ABU DHABI, UAE, 22nd January 2020 - AVEVA, a global leader in industrial software, today announced a significant enhancement to its Asset Performance Management (APM) portfolio - the launch of AVEVA APM Assessment, AVEVA Asset Strategy Optimization and AVEVA Asset Strategy Library.
Today’s announcement completes the integration of the recently acquired MaxGrip software solutions into AVEVA’s APM Portfolio. As a result, customers are now able to realize greater levels of reliability, availability, safety and efficiency in operating their capital assets, and move from reactive and predictive maintenance to prescriptive maintenance. Adding to AVEVA’s comprehensive preventive, condition-based and predictive software capabilities, the integrated solutions will empower the workforce to execute prescriptive guidance across engineering, operations and maintenance resulting in improved efficiency, safety and reliability.
AVEVA’s investment in and integration of APM technologies has also earned it recognition, from Frost & Sullivan, as the market leader in the upcoming Global Asset Performance Management Market Report. "Frost & Sullivan assessment of the Global Asset Performance Management market positions AVEVA as the market leader in the $1.2B space, driven by the 4th Industrial Revolution and digitalization trends.", commented Ram Ramasamy, Industry Director - Frost & Sullivan.
“We have seen customer demand evolve from asset failure prediction to the need for integrated guidance and prescriptive actions. AVEVA is the first vendor on the market to offer the portfolio breadth and domain expertise to help customers fully realize untapped value, gain control of their asset strategy and prescribe and execute the most efficient action,” commented Kim Custeau, Vice President of Asset Performance Management AVEVA. “With this set of capabilities, we are redefining the scope of Asset Performance Management to deliver improved business outcomes for our customers.”
Empowering the industrial connected worker by improving collaboration and increasing agility
AVEVA’s APM Assessment benchmarks a company’s current practices against best in class performance and builds a comprehensive roadmap encompassing people, processes and technology. These metrics, including asset criticality, are then used in AVEVA Asset Strategy Optimization to balance risk, cost and performance of assets. This enables organizations to prioritize maintenance investments and apply the most effective strategy for the workforce to execute.
ADNOC Gas Processing - Leading the way for O&G with Predictive AI
ADNOC Gas Processing is working with AVEVA using predictive AI technology with prescriptive maintenance. “We value our strategic partnership with AVEVA, they set a very good example for what a good collaboration is, and the results that come from this are a game-changer for long-term equipment management and optimization,” commented Ahmed Mohamed Al Abri, Vice President, Engineering & Technical Services ADNOC Gas Processing.
From reactive to proactive, AVEVA’s AI-infused software coupled with a rich asset library, provides the unique ability to empower customers beyond anomaly detection with prescriptive analytics to guide actions and drive targeted outcomes. By deploying these solutions, organizations can now rapidly predict asset failure and then prescribe the most economically advantageous action that will remediate potential asset failures. In terms of business value, these AVEVA’s APM capabilities enable doubling production output, reducing unplanned downtime, and saving $100s of millions in averted asset failures. For the workforce, it means a safer, more reliable environment and better data to support accurate decision making.
About AVEVA:
AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operations life cycle of capital-intensive industries. The company’s engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries. For more details visit: www.aveva.com