules, and the working life of costly assets and machinery. LLumin is cloud-based, mobile-ready, customizable, and provides a fully integrated, enterprise-level EAM solution that can support the diverse needs of organizations across many industries.

“LLumin has enabled us to better manage over $350MM in assets. Our ability to quickly obtain a list of equipment that is sorted by location and work cell has been invaluable when providing analytics back to our field teams, enabling fact-based decision-making. 

We have auto-generated work orders that help us keep up with our warranty-dependent preventative maintenance schedules and have achieved more accountability with respect to the timing of requests and completion of work. The implementation of these new processes, reliant on LLumin as the enablement tool, has been an important shift for our organization and our ability to continuously improve. LLumin has been great to work with, and we look forward to a long partnership.

We chose LLumin’s CMMS+ for its ability to manage fleet/rolling stock and stationary plant assets. It enables us to catalog and visualize them in a way that aligns with our operations making it most relevant to our field teams that rely on the information. Additionally, it includes a workflow engine and dashboards that have helped us improve notification and communication of work in the queue, in progress, and completed.” 

—Director of Organizational Systems and Design, Ethanol Industry

LLumin’s advanced EAM software can provide several benefits to your organization, including:

  • Cost Reduction: LLumin can seamlessly integrate into your company’s supply chain and MES, enabling machine operation personnel to view maintenance schedules and create work requests.
  • Extend Machine Lifespan: Integration with existing systems provides maintenance teams with critical timing insights for machine maintenance, helping prevent costly repairs or replacements. It also alerts operators to abnormal machine readings, like high temperatures.
  • Operational Integration: The software alerts operators to machine issues, maintenance schedules, and changes in machine availability. It also makes communication between the operations and maintenance teams easier.
  • Team Management: LLumin can manage personnel, skills, and contractors, providing visibility into labor and skills requirements and supporting resources to meet work demands.
  • Adaptability: LLumin’s flexible CMMS+ solution allows for establishing rules for autonomous responses adaptable to changing company needs and supply chain changes.

While implementing a new software can raise concerns about support, deployment, and long-term success, LLumin provides white-glove and ongoing customer support. From installation to integration and rapid deployment with highly effective training and ongoing expert support, LLumin supports their end users every step of the way. 

LLumin’s CMMS+: The Best Enterprise Asset Management Software

Partnering with LLumin for your Enterprise Asset Management needs is more than just gaining access to top-tier software; it’s about experiencing the full spectrum of advanced EAM benefits from a leading software provider backed by unwavering customer support. LLumin is committed to ensuring your investment yields the best return, providing ongoing customer support tailored to your organization’s specific needs.

Because your time is valuable, LLumin has developed a streamlined Honed Implementation Process (HIP). This approach is designed to navigate and mitigate common integration, data initialization, and user adoption challenges. LLumin will collaborate closely with you at every stage, ensuring a seamless integration of your new EAM solution into your operations.

LLumin’s CMMS+ solution is highly customizable, allowing you to precisely tailor the solution to your operational needs. And the LLumin team will work with you to develop custom nomenclature, data structures, and dashboards tailored to your specific operational requirements.

Support doesn’t end with the initial setup. LLumin provides targeted, role-specific training to ensure successful and effective use of the system from day one. And as your business grows and evolves, so does your support. LLumin is designed to adapt and scale with changing organizational needs, ensuring that your asset management strategy remains effective, regardless of future challenges ahead.

Getting Started With LLumin

LLumin develops innovative CMMS software to manage and track assets for industrial plants, municipalities, utilities, fleets, and facilities. If you’d like to learn more about the total effective equipment performance KPI, we encourage you to schedule a free demo or contact the experts at LLumin to see how our CMMS+ software can help you reach maximum productivity and efficiency goals.

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