Comparing Asset Management to ProMRO is a lot like comparing a horse to a zebra. While these products share some similarities, they are very different animals. Read more to find out which solution best for your business issue - or you may discover you need both!
First let’s dive into each product’s design purpose starting with Asset Management. Asset Management is an advanced module designed for internal equipment maintenance in Dynamics 365 Finance and Supply Chain Management. Asset Management interfaces with fixed assets and enables users to efficiently manage and carry out tasks related to managing and servicing many types of equipment within their organization, for example, machines, production equipment, and vehicles. Asset Management supports solutions across numerous industries. And while Asset Management’s primary function is to manage an entity’s own assets, it also offers limited functionality for billing customers.
ProMRO, on the other hand, is an advanced module which is an extension to the base functionality of Dynamics 365 Finance and Supply Chain Management. It was designed for entities whose business is the sales of maintenance, repair, and overhaul services for other entity’s assets; specifically, industries such as heavy equipment and aviation.
Now let’s delve into some of their individual and shared functionality. Billing is quite different between the two products. In Asset Management, as you can imagine since customer support was not its primary design, billing is very simple. It all starts with a work order and once the work order is completed, the work order is invoiced. The work order can contain items and hours.
In ProMRO, billing can be as simple or as complex as a business requires and it all starts with the quote. If desired, invoice language can be taken straight from the quote for consistency and to ensure it matches the PO on the customer’s side for fast payment processing. ProMRO allows you to process a quick work order or to process much bigger and longer projects. Projects can be fixed price with results based or phased invoicing or they can be time and materials based with regular invoicing.
Both products allow for budget, cost control and forecasts. However, Asset Management is to budget and control the cost of internal fixed assets and their maintenance whereas, ProMRO can be used to budget and control an organizations’ revenue and expenses by project.
The ability to track, inquire and view equipment history as well as record user-defined engineering/attribute values is available in both products, but Asset Management is geared towards internal fixed assets and ProMRO is geared towards tracking customer equipment.
Managing and recording equipment maintenance, repair and overhaul transactions is what both products do, and they both do it well! Just from… you guessed it… two different perspectives. Both integrate with D365 projects, inventory, MRP, financials and offer reporting, dashboards, analytics and KPI’s.
ProMRO offers a substantial amount of functionality to assist with customer sales whereas Asset Management offers none in this area. Asset Management integrates with the fixed asset module whereas ProMRO offers no functionality in this area.
Just as when you compare a horse to a zebra, there is no winner or loser in the comparison! Each product has its own uses and is commendable in its own right! Should you have the need for one or both these products, please don’t hesitate to reach out. Contact us today and schedule your personal demonstration.