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Day: December 12, 2018

  • Introduction When considering implementing Enterprise Asset Management (EAM) software, one of the major elements your company will need to consider is cost. Downsides to EAM implementations: Implementation of large software solutions can be a pricey endeavor. There are costs associated with the software itself, with consulting, with tax on internal resources, and with the initial slow down after implementation when users are getting used to the new processes and system. Finding budget funds to cover a project of this length and complexity might require much effort on the part of upper management committees and other stakeholders. It may be up to you to justify the high cost of implementation. This probably doesn’t make an EAM project sound like a very appealing idea. That is why we are here to explain why the long-term benefits and return on investment (ROI) outweigh the issues described above. Pricing options in today’s EAM market: EAM solutions offer different types of pricing options. – Tiered model pricing allows users to choose a simpler package if the full solution is not within your budget and not necessary for your organization. – Module based pricing prices software based on the number of modules which need to be activated by your organization in order to implement. In addition to core modules, the software provider normally has a large selection of possible system areas that can be turned on or left off depending on your needs. – Pricing based on the number of users who will access the software can be a less expensive option if your organization only has a few individuals who need to access the software. – Pricing based on the number of assets is also sometimes offered by EAM solutions. ROI through EAM software: Now that we have looked at the different types of pricing,...