IFS EAM vs NEXGEN Asset Management
Last Updated:Our analysts compared IFS EAM vs NEXGEN Asset Management based on data from our 400+ point analysis of EAM Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
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Product Assistance
Product Insights
- Manage Assets Strategically: Manage assets from purchasing to end-of-life. Accurately predict asset ROI and extend asset lifespan to get the most return out of every asset.
- Optimize Operational Efficiency: Cut both direct and indirect costs, as well as reduce the loss of revenue from unplanned downtime via work order management, asset monitoring and financial planning.
- Streamline Work Orders: Streamline the work order process from the time a new request opens to its completion. Assign to individual technicians and lock with role-based security protocols so only the admin-level can close them.
- Consolidate Vehicle Management: Make configuration and fleet management easier and more efficient by performing tasks within the same interface as maintenance tasks.
- Improve Regulatory Compliance: Detailed asset profiles and extensive maintenance records help protect from liability and easily prepare for audits.
- Manage MRO Tasks: Perform a variety of maintenance, repair, overhaul (MRO) tasks from the interface, reducing the need for additional solutions and jumping between systems to perform simple functions.
- Glean Insights: Analyze business data and perform a range of prebuilt analysis models to make better decisions based on metrics and models.
- Reduced Equipment Downtime: NEXGEN's predictive maintenance tools help identify potential equipment issues before they cause failures, minimizing downtime and keeping operations running smoothly.
- Lower Maintenance Costs: By optimizing maintenance schedules and reducing equipment failures, NEXGEN helps organizations save on repair costs, replacement parts, and labor expenses.
- Improved Inventory Management: NEXGEN provides real-time visibility into spare parts inventory, enabling efficient stock control, reducing carrying costs, and preventing stockouts.
- Enhanced Regulatory Compliance: The software helps organizations comply with safety and environmental regulations by tracking maintenance activities, equipment history, and compliance documentation.
- Increased Asset Lifespan: Proactive maintenance practices facilitated by NEXGEN extend the lifespan of assets, maximizing return on investment and delaying costly replacements.
- Data-Driven Decision Making: NEXGEN provides comprehensive data and analytics on asset performance, enabling informed decision-making regarding maintenance strategies, asset utilization, and capital investments.
- Improved Productivity: By streamlining maintenance processes and reducing equipment downtime, NEXGEN helps maintenance teams work more efficiently and productively.
- Enhanced Safety: NEXGEN's safety management features help organizations identify and mitigate potential safety hazards, creating a safer work environment for employees.
- Plant Engineering: Captures early stage costs and stores asset data to accurately record vital information for audit trails, maintenance operations and more.
- Document Management:Records and manages changing asset specifications such as maintenance records, meter readings and more. Also manages all contractor interactions directly through the app, including cost analysis, external engineering, maintenance contractors and construction contracts.
- Maintenance Management: Offers organization maintenance and a range of maintenance tasks including preparation, fault reporting, execution and final reporting.
- Inventory Management: Tracks inventory metrics such as spare parts or small equipment. Notes the number of materials in stock and displays detailed information on each item, such as model number and type, and sends notifications if supplies need to be reordered.
- Fleet Management: Offers serialized parts control, preventive maintenance, operational planning and modification management to streamline the fleet management process.
- MRO: Supports a range of maintenance, repair, overhaul (MRO) tasks, including quotation handling, configuration management and maintenance execution. Also offers warranty handling, cost tracking, supply chain logistics and invoicing.
- Materials Management: Place purchase orders, source materials through the RFQ process, monitor and compare vendor progress against order terms, and manage tracking and receipt of goods delivered.
- Business Intelligence: BI reports and models are accessible through the Microsoft Suite, IFS Lobby and many other popular reporting and analysis tools.
- Facilities Management: Aids facility planning and maintenance tasks such as automatically shutting off lights, monitoring meter usage and remotely setting HVAC controls.
- Asset Management: Develop a comprehensive asset management program with asset inventory and condition assessment reports. Keep track of all assets while reducing risk and maximizing asset lifespans.
