Enterprise Asset Management – the Missing Link

Many industry analysts have predicted a faster growth in the adoption for Enterprise Asset Management systems, driven by the maturing technology in mobile asset tracking, and delivery of software as a service. After all, these technologies have significantly lowered the costs of tracking assets accurately, which makes it much easier to justify the investment. So what else is preventing the enterprise wide adoption of the system?

Suffering from a portfolio of siloed applications, which don’t talk to each other, enterprises are weary of introducing another system.

Because the enterprise asset management processes touch multiple functions in the organization, IT, Finance, Procurement, Facility, the system needs to be a platform that connects with multiple systems to share data.

This is the missing link. Enterprises are looking for that platform to support their processes, while in the meantime, consolidating/eliminating existing applications.

In order for the enterprise asset management system to serve as a platform, it must meet the following criteria:

  1. Web based, with well-defined APIs to exchange data with other systems
  2. The data structure is flexibly designed to allow easy addition of new fields and different input formats.
  3. Support integrated workflows that use APIs to exchange data. These workflows can be combined to create automated business processes that extend to other systems and extend the functionality of the system.
  4. The system needs to support easy reporting: customized by users, ad hoc or saved reports

I will be speaking about the Challenges of Implementing Enterprise Asset Management in the 5th Annual Executive Forum, sponsored by Barcoding Inc., in Baltimore, MD on Oct. 8th. If you would like to register for that event, please visit here.


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