In the face of global climate change, businesses are increasingly motivated to adopt sustainable practices. Whether driven by corporate responsibility, regulatory requirements, or a combination of both, balancing sustainability with profitability is crucial. This article explores how Enterprise Asset Management (EAM) technology plays a pivotal role in achieving these goals.
The importance of sustainability in business
Businesses are being held accountable not just for financial performance but also for their environmental impact. Customers, employees, and investors expect companies to meet Environmental, Social, and Governance (ESG) goals, which include reducing carbon emissions, managing waste, and conserving resources. Failure to meet these expectations can lead to loss of customers, difficulty in attracting talent, and reduced investment.
The role of technology in sustainability
EAM technology supports sustainability by optimizing the management and maintenance of your assets. Key benefits include:
Energy efficiency:Timely maintenance ensures assets operate efficiently, reducing energy consumption and carbon emissions.
Waste reduction: Sustainable warehouse management and digital workflows minimize material waste.
Real-time oversight:Cloud-based EAM solutions provide real-time data and analytics, helping businesses monitor and improve asset performance against ESG targets.
Essential EAM features to consider
When reviewing EAM technologies, you should ensure these features are included to assist with your sustainability goals:
Decision support and analytics:Advanced analytics and artificial intelligence (AI) provide transparent methods for evaluating risks and benefits, helping organizations make informed decisions.
Carbon footprinting:Carbon footprint technology consolidates data, visualizes progress, and ensures compliance with regulatory standards.
Remote assistance:Augmented reality enables experts to guide onsite personnel remotely, reducing travel and associated carbon emissions.
Achieving green AND gold
Profitability and sustainability are not mutually exclusive. EAM technology helps businesses achieve both by improving efficiency and reducing environmental impact. For example, IFS's workforce planning and scheduling optimization reduces fuel costs and carbon footprints, while capacity planning maximizes field crew efficiency.
Conclusion
Adopting EAM technology is essential for businesses aiming to meet their ESG goals. IFS Cloud provides comprehensive, end-to-end asset management solutions that support sustainability while enhancing operational efficiency. By integrating financial and non-financial metrics into decision-making, IFS enables organizations to make value-based investment decisions that drive long-term success.
For more information, read our EAM sustainability report.
