IFS EAM vs IPS Energy

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Our analysts compared IFS EAM vs IPS Energy 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

IFS EAM is an enterprise asset management software solution designed to help organizations optimize asset performance, extend asset lifecycles, and reduce maintenance costs. It offers comprehensive functionalities for managing the entire asset lifecycle, from procurement and commissioning to maintenance, repair, and operations (MRO). IFS EAM caters to organizations across various industries with complex asset-intensive operations, including manufacturing, oil & gas, utilities, and transportation. Its key benefits include improved asset uptime and reliability, reduced maintenance costs, enhanced compliance, and data-driven decision making. Popular features include work order management, preventive maintenance scheduling, inventory control, and analytics dashboards. User experiences highlight IFS EAM's strengths in its scalability, flexibility, and user-friendly interface. Users appreciate the software's ability to integrate with other enterprise systems and adapt to specific industry needs. However, some users report challenges with the initial setup and customization process. IFS EAM offers various pricing models depending on deployment type, number of users, and required modules. Pricing typically ranges from tens of thousands to hundreds of thousands of dollars annually, paid on a subscription basis.

Pros
  • Scalable and flexible
  • User-friendly interface
  • Integrates with other systems
  • Improves asset uptime
  • Reduces maintenance costs
Cons
  • Complex initial setup
  • Customization can be challenging
  • Limited reporting capabilities
  • High cost of ownership
  • Steep learning curve
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IPS Energy enables asset-intensive organizations to improve equipment availability and reliability while reducing operational costs and risks. It helps manage all aspects of maintenance to ensure operational efficiency and longer asset lifespans.

Designed especially for the power generation industry, it integrates information technology with power utilities to provide high-quality services at low costs.
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$165/User, Monthly
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Product Assistance

Documentation
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Live Online
Videos
Webinars
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Email
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FAQ
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Knowledge Base
24/7 Live Support
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24/7 Live Support

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.
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  • Improved Asset Lifespan: By providing detailed maintenance schedules and tracking, IPS Energy helps extend the operational life of critical assets.
  • Enhanced Decision-Making: Real-time data analytics and reporting tools enable more informed decisions, reducing downtime and operational costs.
  • Regulatory Compliance: Automated documentation and reporting features ensure adherence to industry regulations, minimizing the risk of non-compliance penalties.
  • Cost Efficiency: Optimized resource allocation and predictive maintenance reduce unnecessary expenditures and improve budget management.
  • Increased Productivity: Streamlined workflows and task automation free up staff to focus on higher-value activities, boosting overall productivity.
  • Risk Mitigation: Proactive monitoring and alert systems help identify potential issues before they escalate, reducing the likelihood of critical failures.
  • Scalability: The software can grow with your organization, accommodating increasing asset portfolios without compromising performance.
  • Data Centralization: Consolidates all asset-related information into a single platform, ensuring easy access and improved data integrity.
  • Customizable Solutions: Tailored modules and features allow for a personalized approach to asset management, meeting specific organizational needs.
  • Enhanced Collaboration: Facilitates better communication and coordination among teams through shared access to up-to-date information.
  • Environmental Sustainability: Efficient asset management practices contribute to reduced waste and energy consumption, supporting sustainability goals.
  • Improved Safety: Regular maintenance and real-time monitoring help ensure that equipment operates safely, protecting both employees and assets.
  • Historical Data Analysis: Access to historical performance data aids in trend analysis and long-term strategic planning.
  • Mobile Accessibility: Mobile-friendly interfaces allow for on-the-go access to critical information, enhancing field operations.
  • Vendor Management: Streamlines interactions with suppliers and service providers, improving procurement and service quality.
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  • 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.
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  • Operations Planning: Create operative plans, assign actions and run reports for planning operations. Reduce costs by accurate maintenance planning and optimization. 
  • Work Ordering and Scheduling: Create work packages and assign actions to work orders. Manage action responses and generate reports on work order completions. Save resources with work order scheduling. Compare nominal and actual use of resources. 
  • Location Change Management: Track and monitor changes in asset locations, installations, replacements or retirements. Change asset statuses and assign or reassign assets in real time. 
  • Repair Management: Track and document repairs and malfunctions of every asset. Schedule maintenance and inspection activities to keep assets in top shape. 
  • Asset Discard Management: Manage discarded assets that have been removed from the system but not from the database. Maintain historical records of deleted assets to allow for reinstatement. 
  • Resource Requirement Management: Estimate and track resources like assets and labor to complete work orders. Compare estimated and actual maintenance costs. Optimize OPEX and CAPEX expenses. 
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Product Ranking

