EAM Evolution: Tech-Driven Predictive Solutions for Cost Savings
Over the last 20 years, maintenance management approaches have evolved in step with technology. Facilities leaders adapted to the changing industry by moving from a primarily reactive approach, maintaining equipment when broken, to a preventive approach, scheduling maintenance to extend the life of assets.
Now, by enlisting smart tech like the Internet of Things (IoT), Operational Technology (OT), and Asset Performance Management (APM), buildings are more intelligent, and teams can nearly predict maintenance needs. Predictive maintenance has become a much more accessible method of maintenance management with long-term benefits for asset longevity and the resulting cost-savings. Initiating a predictive maintenance program has already been proven to reduce overall maintenance costs by at least 5%-10%.
Integrations That Matter in EAM
Modern businesses require real-time insights and the ability to integrate data to and from systems, optimizing enterprise maintenance and asset performance.
- Asset Performance Management (APM) monitors asset health, predicts failures, and extends the lifecycle of equipment. APM improves efficiency and uptime of physical assets.
- Operational Technology (OT) detects or causes changes in physical processes for hardware and software. OT optimizes performance and health tracking on hardware and software that controls equipment in industries like manufacturing, utilities, and transportation.
- Internet of Things (IoT) connects devices and systems, allowing them to communicate and share data in real time. With IoT integrations, organizations can detect equipment failures before they happen, allowing for timely intervention and repairs, significantly reducing downtime.
According to a report by Deloitte, organizations that implement IoT-based predictive maintenance can reduce unplanned downtime by 30% to 50%
When any of these technologies are integrated with an EAM solution, they transform the way organizations manage their assets. Some of the benefits organizations adopting these systems can experience include:
- Data Insights: According to the IDC, IoT-enabled devices are expected to generate over 79.4 zettabytes of data annually by 2025 When integrated with EAM platforms, this data becomes a powerful tool for real-time decision-making and long-term planning.
- Rapid Adoption: Globally, over 70% of manufacturers are expected to integrate IoT solutions into their operations by 2025 as projected by the IDC. This trend proves the growing importance of IoT for asset-intensive industries.
- Sustainability: Integrating OT with EAM can significantly contribute to sustainability goals by improving energy efficiency, reducing waste, and enhancing asset utilization. This data can help businesses reduce their carbon footprint and meet regulatory requirements.
“The need to import machine condition and performance data to feed the AI and APM engines means that integration with IoT and OT software products and data stores has become a key technical characteristic for EAM selections.”
– 2024 Gartner Market Guide for Enterprise Asset Management Software
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The Future of Advanced Maintenance with TMA
TMA Systems has been engineering flexible EAM solutions for over 30 years. We believe that being an expert in your field means recognizing the value of collaboration, which is why we've partnered with leading technology providers to develop integrations that wouldn’t have been possible on our own.
WebTMA integrates with building automation platforms including Johnson Controls Open Blue Enterprise Manager and Honeywell Forge. These applications feed asset data directly into WebTMA, and create bi-directional workflows that enable facilities teams to gain a holistic view of their operations. By monitoring the conditions of the assets in real-time, these smart technology platforms still rely on WebTMA to track and report on any interventions needed by maintenance staff. IoT solutions can detect and often predict downtime events but ultimately a maintenance technician will be dispatched to fully analyze the cause of the problem and apply the remedy. These technicians will evaluate and document maintenance information into WebTMA to further enhance the predictive capabilities in these platforms.
Ready to advance your maintenance management strategy? Schedule a demo to discover how our products can transform your facility and asset management.
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