Gartner recently released its annual Market Guide for Asset Performance Management (APM) Software and recognized Uptake as a representative vendor.
APM helps operators in industries like manufacturing, transportation, mining, rail, chemical processing, and oil and gas to move beyond time-based preventive maintenance strategies to condition-based approaches tied to financial outcomes. The research notes, “Business processes supported by APM software are becoming an important core business capability for asset intensive organizations. CIOs are increasingly realizing benefits which aid the market transition beyond the use of APM focused on equipment reliability to increasingly leveraging APM to also help improve overall business operations.”
Uptake’s Industrial Intelligence AI software supports and enhances many APM work processes and methodologies used to prevent asset failures, reduce risk, maximize performance and move organizations toward greater operational excellence.
Among the key benefits asset-intensive enterprises are realizing from APM include:
- reduced unplanned repair work
- improved asset availability and safety
- minimized maintenance costs
- reduced risk of failure for critical assets
Gartner uses four key product capabilities to define APM: asset risk management, reliability-centered maintenance (RCM), predictive asset management, and condition-based maintenance (CbM).
Uptake confronts the challenges that maintenance teams experience, and empowers them to quickly effect change. Those challenges are often costly, complicated, and central to operations. We’ve leveraged the power of data and AI through data cleansing, integration, analytics, and a simple user interface to optimize maintenance, mitigate risk, and ultimately support heavy industry operators through actionable analytics to address these challenges.
And yet many of these challenges slow and complicate the adoption of APM. Gartner predicts, “by year-end 2022, only 35 percent of asset-intensive organizations will have asset maintenance activities across their asset base, beyond condition-based maintenance (CbM).”
CbM is one of the more foundational APM methods. Those operators who leverage the varying degrees of APM will proportionately advantage their business by unlocking efficiencies in reliability, sustainability, safety, and productivity hidden in their own data.
We’ll consider some challenges to the adoption and use of APM that we’ve encountered, and how Uptake is solving each of them to quickly realize results for our customers.