Asset Performance Management Software Reviews and Ratings
What is Asset Performance Management Software?
Gartner defines the asset performance management (APM) software market as the software and applications that optimize the reliability and availability of industrial operational assets. The market is particularly attractive to asset-intensive industries, including power, utilities, manufacturing, oil and gas, natural resources, telcos, and transportation (excluding aviation, which has specialized requirements). In these industries, asset failure can have a significant impact on service delivery, the bottom-line revenue, and safety and reputation. APM is primarily deployed on industrial assets, including fixed industrial plants and equipment, linear assets or infrastructure, fleets, and facilities.
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GE Vernova’s Electrification Software business is focused on delivering the intelligent applications and insights needed to accelerate electrification and decarbonization across the entire energy ecosystem – from how it’s created, how it’s orchestrated, to how it’s consumed.
Bentley Systems specializes in infrastructure engineering software. The company focuses on solving the challenge of infrastructure design, construction, and operations across a myriad of fields such as roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. The range of the company's products include software solutions for modeling and simulation, solutions for geoprofessionals, project delivery software, construction management software, and asset operations software. Bentley Systems has a global presence operating in 194 countries.
IBM is a well-established entity focused on technology and development. The primary mission revolves around fostering technological growth and enhancing infrastructure, achieved through focused developments and consulting services. By encouraging inventiveness and innovation, it is geared towards facilitating the transition of theoretical ideas into practical realities, thus improving global functionalities. IBM brings about transformation by creating advanced solutions that reshape and redefine the world.
PASHA Bank, founded in 2007, is a corporate bank based in Azerbaijan that caters to large and small businesses, as well as individuals. Owned by PASHA Holding, a prominent Azerbaijani holding company with diverse interests, PASHA Bank is acknowledged as one of the dominant private banks in the country by virtue of its sizeable equity and assets. Its team comprises roughly 1200 professionals and the bank operates across numerous locations in Azerbaijan, making it accessible to a wide range of clients. In addition to its domestic operations, PASHA Bank has expanded its presence regionally with offices in Georgia and Turkey, widening the scope for international and regional cooperation. The bank stays devoted to maintaining high performance and dependability in its services.
SAP is a company that aims to improve operational efficiency worldwide. The primary focus is on helping customers optimize their business operations. SAP develops innovative solutions to support this objective. The company plays a crucial role in transforming industries by fostering opportunity and equality on a global scale. By collaborating with customers and partners, SAP is capable of making substantial changes across various industries, supporting the growth and development of economies and societies.
eWorkOrders is an internet based Software as a Service (SAAS) providing a Computerized Maintenance Management System (CMMS). Accept work order requests online 24/7, manage work orders, preventive and predictive maintenance, extend asset lifespan, and manage workers. Manage spare parts inventory, generate reports, integrate with other systems using our API.
Accruent provides intelligent solutions for the management of the built environment, including real estate, integrated technology systems, and the connected physical and digital assets. Accruent strives to redefine how organizations utilize data to change their approach to facilities and assets management. By transforming the interaction between people and systems, Accruent makes the process more streamlined. The company has significant office locations in Austin, New Orleans, London, and Amsterdam. It offers its services to a diverse portfolio of industries across over 150 countries worldwide.
MaxGrip, established over 25 years ago in the Netherlands, specializes in Asset Performance Management (APM) consultation. The firm offers comprehensive expertise in maintenance and integrity management, and it has developed a rich presence throughout the globe with primary offices in the Netherlands, USA, and Malaysia. The consultancy's main program, the Asset Improvement Program, along with its expertise in implementing Enterprise Asset Management (EAM) systems, equips businesses with the resources to enhance their asset performance. MaxGrip is also well-versed in facilitating the digital transformation of businesses through the implementation of predictive maintenance solutions and connected frontline worker systems. These efforts enable the firm to successfully address asset management challenges of today and the future.
AspenTech is an international software company focused on addressing today's dual challenge of providing resources for a quickly expanding population in a sustainable and lucrative fashion. The company's solutions manage complex environments where optimizing the asset design, operation, and maintenance lifecycle are crucial. With its focus on innovation and deep domain expertise, AspenTech enables its customers in asset-heavy industries to operate their assets safer, longer, and faster while enhancing operational excellence.
