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  • Writer's pictureLiza Mathew

Importance of Asset Management for Any Organization

Updated: Jul 3, 2023

The importance of proper asset management is not limited to asset-intensive multi-national corporations. Regardless of their size, no company can ignore the significance of asset management and of using the right software solution to streamline the same.



What is Asset Management?

The process of procuring, developing, operating, maintaining, and disposal of an organisation’s assets in the most cost-effective manner that also helps maximise their usability throughout their lifecycle is referred to as asset management.

As assets play a crucial role in an organisation’s everyday operations, keeping track of them and their operational efficiency, service schedules, etc. is very important.

Utilising an intelligent software solution for asset management, monitoring, tracking, predictive maintenance and service management, like IBM Maximo Application Suite can help you ensure that you get the maximum value from enterprise assets.


More about the Features You Get

  • Asset Management: Using AI and analytics, you can conveniently optimise performance, increase asset life, reduce downtime, cut down on costs, and do much more when it comes to the maintenance and management of high-value assets.

  • Predictive Maintenance: Operational data insights and analytics can be used for effective maintenance scheduling to significantly improve asset reliability.

  • Monitoring: Drive digital reinvention with AI-powered remote monitoring for all your assets at an enterprise level.

  • Inspections: Automated inspections with intelligent computer vision can help gain operational insights for improving productivity, identifying gaps, etc.


Benefits of IBM Maximo Application Suite

  • Easy Deployment: Implementing the asset and IBM service management is extremely simple. Additionally, as the needs of your business change with time, the solution can also be scaled accordingly with additional applications.

  • Pay as per Need: While businesses can access all capabilities and features of the application suite, you are only required to pay for the services that you actually use.

  • Streamlined Operations: The software solution provides users a single integrated platform that can be used for a comprehensive view of all assets and their performance across the enterprise.


An ideal solution for asset and service management, IBM Maximo Application Suite boasts of advanced, market-leading technology that offers the expansive features of EAM, CMMS, APM, solutions and more, along with the benefit of streamlined administration across organisations.


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