What are the Basics of Asset Lifecycle Management and How does Cryotos CMMS Manage your Assets?

Article Written by:

Ganesh Veerappan

Businesses need effective systems for managing the lifecycle of their assets. Asset Lifecycle Management (ALM) is a process that addresses all stages of an asset's life span, from purchase to disposal. A comprehensive ALM strategy can help companies improve efficiency, reduce maintenance costs, and maximize the use of their assets. Implementing an ALM system can bring tangible benefits to businesses that rely on ongoing asset management.

What are the Basics of Asset LifeCycle Management and How does Cryotos CMMS Manage your Assets?

Asset Lifecycle Management (ALM) is a key tool for organizations looking to maximize efficiency and optimize their use of assets. Achieving this has become simpler nowadays with the use of CMMS (Computerized Maintenance Management Software).Cryotos CMMS is an exemplary CMMS designed to enable businesses to automatically manage the asset lifecycle process, giving them real-time visibility into their assets' performance and necessary maintenance. In this informative blog post, learn more about how Cryotos CMMS can help you effectively manage your assets.

What is the Asset Lifecycle?

The asset lifecycle is a comprehensive process encompassing an asset's various stages, from purchase to disposal. These items can include physical and non-physical components like equipment and machinery, software, and buildings. Each item has a distinct value to an organization, so it must be managed throughout its entire lifecycle.

What is Asset Lifecycle Management?

Asset Lifecycle Management (ALM) involves managing an asset from acquisition to disposal to get the most out of its operation. From optimizing asset use and performance to minimizing costs and risks associated with usage, ALM helps organizations obtain the greatest value from their assets. By following best practices for ALM, organizations can ensure efficient operations and maximize returns on asset investments.

ALM includes planning, procuring, deploying, maintaining, and disposing of assets to ensure they remain in good condition while providing optimum returns. Asset tracking, maintenance scheduling and repairs, and managing warranties/service contracts are all part of this process that ensures maximum efficiency and cost savings over time.

Stages involved in Asset Lifecycle Management

Here are the several stages or phases an asset goes through during its lifecycle.

In the initial phase of Asset Lifecycle Management (ALM), a complete plan is developed to make sure that any assets acquired are right for the organization and provide maximum value; This involves analyzing the current state of existing assets, tentatively budgeting and forecasting any costs associated with owning those assets, such as acquisition, upkeep, and disposal expenses. Successful planning guarantees that each asset chosen is to the company's objectives and adheres to safety regulations while offering a cost-effective return on investment. Poor planning could mean an organization's inadvertent venture into wasted resources or inadequate acquisitions; thus, it is paramount to ensure effective preparation.
When acquiring an asset identified during the planning stage of Asset Lifecycle Management (ALM), organizations must consider multiple factors such as cost, quality, and delivery time to find the most appropriate solution. This phase includes finding suppliers or vendors, evaluating proposals, and selecting the best option while negotiating warranties and service contracts. Upon acquisition, the asset is added to inventory, and its information is stored within an Asset Management System to monitor its lifecycle costs over time better. The Acquisition stage aims to finalize a purchase agreement at optimal price and quality that meets the organization's objectives. Its careful execution helps organizations build their ideal asset portfolio with minimized risk for effectively managing costs.
The deployment phase of Asset Lifecycle Management (ALM) involves putting the asset into operation and involves several activities; This includes configuring the asset to meet organizational requirements, integrating it with other systems, testing, commissioning, and training staff on how to use it. The objective is to ensure successful setup, adequately meeting organizational needs, with maximum performance optimization while minimizing any potential downtime caused by the process. Organizations can minimize disruptions and maximize efficiency and safety by completing the deployment stage effectively.
The maintenance stage is the fourth phase of Asset Lifecycle Management (ALM). Organizations monitor and maintain their assets during this process to keep them running optimally. Depending on the asset's criticality and type, this could include proactive and reactive maintenance, regular inspections, repairs, and upgrades. Maintenance aims to reduce downtime, minimize costs associated with repairs and replacements, and preserve and extend the asset's functioning lifespan. Determining if an asset operates reliably at peak performance levels helps organizations return maximum value from their investments.
At the end of an asset's lifecycle, organizations must retire or dispose of it responsibly; This includes decommissioning the item and determining how to minimize any environmental impact based on local, state, or federal rules and regulations; This helps organizations manage their assets sustainably while avoiding risks and extra costs associated with improper disposal. As part of this process, any sensitive data or information attached to the asset needs to be appropriately handled or destroyed. Effective disposal is key to reducing environmental impact and maintaining financial responsibility.

