4 Must Have Criteria for Selecting a New Enterprise Asset Management software

Earier this week while in Dallas for the National Education Seminar sponsored by the National Property Management Association (NPMA), I shared my observations on the key challenges in implementing enterprise asset management systems.

I found this to be somewhat a unique problem in system implementation. While it has the usual challenges of implementing an enterprise system, such as ERP and HR, deploying an enterprise asset management system has the extra complication of dealing with many legacy systems, work order management, fleet management, maintenance, RFID readers. They are installed over the years but they don’t talk to each other.

Adding another standalone asset management system to the mix will be a mistake. This is an opportunity to assess these legacy system, consolidate and eliminate redundant systems, and create an operational platform that lends visibility to the enterprise.

So a new enterprise asset management system must be able to stand up to the challenge of being that operational platform. It needs to meet the following criteria:

  1. Manage the financial, contractual, and physical information of assets throughout the life cycle.
  2. Easy to exchange data with other systems through a web interface. This is the least intrusive way of exchanging data among different systems, and easy to build and maintain.
  3. Support mobile technologies: mobile devices, RFID readers, GPS tags.
  4. Web based, Cloud ready.

 

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