Along with all this cutting-edge technology, Hexagon demonstrates how paying attention to fundamentals is also vitally important to customer success.  We had numerous Hexagon Enterprise Asset Management (EAM) customers come by the Itus Digital booth to talk about the next natural steps in their asset management journey.  We learned how these organizations manage maintenance activities and react efficiently when things require attention. With Hexagon EAM in place, they have a solid foundation to drive the next steps of achieving an optimal balance between risk, cost, and performance of assets.  Now Hexagon EAM customers are asking themselves, what’s next?  How do we eliminate failures altogether and optimize maintenance activities based upon the current risk in the business?  Asset Performance Management (APM) is the additive business process to help achieve these objectives.

As a Hexagon partner, Itus Digital is ready to take these organizations to the next level in their asset management journey.  Itus brings the power of APM to mitigate risk to an acceptable level by operationalizing asset strategies.  With operationalized asset strategies, preventative maintenance and inspection activities are driven based upon current failure risk and early warning is provided when potential failure is detected.  Armed with asset strategies, industrial organizations can optimize the use of maintenance resources and minimize equipment downtime.

Itus Digital collectively has a generation worth of asset performance management experience and has strong ties to Hexagon from a technology perspective.  If you would like to learn more about how to drive APM processes from solutions such as EAM, SDx, and J5, connect with us here.  We look forward to the productive dialog we started at Hexagon Live and to next year’s conference where we will present the Asset Performance Management stories that began at #HxGNLiveGlobal 2023.

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(Houston, TX) –  ABSG Consulting Inc. (ABS Consulting), a leading global risk management company, and Itus Digital (Itus), today announced that they will team to provide clients with a powerful end-to-end asset management solution that maximizes performance and longevity while minimizing maintenance costs based on asset criticality. This alliance combines ABS Consulting’s extensive suite of asset reliability services with Itus’ cutting-edge APM software to operationalize asset strategy via existing data, ultimately providing a clear path to asset management excellence.

The Itus Digital solution is an intuitive and practical application that operationalizes asset strategies by actively managing failure risks​ and working to more effectively maintain and mitigate emerging threats​. The platform is enabled by an asset library that contains more than 200 asset twin models covering common industrial equipment classes, including base failure rates.​

“The Itus platform enables our clients to effectively prioritize and manage their maintenance strategies based on asset criticality,” says Joe Woods, ABS Consulting Vice President of Risk and Reliability. “The combination of our deep domain experience and reliability expertise, alongside the Itus platform, sets our clients up for long term success.”

“We know the current enterprise-level asset performance management, digital twin and industrial AI solutions are expensive to license, challenging to implement and resource-intensive to use,” says Joe Nichols, Co-Founder and President of Itus Digital. “We’re redefining how organizations of any size can manage asset and operational risks; this includes the recent launch of the Asset Risk Analyzer, a free and easy to use solution to assess industrial asset risk and criticality.”

Risk, reliability and maintenance professionals continue to operate under increasing pressure to maximize asset availability and production while minimizing both costs and risks—a goal that has historically lacked a standardized solution industry-wide. This alliance provides data-driven APM solutions across the asset lifecycle through a systematic and affordable process, supported by technical experts that continue to lead the development of key industry guidelines.

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Itus Digital and Wabtec are partnering to deliver Asset Performance Management, APM solutions, for the mining industry by combining Itus’s APM platform with Wabtec’s mining equipment expertise. This dynamic combination enables mining organizations to deliver predictable production, optimize maintenance activities, and reduce operational risk.

Mining Industry Challenges

The mining industry continues to see cost volatility, tight margins, and high demand. This situation requires mine sites to maximize their industrial asset use to meet business objectives.  APM solutions help miners address these challenges. How? By empowering them with optimal maintenance strategies, managing equipment health in real-time, and driving proactive corrective actions when they detect failure risks.

“A key objective for our customers is increasing throughput while managing operating costs. Consequently, Asset Performance Management has become a key approach to driving competitive differentiation,” said Henro Van Wyk, VP & GM of Wabtec Digital Mine.  “Itus Digital has one of the most experienced teams in the APM sector and their solution reflects their expertise. This partnership allows us to deliver a practical, fit-for-purpose solution to our customers and enable them to maximize their return on capital.”

Digital Asset Twins for Mining Equipment

The Itus platform models and manages failure risks, preventative maintenance plans, and condition indicators. Specifically, it leverages digital Asset Twins for mining equipment such as haul trucks and conveyors.  And, it offers a real-time view of operating conditions and work history while providing prescriptive actions to avoid failure upon threat detection. By working together, the result is a practical APM solution that addresses the unique mining industry needs.

“Wabtec’s equipment expertise, sensing capabilities, and global reach to the mining market are a perfect fit for our APM solution,” said Joe Nichols, President, Itus Digital.  “Key enablers to ensuring rapid ROI include access to equipment data, embedded domain expertise, and close collaboration with customer asset management teams. In all, this partnership delivers on all aspects.”

About Wabtec:

Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions, and value-added services for the freight, transit rail, mining, marine, and industrial industries. Wabtec has been a leader in the rail industry for over 150 years. Its vision is to achieve a zero-emission rail system in the United States and worldwide. The company has approximately 27,000 employees located at facilities in 50 countries throughout the world. Visit Wabtec’s website at: https://www.wabteccorp.com/ .

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