IBM, ABB ranked as leading asset management providers

ibm logo elp

ABB and IBM are the leading vendors of APM solutions in terms of strategy and execution, according to a report by Navigant Research.

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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Latest Energy Jobs

View more Job Listings >>