Discover your roadmap to successful digital transformation
Many asset intensive organisations are embarking on a journey towards digital enterprise asset management, often driven by one or more significant challenges:
More for less: sources of funding are under pressure – whether the source is consumer billing, shareholder investment or government grants, asset owning organisations need to figure out how to meet increasingly complex demands for service with a reducing budget.
Increasing service demands: Today’s customers have increased expectations of customer service and information availability and are also increasing their use of the services provided by asset intensive organisations. In the UK, passenger numbers on the Mainline railway are forecast to grow at 5% compound for the foreseeable future; usage of Transport for London services has increased by 30% in the last 5 years; and across the UK the need for hundreds of thousands of new homes will increase demands on power, water, gas and highways as well.
Safety and compliance focus: Regulatory regimes are developing worldwide and are increasing the need for organisations to set and demonstrate compliance with asset management strategy. In addition, workforce and customer safety and security are taking centre stage as legislation places increased personal accountability on Executives.
Technology advances: Today’s assets are increasingly instrumented, resulting in vast streams of new performance and condition data being available in addition to the historic installed base of SCADA systems, yet early adopters of these technologies are struggling to integrate performance data from operational technology with their asset management systems – contributing to many failed “IoT” and “Big Data” initiatives. In addition, the increasing sophistication and “always on” nature of wearable and mobile technologies is opening up opportunities to improve workforce productivity and safety – yet few organisations can leverage the Digital Transformation.
Ageing workforce: Many organisations are facing a looming skills gap as experienced engineers retire so need to systemise the knowledge of how to maintain assets and deliver operational services – especially in the light of the need to reduce operational expenditure.
The track record of delivering a step change in asset management capability and transformation to a Digital enterprise is not encouraging. EAMS Group global research indicates that 90% of Enterprise Asset Management initiatives fail to deliver their expected Return on Investment, while the number of organisations which have successfully demonstrated significant value is relatively small. Successfully transforming into a Digital Enterprise requires a clear and concise roadmap.
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Designing the Transformation
Faced with the need for transformation rather than the incremental change implied by the confluence of these drivers, organisations need to understand their current capabilities in detail; be clear about how to structure a transformation roadmap which minimises risk but includes all elements required to deliver world class outcomes; and ensure line of sight to the benefits that the transformation will deliver.
EAMS Group offers a Digital Diagnostic service where your organisation is assessed by members from our industry leading team of experts. They will discover your weaknesses, your strengths, identify the opportunities and present back to your leadership team an action plan with manageable steps and benchmarks for reaching your end goal.
The Diagnostic is designed to define strategic goals and combines leading practice insights from PAS 55/ ISO 55000 with over 30 years’ experience of working with clients, enabling you to become world class in asset and safety management. The latest evolution of the Diagnostic incorporates a number of new digitally focused areas of analysis:
- Maturity of information specification management as a distinct capability
- Extended analysis of the maturity of technology enablement including IT/OT integration; Building Information Modelling; Visualisation capabilities including 3D and virtual reality; mobile and wearable technology exploitation; and cognitive and predictive analytics
Working with our clients we minimise the risk of failure and inability to achieve return on investment through our tools and crucially the experience and knowledge of our consultants – many of whom hold PhDs in asset disciplines and have run operational business units in various asset intensive industries globally. We leverage a range of business partners to ensure that we maintain our capabilities and invest extensively in research and application of leading technologies, so our clients can be confident that the recommended roadmap is deliverable.
In a world which needs increasingly sophisticated Enterprise Asset and Safety Management, the EAM Group Digital Diagnostic provides the way forward.
Our Strategic Advisory Group using our Digital Diagnostic models and toolsets will enable your future value to be realised through a short-focussed engagement, accelerated by industry benchmarking and expertise. An example of the EAMS Group Digital Diagnostic can be seen below:
Visit the Digital Transformation Centre and see how your journey to world class Enterprise Asset Management can be reaslised