As the world is becoming more dynamic, complex, and digital, it is really important to be agile, especially in asset intensive industries such as utilities, where customers expect personalized products with faster delivery. Essentially, asset-intensive industries face disruptive challenges from changing business requirements and latest advancements in technology. Utilities need to focus on being more efficient, reducing cost, avoiding unexpected incidents, and coping with business revenue objectives.
Similar to other organizations, utilities strive to achieve higher profit and increase revenue. They spend billions to buy, operate physical assets to achieve their business goals. Asset managers are responsible for maximizing return on assets consistently and reliably. They need to optimize assets’ performance, maintain them perfectly, and reduce the risk of unexpected shutdown and failures. This is not an easy task since each day assets become old, they break and sometimes stop working. However, a wave of change and innovative technology such as mobility, predictive analytic and new business models are upending the traditional assets management system.
It is high time for utilities to cope with technological disruptions and find innovative ways to compete in today’s competitive markets where the best in class, visionary companies are already receiving the most from their existing investments in assets and improving profitability. As an asset-intensive company, utilities can extend their asset’s life, get great asset performance, and drastically improve workforce productivity only when their existing enterprise asset management systems get streamlined and mobilized with added features and functionality that is needed by today’s employees ranging from asset managers to plant managers to supervisors to field workers.
As enterprises consider adopting a solution for their enterprise asset management, it is important to approach this new initiative carefully. A distinguished panel comprising of CEOs, CIOs and analysts, along with Utilities Tech Outlook’s editorial team reviewed and shortlisted the top companies that are at the forefront of delivering turnkey asset management solutions. We present to you Utilities Tech Outlook’s “Top 10 Asset Management Solution Providers -2019,” featuring companies that add value to the asset management domain.