Benefits of Asset lifecycle Management

Improved Asset Performance
Organizations can maximize asset performance with the help of ALM. Following proper maintenance, upgrading, and substitution protocols allow for decreased downtime, greater efficiency, and a prolonged life cycle of assets. These practices lead to substantial savings in time and resources.
Reduced Costs
ALM is an invaluable tool for cost control; it provides transparency into the total cost of ownership (TCO),discovers potential savings possibilities, and optimizes asset utilization. All this leads to reduced maintenance expenses, energy-efficiency improvements, and better asset utilization. ALM is a key factor in avoiding unnecessary expenditures and optimizing costs.
Better Compliance
Organizations rely on ALM to meet regulatory and industry standards, ensuring legal compliance and avoiding the consequences of non-compliance. With ALM, organizations can minimize the risks associated with fines, penalties, and other legal issues.
Improved Decision-Making
ALM provides organizations with a range of data and analytics that create visibility of their assets and enable better decision-making. ALM allows for asset portfolio optimization, risk reduction, and attainment of organizational objectives. Utilizing ALM can help an organization strengthen the capabilities associated with acquisition, deployment, and maintenance.
Enhanced Safety
ALM's use helps organizations protect against potential liability risks associated with their staff, customers, and the public from potentially hazardous equipment or machinery. Adopting ALM practices can aid in preventing accidents and other dangerous situations that faulty assets may otherwise cause. Ensuring asset safety is essential to risk management, and ALM could play an important part in that process.

How can Cryotos CMMS Help Manage your Assets?

Cryotos is highly acclaimed for its user-friendly interface, cost-competitiveness, and 24/7 customer service. Enterprises that opt for Cryotos can expect an increase in the performance of their operations due to its cutting-edge features, such as:

Asset Tracking
Cryotos CMMS is designed to assist organizations in tracking, managing, and optimizing their assets from purchase to disposal. Incorporating it into your operations helps maximize the performance of your assets, reduce unexpected downtime, and extend asset lifespans.
Maintenance Scheduling
Cryotos CMMS offers a variety of automated maintenance scheduling features that enable organizations to carryout preventive maintenance tasks, inspections, and repairs efficiently. Advanced scheduling capabilities allow businesses to set up preventive activities based on usage, condition, or time intervals; this helps lower maintenance costs and keep downtime to a minimum.
Real-Time Data and Analytics
Cryotos CMMS provides invaluable information and insights that help businesses gain control over their assets. Their real-time data, analytics, and maintenance history capabilities enable smarter decisions on asset acquisition, deployment, and maintenance; ultimately helping organizations optimize their portfolio.
Mobile Access
Cryotos CMMS offers mobile access to asset data and maintenance schedules, allowing technicians to perform maintenance duties and modify asset information on-site. This technology can help organizations increase effectiveness, decrease downtimes, and upgrade safety measures.


The benefits of Asset Lifecycle Management (ALM) are clear. It enables organizations to effectively manage and optimize their asset portfolio throughout its entire lifecycle, resulting in Improved Asset Performance, increased efficiency, Reduced Costs, better safety compliance, and optimized utilization.

Cryotos CMMS is an excellent tool to maximize the value of ALM. It provides real-time data analytics, automates maintenance tasks, optimizes asset utilization, and streamlines processes. This reliable CMMS reduces risk and helps organizations achieve their business objectives.

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Here From Our Esteemed Clients!

Amrapali Exports - Esteemed Clients of cryotos
Anuraj Sharma - Maintenance Manager

The best thing about Cryotos CMMS software is that it always tells me when something needs to be fixed - before it breaks and cost me a fortune!

The software is very user-friendly, and even if I don't know how to do something, the support team is always there to help me out.

Most importantly, unlike other such software, Cryotos is editable and hence the user can modify how the software works as per their need, we made several changes in the workflow & flowchart with the help of development team.

I don't know what I would do without Cryotos! I've been using it for years, and it has saved me so much time and money. I highly recommend it to anyone who wants to manage their assets efficiently.

Resil Chemicals - Esteemed Clients of Cryotos
Jeevan Belliappa - Head, Information Technology

Since we've been using Cryotos CMMS Software, our asset maintenance management has been running more smoothly than ever. We're able to track and optimize our preventive maintenance with ease, thanks to the customized process workflow. This has been a lifesaver for our team!

The Cryotos CMMS software has allowed us to manage our assets more effectively and efficiently. It has helped us to improve our asset utilization. The software is user-friendly and easy to navigate, and the support team is always quick to help with any questions we have. We're very happy with the results we've seen so far and we're confident that we'll continue to see improvements in our asset management as we use the Cryotos CMMS software.

