AVEVA's recently published global survey on key drivers for investing in digital transformation found that asset performance management (APM) initiatives are the most demanding when it comes to investing in technology. The survey results show that operations and maintenance professionals working with an APM system are different from other professions: When it comes to building new products and services that bring actionable insights to the business, these respondents rate technology as very important.

The results of the survey also showed that APM professionals in all countries surveyed consider enterprise asset performance management to be highly relevant to their business. However, they consider Condition and Preventative Maintenance to be equally or even more important when it comes to asset reliability.

The survey identifies the most important technical requirements of APM experts: comprehensive and forward-looking software solutions for engineering and industry with real-time data visualization and augmented, virtual or mixed reality.

Fortunately for APM professionals, there is no shortage of new technologies to drive digital transformation: There has been a global disruption in asset performance management. APM 4.0. is redefining the asset lifecycle for the industry, especially for manufacturing.

The APM revolution has begun

Leading manufacturers are using APM 4.0 to achieve a balance between maintenance performance and the overall economic performance of their assets. For manufacturers and producers, APM 4.0 is the coming together of new operating models, objectives and related technologies. It helps digital transformation initiatives exceed expectations while improving the bottom line.

Companies have been talking about expanding the monitoring of their assets for many years. Until now, they have faced two obstacles: on the one hand, sensor technology was very expensive and, on the other, it was complicated to send the data to the people who needed it. Today, new and innovative technologies have paved the way for real-time and predictive analytics. In the future, there will be the potential for autonomous operation.

From an operational perspective, APM 4.0 uses the information and insights that these new technologies offer in maintenance. The result is intelligent and networked systems with lower maintenance costs and higher availability.

Celebrating the successes of the APM

AVEVA APM helps users optimize their profitability by balancing risk, cost and performance while ensuring a safe and reliable environment for employees. (Click on the image to enlarge).

© AVEVA

Early adopters of APM 4.0 can achieve an optimal balance between the frequency of maintenance of their equipment (cost control) and minimizing the risk of unplanned downtime for the business. This gives them a competitive advantage by reducing operating costs, improving asset reliability, extending asset life and improving asset decommissioning.

Companies around the world are celebrating the successes of APM 4.0. Asset Performance Management 4.0 has helped reduce inventory by millions of dollars, allowing companies in almost every industry to analyze their inventory activities, such as order frequency, turn count and inventory value.

The advantages of action-oriented insights

AVEVA is the first provider in the market to offer the portfolio breadth and expertise to help clients fully realize untapped value, gain control of asset strategy, and plan and execute the most efficient actions. These capabilities redefine the scope of asset performance management, providing clients with proven and measurable benefits.

Together with AVEVA, you can develop an APM 4.0 strategy that balances asset utilization, cost control and regulatory compliance. This allows you to improve how your people, processes and technology perform optimally. Learn more about how APM 4.0 can improve your business goals and empower your teams.