To gain more information and control over their enterprises, some utilities are turning to an emerging field of technologies and strategies, known as APM, that aim to improve and optimize asset management by centralizing asset information in a way that it can be usefully analyzed.
APM builds a bridge between software and other relevant sources of asset data to provide insight on ways to cut costs and improve the safety and reliability of the power grid.
“APM technologies are rapidly taking shape as vendors work to aggressively address the market and offer a more streamlined approach for utilities to pursue continuous improvement,” says Lauren Callaway, research analyst with Navigant Research. “The leading players in this field have worked to address challenges such as interoperability of multiple enterprise systems and usability while displaying a relatively strong track record for integration of their commercial product.”
While many utilities are interested in evolving their approach and tools for APM, few pilots have been implemented and even fewer projects have gone into full production, according to the report. This leaves many vendors with a strong market vision and an eagerness for opportunities to prove the success and return on investment (ROI) of their solutions in the field.