In a world where competition is high, businesses must manage their assets effectively, which includes tracking, maintaining, and optimizing them. Enterprise asset management is a crucial practice that enables an organization to manage its physical assets throughout their entire lifecycle. This guide will show you the best enterprise asset management software on the market, industry best practices, definitions, and how you choose an avenue that fits into your organization.
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What is Enterprise Asset Management Software?
What is enterprise asset management software? Essentially, it is a digital solution that helps organizations monitor, control, and maintain assets in different areas. This can include not limited to machinery and equipment, IT infrastructure, and vehicles. The goal of the software is to manage the organization’s assets to ensure they are used properly, maintained properly, and replaced or retired properly.
For more information: What is Asset Liabilities Management? Click here!
Enterprise Asset Management Definition
(EAM) Enterprise asset management is defined as the systematic practice of managing a company’s assets during the total lifecycle of the asset from acquisition to disposal (and every phase in between) through data-driven processes and systems. Enterprise asset management supports the decision-support process for capital costs, budgeting, and risk for the asset ecosystem.
Importance of Choosing the Best Enterprise Asset Management Software
The best enterprise asset management software helps reduce operational costs, minimize downtime, and increase productivity. Businesses can automate maintenance tasks, gain real-time visibility into assets, and ensure regulatory compliance.
Some of the critical features include:
- Asset tracking and performance analysis
- Maintenance scheduling and work order management
- Inventory and procurement integration
- Reporting and analytics
- Integration with ERP and IoT systems
Why Poor Enterprise Asset Management Can Hurt Business
Poor enterprise asset management results in excess maintenance costs, increased equipment downtime, and reduced asset lifespan constraints. It impacts downtime and creates risks to safety, compliance concerns, and inefficiency in the use of natural resources. Over time it has the potential to damage brand reputation and lead to catastrophic financial losses.
Enterprise Asset Management Meaning in 2025
The enterprise asset management meaning has evolved beyond simple asset tracking. In 2025, it refers to a strategic, digital-first approach that integrates AI, IoT, and cloud technologies to maximize the performance and value of physical assets.
Modern EAM platforms enable organizations to:
- Predict failures using real-time data and AI
- Automate preventive maintenance schedules
- Optimize lifecycle costing and budgeting
- Integrate with mobile devices for field operations
- Ensure ESG (Environmental, Social, Governance) compliance
Enterprise Asset Management Industry Trends
The Enterprise Asset Management (EAM) industry is undergoing rapid digital transformation, with market projections indicating significant growth. According to MarketsandMarkets (2023), the global EAM market is expected to reach $7.8 billion by 2027, expanding at a 13.2% CAGR. Similarly, Grand View Research (2023) forecasts a $10.4 billion valuation by 2030, driven by IoT and predictive analytics adoption. Fortune Business Insights (2024) further predicts the market will surpass $9.5 billion by 2029, emphasizing cloud-based EAM solutions, while Gartner highlights AI integration as a key accelerator for this growth.
Key trends include:
- AI-powered asset intelligence
- Cloud-based solutions for real-time data access
- Mobile-friendly platforms for on-the-go asset control
- Sustainability integration to meet green compliance
- Cybersecurity features to protect critical infrastructure
Enterprise Asset Management Best Practices
To get the most out of your investment, follow these enterprise asset management best practices:
1. Define Clear Objectives
Understand what you want to achieve—reduced downtime, cost control, compliance, or lifecycle extension.
2. Centralize Asset Data
Consolidate asset data across departments to eliminate silos and improve visibility.
3. Automate Workflows
Use automation to streamline maintenance requests, inventory updates, and performance reporting.
4. Leverage Predictive Analytics
Utilize sensors and IoT tools to identify performance issues before they escalate into costly failures.
5. Train Your Teams
Ensure proper training for staff using the EAM system. This reduces human error and boosts efficiency.
For more information: Asset Life Cycle Management Best Practices with CMMS in 2025. Click Here!
