What Are the Advantages of Cloud-Based Asset Management for Business Operations?

9 benefits of cloud-based EAM software

HxGN EAM, previously known as Infor EAM, has now been introduced in a multi-tenant cloud environment. This advanced platform remains a top-tier asset management tool, facilitating the transformation of Enterprise Asset Management (EAM) into Asset Performance Management (APM). This evolution aims to prolong asset lifespan and enhance productivity. Opting for Software as a Service (SaaS) technology for your EAM solution over traditional on-premises models offers various business advantages and cost savings.

1. Stay up-to-date with EAM Software Updates:
Timely software updates ensure that you can promptly leverage new features, stay compliant with evolving regulations impacting asset management, and fortify your systems with the latest security patches. Unlike traditional on-premises setups where updates might take 12-18 months to roll out, cloud-based users have immediate access to these changes without any downtime for upgrades.

2. Harness Data Insights:
Cloud solutions empower organizations to delve into advanced data analytics for deeper asset understanding and control. By leveraging innovative cloud technologies, you can analyze vast amounts of data, including unstructured data like videos, texts, and emails, alongside structured data such as IoT sensor data. AI and Machine Learning tools can extract valuable insights from this data, enabling better decisions regarding asset maintenance and procurement.

3. Liberate Your IT Team:
Adopting SaaS solutions offloads non-strategic IT tasks like software and server maintenance to the service provider. This frees up your IT team to concentrate on optimizing asset performance and enhancing operational efficiency.

4. Reduce Capital Expenditure (CapEx):
Cloud subscription models eliminate the need for significant upfront investments in software and hardware. Instead, they offer flexible payment plans based on usage, allowing for smarter spending strategies and increased IT budget agility.

5. Scalability and Agility:
Cloud-based EAM solutions can seamlessly adapt to organizational changes, whether it’s onboarding new assets, expanding into new regions, or incorporating new business areas. Additionally, cloud infrastructure provides scalable storage and resources, ensuring smooth operations even during peak demands.

6. Reliability, Disaster Recovery, and Availability:
Multi-tenanted cloud environments guarantee business continuity with secure and reliable platforms. Automatic backups and mirroring of critical applications and data ensure resilience against unexpected events, while seamless upgrades prevent any downtime.

7. Enhanced System Security:
SaaS environments benefit from continuous monitoring by service providers, reducing the need for costly internal security resources. Partnerships with leading cybersecurity experts ensure robust protection against external threats and regulatory compliance.

8. Accessibility On the Go:
Mobile access to EAM data enables technicians, inventory managers, and other stakeholders to perform tasks and access information from anywhere. Whether on-site or traveling, users can seamlessly interact with the EAM system through web browsers or mobile devices.

9. Reduced Carbon Footprint:
Embracing SaaS solutions leads to a lower carbon footprint by eliminating the need for physical servers, as all operations are conducted in the cloud.

About Spectades

Our experienced EAM consultants are ready to guide your organization in implementing and optimizing HxGN EAM software. With Spectades as your partner, you can count on expert guidance, customized EAM solutions, and seamless implementation that will elevate your asset management processes to new heights. Contact us today to discover how Spectades can help your organization leverage the benefits of HxGN EAM software.

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