EAM stands for enterprise asset management while ERP stands for enterprise resource planning. EAM is a software that is used by an asset-intensive organisation. It helps to plan, manage, maintain, control and optimally utilise all the assets of a unit. It is used to determine the lifecycle of the various assets. This software is also helpful for regular monitoring and maintenance of the assets. On the other hand, ERP is a software that manages and integrates the enterprise operational activities beginning from bookkeeping to inventory management to reporting to CRM etc.
How is EAM helpful for an organisation?
EAM is a software that helps a unit to manage all the activities related to asset management starting with procurement till the disposal of the asset efficiently. Following are the benefits of using an EAM system.
- Ensures Optimal Utilization of the Assets: An EAM software makes sure that all the assets are utilised to its full capacity by ensuring that it is in good working condition all the time so that there is no unwanted interruption in the organisational work.
- Monitoring the Assets: An EAM facilitates you to monitor all the assets by providing you with the data of all the asset at one place. One could get quick access to the required information in the most presentable form. Management could also monitors the productivity of each asset.
- Regular Maintenance: EAM keeps the record of the current working condition of the assets and also records each asset’s repair and maintenance dates. It fetches the maintenance date of the respective asset and notifies the respective personal and vendor about the same. The software also notifies when there is any fault in any of the assets which enable management to schedule preventive maintenance so that the asset is kept in the proper working condition all the time.
- Reduces Operational Cost: Artificial intelligence, IOT and analytics help in proper maintenance of the asset which ultimately increases the productivity and lifespan of the asset helping in minimization of operational cost. EAM also cut down the number of employees required to manage assets which also contributes in cutting down the operational cost.
- Forecast the Asset’s Life: EAM software calculates the lifecycle of each asset of an organisation. This figure is used for the proper disposal and on time replacement of the asset. With the knowledge of the lifespan of an asset, an organisation could calculate the total productivity of an asset throughout its life, cost of replacement etc.
- Centralise Information: EAM keeps the record of details of each asset of a unit. It also records where the asset is placed, who is to work on it and when etc. Since the information is recorded at a centralized place, any authorised employee could get quick access to the required data which ensures smooth functioning of the organisation.
How is ERP helpful for an organisation?
- Accounting: Manual bookkeeping is a tedious and time-consuming task. ERP software performs this task in the easiest and quick manner. Records of daily transaction could be maintained with just clicks through ERP.
- Inventory Management: Inventory management is the most complex and difficult task. Doing it manually could be costly, cumbersome and the chances of committing errors are very high. ERP helps to perform this task with full efficiency. It helps in timely procurement, maintains minimum inventory level, places purchase order on time etc. Apexdroid is a cloud based ERP solution for small businesses.
- Human Resource Management: One could perform HR management activities like recruitment, payroll management, evaluation of employees performances easily and quickly through an ERP system.
- Customer Relation Management: Maintaining custom relation is no more a tedious and difficult task. ERP performs the contact management, after-sales services, email marketing,
- Tax Compliance: ERP calculates the tax liability in no time. Tax filing is just a click away. ERP saves you from delay in tax filing and penalities. Tax calculator and filing is a complex and time taking process that could be performed in clicks through ERP solution.
- Reporting: ERP provides all sort of reporting that could be required by the management for the decision making and analyzing the firm performance. Reports like cash flow, profit & loss, balance sheet, ratio analysis etc could be accessed on a click.
Small business hesitates in using ERP due to its high cost of installation & maintenance. Apexdroid is an affordable ERP for small business. It is one of the best ERP software for small business.
Apexdroid ERP integrates all core process that needed to grow a company :- Accounting, Finance, Payroll, Manufacturing, SCM, Procurement, CRM and others.Try Now: https://www.apexdroid.com