00:00:00 - 00:55:00
The webinar explores the challenges organizations face in asset management and the benefits of implementing an Enterprise Asset Management (EAM) solution. An EAM solution combines various functionalities such as asset tracking, maintenance planning, inventory management, and financial analysis into one platform, enabling businesses to gain insights, improve decision-making, and enhance operational efficiency. The speaker shares use cases of companies in the automotive and manufacturing industries that have achieved seamless automation, traceability, and improved efficiency using EAM solutions. The importance of user experience, lower cost of ownership, AI-driven asset management, and notification engine is also discussed. The webinar emphasizes the role of EAM solutions in maximizing asset value, reducing costs, and improving overall performance in various industries, including manufacturing.
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- 00:00:00 In this section, the webinar discusses the challenges organizations face in managing their assets effectively and the role of an Enterprise Asset Management (EAM) solution in addressing these challenges. An EAM solution is a comprehensive software system that streamlines and optimizes asset-related operational activities within an organization. It combines functionalities such as asset tracking, maintenance planning, inventory management, and financial analysis into one centralized platform. By leveraging an EAM solution, businesses can gain valuable insights into their assets, improve decision-making processes, and enhance overall operational efficiency. The implementation of an EAM solution can lead to lower maintenance costs, reduced downtime, and maximized returns on capital investments. The speaker, Mr. Jayantarun Sridharan, a senior solution consultant at Symphony AI Summit, brings a wealth of expertise and knowledge to the table, having successfully implemented EAM strategies for numerous organizations.
- 00:05:00 In this section, the speaker discusses the common priorities of companies across various industries. According to their research, most companies focus on improving margins by reducing operational costs and optimizing resources, rather than implementing short-term cost-cutting measures. Service quality is identified as the top priority for industries other than manufacturing, followed by improving customer satisfaction. However, for manufacturing verticals, the top priority is improving profitability, with reducing operational costs as the second priority. The speaker then provides two use cases to demonstrate how companies have achieved these priorities using asset management and service management solutions. One example is an automobile industry that achieved seamless automation, traceability, reduced audit time, and 100% compliance by using RFID technology and service management. Another example is a manufacturing company that integrated asset management to address their pain points and improve efficiency.
- 00:10:00 In this section, the speaker discusses how they improved the user experience and lowered the total cost of ownership for their enterprise asset management solution. They also highlight the importance of the asset life cycle, specifically the challenges faced by a customer in their refresh cycle process. The speaker mentions that AI-driven asset management has helped streamline and consolidate processes for global companies with offices in different locations. They emphasize the benefits of a self-service portal that provides easy accessibility and real-time asset monitoring. The speaker then goes on to mention a few use cases, including Maruti, an automobile manufacturer in India, and Harman, a consumer electronics company. Both companies have seen increased customer satisfaction and improved ticket resolution using the asset management solution. The speaker concludes by introducing Symphony AI, a SaaS-based organization focused on building an AI-driven enterprise solution for B2B customers.
- 00:15:00 In this section, the speaker discusses the various business verticals that Symphony AI is involved in, including retail, CPG, media, manufacturing, and enterprise service management. They highlight the importance of AI in improving customer insights, fraud detection, regulatory compliance, and asset optimization. The speaker also mentions Symphony AI's extensive customer base and worldwide presence, as well as the accolades and recognition they have received. They note that Summit is a leading provider of IT and enterprise workflow solutions and showcase some of their satisfied customers in different industries.
- 00:20:00 In this section, the speaker highlights the accomplishments and recognition that their enterprise asset management solution, ServiceNow, has received. They mention winning the CIO's Choice Award in the India region for six consecutive years, being recognized as major players in the IDC Market space, and being featured in Gartner's Magic Quadrant. They also emphasize the importance of customer satisfaction and recommendations, as well as their robust product capabilities, integration and deployment features, and quick service and support. The speaker concludes by discussing ServiceNow's platform engine, which is available on both cloud and on-premise, and their flexible and codeless approach to workflow and designer approval.
