Corporate Social Responsibility

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Corporate Social Responsibility (CSR) has become an important strategic initiative that every corporate establishment needs to understand and implement. It can be defined in simple terms as the intentional inclusion of public or social interest into business strategy. It has been adopted by the corporate world to ensure that every decision taken by a business is of the highest ethical value along with respect to the society, legal compliance and being responsible for the environment. Some experts believe that, treating employees & other humans respectfully, operating with integrity and protecting the environment for future generations are all part of the CSR initiatives. .

Many companies across the world are implementing CSR initiatives and encouraging their employees to take part. Some of the companies try to adopt the concept focusing more on their core business vertical. Indian companies have also been showing keen interest in CSR activities in the past decade. According to a report by Indian Brand Equity Foundation (IBEF), nearly all-leading companies are involving themselves in CSR programmes in the areas of education, healthcare, skills development and empowerment of weaker sections of the society. In fact, the Tata group and Aditya Birla group have been doing business with a focus on society for decades, long before CSR became a popular activity.

Indian IT giant, Infosys is involved in CSR activities through the Infosys foundation. Dabur India focuses on Overall Socio-economic development of rural and urban poor through SUNDESH (Sustainable development Society), a non-profit organization which operates in Uttar Pradesh, Uttarkhand etc. Ramco Systems, as part of its CSR initiative, identifies and awards key talent across the country, with requisites. Recently, the company awarded Ms. Preethi, Gold Medalist at the Commonwealth Chess Championship - under junior girl’s category with a high-end laptop loaded with Chess software.

So, from masses to classes, organizations have incorporated the CSR initiatives according to their capabilities. At present, it is difficult for organizations to be successful without doing their bit to the society. That’s why CSR has become a vital component for any organization to ensure perpetual success and make a difference.
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Enterprise asset management (EAM) involves the management of mission critical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information. The aim is to optimize the quality and utilization of assets throughout their lifecycle, increase productive uptime and reduce operational costs.

Enterprise asset management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information.

The software helps in effective maintenance of assets through preventive, predictive, shutdown and breakdown maintenance strategies. The system also helps enterprises mitigate equipment risks by enhanced safety standards. The streamlined operations and improved asset performance helps organizations increase their investment effectiveness.

EAM is important because it helps organizations track, assess, manage and optimize asset quality and reliability. Asset intensive Organizations have hundreds, thousands, even millions of assets which needs to be maintained to maximize / optimize life of these assets to increase the return on investment.

The key features of effective EAM are:

  • Work management.
  • Maintenance Strategies (Preventive/ Predictive / Breakdown / Shutdown).
  • Planning and scheduling.
  • Supply chain management.
  • Health and safety.
  • Mobility.
  • Analytics.
  • Improved Asset Health at reduced cost through data driven maintenance Programs​
  • Complete visibilityon entire maintenance data across Equipment, across Models, across Branches to aid in analysis & decision making such as to Repair or Replace the Equipment​
  • Insightful analysis of Inspection Data to improve customer satisfaction​
  • Effective maintenance management enhanced by predictive maintenance and inbuilt analytics​
  • Increased reliability and safety, keeps complete track of all the inspections & calibration schedules​
  • Mobile Application enables users to execute work while “in the field” leading to minimized non-productive time and increased productivity and reduces duplication of work and human errors in recording information.​
  • Quick turnaround time through Actionable Notification & Alerts for every process in real time and accessible anytime and anywhere.
  • Improved Regulatory Part of asset management involves the implementation of better O&M practices, which can significantly improve compliance.

Asset Intensive companies under the following Industries :

  1. Ports
  2. Cement and Mining
  3. Utilities
  4. Fleet Maintenance
  5. Equipment Rental
  6. Other Manufacturing
  7. Real Estate & Infrastructure
  8. Power Generation

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