All these acronyms mean different things within an organization and to different entities, depending on your role. With a combined view and approach they all add up to the same thing…substantial savings.
Business today is back to full steam. Record-setting highs on Wall Street and earnings through the roof. As expected, Acquisitions and Mergers are up as well. With this always comes a number of challenges in bringing multiple organizations together - from the front office to manufacturing facilities. Throughout the combined companies, change is inevitable and not without some degree of pain. I have been through three large and small acquisitions. What I’ve learned is that there are a number of opportunities to combine synergies and make improvements along the way in order to capitalize on the strengths that are brought to the table.
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"EAM" or "Enterprise Asset Management" is often used to describe software systems designed to give organizations the means to manage and pro-actively optimize their operations for quality and efficiency. These systems provide a framework for the management of design, construction, commissioning, operations, maintenance, equipment and facilities. However, while EAM systems introduce a logical workflow from which best practices can be established, performance is ultimately dictated by the quality of the data that resides within.
Any of us who have been around business for any length of time know this term. We’ve used it over and over again to apply to many scenarios, whether it’s: “20% of our people do 80% of the work”, ”80% of our revenue is derived from 20% of our customers”, “20% of our product line accounts for 80% of our revenues”, “20% of our locations account for 80% of our revenue”…and the list goes on. Unlikely as it may seem many of these statements bear evidence and some truth.