An enterprise asset management software helps you manage your digital assets and optimize their life cycles. Here’s a comparative guide on the two top enterprise asset management solutions: IBM Maximo and Oracle Asset Management.

What Is an Enterprise Asset Management Software?

An enterprise asset management software is defined as a centralized combination of systems, software, and services that lets an enterprise track vital details related to critical assets. Enterprise asset management software is highly sought-after across enterprises in diverse sectors to monitor, control, and maintain various assets and equipment operability at all times.Â

The key purpose of enterprise asset management software is to improve the quality of the crucial enterprise assets and optimize their lifecycle and overall productivity. Enterprise asset management systems have wide-ranging use cases.Â

This article will review two famous enterprise resource management software â€“ IBM Maximo and Oracle Asset Management- based on their features, strength, and usage.

What Is IBM Maximo?

IBM MaximoOpens a new window is a popular enterprise asset management software used by many leading enterprises. It is also known as IBM Maximo Manage and is a fully integrated asset management platform equipped with advanced analytic tools.Â

IBM Maximo’s advanced IoT data enables enterprises to optimize the operability of their key assets and extend their life cycle. The software provides a compact and competitive solution to accommodate the requirements of an enterprise related to the management of assets, diverse processes & schedules while improving the efficiencies of the inventories and expenses significantly. Some of the top companies that use IBM Maximo are Duke Energy Corporation, Enbridge, and Gilead Sciences, to name a few.

What Is Oracle Asset Management?

Oracle Asset Management or Oracle Enterprise Asset ManagementOpens a new window is another well-known enterprise asset management software solution. It offers an all-in-one solution for monitoring and optimizing the efficiency and life cycles of the main assets of an enterprise.Â

Equipped with condition-based asset management principles, it ensures quality compliance and incorporates the best practices for enterprise assets. Some of the leading companies using Oracle Asset Management are Limak Group of Companies, USANA Health Sciences, Wells Enterprises, and G.James, to name a few.

**A Glance at Oracle Asset Management Software**

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H2 Comparative Overview of Features Offered by
IBM Maximo and Oracle Asset Management

Feature/Solution	IBM Maximo	Oracle Asset Management
General CMMS Functionality	Range/format/logic error checking as per the user requirements	Range/format/logic error checking as per the user requirements
Financial features & solutions	Offers a range of solutions but through third party support or modification	Offers fully supported financial features & solutions
Purchasing management	Efficient	Efficient
Inventory management	Offers fully supported solutions	Only a few solutions available upon modification
Reliability & security	Offers basic solutions	Offers fully supported competitive solutions
Human Resources	Basic features and no listings for postings, positions, and applicable codes	Listings for postings, positions, applicable codes and resumes forwardingÂ
Table Settings â€“ Expand all details Expand all scores Collapsed view Priority order	More efficient in terms of all such functionalities	Less efficient compared to IBM Maximo
Creating notes within an asset	Fully supported feature	Fully supported feature
Creating and viewing asset hierarchy	Fully supported feature	Fully supported feature
Creation of asset categories	Fully supported feature	Fully supported feature
Generating QR codes or bar codes	Supported with partner integrations	Not supported
Import Existing Assets from CSV	Fully supported feature	Fully supported feature
Linear Asset Management	Supported with additional modules	Various linear asset management features are fully supported
Ease of deployment	Easier to deploy compared to Oracle Asset ManagementÂ	Moderately simple to deploy
Analytics & Reporting	Advanced analytics & reporting solution	Not so advanced in terms of providing analytics & reports
Availability of Third Party Resources for Integration and Deployment	AvailableÂ	Available
Work scheduling	Efficient	Efficient
Inventory management	Competitive solution	Competitive solution

Features Review of IBM Maximo and Oracle Asset Management

Based on our research, here is a comprehensive review of the features offered by IBM Maximo and Oracle Asset Management software.

Linear asset management

Linear asset management is a vital feature of any enterprise asset management software. This feature offers the solution to efficiently manage the life cycles of the linear assetsOpens a new window of an enterprise to let them align with their business goals.Â

IBM Maximo’s linear asset management feature is supported with additional modules. It requires users to opt for the right modules as per their requirements to manage various technical systems with linear infrastructure that include dynamic segmentation. While this caters to the enterprises’ linear asset management requirements, it is not that simple and fast to utilize this feature of IBM Maximo.

In Oracle Asset Management, enterprise users get a wholly supported linear asset management solution to optimize the life cycles of their linear assets without needing to opt for the right set of supported modules. As a result, the process becomes faster and easier to execute.

Verdict: Based on the above analysis, Oracle Asset Management is the winner here as it offers a fully supported linear asset management solution.

General CMMS functionality

CMMS or computerized maintenance management system refers to a software solution that enables enterprises to manage various assets while implementing an efficient monitoring and maintenance process.

IBM Maximo offers a competitive CMMS solution that comes with range error-checking associated with diverse fields, format & logic error checking as per the requirements of an enterprise, as well as general range error checking. The feature is in-built here, so you don’t need any additional tools or add-on integration to use it.

