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Highlights
- A guided, coherent strategy to enterprise asset management (EAM) effectively utilizes capital spent on critical asset maintenance across various stages of the asset’s life cycle.
- TCS Connected Assets Services transcend the asset management paradigm with contextualized solutions across an asset management maturity framework driven by ISO 55000 standards.
- Our approach to EAM includes discovery, definition, and delivery of key themes which optimizes asset management processes to fulfil consumer and stakeholder priorities.
In this article
Overview
Aging assets, unplanned downtime, siloed knowledge bases, and higher maintenance spends can impede organizations in asset-intensive industries.
Business operations are constantly evolving and becoming more complex. Enterprises across utilities, manufacturing, life sciences, and other industries are constantly striving for uninterrupted operations to uphold customer and stakeholder satisfaction. Global enterprises spend nearly 40% of their investment on managing physical assets across geographies. Despite this, maximizing the assets’ value throughout its life cycle remains a challenge.
Enterprises need to implement effective asset management techniques that align with the ISO 55000 (erstwhile PAS55) standards. Adopting asset management best practices too can help address the above challenge.
Solution
Contextualized EAM services that span the entire asset life cycle
TCS Connected Assets Services take an innovative approach to EAM. The solution enables integrated asset performance management by collating EAM data (asset history, inspections) with real-time data and asset failures. It provides asset health (criticality scoring), asset risk and intervention with AI-driven predictive analytics and expert decision making. With TCS Connected Assets Services, enterprises gain a 360-degree view of their assets with qualitative decision making across the assets’ defined strategy, planning, and execution stages.
Following an asset maturity framework, the solution provides contextualized EAM services for the above stages of the asset life cycle. Aligned to ISO 55000, the framework categorizes an organization’s asset and maintenance maturity levels and then chalks out a roadmap accordingly.
Features:
EAM consulting and transformation services: Ensure alignment with customer vision and maturity across EAM and the associated ecosystem.
EAM audits, compliance, and roadmap definition: Conduct ISO 55000-guided maturity assessments, share recommendations aligned with industry best practices, and define roadmaps detailing the investment needs and potential benefits.
Asset performance and optimization services: Enable risk-based asset strategy optimization to enhance safety, integrity, and reliability.
Field service management: Optimize work scheduling, dispatch, and field work completion through automated optimization techniques and addressing worker safety concerns.
Predictive and digital twin services: Enable real-time asset health monitoring and risk scoring. Develop failure prediction models for productivity enhancement of operations and field technicians using TCS’ proprietary solutions such as InTwin™, IP2™, DMP—all compatible with leading hyperscalers.
Benefits
Gain greater operational efficiency and continuity to unlock exponential value of enterprise assets.
15–25% reduced operational costs through optimized preventive maintenance schedules and failure prediction of critical assets.
5–10% increased asset availability and uptime.
Proactive instead of reactive intervention to reduce maintenance spends.
Connected workforce plus technicians with strict regulatory compliance for better agility and performance.
Comprehensive environment, health, and safety measures and improved asset reliability.
Improved asset strategy definitions and planning through faster data-driven decision making.
The TCS advantage
With more than two decades of experience in EAM, we help enterprises transform their critical assets landscape.
Dedicated EAM Center of Excellence to support end-to-end EAM transformation by bringing in cross-industry expertise across diverse domains and functional and technology areas.
Product-agnostic business requirement analysis and fitment, with expertise across leading EAM platforms such as IBM Maximo Application Suite (MAS), Hexagon and Infor EAM, SAP IAM, GE APM and Meridium, Copperleaf Suite, and Salesforce Field Service.
Premium partner for leading EAM product vendors, aligning solutions with product roadmaps and enhancing product functionalities to meet evolving industry needs.
Business process maps for all industry segments to ensure EAM transformations are guided by industry-leading best practices rather than product-specific functionalities.
Ready-to-deploy tools and solution accelerators such as TCS Transport Asset Management solution and Crystallus™.