EAMaaS provides clear pathway to the future of asset management

In this second article in our series on the future of asset management, we look at how COSOL’s upgraded Enterprise Asset Management as a Service (EAMaaS) solution has been designed to provide the strong digital foundations and a clear pathway for organisations to be ready for the future of asset management.

At a glance:

The future of asset management is becoming increasingly sophisticated, driven by digital technologies like AI, IoT, Machine Learning (ML) and data.
Organisations need an advanced EAM solution within a robust platform to effectively integrate these technologies, data and capabilities.
COSOL's recently upgraded EAMaaS solution has been designed to support those organisations who want to improve their asset management capabilities and ensure they have the right technologies, applications and foundations to remain competitive and sustainable in the future.

As highlighted in our first article ‘Establishing strong digital foundations for the future of asset management’, the future is poised to become increasingly sophisticated and exceptionally data-heavy. Leveraging digital technologies such as AI, IoT, ML and digital twins in combination with this vast amount of data will provide organisations with the real-time insights into asset and operational performance to make data-driven decisions.

With the right technologies and applications in place, organisations can use predictive and prescriptive analytics to help them maximise the value of their assets throughout the assets' entire lifecycle from acquisition to disposal - ultimately leading to reduced unplanned downtime, risk, costs and waste.

The foundations needed to support future technologies

Establishing the robust digital infrastructure capable of integrating these diverse data sources and array of advanced technologies is a critical first step towards embedding advanced asset management capabilities. Additionally, a strong Enterprise Asset Management (EAM) solution needs to be the central hub for all asset-related information and processes and one that can ensure scalability and adaptability in rapidly changing environments.

An EAM solution must be capable of:

Integrating data from multiple sources, including IoT sensors, mobile devices, and legacy systems.
Providing a unified platform for asset tracking, maintenance scheduling, and performance analysis.
Leveraging AI and machine learning to enable predictive maintenance and optimise asset performance.
Offering robust reporting and analytics capabilities to support data-driven decision-making.
Scalability to accommodate growing asset portfolios and evolving technological landscapes.
Be supported by experts who understand asset management and how to integrate these emerging technologies with minimal business disruption.

COSOL’s Enterprise Asset Management as a Service (EAMaaS) solution is an all-inclusive fully managed cloud-based solution for your asset information ecosystem that has recently been upgraded to reflect the changing needs of asset-intensive organisations amidst these advancements in technologies and the proliferation of data.

At the heart of EAMaaS is IBM Maximo Application Suite (IBM MAS)- the market leading EAM solution as rated by Gartner. IBM MAS provides access to a comprehensive suite of advanced tools to monitor, manage, and maintain assets. Additionally, IBM MAS’s modular configuration on EAMaaS enables easy scalability and access to the following built-in features:

AI-powered predictive maintenance capabilities
IoT integration for real-time asset monitoring
Advanced analytics for performance optimisation
Cloud-based deployment for scalability and flexibility
Mobile support for field technicians

What's included in a fully managed EAMaaS solution?

While the benefits of a robust EAM system like IBM Maximo Application Suite are clear, implementing and managing such a system, related third-party applications and data can be challenging for many organisations. With EAMaaS, we take care of all technical design and essential system maintenance, allowing your teams to focus on their core competencies and asset management - not IT and admin.

Each instance of EAMaaS is designed, configured and managed by our enterprise asset management experts to meet the specific needs and asset management maturity goals of each organisation.

With EAMaaS managed by COSOL, organisations can focus on the core business and managing their assets while benefiting from state-of-the-art asset management capabilities. Additionally, EAMaaS allows for a more agile and cost-effective implementation of advanced asset management strategies which help organisations stay competitive in an increasingly complex technological landscape. As the future of asset management continues to evolve, having a flexible, integrated, and scalable solution that is managed by experts, will be crucial for organisations looking to maximise asset performance.

The key components of COSOL's EAMaaS are:

Platform: A fully managed cloud platform where all technical, design and essential system maintenance is taken care of including software patching, updates, backups, and cyber security to international standards.
Productivity Accelerators pre-configured tools and processes to get you working quickly including extended asset health functionality for deeper insights.
Software & Integrations IBM Maximo Application Suite and related third party applications as part of your asset information ecosystem of systems.
Platform support Unlimited 24/7 platform support to report system bugs or issues with availability.
End-user support ITIL-aligned, SLA driven support for business-as-usual requests.
Service Level Agreement measured against client goals and reported monthly.
Expertise: a solution designed and managed by asset management experts

COSOL's EAMaaS expertise

COSOL have been providing EAMaaS to organisations since 2017 with particular experience in delivering solutions for water & energy utilities, public infrastructure, transportation and governments. Below are a few examples of how we have helped our clients:

Since 2017, a leading diversified logistics infrastructure and solutions provider in Australia and New Zealand have trusted COSOL to deliver Asset Management Information Systems (AMIS) solutions and continual improvements to its asset management processes and systems.

This included the transition of the clients on-premises EAM platform to IBM Maximo Application Suite on an EAMaaS subscription and identified asset management remediation and improvement opportunities by delivering an Optimisation Roadmap.

In addition, the 24/7365 Application Managed Support helps ensure that the critical systems as part of the asset information ecosystem are continuously available and always up-to-date.

For the client, this complete managed EAM solution has helped improve maintenance and schedule predictions, and establish faster, more efficient asset management processes based on comprehensive asset data that is readily available.

Working with a leading infrastructure JV in Australia, COSOL deployed IBM Maximo Application Suite as part of an EAMaaS solution to enable operation and maintenance services for the tunnels and motorways that make up the vast and complex network of this major infrastructure project.

The client chose COSOL’s enterprise-grade EAMaaS solution to reduce risks associated with security, disaster recovery, and platform availability.

As well as transitioning data on locations, assets, meters, job plans, and planned maintenance schedules, the solution allowed the client to automate asset performance reporting, and implement mobile (paperless) inspections while being fully supported with a customised Application Managed Support program.

The integrated asset information ecosystem developed under the EAMaaS meant the client could scale as the project moved into the ‘Operate’ and ‘Maintain’ phases and allowed them to extend their EAM operations to support emerging capabilities.

COSOL has been providing services to assist a major State Government Agency in Victoria, Australia manage its' geographically dispersed and diverse asset portfolio since 2019.

The organisation manages over 4 million ha of land, marine parks and reserves which services over 100 million visitors per year.

COSOL designed and implemented an asset management solution (EAMaaS) to meet mandatory requirements of the agency's asset management accountability framework. This fully managed SaaS solution comprised of IBM Maximo, Esri ArcGIS, FME and Mobile solutions.

The integrated, spatial-enabled solution was accessible via both desktop and mobile devices to empower over 600 park rangers and staff to improve asset performance by giving them asset information and work orders where and when they needed it.

The included Application Managed Support for both IBM Maximo and Esri ArcGIS allowed for identification of continuous improvement opportunities as well as peace of mind.

Discover how an EAMaaS solution can help your organisation

Request an online or in-person consultation with one of EAM solution experts to discover how EAMaaS could support your EAM now and provide the pathway forward to achieving your asset management maturity goals.

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