Planys - Cryotos Esteemed Client
Antony Jacob Ashish - Lead, R&D

Cryotos goes above and beyond when it comes to customer satisfaction. Planys Technologies use Cryotos for preventive/ corrective maintenance of our critical systems and not once did we face a problem that was not dealt with immediately. The team is extremely professional and helpful. We can rely on Cryotos when it comes to the operations and processes.

Thanks to the whole team for the amazing performance and thought leadership. It's rare to see teams that can put themselves in the customer's shoes and think from their perspectives - Cryotos team doesthat and more.

We recommend Cryotos if you are looking to put an end to your preventive maintenance problems and sign up with them!

Thanks to the team for an awesome job.

Xpert IFM - Esteemed Clients of Cryotos
Siva Shankar - AGM, (Operations & BD)

On behalf of Xpert FMS we would like to express our sincere appreciation for the excellent support Cryotos team have provided us for our building and facility management. Cryotos has always provided support that is timely and meets our expectations. Professionalism and quick response are the hallmarks of this team.

Sincere appreciation for the team's brilliant performance and wish them continued success. We highly recommend Cryotos as they have executed well on all assigned tasks and continue to outperform.

Thanks to all the hard work, our lives have become easier.

ST Jude India Childcare Centers - Cryotos Esteemed Client
Mukesh J - CIO

We are able to raised the workorder and tracking of these till the closure as helped us to provide better services our beneficiaries. Workflow-based work order management has helped us to define processes for each locations separatley. System provide notification once order is raised for assignment to engineer.

Maspro - Esteemed Clients of Cryotos

This CMMS software is top-notch! I can't believe how much it has helped me with my facilities maintenance management. Customized reports and business intelligence have been invaluable in making better decisions.

The software offers a great deal of customization for each organization's specific needs. They are always updating the software with new features and improvements, which is great. The support team is fantastic - they are always quick to help with any questions or problems we have. This software has definitely made my life a lot easier! It's so easy to use and it's really helped me keep track of all my maintenance tasks in one place. I would definitely recommend it to anyone looking for a CMMS platform.

Al Zain Farms LLC - Esteemed Clients of Cryotos
Mr. Vishnu S Nair

Since we've started using Cryotos, our team has been able to stay on top of all the various SOPs. Checklists and safety procedures are now easily accessible to everyone, and we can quickly reference them whenever we need to. The software has definitely helped to improve our team's communication and efficiency. Plus, the fact that it's cloud-based means we can access it from anywhere, which is a big plus. It has been a great help in keeping everyone on the same page and up to date with the latest procedures.

Dinex - Esteemed Clients of Cryotos
B S Vijaya K. - Maintenance Engineer

At starting it felt some what difficult for scheduling but now it made to easy access.

Review from Capterra

Korrun - Esteemed Clients of Cryotos
Nithin G. - Maintenance Incharge

What do you like best about Cryotos?
Easy to access and data collection,user friendly, the technical team and the supporting team is excellent the way they are solving the issues ontime and the continuous training given by supporting team. I would like to promote the cryotos APK to other industries to use.

What problems is Cryotos solving and how is that benefiting you?
Easily we came to know which machine is problem and what is the issue. And we got the exact data of spare parts stock. Using cryotos APK our machinery maintenance is increased and now we are getting less machines problem.

Review from G2

Aptiv8 IT Solutions
Hashim - Business Project Manager

This CMMS software is top-notch! I can't believe how much it has helped me with my facilities maintenance management. Customized reports and business intelligence have been invaluable in making better decisions.

The software offers a great deal of customization for each organization's specific needs. They are always updating the software with new features and improvements, which is great. The support team is fantastic - they are always quick to help with any questions or problems we have. This software has definitely made my life a lot easier! It's so easy to use and it's really helped me keep track of all my maintenance tasks in one place. I would definitely recommend it to anyone looking for a CMMS platform.

Gurit - Esteemed Clients of Cryotos
Mr. Mohanmurali R

I recently purchased Cryotos CMMS Software for asset management needs at my organization and after a few months of testing and monitoring, I'm incredibly pleased with the results. The software is user friendly, accessible and the design is very intuitive. It covers all the aspects of managing maintenance and repair, starting from preventive maintenance and standardizing operation cycles, to scheduling and streamlining workflows. I am highly satisfied with the performance and the range of features offered by Cryotos. Highly recommendable!

