Enterprise Asset Management (EAM) software provider IFS Ultimo has published the latest instalment of its annual EAM Trend Report. Based on interviews with around 300 asset managers, the report is an invaluable resource to those looking to optimise their asset management strategy. The report is available to download here: www.ultimo.com/en-uk/eam-trend-report/.
The report explores the challenges asset managers face in meeting their uptime objectives, improving efficiency, navigating recruitment challenges, mitigating disruption from various internal and external sources, and digitalising their operations. It also looks at areas likely to increase in significance in the future, including sustainability and cybersecurity, outlining what steps forward-looking businesses are already taking to address them.
For example, over 60% of those surveyed stated that they saw the need for mobile-based maintenance practices as being pivotal to boosting efficiency, but 21% felt that not having access to the necessary technology is holding this back. Nearly 40% agreed that investing in the workforce is crucial for futureproofing operations, and saw recruitment problems as the leading cause of disruption in their organisation. Interestingly, most respondents identified ageing assets as the most significant risk to uptime, yet asset longevity didn’t rank high on the list of the most important KPIs.
For optimal useability, the research data is presented in several easy-to-read charts, making it quick for asset managers to gain a comprehensive overview and benchmark their own progress. In addition to peer-to-peer insight, the report also features contributions from leading industry experts from companies including Schneider Electric, Royal Philips N.V., Verdantix, ICT Group and Logitek.
“With the disruption brought on by the pandemic, widespread supply chain challenges and material shortages, the impending skills gap, and the skyrocketing energy costs, asset owners have a lot on their plate,” says Ewout Noordermeer, CMO, IFS Ultimo. ”This report offers the latest data to help asset managers benchmark their performance against their peers, discover new and to use their challenges to fuel positive change. It’s clear that data-driven decision-making, optimal cross-team collaboration and smart use of technology is vital, now and in the future.”
To download the report, visit www.ultimo.com/en-uk/eam-trend-report/
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