In today’s hectic business world, staying ahead of the competition requires efficient and effective enterprise asset management. But for many organizations, tackling this challenge has become an uphill battle due to heavily-customized legacy systems. Considering they are expensive to upgrade and has disconnected point solutions.
“According to Statista, the global market for asset management software is expected to expand from $3 billion in 2019 to $5.2 billion in 2024.”
Similarly, issues related to inconsistency in data collection, inability to customize processes for specific business needs and data silos are also common due to disparate systems.
Continue Reading
Fortunately, there is a solution: Enterprise Asset Management (EAM) system.
An Overview
- Unleashing the Power of Enterprise Asset Management
- Go Bigger and Better with ServiceNow Enterprise Asset Management
- Reap the Benefits of an EAM System: Supercharge Your Workflows and Enhance Productivity
- Boost Your Organization’s Asset Management Efficiency via Automation
Unleashing the Power of Enterprise Asset Management
An EAM system can modernize you processes and allows you to enjoy an improved level of visibility and control over your assets. An EAM system offers a comprehensive approach to asset management – enabling you to save time and money while keeping your operations running smoothly.
With ServiceNow’s Enterprise Asset Management features, you can gain up-to-date insights into your enterprise’s asset lifecycle, better monitor cost allocation across units and departments, maintain all the financial details in-terms of contracts and expenses for any given asset within ServiceNow. It also has the ability to automatically identify the assets at risk of expiration, provide decision making choices, optimize workflows, and more. Lastly, ServiceNow EAM can easily integrate existing enterprise resource planning tools with ServiceNow for two-way communication and synchronization using customizable flows.
Keep all your assets organized with EAM for smarter decision making.
Go Bigger and Better with ServiceNow Enterprise Asset Management
As businesses grow, so do the complexity and number of assets it manages. In order to stay ahead of the curve and remain competitive, it’s essential to equip your organization with a system to keep track of your assets and their lifecycles.
ServiceNow Enterprise Asset Management is the complete asset management solution for your enterprise without doubt:
- Get instant visibility into the physical assets of your organization with the ServiceNow Enterprise Asset Management solution.
- sample
- Monitor and take action on risk exposures from undocumented assets, lack of process, and failed audits.
- Simplify stockrooms with stock rules and bulk orders for dependable inventory information.
- Empower end-users to request assets from catalogs and manage replacements, refresh cycles and returns like a pro!
- Upgrade balance sheet performance by using what you have in an efficient manner with EAM professional license.
Move on from guesswork; control the direction of your business with ServiceNow’s Enterprise Asset Management!
Reap the Benefits of ServiceNow EAM: Supercharge Your Workflows and Enhance Productivity
Save your organization time and money by leveraging configurations and low-code workflows to optimize your existing EAM system without expensive upgrades or time-consuming customizations. Enjoy all the benefits of an efficient and streamlined EAM system without breaking the bank:
1. Maximize Cost-Effectiveness and Enhance Decision Making
Maximize cost-effectiveness and profitability by leveraging existing capital assets with ServiceNow EAM. Link financial and operational asset-related activities with this comprehensive platform and boost balance sheet performance by optimizing asset inventory levels, avoiding stockouts, reclaiming unused assets, and simplifying end-of-lease decisions.
2. Gain Transparency to Improve Business Intelligence
Gain unrivalled asset visibility and accurately track the physical business assets across all asset classes. Enhance decision making with real-time data and increase planning efficiency in a rapidly changing business climate.
3. Minimize Enterprise Asset-Related Risk
Improve enterprise security by reliably documenting previously unknown assets and minimizing exposure through risk heatmaps. ServiceNow EAM also provides complete asset traceability and detailed records that comply with regulatory requirements and audits.
4. Streamline and Automate Asset Management Processes
Redesign and automate asset management workflows using ServiceNow EAM to improve processes and reduce costs. Easily transfer assets in stock, requisition assets, and reclaim assets that are not currently in use.
Boost Your Organization’s Asset Management Efficiency via Pre-Built Workflows !
