EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Remodeling enterprise asset management with technology
In Consulting
EY offers a transformation program and a comprehensive solution to enable an end-to-end Digital Footprint across ‘Acquire to Retire’ processes.
Challenges faced by organizations in enterprise asset management
In today’s dynamically evolving and changing enterprise environment, companies find it difficult to keep a track of the effectiveness and value of their physical assets and infrastructure for the entire course of their lifecycle This inevitably results in unnecessary costs and loss of resources. However, leveraging the right technology can aid businesses in enhancing its governance and internal control compliance which will enable them to retain value from available and present-day assets.
The entire governance of the processes of Enterprise Asset Management can potentially be enabled by incorporating Visibility on Asset Performance / Asset Monitoring:
- Optimizing repair and maintenance spend
- Digitized view of end-to-end Asset Operations / Asset Lifecycle / Movement
How EY can help
EY’s Enterprise Asset Management Solution sets you on an end to end asset management & transformation journey. Adopting a robust asset management practice with our solution can help give an organization a complete control over its inventory and assets from an ordering, physical movement and accounting perspective.
Our Enterprise Asset Management Solution focuses on six key areas of Enterprise Asset Management which facilitates the management to:
- Have detail-oriented asset monitoring of CAPEX Inventory in order to link seamlessly with financial books
- Auto-trigger status of the equipment on the field mobile app and thus initiate capitalization process
- Optimizing Asset Tracking methods to track high valued spares as part of CAPEX Spares inventory leading to cost savings in procurement of spares and inventory
- Enable an easy trail of documentation for improved financial compliance
- Maintain an audit trail of evidence from acquire to retire
- Track warranty of your assets from the date of implementation
Key features of EY’s Enterprise Asset Management Solution
~33%
of the procurement work steps are automated by leveraging Robotics
~55%
of the Goods Received Note work steps automated leveraging Robotics and Analytics
80%
of capitalization work steps are automated by leveraging Robotics
~40%
reduced reactive maintenance in less than 1 year
10%-30%
increase in efficiency leading to reduced manual intervention, duplication of efforts
10%-20%
reduced inventory write-offs
5%-10%
in revenue growth
5%-10%
improvement in on-time delivery
5%-10%
improved working capital
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