On the other hand, Oracle asset management offers a compact CMMS feature that includes range/format/logic error-checking as per the requirements of an enterprise. But these solutions come with modifications that require additional time and effort.

Verdict: Based on the above analysis, IBM Maximo is the clear winner here as it offers an easy and in-built CMMS solution.

Financial features & solutions

Financial features & solutions are essential for any asset management software. IBM Maximo offers a range of features such as auto-check before financial records deleting, balance sheet accounts translation, and others as per the financial requirements of an enterprise. But these all features can be availed by third-party support or through modification.

In Oracle Asset Management, there is a range of fully supported financial features such as modifications of cross-charge percentages without affecting or modifying other published financial records and information and balance sheets translation along with implementing default rates, to name a few. Also, it offers the auto-check feature for financial information upon modification.

Verdict: As we can see from the above analysis, Oracle Asset Management is the winner for offering a more comprehensive range of in-built and fully supported financial features.

Purchasing management

Purchasing management is a significant feature of any enterprise asset management system that determines its efficiency. IBM Maximo’s compact range of features helps enterprises easily meet their purchasing management goals. Its features include suppliers’ data field management for various data types like shipping process, product details, references, associated conditions, and others. Also, it offers full management for the stores’ and suppliers’ purchase-related activities, including information like store website, vendor profiles, suppliers’ details, and others.

Oracle Asset Management also offers a competitive purchasing management solution to handle and optimize purchase-related assets and activities. It includes supplier data and store data management, supplier information, shipping methods, and other details management, to name a few.

Verdict: As per the above analysis, both IBM Maximo and Oracle Asset Management are user-friendly in terms of purchasing management.

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Inventory Management

IBM Maximo has a fully supported inventory management feature to let enterprises easily fulfill their inventory management goals. This feature offers an easy solution to monitor and manage the inventory history and the source of demand for the past ten years. It also offers full management for leasing spares while providing file management solutions for an enterprise’s up-selling and other related inventories.

Oracle asset management also comes with a dedicated inventory history access, management, and maintenance solution available upon modification. However, it lacks the other features offered by IBM Maximo.

Verdict: Based on the above analysis, IBM Maximo is the winner for featuring a fully supported competitive inventory management feature.

Reliability & Security

Reliability and security are essential aspects of asset management software. In this era of growing data vulnerabilities, it is vital to reduce the risks of cyber threatsOpens a new window and ensure that your data is safe with enterprise asset management software.

IBM Maximo packs an advanced security feature with a centralized asset risks analysis methodology. This feature helps an enterprise identify the risk factors associated with the asset life cycles and processes and lets it access diverse asset functions through a few button clicks. It also offers an easy solution to import from external RCM (Readability-centered Maintenance) packages. But all these features are available upon modification or customization.

On the other hand, Oracle asset management comes with fully supported safety, security, and reliability features. It lets you avail various asset functions easily. Furthermore, its RCM analysis solution enables you to reduce the security threats during the process executions or task lifecycle.

Verdict: Based on our above analysis, Oracle asset management is the winner here for having a fully supported security and reliability feature.

Which Enterprise Asset Management Software Is Best for Enterprises?

Choosing the right enterprise asset management software can be tricky. With the availability of a myriad of enterprise asset management software in the market, it is not unusual to get confused. To deal with that, you need to list the requirements for your enterprise, your role, and your goals.Â

Enterprise asset management software enables plenty of use cases, such as asset management for fast-growing enterprises, maintenance management of enterprises that are being scaled, achieving regulatory compliance, and ensuring high reliability for asset management. Simply define the requirements and expectations you have from an enterprise asset management software to make the right choice.Â

IBM Maximo is a good fit for the following use cases â€“

Optimizing the operational efficiency of an enterprise through calibration
Competitive fleet management
Supply chain management along with related assets management
Efficient inventory management
IT assets management
Regulatory compliance management

Oracle Asset Management on the other hand is suitable for â€“

Corporate & IT assets management
Purchasing management
Assets and their process cycles management
Supply chain managementÂ
Enterprise variable assets management with high securityÂ

You can make the right choice based on the above comparison and your main focus areas.

Takeaways

Asset management software is a must-have for any enterprise, especially the fast-growing ones. Even if you plan to scale your business up or simply want a more competitive, reliable and automated asset management solution, you must adopt enterprise asset management software.Â

IBM Maximo and Oracle asset management are two leading names, so it is not that easy to choose one over another. But by following the above analysis and chalking out your set of requirements for asset management, you can make the right decision.Â

Disclaimer: Unless stated otherwise, any information provided in this review does not constitute a recommendation or endorsement for the products listed in the article. All information in this article is provided in good faith; however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of products that are reviewed. The viewpoints expressed within the content are solely the author’s and do not reflect the views of Spiceworks Ziff Davis or its affiliates.

Edited by Jayant Chakravarti

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IBM Maximo vs. Oracle Asset Management: Which Enterprise Asset Management Software Is Best?