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A Primer on IFS EAM - What you Need to Know

Through its recent acquisition of the Dutch company Ultimo, IFS added a new EAM asset to its roster of enterprise solutions. Here is what you need to know.

What is IFS?

IFS is a Swedish company specializing in ERP (Enterprise Resource Planning) software. The company has deep roots in the aviation, construction, energy, manufacturing, telecommunications, and service industries.

What is EAM?

EAM stands for Enterprise Asset Management which is designed to keep capital equipment running properly for as long as possible. EAM is essential for industries like manufacturing, energy, oil & gas, and other types of companies that invest in heavy, expensive equipment that requires regular updates and maintenance to stay optimized.

EAM software helps businesses keep track of scheduled maintenance to keep everything running smoothly and minimize downtime. Often these solutions use sensors to detect problems and report usage data to notify administration when maintenance is needed. It can help to prevent problems and even automate ordering replacement parts before they are needed.

An EAM solution also promotes a safer working environment for employees, keeps equipment working longer, minimizes downtime, and helps to increase profits and avoid lost revenue.

Benefits of Ultimo EAM

IFS already has an enterprise-level EAM solution but stated in their press release that they purchased Ultimo because of its strong reputation and a "proven track record of delivering faster time to value within the industries they serve" and its "rapid deployment and ease of use." The company representative also said Ultimo has a strong footing in the mid-market, opening new customer opportunities for IFS.

Another opportunity for growth that comes along with the acquisition is moving into North America. IFS sales teams will have the option of cross-selling and offering a variety of both ERP and EAM solutions to American businesses. In addition, there are a few distinct differences between the Ultimo EAM and IFS' products, offering customers a choice.

A few other big-ticket benefits to using the Ultimo EAM system are that it can typically be deployed quickly and works on high-tech devices. In addition, the software operates as a stand-alone entity instead of bundled with another product. It also has a user-friendly, professional interface and scales well for larger companies. Both Ultimo and IFS' in-house products use the Microsoft Azure infrastructure.

IFS plans on showcasing its Ultimo offering at a user event later this year in Miami.

Features of IFS EAM

Some of the features of IFS EAM include:

Strategically Manage Assets: Manage all your capital assets from purchase to end-of-life. Extend the life of your assets for as long as possible.

Optimize Efficiency: EAM software aims to save time and money by optimizing the efficiency of your equipment, reducing downtime, and monitoring assets, and handling financial planning for future purchases.

Fleet Management: Manage your entire fleet of vehicles with ease, regularly scheduling and performing maintenance as needed.

Streamline Work Orders: Streamline the work order process from initiation until completion. Assign jobs to technicians and control access through the admin panel.

Stay Compliant: EAM also helps with compliance and unplanned audits making it easy to provide maintenance records and asset details within minutes.

Analysis and Reporting : Use the built-in reports to gain insights into your asset usage and life cycle and make better business decisions with the analysis modeling tool.

MRO Tasks: Easily manage your MRO (maintenance, repair, overhaul) tasks directly from the software interface.

Why an EAM Solution is So Critical Now

With a recessionary economy, supply chain issues, and a shortage of truckers and products, now is the time for companies to invest in an EAM solution to ensure continuity. Most businesses simply cannot afford any downtime right now.

EAM extends the functionality of a standard ERP product. Typically, ERP handles the IT and administrative side of things, whereas EAM manages operations technology. EAM and ERP work together to keep your entire organization running smoothly and efficiently. 

Another vital point is that an effective EAM solution uses sensors to measure energy usage and machine data, which can also benefit ESG (environmental, social & governance) systems. These two solutions can work in tandem to ensure proper operations and time and money savings.

The bottom line is that an effective EAM solution helps businesses keep their assets and equipment available and running at peak performance for as long as possible.

How to Get More Information About IFS EAM?

Astra Canyon Group is North America's leading IFS partner, and we offer complete ERP/EAM solutions. Contact us today if you have questions about IFS EAM or want to learn more about how it can benefit your business. We can schedule a test drive demo to show you how it works.

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