- Maintenance Management: Manage benchmark operations and preventive maintenance activities. Create, open and close work orders from the field. Track all maintenance costs from a single screen.
- Service Request Management: Track customer information and service requests to improve current service levels. Update customers about service request statuses from submission to completion.
- Asset Planning: Incorporate asset planning principles, such as asset lifecycle plans, funding forecasts, risk analysis and capital prioritization, into business functions. Generate asset allocation budgets and reports to keep stakeholders informed and manage resources.
- Resources Management: Manage critical resources, like employees, equipment, vendors, contractors, crew and timesheets, from a unified interface. Track employee contribution to work orders, assigned equipment and costs.
- Warehouse Management: Track and maintain parts inventory across multiple warehouses. Drill down from an entire warehouse to a single bin with location hierarchies. Set alerts for replenishment and order parts only when needed.
Product Ranking
#20
among all
EAM Software
#21
among all
EAM Software
Analyst Rating Summary
Analyst Ratings for Functional Requirements Customize This Data Customize This Data
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User Sentiment Summary
346 reviews
17 reviews
IFS EAM has a 'great' User Satisfaction Rating of 83% when considering 346 user reviews from 5 recognized software review sites.
NEXGEN Asset Management has a 'good' User Satisfaction Rating of 73% when considering 17 user reviews from 3 recognized software review sites.
Awards
SelectHub research analysts have evaluated IFS EAM and concluded it earns best-in-class honors for Environment, Health and Safety Management.
SelectHub research analysts have evaluated NEXGEN Asset Management and concluded it earns best-in-class honors for Resource Allocation and Work Order Scheduling.
Synopsis of User Ratings and Reviews
IFS EAM receives mixed user reviews, highlighting both its strengths and weaknesses. Many users praise its ability to improve asset uptime and visibility, reduce maintenance costs, and optimize operations. Phrases like "predictive maintenance capabilities are excellent" and "data platform is a game-changer" emphasize user satisfaction with these aspects. However, some users find the initial setup and customization process complex, stating "it took longer than expected to get everything working smoothly." Additionally, the high cost and steep learning curve deter some users, with comments like "it's expensive, but worth it if you have the budget" and "the software itself is powerful, but it takes time to learn." When compared to similar products, users acknowledge IFS EAM's strengths. One user commented, "IFS EAM is more scalable and flexible than [competitor name], which was important for our growing business." Another noted, "While [competitor name] has a steeper learning curve, IFS EAM offers more user-friendly features." However, some users feel its reporting capabilities are lacking compared to competitors, stating "we need to use additional tools for advanced reporting, which is inconvenient." Overall, user reviews suggest IFS EAM as a powerful tool for organizations seeking comprehensive asset management with the resources to handle its initial complexities and cost. Its strengths in scalability, flexibility, and data visibility set it apart from some competitors, but its high cost and learning curve may require careful consideration.
NEXGEN Asset Management has garnered significant attention in the EAM software market over the past year, with user reviews highlighting both its strengths and weaknesses compared to competitors like IBM Maximo and SAP EAM. Users consistently praise NEXGEN's intuitive interface and ease of use, particularly for technicians and maintenance crews who can quickly access work orders, asset history, and inventory levels on mobile devices. This streamlined workflow improves efficiency and reduces downtime, a critical factor in asset-intensive industries. However, some users note that NEXGEN's reporting and analytics capabilities are not as robust as those offered by more established competitors, limiting its ability to provide comprehensive insights for strategic decision-making. One of NEXGEN's key differentiators is its flexible deployment options, including cloud-based, on-premise, and hybrid models, catering to diverse organizational needs and IT infrastructures. This adaptability is crucial for businesses with varying compliance requirements or those transitioning from legacy systems. Additionally, users appreciate NEXGEN's strong focus on preventive maintenance, with features like automated scheduling and condition monitoring helping to extend asset lifecycles and reduce unexpected failures. While NEXGEN may not have the extensive industry-specific functionalities of some competitors, its core features and configurability make it a suitable choice for mid-sized organizations across various sectors, including manufacturing, facilities management, and utilities, seeking a user-friendly and adaptable EAM solution to optimize maintenance operations and asset performance.
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