Read Review in G2

Metro Tyres - Esteemed Clients of Cryotos
Mr. Sanjay Beri

Before using Cryotos, asset management and maintenance seemed like an uphill task for my team. Manual processes laden with human errors did not work for us at all. We decided to go with Cryotos after checking out similar products in the market.

The user interface of the software is intuitive and easy to use, making it simple to navigate through the different features and functionalities. I particularly appreciate the ability to track all assets in real-time, allowing me to keep a close eye on their performance and maintenance needs.

Customized work order and workflow creation has reduced the needs to always follow a particular template. Depending on our needs we can create tailor made workflows to suit our requirements.

I highly recommend Cryotos to anyone who would like to unburden themselves of maintaining and managing their critical assets.

Read Complete Review on G2

Dinex - Esteemed Clients of Cryotos
Mr. Yuksel Aksin

As a customer of Cryotos CMMS software for asset management needs, I must say that I am thoroughly impressed with the features and functionality offered by the platform. Cryotos CMMS software has made managing my assets a breeze, and I no longer have to worry about missing maintenance or inspections.

One of the standout features of Cryotos CMMS software is the ability to generate work orders and schedule maintenance tasks. This has made it easy for me to stay on top of maintenance and repair tasks, ensuring that my assets are always in optimal condition.

The software also allows me to track inventory levels which has streamlined my inventory management process. The ability to generate reports and analyze asset performance data has also been invaluable in helping me make data-driven decisions about my assets. Overall, I would highly recommend Cryotos CMMS software to anyone looking for a reliable and efficient asset management solution.

Mr. Sathyendran R.

What do you like best about Cryotos?
I am using this application right now for my service team, very good, user friendly, have lot of customisation in workflow and service reports. the team supported for initial implementation, They have good support team. Myself fully recommended this application.

What do you dislike about Cryotos?
Noting as of now seems all good

What problems is Cryotos solving and how is that benefiting you?
Cryotos application is solving our feild service team operations.

Read Complete Review on G2

Mr. kandasamy S.

What do you like best about Cryotos?
Excellent application for Maintenance activity like PPM,etc
Good team for develop our process as per our requirement like process,Standards,etc
Professional & very Supportive team.
Really appreciated for language change (English to Arabic).

What do you dislike about Cryotos?
There is no negative observation till now.

What problems is Cryotos solving and how is that benefiting you?
Scheduling & PPM for Maintenance Activity.

Read Complete Review on G2

Mr. Yap

What do you like best about Cryotos?
template are ready to use, minimal need for IT knowledge. support team are supportive in all aspects

What problems is Cryotos solving and how is that benefiting you?
We are still in the midst of experimenting all the functions in Cryotos, for now is the ease of using asset management and as a scheduler.

Read Complete Review on G2

Mr. Hari K. - Ram Leathers

What do you like best about Cryotos?
Asset Management - Is Very easy for us, which make us to easily complete the tasks.

We are able to schedule the tasks and at the same time able to capture the daily readings for the machine.

Meter Reading module provides the real time data monitoring for all assets.

The very specific feature of the software is "AMC Monitoring"

What do you dislike about Cryotos?
As of now this software provides a better solution for us.

What problems is Cryotos solving and how is that benefiting you?
Asset monitoring is very helpful.

Able to track the machine availability using the MTTR & MTBF details.

MIS Dashboard - Provides the breakdown information of all our machines.

The dahboards & reports generates the accurate details our assets.

They also provide the customizable dashboard option using Metabase.

Read Complete Review on G2

Dinex - Esteemed Clients of Cryotos
Māris A.

What do you like best about Cryotos?
We used many maintenance CMMS and only in Cryotos is functionality to build your own workflows for work orders and scheduled maintenance. With this CMMS we not need some separate analyzing system like Power Bi, Cryotos have already built-in Metabase system where we can easily build reports and visualizations for reports.

What problems is Cryotos solving and how is that benefiting you?
CMMS help us control all machinery brekdowns and factory problem. CMMS collet all data about our historical data, its help analize deviations. With this system we build all necessary processes which we need in our factory, which are work autonomous.

Read Complete Review on G2

Planys - Cryotos Esteemed Client
Aravindishwar k.

What do you like best about Cryotos?
Cryptos is very easy to use and user friendly which we can easily customise to our needs and while delivering the workprocess it's very convenient to use by the end user as well.

What problems is Cryotos solving and how is that benefiting you?
Cryotos saves our time and space thus act as a great inventory of data which will be accesed from anywhere any time and it helps us to track the work we have done all along it's a best CMMS software.

Read Complete Review on G2

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