The Power of Integration with Enterprise Asset Management & Finance Enterprise

One of the characteristics of a smart city is the ability to use technology to create automated processes that help guide informed decision-making and most importantly, save you time and improve operational efficiency. The technology you use should unify the individual processes of running your community into one cohesive operation.

Integrating CentralSquare’s Finance Enterprise and Enterprise Asset Management helps you do just that.

Making an automated connection between your physical assets and your financial reporting saves your organization time and resources, speeds up productivity and streamlines the process of pushing asset information directly to your finance management tools.

As highlighted below, we explore each individual solution and the key integration points to improve your community management processes.

What Is Enterprise Asset Management?

Enterprise Asset Management (EAM) is the process of overseeing the physical assets your community owns. This includes understanding the lifecycle of the assets and the investment it takes to manage them.

Our software is a comprehensive solution that helps your organization efficiently manage and track your community’s assets. Our technology reduces costs and improves your daily operations by monitoring owned assets, as well as when assets need to be repaired, how the assets are performing, maintenance needs and when assets need to be replaced.

In addition to advanced tracking functionalities, our EAM solution is also designed to stimulate sustainability. Considering factors like budget and government oversite, EAM helps you understand where resources and finances are being invested, and whether those resources should be scaled up or decreased.

A key functionality of the system is the universal asset register. This capability allows for a comprehensive overview of long-term forecasting for asset replacements. It centralizes assets and provides important information including risk analysis, criticality, salvage value and year of replacement.

Working to do more with less, you need an automated solution that tracks your assets’ performance, allowing you to be proactive through preventative maintenance – saving you time, money and resources.

What is Finance Enterprise?

Finance Enterprise is a cloud-based system that simplifies your financial, HR and payroll processes. The software prioritizes configurability. Custom workspaces and dashboards are available to fit your team’s workflow and ensure that you can easily access your data when needed.

Manual and slow processes are replaced with advanced analytics and robust workflow automation tools built into the system to help run and deliver reports. You spend less time managing outdated spreadsheets and more time analyzing your data to uncover new insights.

In addition to the reporting and automated functions, upgrades with the cloud-based solution provide the flexibility to scale up or down in the future as your organization’s needs change – cutting expenses on costly upgrades and maintenance fees.

Integrating CentralSquare’s Enterprise Asset Management and Finance Enterprise Integrations

Both systems work together to create a seamless process for managing your community’s assets and finances. Integration points of EAM and Finance Enterprise allow the ability to enter information in one system that flows into the other for real-time connection and data sharing.

Some of the key integrations include:

• Account Lookup associates Finance Enterprise accounts to work orders, assets and materials in your asset management system. The real-time connection helps with detailed reporting for projects and expenditure tracking.
• Work Orders and Transactions integration allows you to create work orders in EAM that will populate the information in Finance Enterprise. The work order is then available in the transaction string of your account number to attach it to other costs such as invoices.
• Fixed Assets integration connects your assets from EAM to associate them in Finance Enterprise. For example, if you have a fleet vehicle for maintenance in your asset management system, you can associate the finance fixed asset ID number to it so that you can always search for it and see the current book value for the asset. Additionally, if you create a purchase request from EAM, you can also create a purchase request for a fixed value.

Additional integration points including purchase requests, inventory, HR functionality and accounts receivable are designed to simplify your organization’s approach to managing your community’s assets, resources and finances.

The power of integrating EAM and Finance Enterprise is the ability to connect the data between the two systems to save time and improve operational efficiency to drive results. The systems automatically make the connection between your physical assets and your financial data. You spend less time organizing and reconciling data, and more time on the priorities of managing your community.

Modernizing Your Operations

By integrating our asset management and finance solutions, you can use the power of real-time data connection to improve your organization’s practices, and ultimately better serve your community.

Watch our recorded webinar on the integration of EAM and Finance Enterprise for a demo of our software and learn more about how you can modernize your organization’s operations.