FX EAM (Enterprise Asset Management)

What is Enterprise Asset Management?

Field service companies are asset-intensive, and they rely on these assets to stay operational, which is why enterprise asset management (EAM) is critical to their success. Providing process and intelligence for physical assets allows for increased equipment reliability, systematic preventive and predictive maintenance, and efficient inventory management.

Enterprise asset management allows field service companies to move from costly reactive maintenance to preventive maintenance, allowing these organizations to decrease equipment downtime, save money, and ensure longer asset life. Some of the additional benefits of a strategic asset management system are:

Maximum equipment utilization
Improved reliability
Lower asset maintenance costs
Better inventory management
Ability to measure asset KPIs
Transparent cost forecasting
Increased equipment safety

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EAM for Field Service

Why does a field service company need a solution built for their specific needs? Unlike traditional EAM systems that are built for a factory floor where systems do not track job data, field service companies have assets and equipment that travel out to jobs and rely on this information to make informed decisions. To maintain these assets properly, you must have a full view of its historical condition, status and location. In addition, many companies are required to do their maintenance remotely at the job site. Field workers and technicians do not always have the luxury to complete work orders in a Wi-Fi enabled air-conditioned office, often they need to work disconnected on a handheld device. An additional problem that plague field workers is the lack of access to information. By having one solution that ties field processes to equipment maintenance, field service companies are better able to manage the care of assets in remote locations.

Companies that pair their field ticketing solutions, like FX E-Ticketing with an enterprise asset management solution such as FX EAM enjoy added benefits. When used as a single solution, companies achieve data harmonization across the organization. The FX E-Ticketing module takes the data from completed field tickets and pre/post job inspections and leverages it for strategic asset management in FX EAM.

An EAM solution for a field service company should provide:

Asset tracking
Repair costing data
Inventory transparency
Integration with GPS/ Telematics software
Mobile work orders
Actionable reporting configured to the business

Inventory Management

FX EAM provides a full inventory solution for field service companies. FieldFX’s field first approach gives inventory managers the ability to track assets online or offline, on a job or on a yard, over many various stock points. FX EAM allows you to forecast inventory cost and requirements allowing you to optimize your budget and fulfillment. Having the correct inventory on hand ensures the efficiency and speed of work order completion, resulting in reduced asset downtime.

Asset Scheduling

For field service companies, asset planning and scheduling is critical. It is vital to know which pieces of equipment are available and where they are located. FX EAM’s integration with the FX Schedule & Dispatch module allows for a seamless view into exactly that. In addition, the added benefit of knowing if an asset has been properly maintained or if it’s due for service enhances the scheduling of assets even further. Pre/post job inspections and maintenance of assets can also be documented in the FX E-Ticketing module, giving the dispatcher a 360-degree view of every asset.

Spare Parts E-Procurement

Job and Work Order driven purchase order requisitions, streamlines the MRO purchasing process by reducing manual administrative processes. FX EAM allows for automatic requisition creation based on consumed inventory used to execute work orders and job tickets. In addition, the inherent criteria-based approval process guarantees company-wide procurement policies are strictly enforced.

Technician picking out spare parts in a warehouse

Work Order Management

FX EAM makes work order management a breeze by allowing for templated work orders at the asset or asset category level, on or offline, as well as the ability to create work orders ad-hoc. Work order templates can include predicted cost, labor, parts, forms, and direction. Easily configurable page layouts reflect current processes and allow for successful user adoption. Documents and files are easily managed and attached to work orders. In addition, our work order management system allows you to compare forecasted cost to actual cost giving you visibility into metrics of maintenance spend giving you the ability to be more strategic with your planning.

Preventive Maintenance

Regularly performed maintenance improves asset performance and reduces downtime. FX EAM delivers process and intelligence to preventive maintenance by providing calendar, meter and event-based schedules and reusable model work orders that include detailed work instructions. In addition, a formal preventive maintenance plan enables strategic labor and parts planning and facilitates compliance reporting. Executing a preventive maintenance program gives you greater visibility into upcoming cost and increases quality of service.

Integration and Reporting

For any organization going through a digital transformation, integration is a fundamental requirement. 95% of field service companies require data to be transferred in and out of their field operations management platform. FieldFX makes the work of integration easy with open APIs. Companies often require data to feed in from IoT, ERP, and ELD/Telematics, to name a few. FieldFX easily receives this type of data and makes it actionable. The FX EAM preventive maintenance feature triggers maintenance based on updated equipment meters, as well as updated statuses such as location data, which can be fed by a GPS solution. FieldFX also reports on any datapoint in the solution. This means that financial data from your ERP, field data from your tickets and costing data from your maintenance system is readily available, providing a 360-degree view of operations and valuable insight into the business.

See the Business Impact

Tech-Flo: Optimizing Ticketing and Rental Fleet Management with FieldFX

View Case Study

Robust Enterprise Asset Management for Multiple Roles

View White Paper

Five Primary Asset Challenges and How to Solve Them

View Webinar

FX EAM: Providing Process and Intelligence for Physical Assets

View Datasheet

Contact us to schedule a demo and our team will reach out to learn exactly what you’re looking for, and tailor the demo for your interest and industry.