An Asset Performance Management (APM) system is the utility companies’ key to advanced and intelligent asset management.
FREMONT, CA: The aspects of utility asset management are changing as rapidly as the trends driving the utility industry. Utility companies are now discovering new, technology-driven opportunities in asset management. Asset Performance Management (APM) solutions, which include an array of tools and technologies for effective and evolved asset management capabilities, are now emerging as promising enablers for utility companies. By putting together networks of smart sensors, analytics tools, artificial intelligence, and other such technologies, vendors have come up with the next-generation of asset management capabilities in the form of advanced APM solutions. The following list mentions why utility companies should consider investing in the latest breed of APMs.
• Makes Asset Management Highly Reliable
Advanced APM systems are mostly cloud-backed and comprehensive. These features induce a high amount of reliability in the utility asset management stream. Utility companies often handle a lot of critical assets. Today's APM systems are optimized to allow operators a good view of all the operational assets. The option of the cloud also ensures there are no sudden disruptions in asset management operations. Besides, seamless integration with existing asset management solutions is also an advantage.
• Allows Streamlined and Real-Time Maintenance
The ability for intelligent and automated scheduling allows streamlined processes in asset maintenance. The intrinsic intelligence also empowers the system to provide plant operators with timely recommendations regarding which aspects and equipment need immediate fixing. The condition data that an APM accumulates is highly accurate, making asset maintenance relevant and targeted.
• Contributes to Profitability
The optimization of asset management processes, as well as the improved health of critical assets, allows utilities to make extra profits. Utility companies can now deploy advanced APMs and ensure predictive and proactive decision-making, which helps reduced capital, as well as operational expenditure.
APM systems carry a lot of value in today's era of smart utilities. The reliant, relevant, and intelligent features that APM delivers are indispensable for a modern utility company.