- 00:25:00 In this section, the speaker discusses the importance of having a notification engine to ensure traceability, transparency, and visibility in an enterprise asset management solution. They also mention the availability of reporting and dashboard support, which allows users to generate reports and present them to management. The speaker highlights that the product caters to all industries and offers asset lifecycle management, hardware asset management, software asset management, and service automation. They further emphasize the role of AI in the solution, where it acts as a digital agent, answering questions, creating incidents, and providing information. The speaker concludes by mentioning the accessibility of the solution through various channels such as web chat, mobile app, and web portals. They also mention the no code/low code capability, allowing users to easily create portals without coding knowledge.
- 00:30:00 In this section, the speaker discusses the importance of enterprise asset management in the manufacturing industry. They explain that assets such as equipment and machinery make up a significant investment for companies and need to be managed properly to maximize their value. Without asset management, companies may experience unplanned downtime, equipment failures, misplaced inventory, safety and environmental breaches, and compliance issues. The speaker goes on to explain how Summit's enterprise asset management solution can help manufacturers address these challenges and reduce costs.
- 00:35:00 In this section, the speaker discusses the importance of effective asset tracking and predicting future infrastructure costs using an enterprise asset management solution. They explain that the asset dashboard categorizes assets into fixed assets, consumables, accessories, and software, with the ability to track each category's assets in unlimited classifications. They highlight the importance of traceability and visibility in managing assets and mention different methods of importing assets into the system, including discovery, importing from an Excel sheet, and integration with other systems like financial or procurement systems. They also mention the seamless integration of assets from different locations, providing a centralized asset repository for easy access to data. Finally, they discuss the life cycle of assets and how Summit allows users to manage assets throughout their journey, ensuring effective asset management.
- 00:40:00 In this section, the speaker discusses the logical actions that can be taken based on the status of an asset, specifically when the asset is in the store. These actions include allocation, sending an asset to a repair center, moving it from one location to another, deactivating the asset, and more. The speaker also highlights the importance of reconciliation in the manufacturing industry, where assets are sent to different plants and it's crucial to know if they are being utilized effectively. The speaker explains that the enterprise asset management solution allows for easy configuration of fields and provides a variety of actions based on the asset's status. Additionally, the solution offers features like reconciliation and traceability through a life cycle generator, ensuring proper tracking and approval processes.
- 00:45:00 In this section, the speaker discusses the importance of having both electronic and physical copies of assets in old-school manufacturing industries. They explain that their enterprise asset management solution provides options to print gate passes with barcodes or QR codes for tracking assets leaving the premises, along with physical signatures if required. They also mention the significance of contract management, emphasizing the need to track vendors, assets purchased, and hierarchy. The speaker highlights the role of preventive maintenance in extending the life of assets and explains how their solution integrates with a help desk system to automate reminders for maintenance tasks. They also mention the flexibility of their solution in terms of depreciation calculations and conclude by summarizing the benefits of using their enterprise asset management solution, including efficient tracking and tagging, centralized management, extended asset life cycle, and the ability to track repairs and conduct root cause analysis.
- 00:50:00 In this section, the speaker discusses the benefits of using an enterprise asset management solution. They highlight features such as predictive maintenance, seamless integration for centralized asset repository, compliance tracking, and reducing operational maintenance costs while boosting output. They emphasize how the solution can increase operational efficiency and provide real-time visibility and traceability of asset usage. They also mention the availability of reports, dashboards, preventive maintenance, and embedded industry best practices. The speaker concludes by mentioning that the product has both cloud and on-premise versions.
- 00:55:00 In this section, the speaker discusses the availability of email message notifications in the enterprise asset management solution. They confirm that email, text (SMS), and other forms of communication are available and can be customized. They also assure the audience that they are open to answering any additional questions and provide their email address for further inquiries. The speaker concludes by thanking the audience for their participation and expressing gratitude to the speaker for sharing valuable insights on unlocking the power of the enterprise asset management solution.