Asset performance management (APM) software is the range of products that helps enterprises realize business-specific goals. It enables administrators to effectively use their physical assets. Users can analyze the data collected garnered as a part of asset performance management to strategize on how to maximize profits and minimize risk.
In nutshell, asset performance management helps enterprises to track fixed assets’ performance for performance optimization. It enables them to extend the life of their fixed assets and reduce maintenance costs. This range of software is used by maintenance managers along with finance professionals to monitor fixed assets.
Asset Strategy and Risk Management
Data collection and aggregation, EAM integration, Collection of failure modes.
Predictive Asset Management
Data collection and aggregation, Statistical modeling, Neural Network, Machine learning
Condition-based Maintenance (CBM)
Data collection and aggregation, Rule engines, EAM integration.
What benefits an ERP system has?
There is a huge number of benefits of an ERP system given that the solution is chosen carefully:
- A single integrated system
- Streamlined processes & workflows
- Redundant data entry reduced
- Uniform processes based on the organization’s objectives.
- Shared information across departments
- Improved access to information
- Improved workflow plus efficiency
- Higher customer satisfaction owing to faster delivery & better quality
- Reduced inventory costs because of better planning, tracking & forecasting of requirements
- Turn collections faster based on better visibility into accounts and fewer billing and delivery errors
Which analytical solutions support Asset Performance Management?
The main analytical methods used in the APM solution are:
- Risk-based inspection (RBI)
- Reliability-centered maintenance (RCM)
- Performance forecasting
- Safety integrity level (SIL)
- Quantitative risk analysis (QRA)
- Hazard & Consequence analysis
- Integrity operating window (IOW)
Some of these methods can be implemented using a qualitative approach. As companies evolve in their process of collecting and treating data, they tend to move to a quantitative approach.
I need help in streamlining the software in my organization, how can Matellio help?
Matellio consists of an expert team that helps in asset labeling, data collection, license management, and designing your asset management policy. Get in touch to leverage our services.
Can I make any updates to the software after launch?
Yes. We allow you to update your ERP application for matching market standards. However, the changes made will be chargeable.
What are the hidden costs of this ERP software implementation?
Even well-planned ERP initiatives run into some hidden costs and overages. Common overlooked or underestimated costs include training, customization, data conversions, and integration/testing. However, our experts possess in-depth expertise and experience to help you overcome the extra costs with effective planning.