Discover how enterprise asset management can increase the lifecycle of your assets and positively impact your revenue and team’s work quality. Find out how our solution can help your business.

Did you know that with enterprise asset management, it’s possible to increase the lifecycle of your assets, achieving positive results for both revenue and business process efficiency? But do you know how this relationship works?

In this article, you will better understand what exactly enterprise asset management means, how best practices in this sector can impact the durability of facilities and equipment, and how this reflects on the business’s financial health!

What is enterprise asset management?

Asset is a term used in accounting and financial management to refer to all goods or rights that have economic value and are under the possession of a company or individual. These goods or rights may include properties, equipment, stocks, financial securities, among others.

So, when we talk about asset management, the idea is to monitor and control all stages of the lifecycle of these equipment and facilities, from their acquisition to disposal. This includes preventive maintenance, which avoids asset failures and problems, increasing their useful life.

In addition, enterprise asset management provides important information about asset usage and performance, allowing for identifying improvement opportunities and making better decisions. Reporting and analysis also contribute to this decision-making.

How does asset management increase the lifecycle of equipment and facilities?

Asset management-related processes have a great potential for increasing the useful life of equipment. In fact, this is one of its main objectives. Better understand this relationship.

Monitoring and preventive maintenance

Asset management allows for constant monitoring of equipment, identifying possible problems before they become critical. Thus, preventive maintenance can be performed, avoiding unplanned downtime and prolonging equipment life.

Through good maintenance management, it is also possible to detect early malfunctioning of its components. If ignored, these failures could compromise other parts and even generate permanent damage to the machinery.

Replacement planning

Asset management allows for monitoring equipment wear, enabling planning for their replacement before their useful life ends, avoiding unexpected downtime and increasing production availability.

Performance analysis

Performance analysis functions are another major gain of the tool. It is possible to identify improvement points and potential solutions to increase their efficiency and prolong their useful life.

In addition, this analysis can identify the need to replace old parts and equipment, increasing production safety and efficiency.

Enterprise asset management is essential to ensure efficiency and effectiveness in managing the company’s assets. It allows for increasing asset lifecycle, reducing maintenance costs, increasing asset availability, and positively impacting revenue and the quality of work of operation teams.

If you want to increase the lifecycle of your assets and achieve positive results for your business, discover our enterprise asset management solution now! Request the Manusis 4.0 demo version!