Navigating The AIP Software Landscape: Choosing The Best Solution For Your Business

Navigating The AIP Software Landscape: Choosing The Best Solution For Your Business

As part of our work creating the 2023 Verdantix Buyer's Guide: Asset Investment Planning Software, our research team examined the 38 most prominent providers of asset investment planning (AIP) software and conducted an in-depth analysis of 16 vendors. The AIP space is evolving rapidly, with vendors competing to provide the best solutions for decision-making and long-term planning. But with so many options available, how do you choose the right vendor for your organization? Here are some key factors to consider when evaluating AIP providers.

First and foremost, it's important to look for offerings with a proven track record in your industry. AIP vendors often have specific asset libraries and domain knowledge tailored to certain sectors. For example, one provider may have expertise for municipalities in North America, while another may be more suitable for a utility firm in Europe. Selecting a vendor with industry-specific knowledge is crucial for successful AIP implementation. Deighton specializes in the infrastructure sector and uses built-in workflows to help clients comply with federal and state regulations. Similarly, EA Technology has a long history of working in the power transmission and distribution sector and has supported over 60 clients in more than 200 projects. This is reflected in its asset library, which includes models such as substation assets, and overhead and cable networks.

Next, consider the vendor's asset- and portfolio-level optimization capabilities. AIP providers have introduced modules to support investment planning decisions at the asset and project level, but not all vendors offer the same level of functionality. Look for offerings that can support the use cases that are most important to your organization. If you're looking to leverage operational data from EAM and APM solutions, for example, you will want to find a vendor that offers that capability, such as AspenTech, Hexagon or Ultimo.

Another important factor is the vendor's ability to integrate with the firm’s existing technology portfolio. The capacity to combine AIP software with established IT and business processes can significantly reduce change management barriers and demonstrate value across the entire asset management software portfolio. Hexagon’s solution – through its REST API layer, data bridges and web services tiers – allows users to integrate with any external system or enterprise tool.

For more information on asset investment planning software, read the recently published Verdantix report.