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Table of Contents

• What is Equipment Maintenance Software?
• The benefits of Equipment Maintenance Software
• Typical features of Equipment Maintenance Software
• The cost of Equipment Maintenance Software
• Considerations when purchasing Equipment Maintenance Software
• Relevant Equipment Maintenance Software trends

What is Equipment Maintenance Software?

Equipment Maintenance Software helps facility managers track equipment and automates the process of managing equipment usage, distribution, and preventive maintenance schedules. Equipment maintenance software integrates disparate business functions such as accounting, contract management, invoicing, and customer relationship management into one convenient tool.

The benefits of Equipment Maintenance Software

• Keeps everyone informed about scheduled maintenance and repairs: Equipment maintenance software can generate alerts at each stage of the maintenance schedule, sending customized emails/notifications to relevant stakeholders so they remain aware of when the equipment will be unavailable and for how long.
• Streamlines equipment maintenance: To have an effective, smooth workflow, businesses need functioning equipment. Sudden mechanical failures/unavailability can halt productivity. Equipment maintenance solutions can help avoid this by streamlining maintenance schedules, sending alerts and repair information to reduce machinery downtime.
• Procurement planning: Equipment maintenance software allows managers to document anticipated and actual equipment lifespans, enabling the design of an equipment procurement strategy to ensure a continuous supply for daily tasks.

Typical features of Equipment Maintenance Software

• Equipment tracking: Track the location of specific equipment at all times.
• Maintenance scheduling: Schedule advance or ad hoc maintenance services and labor requests.
• Inventory control: Monitor stock levels of spare parts and other items.
• Preventive maintenance: Schedule advance maintenance based on date/time or event-based triggers.
• Reporting/analytics: View and track pertinent equipment metrics.

The cost of Equipment Maintenance Software

Most products in this market are priced on a “per user, per month” basis. They can be divided into three pricing tiers based on their starting price.

Price ranges*:

• $15 - $30
• $30 - $44
• $44+

*The pricing included is for the entry-level/lowest-priced offering found on vendor websites on December 10, 2019. These ranges correspond to the 25th, 75th, and 100th percentiles of pricing information gathered from vendor websites of sample products.

The above list summarizes pricing for the base plans of most products. An enterprise product that is priced higher may include additional features such as automated workflows, unlimited equipment assets, multiple locations, asset lockout tagout, advanced reporting, and Slack integration.

Considerations when purchasing Equipment Maintenance Software

• Mobility options: Mobility is a critical selection factor when choosing the right equipment maintenance software, especially for technicians working with a fleet of vehicles. Consider investing in a solution that provides a mobile application to ensure your users in the field can access work orders, generate new orders, track inventory, and perform other valuable tasks on the go.
• Implementation and customer support: When selecting equipment maintenance software, ask the vendor about their implementation process and timeframe, as well as what customer support options will be available post-purchase. Select a solution that fits your timeframe requirements and provides comprehensive support for any troubleshooting you may require down the line.

Relevant Equipment Maintenance Software trends

• 3D printing is alleviating operation disruption: For older machines and equipment, it can be difficult to locate spare parts. 3D printing can help by creating custom replacement parts, even discontinued ones. Continued adoption of this technology will reduce inventory costs, extend the lifespan of outdated assets, and alleviate disruption caused by unavailable spare parts.
• Internet of things (IoT)-enabled predictive maintenance is a game-changer: Manufacturers are increasingly using sensor-based internet-connected equipment that automates the data-collection process to make more informed, strategic decisions. Enabled equipment helps managers anticipate component failures in advance, thus reducing reactive maintenance costs, unplanned outages, and equipment downtime. Predictive maintenance is one of the top use cases driving IoT market growth through 2020.