Next-Gen APM Solutions Drive Adoption, Accessibility And Scalability For Industrial Firms

Next-Gen APM Solutions Drive Adoption, Accessibility And Scalability For Industrial Firms

In the rapidly evolving landscape of asset performance management (APM) solutions, the success of vendors hinges upon their ability to meet the changing needs of businesses. Industrial firms today demand APM solutions that not only deliver powerful analytics but also prioritize intuitive user interfaces, streamlined workflows, preconfigured analytics and cloud-based deployment.

From a customer’s perspective, APM software implementations are often perceived as time- and cost-intensive projects. Recognizing the need to change this, vendors are deploying multiple strategies to improve the UX, efficiency and scalability of their APM solutions. Verdantix has detailed these strategies in a recent market insight report, highlighting how vendors have:

• Created lightweight APM applications: GE Digital announced its Accelerator product line, which offers pre-built templates for predictive analytics, asset management strategies and reliability processes. These tools accelerate time to value, scale APM for a broader range of assets and deliver financial value across the enterprise. GE Digital aims to simplify the development and configuration of APM software, allowing customers to expand their asset management processes without extensive customizations.
• Improved intuitiveness of existing applications: Netherlands-headquartered asset integrity software provider Cenosco has revamped its mobile offering to prioritize inspections and operator rounds. This integrates seamlessly with its web application to facilitate the ingestion of field inspection data directly into risk-based maintenance workflows. Cenosco also introduced Dynamic Forms, which enable users to create personalized checklists with real-time data capture, offline functionality, and integration with CMMS and EAM software.
• Offered preconfigured asset failure models: Itus Digital offers pre-built asset strategy libraries that include failure modes, preventative maintenance activities and prescriptive actions for over 200 common asset types. This accelerates time to value for customers by alleviating much of the burden of performing reliability-centred maintenance (RCM) analysis. Itus Digital offers a free and easy-to-use solution to assess asset risk and criticality with the aim of helping asset maintenance managers quickly generate insights into asset performance and failures to support improvement opportunities and maintenance strategy development.
• Leveraged generative AI: Cognite recently announced Cognite AI: a comprehensive chatbot-style suite of generative AI capabilities within its industrial DataOps platform, Cognite Data Fusion. Rather than digging through schematics, old training modules and legacy data sets, this suite will enable field workers to use natural language to query, troubleshoot and learn about asset failures on the spot. This will significantly reduce the time and cost needed to address a business user’s specific data needs.

To learn more about the shift in the APM software market and vendors’ evolving strategies, please visit the Verdantix research portal.