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ERP software versus EAM software
Enterprise Resource Planning (ERP) is business management software that allows an organization to use a system of integrated processes to manage its core business activities. ERP is designed to combine all the company’s activities into a single database, eliminating incompatible and duplicate technologies. ERP is very strong in processes like finance, logistics, and procurement and can do an excellent job of managing an organization’s core business processes.
At first glance, utilizing an ERP system to support EAM processes looks very interesting; there is only one software system and data is all in one place. However, for Enterprise Asset Management and business support processes such as corporate real estate management, space management and maintenance planning, these ERP systems can be difficult to use and difficult to implement. Click here for a whitepaper to learn more about ERP in facility and real estate management.
EAM software for real estate assets
Enterprise Asset Management software solutions that support the lifecycle of buildings, its infrastructure, and real estate assets, are often labeled differently. Some commonly used labels are:
- Integrated Workplace Management Systems (IWMS)
- Computerised Maintenance Management System (CMMS)
- Real Estate Management Systems (REMS)
- Property Management Systems (PMS)
- Space Management Systems (SMS)
- Computer Aided Facility Management System (CAFM).
IWMS is the most similar label to a EAM system and supports the lifecycle of all business support assets including real estate, infrastructure, technical installations, space, workspaces, fleet, vending machines, meeting rooms, and facilities. Click here to learn more about IWMS.
EAM scope of Integrated Workplace Management Systems (IWMS)
IWMS encompasses all the functions and processes that relate to the operational and maintenance phase of any asset including:
- Real estate portfolio planning and management
- Capital projects and replacements
- Space planning and management
- Asset administration and operations management
- Centralized call logging, processing, and monitoring
- Maintenance planning, financial forecasting, and budget control
- Asset integration for meter readings and just-in-time (JIT) maintenance
- Mobile field services execution
- Tracking and reducing sustainability impacts
- Asset performance reporting and analyses
IWMS typically supports integration with Computer Aided Design (CAD) systems such as AutoCAD, to combine the above database information with graphical asset information and documentation. Innovative IWMS vendors offer integration with Building Information Modelling (BIM) systems such as Revit, to seamlessly connect an asset’s design and construction phase with the operational and maintenance phase. As an IWMS brings all data and processes together in one single source of truth, organizations are able to make better decisions to prolong the lifecycle of their assets, to use resources effectively and reduce overall costs.