MRO Magazine

Increase affordability and efficiency with cloud-based EAM systems


Mr. O’s Tips

February 16, 2022
By Steve Richmond

It’s never been more important for companies to manage assets effectively in order to scale in the best way possible. Just having a better product or service is no longer adequate in today’s world; organizations are now expected to develop their product better, faster, and cheaper, meaning they need to maximize the productivity of their assets and equipment to really succeed.

Companies are now faced with the choice between installing enterprise asset management (EAM) Cloud or EAM On-Premise systems with modern applications to reach these goals. It was only a decade ago when the most typical way to deploy an EAM system was through an on-site data centre, but things have changed.

On-premises installations that are hosted and controlled internally by IT departments are now being outperformed by software-as-a-service (SaaS) and cloud-based alternatives. Most EAM technologies are now cloud-based SaaS models, and they offer some significant advantages, especially when it comes to increasing affordability and efficiency.

Affordability:
Perhaps the best thing about an EAM Cloud system is the amount of money you can save upfront. Their minimal start-up costs also make cloud EAM apps popular with smaller businesses. Cloud-based SaaS models eliminate the need for upfront capital investments, and you only pay for what you use. They give you the freedom to scale up or down your service based on your monthly requirements, and you also get seamless automated software upgrades and backups.

On the other hand, on-premise systems require a significant initial expenditure because you must acquire and maintain the gear required to run the EAM software. You’ll end up spending more in the long run, and these costs can add up quickly. If affordability is your focus, go with an EAM Cloud system for the most bang for your buck.

Efficiency:
In a side-by-side comparison for efficiency, an EAM Cloud system is going to be far more superior to an EAM On-Premise system. With SaaS or cloud-based EAM systems, upgrades are handled automatically by the vendor, enabling workers to do other tasks and effectively outsource the technical expertise required with EAM maintenance. Updates are also performed regularly by software providers to improve software stability typically overnight, which allows for as little disruption as possible.

With an on-premise system, you’ll be faced with big challenges if your physical premise is ever damaged by a natural disaster or power loss, which is not a problem when you store critical EAM data in the cloud. Aside from having to spend time maintaining and troubleshooting expensive on-site hardware, an on-premise system also doesn’t offer efficient capabilities for your maintenance staff to access asset data via the cloud from any device, anywhere, instead of having the data on a single computer.

Choosing the appropriate EAM for your business is no easy task. First and foremost, you must examine your organization’s needs, finances, data, and scalability constraints. However, most companies are going to find more benefits from an EAM Cloud system, especially when it comes down to affordability and efficiency. MRO
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Steve Richmond, CEO and Founder, Projetech, Inc.