#20

among all
EAM Software

#62

among all
EAM Software

Find out who the leaders are

Analyst Rating Summary

69
41
17
50
85
77
82
41
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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

IFS EAM
IPS Energy
+ Add Product + Add Product
Analytics And Reporting Asset Management Asset Tracking Environment, Health And Safety Management Maintenance And Inspection Management Mobile EAM Resource Allocation And Work Order Scheduling Spare Parts Handling Workforce Management Work Order Management 17 85 82 100 55 75 64 81 53 85 50 77 41 48 37 81 18 0 0 69 0 25 50 75 100
17%
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83%
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86%
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67%
17%
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76%
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24%
41%
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59%
100%
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6%
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29%
12%
59%
63%
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24%
75%
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17%
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83%
83%
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100%
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89%
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11%
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

14%
57%
29%
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29%
71%

User Sentiment Summary

Great User Sentiment 346 reviews
Excellent User Sentiment 24 reviews
83%
of users recommend this product

IFS EAM has a 'great' User Satisfaction Rating of 83% when considering 346 user reviews from 5 recognized software review sites.

90%
of users recommend this product

IPS Energy has a 'excellent' User Satisfaction Rating of 90% when considering 24 user reviews from 1 recognized software review sites.

4.1 (14)
n/a
4.1 (128)
n/a
3.8 (26)
n/a
4.3 (147)
4.5 (24)
4.1 (31)
n/a

Awards

SelectHub research analysts have evaluated IFS EAM and concluded it earns best-in-class honors for Environment, Health and Safety Management.

Environment, Health and Safety Management Award

IPS Energy stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

Synopsis of User Ratings and Reviews

Improved Asset Uptime: Users praise IFS EAM's predictive maintenance capabilities, which help prevent equipment failures and minimize downtime.
Reduced Maintenance Costs: Streamlined workflows and optimized maintenance schedules lead to lower maintenance expenses, benefiting users financially.
Enhanced Data Visibility: Users appreciate the centralized data platform that provides comprehensive insights into asset performance and operations, enabling data-driven decision-making.
Increased Operational Efficiency: Automated tasks and improved collaboration within IFS EAM boost overall productivity for users.
Scalability and Flexibility: Users value the ability to adapt the software to their growing asset bases and evolving business needs, ensuring long-term value.
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Simplified Asset Management: Users appreciate the platform's ability to streamline asset management, allowing them to easily track assets, monitor their health, and schedule maintenance, all in one central location.
Improved Data Analysis: IPS Energy provides robust data analysis tools that empower users to gain insights from their operational data, enabling them to make informed decisions regarding asset performance and maintenance strategies.
Enhanced Collaboration: The platform fosters seamless collaboration among teams, facilitating efficient communication and information sharing, which is crucial for effective asset management.
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Complex Initial Setup: Users find the initial configuration and customization process challenging and time-consuming.
Limited Reporting Capabilities: While reporting features exist, some users find them insufficient and require additional customization.
High Cost of Ownership: The initial license cost and ongoing maintenance fees can be significant, making it less accessible for smaller organizations.
Steep Learning Curve: The software's complexity can lead to a challenging learning experience for new users, requiring extensive training and support.
Limited Mobile Functionality: Although a mobile app is available, some users report limitations in its functionality compared to the desktop version.
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Difficult to Use: Some users have reported finding the platform difficult to navigate and use, particularly when it comes to finding specific information or completing certain tasks.
Limited Functionality: Users have expressed that the platform lacks some features and functionalities that they consider essential for their EAM needs. For example, some users have mentioned that the reporting features are limited.
Integration Challenges: Integrating IPS Energy with other systems has proven to be challenging for some users, leading to difficulties in data sharing and workflow automation.
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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.

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Is IPS Energy really giving other EAM solutions a run for their money? User reviews from the past year suggest that IPS Energy is a powerful tool for managing energy assets, but it may not be the best fit for every organization. Users praise IPS Energy for its robust asset library, which includes a vast collection of data on electrical power systems. This makes it easier for companies to get up and running quickly, without having to spend a lot of time and effort on data entry. One user noted that they were able to implement IPS Energy in a matter of weeks, compared to months for other EAM solutions. However, some users have reported that IPS Energy can be complex and difficult to use, especially for those who are new to EAM. The software's interface is not as intuitive as some other products on the market, and it can take some time to learn how to use all of its features. Additionally, some users have expressed concerns about the software's reporting capabilities, finding them to be somewhat limited. Overall, IPS Energy seems to be a good fit for larger organizations with complex energy management needs and dedicated IT resources to support implementation and training. Smaller organizations, or those with limited IT staff, may find the software to be too complex and cumbersome.

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