C3 AI is a prominent provider of Enterprise AI software that aims to fast-track digital transformation. This process involves harnessing the power of big data and the Internet of Things to boost asset performance and preemptively address shortfalls through artificial intelligence (AI) and machine learning. Among its functions, it foresees potential supply chain hindrances, anticipates maintenance needs for optimizing asset uptime, lessens energy expenses, and expedites the synchronization of disparate health records to improve patient service timelines. At its core, C3 AI integrates a unique, model-driven AI architecture that significantly bolsters data science and app creation. Its proprietary C3 AI platform facilitates the creation, deployment, and operation of broad-scale AI applications, predictive analytics, and IoT solutions. Utilizing its vast industry knowledge, C3 AI paves the way for enterprises to commence on their digital transition.
Established in 1999, Detechtion Technologies focuses on real-time asset performance management solutions intended for Energy companies. Its solutions are built on a foundation of subject matter expertise, digital twins, and data analytics, aiming to support operational sustainability, productivity enhancement and cost reduction. Detechtion Technologies employs rapidly deployed cloud solutions to connect and manage numerous remote assets and processes globally, aiding companies in reducing operational expenses.
PASHA Bank, founded in 2007, is a corporate bank based in Azerbaijan that caters to large and small businesses, as well as individuals. Owned by PASHA Holding, a prominent Azerbaijani holding company with diverse interests, PASHA Bank is acknowledged as one of the dominant private banks in the country by virtue of its sizeable equity and assets. Its team comprises roughly 1200 professionals and the bank operates across numerous locations in Azerbaijan, making it accessible to a wide range of clients. In addition to its domestic operations, PASHA Bank has expanded its presence regionally with offices in Georgia and Turkey, widening the scope for international and regional cooperation. The bank stays devoted to maintaining high performance and dependability in its services.
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable.
Mainsim provides an innovative approach towards asset and facility management. The primary solutions offered are streamlined towards catering to any type of asset and facility, regardless of their location. The software allows for the easy addition of new assets and operators with a simple click. Furthermore, it facilitates the opening and tracking of new intervention requests, as well as the automation of workflow processes. The company's main focus lies in providing practical solutions that encompass diverse aspects of CMMS software utilization.
Gartner Research
Features of Asset Performance Management Software
Mandatory Features:
Financially optimized maintenance: a) Cost, revenue and failure data analysis for optimized maintenance focus and execution. It includes risk-based maintenance (RBM) or risk-based inspection (RBI) assessments. It calculates the value of an asset output to determine the optimal maintenance regimen to be followed. RBM and RBI take into account the production impact of an asset; b) Correlation of production requirements with maintenance needs to optimize the overall production capacity, maintenance downtime and risk of failure over time to achieve a balance; c) Financial data integration beyond EAM, such as ERP and asset investment planning (AIP), for analyzing financial information related to production output.
Reliability-Centered Maintenance (RCM): a) Data collection and aggregation from EAM systems; b) Root cause failure analysis to identify and address the causes of failures; c) Library of failure modes and recommended practices; d) Failure mode and effects analysis (FMEA) to assess impacts and likelihood of failures; e) Guidance on corrective actions to reduce, delay or eliminate future failures.
Predictive Maintenance Forecasting: a) Statistical modeling and regression analysis of observable characteristics in specific equipment over time; b) Computational data model (such as neural network analysis) that captures complex input-output relationships; c) Methods to determine observable failure indicators (such as machine learning); d) Algorithms (often proprietary ones) that reflect degradation and failure patterns; e) Monte Carlo simulation.
System interfaces: APM products are deployed as stand-alone solutions. Thus, they require predefined adapters to integrate with enterprise asset management (EAM) or computerized maintenance management system (CMMS) tools; the Internet of Things (IoT) or industrial IoT (IIoT); data historians; and operational technologies (supervisory control and data acquisition [SCADA], programmable logic controller [PLC], and condition assessment tools, such as devices and operational performance tools).