New process industry product suite from AspenTech

Martin Menachery , December 7th, 2016

Aspen Technology recently announced the introduction of a new product suite, aspenONE Asset Performance Management (APM), which expands the aspenONE product portfolio from engineering, manufacturing and supply chain into maintenance to address key business challenges that include process disruptions, low asset availability and unplanned downtime.

Process industry companies today require greater focus on operational excellence in order to maximize the return on capital employed since they are faced with significant macroeconomic uncertainty and ever more complex business and operational challenges. The new suite will empower process industry companies to optimize their assets throughout the entire plant lifecycle.

The aspenONE Asset Performance Management software, designed specifically for the process industries, provides highly accurate insights into complex process dynamics, diagnosing the root cause of an event to assess the impact on plant equipment and breakdown avoidance. It also offers prescriptive, actionable guidance to help mitigate the impact on production.

Antonio Pietri, Chief Executive Officer and President, AspenTech, said: “I am excited about this announcement. We stated at Optimize 2015 our new Asset Optimization vision and strategy and it has now become a reality. AspenTech’s latest innovations in the Asset Performance Management suite are centred on helping customers increase asset utilization, while maintaining the highest levels of optimization. We look forward to continuing to deliver solutions that capture ever-increasing value for our customers across the design, plan, operate and maintain asset lifecycle.”

In its initial release, the aspenONE Asset Performance Management suite will include the Aspen Fidelis Reliability product and the Aspen Asset Analytics products. While Aspen Fidelis Reliability empowers customers to use the deep design and process knowledge contained within the aspenONE product portfolio to analyse process reliability, quantify improvement opportunities and optimize the availability of assets, the Aspen Asset Analytics product combines AspenTech’s modelling and simulation and data analytics capabilities to predict specific process problem events and prescribe actions to prevent their occurrence. According to the company, this product will initially be targeted at a specific set of customers identified by the company until general availability is announced in the future.

To encompass a set of products and solutions that will capture the significant opportunity available in the maintenance area of process plants, the APM suite is anticipated to be further populated with functionality and capabilities organically developed as well as from recent acquisitions.

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