Wondering which Asset Performance Management (APM) system is right for you? Struggling to predict asset failures before they disrupt your operations? If so, this is the article for you.
APM systems leverage AI, IoT, and analytics to enhance asset reliability, reduce downtime, and boost profitability. In this article, you’ll learn about some of the best (and worst) APM systems being implemented. By the end, you’ll be able to implement the correct approach for maximum asset performance.
Three of the top Asset Performance Management (APM) systems, in alphabetical order
- AVEVA APM: AVEVA’s cloud-based platform excels in predictive and prescriptive maintenance, leveraging AI and real-time data to optimise asset performance. With tools like AVEVA Insight, it’s perfect for oil, gas, and chemical industries, enhancing safety and efficiency through seamless integrations.
- GE Vernova APM: Built for the cloud, GE Vernova’s APM offers digital twin technology and advanced analytics to predict failures and reduce costs. Its modular design supports oil, gas, and renewables, balancing reliability with sustainability goals like decarbonisation, making it highly scalable.
- IBM Maximo Application Suite: A cloud-based APM leader, Maximo uses AI and IoT for predictive maintenance and real-time asset monitoring. Its mobile access and ERP integrations streamline operations for energy and manufacturing, while advanced analytics minimise downtime and extend asset life, ensuring enterprise-grade reliability.
From peak performance to pitfalls: the worst Performance Management approaches
In the race for asset reliability, modern APM systems are the engine—outdated methods are the handbrake. Here are three you’ll want to release immediately:
- Handwritten index cards: Cheap, portable, and simple, index cards offer a no-tech solution for tracking maintenance or asset issues manually. However, they’re easily lost or damaged, lack automation, and provide no real-time data or analytics. Error-prone updates and zero scalability lead to missed tasks and disorganised records. While once effective for very small teams, index cards are now a relic—unsuited for modern asset management in any meaningful context.
- Disconnected condition monitoring tools: Specialised tools like vibration analysers offer accurate, localised data for small-scale diagnostics. Yet without integration into a broader APM system, this data remains siloed, limiting visibility and predictive insights. Manual analysis slows response time, and the lack of real-time monitoring or scalability creates operational inefficiencies. While useful in isolation, these tools fail to support enterprise-wide asset performance needs.
- Shared document folders: Affordable and easy to implement, shared folders enable teams to store asset data and maintenance logs with basic collaboration features. But without automation, IoT integration, or analytics, they’re vulnerable to version conflicts, human error, and lack of real-time visibility. Their limited scalability and basic functionality make them a temporary fix at best—one that falls short of supporting advanced, data-driven APM strategies.
Investing in a proper Asset Performance Management (APM) system transforms reliability with predictive maintenance, real-time data, and scalable insights. Steer clear of handwritten index cards, disconnected tools, and shared folders to avoid inefficiencies and stay ahead.
What’s your approach to managing asset performance? Let’s talk.