Improve
Asset availability
Asset Performance Management with Advanced Analytics
Reduce
Costs
Extend
Asset Lifetime
The IPS®APM (Asset Performance Management) is one of our solutions designed to enhance the performance and reliability of assets, reducing costs and extending their lifetime. Advanced analytics assess asset health and importance, along with risk evaluation algorithms calculate the Probability of asset Failure (PoF). The solution seamlessly integrates with various systems, including SCADA, GIS, and ERP (e.g., SAP, Maximo), enabling efficient data exchange and improved decision-making.
IPS® Asset Performance Management solution is intended for organizations that rely on strategic assets to drive operational efficiency and maximize asset reliability. It is developed for industries such as power utilities, oil and gas, and water and wastewater utilities.
It is a proven fast track to lower costs and better efficiency.
What are the main benefits of APM
IPS®APM provides comprehensive capabilities for managing asset performance in the electrical power transmission and distribution industry.
The solution offers a strategic approach to enhancing asset performance, efficiency, and reliability during their lifecycle. IPS®APM leverages data analytics, predictive maintenance, and various integrated technologies and algorithms to ensure that all assets operate at their top performance. This reduces downtime and extends asset operational life, consequently lowering maintenance costs.
Manage Risk
Predict Assets Failure
Asset lifecycle management
Asset Investment Planning (IPS®AIP)
Inventory management
Master analytical library
Effective risk management is essential for more than just reducing costs and minimizing unplanned downtime by predicting asset-related incidents. It also helps balance operational performance with the asset's life-cycle cost. By employing risk management strategies, you can prioritize future investments, enhance availability, and ensure that critical assets and systems are consistently monitored and protected against emerging threats.
Manage Risk
Using artificial intelligence, the software can predict failure by monitoring an unlimited number of assets and providing an early warning of asset failure and increased risk of asset failure. Integrated algorithms for prediction allow customers to eliminate unnecessary inspection and maintenance regimes and time-consuming, expensive manual monitoring of asset performance.
Predict Assets Failure
Optimize the profit generated by your assets throughout their lifecycle. Solutions such as IPS®APM help businesses better understand each asset's lifecycle. The software can eventually assist owners in making better decisions, maximizing equipment efficiency, and reducing spending costs and maintenance.
Asset lifecycle management
IPS®APM can be extended with IPS®Asset Investment Planning, a module for investment planning and scenario creation based on budget allocation. Integration is supported through web services. With IPS®AIP, users can enhance complex, longer- term tactical and strategic decisions relating to the CAPEX/OPEX budget allocations and overall asset management planning.
Asset Investment Planning (IPS®AIP)
Up-to-date asset inventory management should be the basis of every asset-intensive organization. With a proactive and automated approach, enterprises can maintain an up- to-date asset inventory that is accessible and accurate. Make tracking of your asset lifecycle simpler and more accessible with IPS®Inventory Management.
Inventory management
IPS has the world’s largest specialized analytics library for electrical power systems available on the market, which we are constantly improving, extending, and sharing with our customers.
Master analytical library
Boost your efficiency and reduce downtime
See our portfolio in action. Schedule your personalized demo now and learn how our solutions can work for you.
Implementing Asset Performance Management
Implementing APM is crucial for maintaining the highest operational standard possible. IPS’s strategic approach to APM implementation enables utilities to operate more efficiently in an increasingly complex and competitive landscape.
A reliable APM system always keeps track of assets, and with advanced analytics implemented, it can successfully fight downtime, reduce risks, and consequently lower costs.
Investment and Planning Prioritization
Get better insights into asset conditions, risk assessment, and performance evaluations. Use this valuable information to prioritize investments based on asset health, criticality, and financial impact.
Make Informed Decisions
Access to critical information is a standard feature embedded in the IPS®APM solution. It allows executives to monitor asset performance, health indexes, and key performance indicators.
Integration
IPS®APM offers integrations with various operational systems, such as GIS, SCADA, NMM, and PSS-E. This ensures that operations can access operational data and align asset performance management with strategic objectives.
Analytics Aggregation
Our solution can aggregate analytics for complex objects such as substations or lines, providing a performance overview at the facility, region, or event grid level.
Reporting and visualization
Reporting and visualization capabilities allow executives to gain insights into asset performance, investment plans, and risk assessments.
Decision-Making Support
Features such as MDI diagrams, risk matrices, simulations, and predictive analytics offer decision-making support. Leverage these tools to assess risk, evaluate investment scenarios, and make data-driven decisions.
Asset Aging Models
By integrating observations from maintenance and malfunctions into the asset management system, our APM solution ensures that individual asset aging models are continuously updated and improved, leading to better risk evaluation.
Achieving excellence with advanced analytics
The right information is at your fingertips.
More than just a software
For the past 20 years, we have consistently delivered applications specifically developed for electrical power systems. we have established a wide network of satisfied customers and partners around the world.
Read how our customers are delivering better results with IPS®APM with Advanced Analytics.
Try It Out
Unlock the world’s largest out-of-the-box analytical library for electrical power systems. Contact our experts and book a 60-minute demo to see how IPS®SYSTEMS can benefit your business.
FAQs about Asset Performance Management
Asset Performance Management (APM) refers to a centralized and standardized system designed to manage asset performance, particularly in the electrical power transmission and distribution industry.
The APM can benefit utility companies by providing comprehensive capabilities for asset optimization, including risk management, maintenance strategies, work management and reporting.
The APM can integrate with existing systems through several methods. To name just a few: APM can integrate through Web Services Integration which enables data flow between different Asset Management Solutions, IPS®IDL Intelligent Data Lake, which ensures data quality and consistency by collecting, storing and delivering data analysis. Additionally, it can also integrate through CIM-compliant systems, which allows the seamless bi-directional exchange of information with systems such as SCADA, PSS®CAPE, and PSS®E.
The industries that can benefit from the IPS®APM solution include Electrical Power Transmission and Distribution, as our solution is specifically designed for managing asset performance in the electrical power sector. Asset-intensive organizations, basically any organization that relies heavily on physical assets, and organizations focused on risk management can also benefit from the solution. The solution’s ability to structure risk matrices based on health scores, probabilities of failures, and financial consequences makes it valuable for industries where risk management and strategic investment are crucial.
You can get training on using IPS®APM through the Knowledge Management platform, which is part of the IPS® system. The platform offers custom-generated multimedia lessons and knowledge checks created as practical tests. It tracks training activities, courses, and lessons, allowing users to learn on-demand at their own pace. Additionally, users can get on-site or remote training.