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The Four Key Business Drivers Utility Asset Managers Should Focus On

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The operating environment for utility companies poses continuous and evolving challenges. These include regulatory uncertainty, environmental mandates and paradigm shifts such as the surge in renewable energy, the rise of energy storage technology and the increasing demand for distributed generation.

With the industry arguably facing more changes at present, the pressure is equally increasing for utility leaders to operate strategically and minimize risks. The imperative for utility executives and managers is clear and demanding: maintain assets effectively and safely to maximize production and minimized outages. 

This pushes for the asset management function to become more critical leverage for utilities in achieving business success as they seek to manage the challenges of aging infrastructure, outdated paper-based systems and the changing face of talent. But what defines a top enterprise asset management (EAM) systems for utilities? Here are three key business drivers of EAM that are proven to help improve return on investments (ROI).

 

Improved employee health, safety and security

An asset management system that offers better control of assets and asset-related data can help utility organizations to improve employee health, safety and security. Deterioration of assets due to lack or ineffective maintenance pose health and safety risk and affect the undertaking of workplace activities. In addition, poor maintenance practices expose field employees with direct contact with assets to the risk of malfunctions.

Ensuring that each asset across the enterprise is up to code with safety, health and environmental regulations is key in managing a large number of assets.

 
Enabling a mobile workforce

Turning to EAM systems that allow workers to perform activities on mobile devices and free them from desktops can help your organization save time and increase efficiency. Enabling field-level employees to capture data at the transaction point allows for better decision making and faster reaction time. 

Innovapptive’s EAM solution works with consumer-grade or industrial rugged mobile devices to provide anywhere-anytime access to information, features, and support – in online or offline mode. It supplies all the field-ready, SAP® Certified mobile applications that utility managers need to monitor and maintain physical assets, including the ability to access maintenance records and work orders.

 

Building connected workers

In traditional asset management, workers in the field face limitations when working because they are not always connected with each other, with the back office or with management. A next-generation EAM solution that connects workers through intuitive devices, platforms and processes can provide clarity over roles, responsibilities and risk ownership, allowing workers to perform efficiently.

Innovapptive offers mWorkorder and RACE Dynamic Inspection Forms, a plant and equipment solution that supplies intuitive user experience. It ensures every connected worker in the field is provided with important and highly relevant data and analytics.

 

Works within your SAP system

Identifying a solution that is designed to work entirely within your existing SAP systems can help you integrate processes and extend your asset management capabilities. As an SAP partner, Innovapptive product offerings are SAP® Certified solutions that are configurable to suit your unique needs. 

Regardless of the challenge your utility company face, if your chosen EAM system performs well in all of these key business drivers, you are getting an objective sign of success.

 

Leading your journey to utility asset management excellence

Innovapptive’s EAM offering helps utilities make better decisions about active asset management by providing all the field-ready, SAP® Certified mobile applications needed to monitor asset performance, rake remedial action, and transform a reactive workforce to build agility into the business model.

As you evaluate and invest in disruptive technologies for your utility business, gain a better understanding of how conversational operations accelerate digital utilities transformation. This was recently covered in a free white paper by Innovapptive.

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As a leading provider, Innovapptive has supported a number of utility organizations in their efforts to automate and optimize asset management, connected workforce and more.

 

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