IFS EAM Reviews & Pricing

Key Features

• Plant Engineering: Captures early stage costs and stores asset data to accurately record vital information for audit trails, maintenance operations and more.
• Document Management:Records and manages changing asset specifications such as maintenance records, meter readings and more. Also manages all contractor interactions directly through the app, including cost analysis, external engineering, maintenance contractors and construction contracts.
• Maintenance Management: Offers organization maintenance and a range of maintenance tasks including preparation, fault reporting, execution and final reporting.
• Inventory Management: Tracks inventory metrics such as spare parts or small equipment. Notes the number of materials in stock and displays detailed information on each item, such as model number and type, and sends notifications if supplies need to be reordered.
• Fleet Management: Offers serialized parts control, preventive maintenance, operational planning and modification management to streamline the fleet management process.
• MRO: Supports a range of maintenance, repair, overhaul (MRO) tasks, including quotation handling, configuration management and maintenance execution. Also offers warranty handling, cost tracking, supply chain logistics and invoicing.
• Materials Management: Place purchase orders, source materials through the RFQ process, monitor and compare vendor progress against order terms, and manage tracking and receipt of goods delivered.
• Business Intelligence: BI reports and models are accessible through the Microsoft Suite, IFS Lobby and many other popular reporting and analysis tools.
• Facilities Management: Aids facility planning and maintenance tasks such as automatically shutting off lights, monitoring meter usage and remotely setting HVAC controls.

Approach to Common Challenges

• Reactive Maintenance: IFS EAM's predictive maintenance capabilities utilize data analysis and machine learning to anticipate equipment failures, enabling proactive scheduling and reducing unplanned downtime.
• Data Silos and Lack of Visibility: IFS EAM provides a centralized platform for integrating data from various sources, including sensors, maintenance records, and financial systems, offering a holistic view of asset performance and operations.
• Inefficient Work Management: IFS EAM's work order management system streamlines work scheduling, assignment, and execution, optimizing resource allocation and improving technician productivity.
• Inventory Management Challenges: IFS EAM's inventory management features ensure optimal stock levels of spare parts, minimizing downtime due to stockouts and optimizing spare parts inventory costs.
• Compliance and Regulatory Requirements: IFS EAM facilitates compliance with industry regulations by providing audit trails, reporting tools, and adherence to specific data security standards.
• Lack of Mobile Access: IFS EAM's mobile app allows technicians to access work orders, update progress, and report issues in real-time, improving communication and collaboration.
• Limited Reporting and Analytics: IFS EAM offers comprehensive reporting and analytics dashboards, providing insights into asset performance, maintenance trends, and cost drivers, enabling data-driven decision making.

Limitations

• Doesn’t provide scope for customization.
• Limited set of inbuilt standard report formats.
• Lengthy implementation time.
• Limited functionality for field service and mobile workforce support.
• Doesn’t support requirement management.

Suite Support

Cost of Ownership

• Q: What is the typical cost range for IFS EAM?
  A: The cost of IFS EAM varies significantly depending on factors like deployment type (cloud vs. on-premise), number of users, and required modules. Generally, the price range falls between tens of thousands to hundreds of thousands of dollars annually, paid on a subscription basis. For example, a small company with basic needs might pay around $50,000 per year, while a large enterprise with extensive requirements could be looking at $300,000 or more.
• Q: What additional fees are there beyond the base software license?
  A: Besides the base license, users can incur additional costs for implementation, training, customization, and ongoing support. Implementation fees often range from 15% to 30% of the license cost, while training can cost several thousand dollars per user. Customization and ongoing support are typically billed hourly, with rates varying depending on the complexity of the project and the vendor's expertise.
• Q: What are the return on investment (ROI) considerations for IFS EAM?
  A: While the upfront cost of IFS EAM might seem high, potential ROI can be substantial. Quantifiable benefits include increased asset uptime, reduced maintenance costs, improved operational efficiency, and extended asset lifecycles. For example, a manufacturer using IFS EAM might see a 10% reduction in downtime, leading to increased production output and significant revenue gains. Additionally, the improved asset management practices can lead to longer equipment life, further reducing overall costs.

Demo Resources

• IFS Website: Explore the IFS website's dedicated EAM page, featuring product overviews, case studies, and a detailed demo request form.
• Gartner Peer Insights: Gain valuable insights and real user experiences through Gartner Peer Insights, where existing IFS EAM users share their feedback and case studies.
• Industry-Specific Webinars: Attend regularly held industry-specific webinars hosted by IFS, showcasing how the software tackles challenges within specific sectors.
• Independent Analyst Reports: Access independent analyst reports, such as Forrester Research or IDC MarketScape, for in-depth product evaluations and comparisons.
• Live Demos with IFS Experts: Schedule a personalized live demo with an IFS expert to gain a tailored understanding of the software's functionalities and address specific questions.

FAQ

• Q: How easy is it to integrate IFS EAM with other enterprise systems?
  A: IFS EAM boasts extensive integration capabilities with various enterprise systems, including ERP, CRM, and MES solutions. Pre-built connectors and open APIs facilitate seamless data exchange and process automation, promoting greater operational efficiency and data accuracy.
• Q: How does IFS EAM handle mobile accessibility and field service needs?
  A: IFS EAM offers a robust mobile app that empowers technicians with real-time access to work orders, asset information, and service reports. This allows for efficient work execution, remote data capture, and improved communication between field teams and back-office staff.
• Q: What customization options are available for IFS EAM to adapt to specific industry requirements?
  A: IFS EAM offers a flexible and configurable platform that allows for tailored solutions to meet industry-specific needs. Users can customize workflows, data fields, reporting formats, and dashboards to ensure the software aligns perfectly with their unique operational requirements.
• Q: How does IFS EAM ensure data security and compliance with industry regulations?
  A: IFS EAM prioritizes data security by implementing robust access controls, encryption protocols, and audit trails. The software adheres to strict industry regulations, including HIPAA and ISO 27001, providing confidence in data privacy and compliance.
• Q: How does IFS EAM scale to accommodate future growth and changing business needs?
  A: IFS EAM provides scalable architecture that can adapt to growing asset bases and evolving business demands. The modular design allows for easy expansion and integration of additional functionalities as required, ensuring the system remains relevant and valuable over time.
• Q: What are the benefits of using AI and machine learning within IFS EAM?
  A: IFS EAM leverages AI and machine learning to automate repetitive tasks, predict equipment failures, optimize maintenance schedules, and improve decision-making. This empowers organizations to achieve predictive maintenance, streamline operations, and reduce overall maintenance costs.