For many small- and mid-sized enterprises (SMEs), the jury’s still out on asset performance management (APM). As previously covered, this hesitation to adopt ABM frequently stems from concerns about price and value—and it’s not completely unfounded. The wrong APM solution can bloat your spend, prolong time to market and introduce greater inefficiencies for your team. That’s why it’s imperative for SMEs to understand what they’re paying for.
Fortunately, Verdantix recently published a report that demystifies the core capabilities of an APM solution. Downloading the report is a great way for SMEs to learn what expertise, services and platform features to look for when vetting potential solution providers.
For a sneak peek into the report, here’s a look at the characteristics experts recommend you look for in an APM solution.
1. Public cloud-based analytics platform
Public cloud offerings like Amazon Web Services have helped make APM technology readily available to SMEs. By acting as the foundation of an APM solution, the public cloud gives you an affordable, scalable means of storing and analyzing condition and performance data from industrial assets to improve operations and planning of those assets. This ubiquitous data store becomes the fuel for the entire solution.
2. Dedicated expertise
Technology is only as effective as the experts guiding its application. For this reason, a true APM solution should pair with dedicated expertise and seasoned domain knowledge. Not only will the right provider put experts in engineering, consulting and technical support at your fingertips, but these experts will come from your world in power generation, utilities and water infrastructure.
3. A full lifecycle asset performance management suite
The right solution will support you at any point in the asset management lifecycle, from planning to ongoing operations to performance improvement. It should do this by collecting data from your various control systems and process historians, leveraging tools like artificial intelligence to analyze and interpret operational behaviors. As a result, your team gains the insight to make forward-thinking decisions about failure prevention, maintenance and investments.
Learn how our ASSET360 platform specifically addresses these characteristics.