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What is Asset Performance Management?

Asset Performance Management (APM) is a strategy of asset management that prioritizes business objectives in addition to conventional asset efficiency and availability goals.

APM has emerged as a key enabler of digital transformation for asset management in industrial businesses. Modern APM blends conventional asset management practices with new digital tools to achieve unprecedented advances in dependability, maintenance execution, and business performance.

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What is Asset Performance Management Software?

Asset performance management software helps businesses track the performance of their fixed assets to maximize their use. Companies use this type of software to prolong the life of their permanent assets and reduce maintenance expenses.

Asset performance management is primarily used by maintenance managers, but finance professionals can also use it to track fixed asset expenditures as well.

Features of Asset Performance Management Software

Asset performance management (APM) software is used for monitoring and managing the performance of physical assets such as machinery, equipment, and infrastructure. The most common features of APM software are:

Asset Tracking and Monitoring

APM software provides real-time asset performance and health insights. This includes monitoring key performance indicators (KPIs), such as downtime, availability, overall equipment effectiveness (OEE), and recording asset utilization and repair records.

Integrative Systems

To simplify maintenance processes and increase data quality, APM software can be combined with other systems, such as computerized maintenance management systems (CMMS) and enterprise asset management (EAM) systems

Predictive Maintenance Capabilities

APM software employs sophisticated analytics and machine learning algorithms to anticipate when maintenance is required before a breakdown happens. This can enable businesses to schedule a repair in advance, reducing unplanned downtime and extending the life of their assets.

Data Analytics And Reporting

APM software collects and analyses large amounts of data to spot patterns and trends in asset performance. It offers customizable reports and dashboards that enable businesses to visualize and analyze data to make informed decisions about asset management and upkeep strategies.

Asset Risk Management

Asset performance management (APM) software can help businesses identify high-risk assets based on criticality, safety, and environmental factors. This can help companies better allocate resources and lower total risk.

Work Order Management

Asset performance management software helps companies manage and prioritize work orders based on asset performance statistics and maintenance records. This can help maintenance teams work more effectively and decrease downtime.

Benefits of Asset Performance
Management Software

Some of the top benefits of APM Software are

Increased Asset Uptime And Reliability

Asset performance management software can help companies identify and address potential problems before they cause unexpected downtime or equipment failure.

Organizations can reduce downtime, improve asset dependability, and optimize uptime by constantly tracking and maintaining assets.

Improved Maintenance Planning

Because APM software provides real-time insight into asset performance, companies can more effectively plan and schedule maintenance.

This can help to reduce repair expenses, limit operational disruption, and prolong asset life.

Improved Decision-Making

APM software gathers and analyses large amounts of data on asset performance, enabling organizations to make informed decisions about upkeep, fixes, and replacement.

This can enable organizations to optimize asset management strategies, lowering expenses and improe total performance.

Increased Efficiency And Productivity

APM software can help organizations work more efficiently and reduce downtime by providing real-time visibility into asset performance and automating maintenance workflows.

This can boost total productivity while lowering operational expenses.

Enhanced Safety And Compliance

APM software can help companies identify and mitigate safety risks associated with their assets.

Organizations can enhance safety and reduce the risk of accidents by ensuring that assets are kept and run in line with statutory requirements and best practices

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Key Benefits of Using Infraon's Asset Maintenance Software

Enhanced Predictive Maintenance

Infraon APM predicts potential asset breakdowns and identifies the underlying cause of the issue using advanced analytics and machine learning algorithms. This allows businesses to plan maintenance ahead of time and prevent unplanned downtime.

Improved Asset Performance

Infraon APM offers insights into asset performance and uncovers opportunities to improve its operation through real-time tracking of critical assets. This enables businesses to optimize the output and efficiency of their assets.

Reduced Maintenance Costs

By detecting possible issues before they arise, Infraon APM can help organizations avoid costly repairs and asset replacement. As a result, assets have lower maintenance expenses and a higher return on investment (ROI).

Improved Compliance

With real-time asset tracking, Infraon APM can enable businesses to meet regulatory compliance standards.

Enhanced Safety

Infraon APM offers alerts and notifications for important events, allowing businesses to react quickly and mitigate safety risks. This creates a safer working environment for employees and lowers the chance of accidents.

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