Top Features to Look for in the Best Enterprise Asset Management Software
When selecting the best enterprise asset management software, ensure it includes:
- Real-time asset tracking
- Predictive maintenance capabilities
- Mobile access and app integration
- Customizable dashboards and reports
- Scalability for future growth
- Robust security controls
Enterprise Mobile Asset Management
Enterprise mobile asset management allows staff to access, update or manage assets anywhere using smartphones or tablets. Field technicians can receive work orders, update maintenance logs and scan asset tags in real-time.
Benefits include:
- Increased productivity
- Faster response times
- Improved data accuracy
- Reduced paperwork
Enterprise Digital Asset Management Solutions
While EAM has for a long time focused mainly on the physical assets of a business, enterprise digital asset management solutions are growing in importance and influence – managing digital files – documents, images, videos, and software assets – where the solutions will ensure searchability of digital resources and ensure they are secure and accessible to the Organization.
Use cases include:
- Managing brand assets
- Controlling software licenses
- Enforcing version control
- Streamlining creative workflows
Enterprise Asset Management Software Comparison
Before making a purchase, conduct a thorough enterprise asset management software comparison. Evaluate key factors like:
| Feature | Importance | Notes |
|---|---|---|
| Deployment Type (Cloud/On-Prem) | High | Choose based on your IT ecosystem |
| User Interface | High | Easy-to-use UI improves adoption |
| Integration Capabilities | High | Sync with ERP, CRM, CMMS, etc. |
| AI & Predictive Tools | Medium to High | Ideal for long-term ROI |
| Mobile Functionality | High | Necessary for remote teams |
| Vendor Support & Training | High | Critical during setup and scaling |
| Pricing & Licensing | Medium | Ensure transparent pricing |
Best Enterprise Asset Management Software in 2025
Here’s a curated list of the best enterprise asset management software platforms for 2025:
1. IBM Maximo
An industry leader offering AI-driven insights, IoT integration, and scalable cloud-based solutions.
2. SAP EAM
Part of the SAP ecosystem, it integrates asset management with financial and operational modules.
3. Oracle EAM
Designed for large enterprises, Oracle’s EAM software offers predictive maintenance and strong reporting features.
4. Infor EAM
Known for flexibility and mobile functionality, Infor EAM serves various industries including healthcare and manufacturing.
5. AssetWorks
Tailored for government, education, and fleet management. It offers strong reporting tools and lifecycle management.
Benefits of Implementing Enterprise Asset Management
When organizations invest in enterprise asset management software, they gain:
- Improved Asset Lifespan
- Lower Operational Costs
- Better Compliance & Risk Management
- Real-Time Performance Monitoring
- Streamlined Maintenance Schedules
Final Thoughts
No matter if you are a manufacturing company, healthcare organization, power or utility service provider, or logistics company, adopting the best enterprise asset management software is critical to your competitiveness. Knowing the enterprise asset management definition, identifying best practices in the industry, and eliminating bad enterprise asset management decisions will allow for more data-driven decisions that improve asset performance and an organization’s profit.
As the enterprise asset management industry becomes more innovative, modern EAM software integrates with mobile, cloud, AI, and provides greater insight and results. By making deliberate choices and looking into detailed comparisons of functions, you will be better positioned for long-term success in your asset-intensive enterprise.
Frequently Asked Questions
It’s a system that helps organizations track, maintain, and optimize physical assets throughout their lifecycle, improving efficiency and reducing costs.
EAM manages asset lifecycles.
CMMS focuses on maintenance tasks.
ERP handles broader business functions like finance and HR.
Look for asset tracking, predictive maintenance, mobile access, analytics, integration with ERP, and cloud-based deployment.
It leads to downtime, high repair costs, safety issues, and lost productivity—all of which hurt business performance.
Set clear goals, centralize data, automate maintenance, train users, and monitor system performance regularly.