IOTICS and Optimal Announce Partnership to Increase the Value of Data in Asset Management

IOTICS and Optimal have announced a strategic partnership, combining Optimal’s Asset Reliability as a Service (ARaaS) with IOTICS’ next-gen data ecosystem enablement technology.

With the increasing cost of maintenance, asset downtime and functional failures, the IOTICS-Optimal partnership brings together skills and experience in asset performance management, focusing on optimising operations, while increasing asset reliability. It brings together technology that enables the secure, selective sharing of data across enterprise boundaries, necessary to deliver the right insights to the right individuals at the right time

Data driven maintenance strategies are vital for enterprises under pressure to increase reliability, optimise performance and extract value from assets for longer with greater confidence. The new partnership will enable asset owners to get the most from their assets, leveraging insights from across their operations using a blend of physical and digital solutions as part of the ARaaS proposition.

Recommended AI: Top 10 Countries and Cities by Number of CCTV Cameras

With in-depth experience in utilities, infrastructure, oil & gas and transportation, the partnership is leveraging asset management expertise alongside secure, evolving data ecosystems to increase the efficiency and ROI of assets, grow companies’ bottom lines and identify operational opportunities in real time.

Enterprises are facing unprecedented generational challenges, decarbonising supply chains, meeting net-zero regulations, developing increased resilience, maximising return on investment of assets and increasingly innovating new service offerings. These challenges can only be met through the effective use of data, which has been shared securely across trusted cooperative ecosystems.

IOTICS’ patented technology complements Optimal’s capabilities in Enterprise Asset Performance Management. This ensures that the right data, at the right time, in the right context can be shared with the right people – without compromising security or control – to deliver asset management and reliability goals.

Recommended AI: How is Artificial Intelligence (AI) Changing the Future of Architecture?

Enhancing existing OT/IT systems with IOTICS technology and Optimal’s services will enable data to become Findable, Accessible, Interoperable and Reusable (FAIR), rapidly delivering ROI, reducing operational costs and providing scalable building blocks for enterprise data and asset management strategies, without architectural rework.

Gemma Beard, Head of partnerships at IOTICS, said, “With this partnership we are looking forward to enabling Optimal’s subject matter expertise in the asset management space with our technology, to provide interoperable right-time data for their ARaaS proposition and further broaden our ecosystem of partners.”

Optimal is a worldwide Physical Asset Management Strategy implementation partner, specialising in developing and delivering enterprise asset performance and management solutions focused on optimising operations whilst increasing asset reliability.

Alisdair Cook Director – UK & Europe at Optimal, said, “Optimal are thrilled to be adding IOTICS to our collective of carefully selected partners. Digital Twins are the present and the future in asset intensive industries, and to be able to bring a solution with the capability of IOTICS alongside our expertise in how to get the best value from asset data is exciting, both for us and the industry. ARaaS delivers ongoing value to our clients and underpinning this with technology like IOTICS means our services are for the now, tomorrow and beyond.”

Recommended AI: AMD Expands Data Center Solutions Capabilities with Acquisition of Pensando

[To share your insights with us, please write to sghosh@martechseries.com]