Increasing ROI (Return on Investment) with the help of innovative EAM solutions, wide-ranging penetration of IoT as well as heavy investments on modern software by various organizations is expected to fuel the growth of global enterprise asset management market.
A recent report anticipates that the global market for enterprise asset management will expand at a robust 7.7% CAGR during the forecast period, 2018-2028, to touch an evaluation of nearly US$ 4,863.1Mn by 2028-end. Companies namely Ramco Systems, Oracle Corporation, IBM Corporation, Sage, AssetWorks LLC, CARL International SA and SAP SE amongst others will observe a substantial growth worldwide. Leading companies are concentrating on marketing strategies such as product developments and expanding their product portfolio.
Ramco Systems Joins Forces with XinFin for Developing Hybrid Blockchain Solution
Ramco Systems is planning to join forces with XinFin to develop hybrid blockchain solutions in the innovation lab of Ramco. The companies are planning to use XDC01 protocol of XinFin for creating an EAM solution with the help of software solutions of Ramco Systems. The existing and emerging block-chain industries are benefitted with this EAM solution, as it helps in preventing users from transferring tokens to non-existent addresses or incompatible networks. Manufacturers must focus on this technology as it will significantly help in reducing jamming of blockchain networks that hinders scalability, speed and security.
Ramco Systems collaboration with XinFin will benefit the company in exploring the potential of hybrid blockchain solution in aviation, HR and logistics. XDC01 protocol helps in maintaining data of critical financial dealings in confidential state, in the same blockchain. The EAM solution holds smart, secure and scalable contracting capability, which makes it suitable for catering to the requirements of Ramco Systems.
Oracle Corporation Develops New EAM Cloud Platform
Oracle Corporation has improved its EPM (Enterprise Performance Management) cloud by launching new cloud platform, which offers enterprise data assets with management services. Manufacturers can look up to this new cloud platform as it helps in reconciliation of financial data sets after the adoption of cloud, restructuring, reorganizations and M&A. Oracle Corporation had mentioned that the new addition help in avoiding manual inconstancies and errors, thereby improving outcomes with data sharing and self-service data protection.
Existing and emerging organizations are experiencing significant challenges with regards to governing and managing their enterprise assets. For the same purpose, Oracle Corporation developed advanced EPM cloud, which is a modern platform for streamlining business transformation challenges and helps organizations in maintaining data consistency, accuracy and integrity across all applications.
SAP SE Partners with HCL Technologies
Partnership with HCL Technologies is expected to benefit SAP SE with significant revenue opportunities. Contract between the two companies covers the complete range of solution support facilities for complex infrastructures. SAP SE will be reselling MRO (maintenance, repair, and overhaul) solution suite of HCL Technologies, which will be provided to the customers globally, under the name of SAP Enterprise Asset Management. This MRO solution will help in connecting core maintenance activities together with various other enterprise asset management needs such as logistics finance and checklists.
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