The Rise of Asset Performance Management (APM) Software

In the late 1990s, Asset Performance Management emerged as a software and service solution meant to improve a business’s ability to get the most out of its assets. This was made possible by the increasing sophistication of digital controls, desktop computers, and data.

What is Asset Performance Management?

Asset Performance Management is a plan of action that helps your organization’s people, processes, and technology work together for long-term success. Investing in enterprise-level APM solutions that help companies recognize the organizational changes needed to allow process modifications across functional teams and enable a continuous improvement culture is essential if customers want to achieve the transformative value they want.

In addition to managing assets, AMP is a strategy that emphasizes business goals in addition to the more conventional dependability and availability of assets. There has been a significant shift toward APM as a key facilitator of digital transformation for asset management in the industrial sector. Combining traditional asset management methods with cutting-edge digital technology has led to huge improvements in areas like reliability, maintenance execution, and financial results.

CloudApper CMMS

Mobile App For Simplifying Asset Repairs
& Preventative Maintenance

Reduce Machine Downtime

Manage Multiple Sites In One Place

Improve Operational Efficiency & Productivity

Contact Us

Therefore digital transformation in asset and risk management, users are happy with on-time deliveries and product quality, and businesses are making more money.

The Benefits of Asset Performance Management

Downtime Minimization
Failure of assets, usually due to neglect or mistreatment, is the leading cause of unscheduled downtime. Asset performance monitoring and proactive maintenance can help reduce the chance of equipment breaking down and increase the equipment’s lifespan.

Cost Minimization
Predictive maintenance doesn’t eliminate the need for repairs, but it may significantly reduce the cost of those repairs. Insights obtained by APM processes may aid in avoiding unnecessary maintenance. It also guarantees that all maintenance resources are used to their full potential. 

Risk Minimization
Risks, such as injuries to employees, may be reduced by better asset performance management. For example, an equipment operator might sustain injuries in the event of a malfunction. To avoid future catastrophes, AMP may alert stakeholders to assets in need of maintenance before they become dangerous.

Using CMMS for AMP

To be effective, APM must have access to a broad variety of business and asset information. Data silos emerge when businesses utilize incompatible software solutions for different activities. Companies with disjointed digital ecologies will have a harder time implementing APM. One answer to this issue is to implement a computerized maintenance management system (CMMS). It’s a digital hub that compiles and displays every relevant fact about an organization’s assets. Additionally, AI-driven CloudApper CMMS has various capabilities that aid in the management of asset performance. Completely centralized asset data management helps with organizing, planning, and executing cutting-edge maintenance techniques. Including preventive and predictive maintenance for real-time asset monitoring, asset tracking, and maintenance.  

In any case, when combined with CMMS software, the APM increases the dependability and usability of assets. Coordinating the asset lifecycle management operations, including performance, maintenance, audits, and information management.