Best of Both Worlds – Combining EAM and FSM for Better Service Delivery

Author:

Jayaram Suresh

Business Development Manager – UK&I, Tech Mahindra

In today's fast-moving business world, providing great services isn't just a goal; it's a necessity. Think of efficient service delivery as the key to a well-oiled machine, where things not only work well but also work fast. It's the secret that keeps customers happy, builds loyalty, and makes businesses shine.

So, how do you brew this magic potion? There are two essential ingredients: enterprise asset management (EAM) and field service management (FSM). EAM is the strategic powerhouse managing assets, and FSM conducts on-the-ground operations. They each have unique roles, but what's even more interesting is how they come together to turn businesses into winners. Together, they form the backbone of service excellence. But before we delve deeper into the convergence of EAM and FSM, let’s first look at the micro-trends defining service delivery in 2024 and beyond.

Before going through the parallels between EAM and FSM, click here to get in touch with IFS leadership at Tech Mahindra.

An Improved Service Delivery Model is a Modern Imperative

The evolution of service delivery models is driven by multiple factors. The demand for real-time responsiveness and customer-centric approaches has become increasingly pivotal as organizations strive for agility and adaptability. Today's trends underscore the significance of streamlined processes and technologies that can swiftly adjust to the ever-changing landscape of consumer expectations of the future.

Amid these shifts, businesses are recognizing a growing need to:

• Deliver consistent, repeatable, and compliant services.
• Improve technician utilization and productivity.
• Increase service margins and revenue.
• Enhance the first-time fix rate.
• Boost customer satisfaction and improve the overall experience.
• Reduce unnecessary travel and associated costs.
• Improve asset uptime while minimizing outages.
• Leverage organizational knowledge for smarter operations.
• Embrace outcome-based contracts to align services with customer outcomes.

EAM and FSM: Two Sides of the Same Coin

In service delivery optimization, EAM and FSM emerge as distinct players, each with a unique role yet converging on a shared objective: enhancing service delivery. EAM, with its holistic approach, oversees assets throughout their entire lifecycle, ensuring strategic management and maintenance. Conversely, FSM specializes in the real-time orchestration of on-the-ground field services. Together, they form a powerful alliance, creating a seamless synergy that unlocks new possibilities.

Shared goals:

EAM and FSM align in their pursuit of optimizing assets and ensuring the efficiency of field service operations. While EAM focuses on the strategic management of assets to maximize their lifespan and performance, FSM is dedicated to real-time field service coordination, ensuring timely and precise execution. The amalgamation of these shared goals results in a unified strategy that elevates overall service delivery.

Distinct application spaces:

Understanding the unique strengths of EAM and FSM is key to unlocking their full potential. EAM, with its comprehensive approach, navigates the entire asset lifecycle—from acquisition to disposal. On the flip side, FSM thrives in the real-time management of field service operations, ensuring that tasks are executed with precision and in alignment with customer expectations. Recognizing and respecting these distinct application spaces is crucial in harnessing their synergies.

As we delve deeper into the integration of EAM and FSM, it becomes evident that their collaboration transcends individual capabilities, creating a unified force that optimizes service delivery in ways previously unexplored.

Integrating EAM and FSM – The Road Ahead

The true magic happens when EAM and FSM seamlessly come together. This integration isn't just about merging systems; it's about creating a unified approach that capitalizes on the strengths of both. Information flows effortlessly between asset lifecycle management and real-time field service operations.

Doing it the TechM Way

Embracing its DigitALL philosophy, TechM stands as a pioneer in driving extensive business transformations through strategic partnerships with original equipment manufacturers (OEMs). TechM offers a unique opportunity for companies in various industries, including energy, utilities, construction, telecommunications, and more, to harness the power of integrated EAM and FSM solutions. The IFS cloud, designed to meet complex asset demands, aligns perfectly with TechM's commitment to delivering cutting-edge solutions and facilitating seamless integration for organizations ready to embrace the future of service excellence.

Click here to know more and get in touch with the IFS leadership at Tech Mahindra.

About the Author

Jayaram Suresh
Business Development Manager – UK&I, Tech Mahindra

With over 11 years of experience across the ITES, banking, fintech and mobility sectors, Jayaram is currently focused on new business development and key account management in the Tech Mahindra Diversified Industry Groups UK&I practice.