Understanding the intricacies of capital investment and justifying expenditures in the world of asset maintenance management can be a complex task. Decision-making becomes challenging without a comprehensive view of your assets’ lifecycle. That’s why here at CoGo, we have designed a solution to give Maintenance Managers full visibility.
“These tools help General Managers strategically plan what dollars need to be invested in what asset and why.” – Andy Pruett, CEO of CoGo
Let’s dive into five ways in which Enterprise Asset Management (EAM) gives you full visibility into your assets’ lifecycle, facilitating decision-making about investments and resource allocation:
1. Unveiling the Capital Investment Process
Having your EAM fully integrated with your ERP – in our case, with D365 Business Central – General Managers can address the daily core challenge – how to gain accurate insights into the capital investment process. An asset investment analysis provides information crucial for justifying capital expenditures, empowering decision-makers with the data needed to make informed choices.
2. Analytical Information at Your Fingertips
Centralizing asset data is the main purpose of EAM. This streamlined approach ensures that General Managers can effortlessly access analytical information within the system, simplifying the process of answering critical questions about the capital planning cycle and necessary equipment investments.
3. Power BI Report: A Window into Asset Health
You can take asset visibility to the next level with Power BI reports. These reports provide an overview of assets, including their remaining accounting life, depreciation, book cost, and repair expenses. The intuitive quadrant display categorizes assets by age and maintenance costs, offering a quick snapshot of asset health.
4. Strategic Planning Made Easy
During the capital planning cycle, Maintenance Superintendents need to present information to General Managers. By identifying old assets incurring high maintenance costs, for example, can facilitate strategic discussions about potential replacements through capital investments.
5. Drill Down for Precision
The right EAM’s analytical prowess isn’t limited to summaries. With the ability to drill down into individual assets, your solution should give you a detailed analysis of preventative versus corrective actions, labor versus parts costs, and the overall investment in each asset. This level of granularity empowers decision-makers to understand the nuances of asset performance and make strategic investment decisions.
In conclusion, by centralizing asset data and providing comprehensive analytical insights, the right EAM solution must equip General Managers with the tools they need to plan investments strategically.
Here at CoGo, we have developed a solution that gives you full visibility into your assets’ lifecycle, allowing our customers to embrace a smarter approach to decision-making today. If you’re ready to witness the transformative power of CoGo tailored to your specific needs, reach out to schedule a full demo at email@example.com.
Elevate your asset management game – CoGo is here to make it happen!