From acquisition and deployment to maintenance and retirement, streamline your processes to save time, money and resources. Benefit from a powerful out-of-the-box platform with pre-built workflows that simplify the management of your resources with easy-to-use, cloud-based asset management.
1. Improving Workflow Efficiency
With ServiceNow EAM, workflow efficiency is guaranteed when it comes to acquiring or deploying new assets. The bi-directional ERP integration eliminates delays and provides instant updates in the procurement process.
2. Incident Support
Your business has ample support during an incident with the EAM. Since stored records capture details such as warranties and lease status, it’s easier to swap out the failing asset and proceed with the next step.
3. Compliance with Returns and Replacements
Ensure your compliance when it comes to asset returns and replacements with the RMA order management feature. Track all related activities for both new and old assets for smooth decommissioning, even for multi-component assembly processes.
4. Asset Identification and Recall
For successful recalls, identification processes are taken care of for impacted assets. This ensures complete records meet the required standards for timely compliance.
5. Automated Loaner Equipment Reservations
ServiceNow EAM also includes a feature for automated and organized loaner equipment reservations all within the same system.
6. Enterprise Asset Configuration & Scoring
Furthermore, EAM has implemented robust workflows for Enterprise RMA, Recall, Lease End Management, Disposal, Asset Request and Refresh – even calculating Asset Severity based on likelihood of failure and impact on operations through Enterprise Risk Configuration and Scoring.
7. Tracking Reservations
EAM also has separate flows for Tracking Reservations for any given Enterprise Assets, as well as an Asset Audit flow for performing better inventory audits based on any given location or Stockroom.
Putting Multi-Component Assets Under Control with EAM
Onboard and manage the entirety of your asset estate with ServiceNow Enterprise Asset Management! By leveraging ServiceNow Enterprise Asset Management, you can have detailed visibility into any kind of asset – from consumables to serialized discrete objects and multi-component assets. Unlock the power of four different model types, designed to match complexity in real-world environments – consumables, pre-assembled, user-assembled, and simple.
- Effectively handle complicated multi-component assets and organize complicated assets and their parts into manageable tasks.
- Define and track multi-tier parent-child relationships to better understand and control asset construction.
- With ServiceNow EAM, you can ensure the integrity of your assets by enforcing only permissible and safe processes.
- Additionally, perform whatever workflows, whether replace or repair, on either the multi-component asset itself or its individual components.
- With it, you can unlock maximum opportunities to better organize and optimize your asset operations.
Increased Asset Management Flexibility
ServiceNow EAM makes it possible to have new asset classes, model categories, and model classes in the existing AMDB tables with extensive features.
- EAM’s model categories cover a vast range of assets in General Industries, Retail, Technical Equipment, Construction, Medical Facilities, Transportation, and Wearables.
- It enables Asset Management teams/Inventory Management teams to release and deploy bulk assets from various hardware models and Swap directly from the Model record itself.
- It’s multi-model classification even allows you to distinguish between Assembled (Manual, User-assembled) and Auto-assembled (Pre-assembled) Hardware assets.
- In addition, it supports Enterprise Model Normalization, allowing for one authoritative source of data across entire assets within the organization.
- Lastly, EAM also has Domain Separation and support for Self-hosted (on-prem) instances.
Don’t settle for less. Empower your business with ServiceNow Enterprise Asset Management.
Invest in Your Future with Secure, Robust Enterprise Asset Management Solutions
If you’re looking to simplify your asset management process, implementing ServiceNow Asset Management solutions with our assistance is the ideal solution to power up your business operations!
We specialize in the implementation of ServiceNow Enterprise Asset Management (EAM), designed to help streamline your asset lifecycle and optimize processes. Utilizing our expertise, you can reduce costs, minimize risks, and improve overall customer service by unlocking the full potential of your machines and resources.
Our team also adds value in multiple ways; from onboarding technology, estimating cloud provider costs analyzing license agreements, understanding hardware asset management, and speeding up processes for maximum efficiency.
