Breaking down the different types of asset and facility management software

If you’ve tried shopping around for a software solution that’ll help streamline facilities management, you know there are a lot of options to choose from—so many that simply selecting the right kind can be overwhelming. We’re beyond CAFM vs CMMS at this point; however, some of these options still exist. For facility managers looking for a suitable solution, the research will often present one of the following:  

• Computer-Aided Facility Management (CAFM)
• Computerized Maintenance Management System (CMMS)
• Enterprise Asset Management (EAM)
• Integrated Workplace Management System (IWMS)

While CAFM and CMMS software are traditionally popular options, many facility managers now find that they need both a CAFM and a CMMS. The demands of facilities management have changed, and FM teams need software that can handle a multitude of diverse tasks. Each solution above comes with its own functionalities, features and areas of focus, but which one best suits your needs? For example, do you need to include asset management in your assessment of potential kinds of software?

Asset management is the tracking and management of assets, including mechanical equipment, computers, furniture, and more. A facilities management department may use software to see where certain assets are prior to a move, while the accounting department may use it to get a feel for various purchasing and upkeep expenditures.

Check out how OfficeSpace is reimagining asset management software

Computer-Aided Facility Management (CAFM)

What is computer-aided facility management? A CAFM is a software platform that streamlines facilities management and maintenance.

By name alone, CAFM software sounds like it could perform any number of facilities management tasks, and a quick glance online reveals a similarly broad number of definitions. A CAFM solution generally does a lot, but its focus is on the people and resources side of the management equation. In other words, it’s predominantly administrative, with the core focus on tracking and managing data, rather than streamlining actual activities.

Depending on the CAFM solution you opt for, you could also end up with a piece of software that is quite complex. It often pulls info from multiple sources, so if you master the complexity, it can allow you to gain access to loads of data. However, it doesn’t necessarily integrate different datasets to provide a holistic view of FM-related activities, so you could end up with a user experience that is quite siloed. CAFM solutions also tend to require customization before they dial into the end user’s needs, and if you don’t know up front exactly what you need the system to manage, your CAFM is unlikely to meet its full potential.

Those who do go with a CAFM solution will find it most useful to accomplish two things:

• Keep track of equipment and people
• Reduce reliance on older FM tools, such as spreadsheets and pen-and-paper datakeeping

CAFM’s space- and asset-management strengths make it a common tool for facilities management, but in many cases, pure CAFM software lacks the user-friendly, integrated and proactive approach that other modern solutions now offer.  

Computerized Maintenance Management System (CMMS)

What is a computerized maintenance management system (CMMS)? A CMMS largely keeps track of maintenance tasks and data.

The key to understanding the focus of this software is in the title: a CMMS largely keeps track of maintenance tasks and data. If you have software that shows you how long it’s been since equipment has been maintained, you are likely using a CMMS. This breed of software is critical for organizations with heavy equipment usage and those that own their own buildings; when you’re paying a mortgage instead of a lease, for instance, it falls to you to keep track of your HVAC system’s maintenance and upkeep. That said, a CMMS typically lacks the versatility that most FM teams need. For facilities management professionals who are also involved in space optimization, office moves and even desk booking, a computerized maintenance management system doesn’t offer much in the way of help. Ultimately, a CMMS is a specialized piece of software aimed at unique maintenance needs.

Enterprise Asset Management (EAM)

EAM systems are designed to track and manage a variety of company assets. While a CMMS is typically used to track large pieces of mechanical equipment, EAM systems are used to manage office assets like computers and furniture. Where a CMMS also monitors assets while they’re active—and when they need to undergo routine maintenance—an EAM solution tracks resources from procurement through to disposal. A facilities management department may use EAM software to see where certain assets are prior to a move, while accounting (or a similar department) may use it to get a feel for various purchasing and upkeep expenditures.

That said, there is also some overlap between EAM and CAFM software, since CAFM solutions also help with asset management. Overall, the value of pure EAM software is questionable for all but the most specific use cases, since many modern software solutions are able to offer similar functionality as one component of a more comprehensive offering.  

Integrated Workplace Management System (IWMS)

What is an integrated workplace management system? An IWMS is a software platform that optimizes workplace resources, including real estate, infrastructure, and facilities.

An Integrated Workplace Management System (IWMS) is a comprehensive software platform designed to optimize the management of an organization’s real estate, infrastructure, and facilities. Unlike more narrowly focused tools, an IWMS integrates various functionalities into a single system, providing a holistic view of the workplace. Its core purpose is to streamline operations, enhance efficiency, and support strategic decision-making across diverse areas like space management, asset management, maintenance, project management, and real estate portfolio management. By unifying data and processes, an IWMS helps organizations gain greater control over their physical assets and optimize their utilization, leading to improved operational efficiency and cost savings.

A modern IWMS is more than just a tool; it’s a cloud-based platform that integrates with other crucial workplace applications, enabling seamless collaboration between facility management teams, HR, IT, and other departments. These systems provide actionable insights through advanced data and analytics, helping decision-makers understand space utilization, manage moves, and ensure an optimized and user-friendly office environment. OfficeSpace Software represents a leading example of a modern IWMS, offering a comprehensive and intuitive solution that simplifies the complexities of workplace management for organizations of virtually any size.

Which tool is best for both asset and facility management?

Where a solution like a CMMS or CAFM is incredibly focused, an IWMS like OfficeSpace stands out as the most comprehensive answer for organizations aiming to manage both assets and broader facility needs effectively. While Computerized Maintenance Management Systems (CMMS) excel at maintenance tasks and Enterprise Asset Management (EAM) systems focus on tracking physical resources, and Computer-Aided Facility Management (CAFM) handles administrative aspects, these tools often operate in silos.

For truly optimized operations, modern businesses require a unified approach. An Integrated Workplace Management System (IWMS) uniquely combines the strengths of these disparate systems, providing a holistic platform that oversees everything from space management and resource allocation to preventative maintenance and detailed asset lifecycle tracking. By unifying data and workflows across real estate, infrastructure, and all company assets, an IWMS offers unparalleled visibility and control. This integrated perspective empowers facility managers and finance leaders to make more informed, strategic decisions, leading to greater operational efficiency, reduced costs, and a truly optimized workplace environment.