Software extends aMDM capabilities across lifecycle.
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Press Release Summary:
Offering functionality for engineering and supplier collaboration, Asset Hub(TM) v4.5 enables interoperability across Design, Operate, and Maintain spectrum of asset lifecycle. This asset master data management (aMDM) solution lets users meet strategic requirements for operational readiness for new and existing assets. It offers equipment classifications, maintenance program creation, and active directory user synchronization and hierarchical equipment type support.
Original Press Release:
NRX® Widens Leadership Position in Asset Master Data Management (aMDM) with Release of NRX Asset Hub(TM) 4.5
NRX Aligns with Partners to Deliver Compelling Value for Owner Operators, Engineering Companies and Suppliers in Asset Lifecycle Information Management
TORONTO, June 11 -- NRX is pleased to announce the release of Asset Hub 4.5, its market leading asset master data management (aMDM) solution that enables interoperability and operational excellence across the entire Design, Operate, and Maintain (DOM) spectrum of the asset lifecycle. The solution widens NRX's leadership position in aMDM by adding leading edge functionality for engineering companies and supplier collaboration, and enables owner operators to meet their strategic requirements for operational readiness and excellence for new and existing assets.
"Plant Performance is determined by three factors: the plant's inherent capability to produce the desired products; the effectiveness of operations in using these capabilities; and the availability of the plant for operations," said Dr. Sid Snitkin, Vice President & GM Enterprise Services, ARC Advisory Group. "These three factors, which we refer to as Design, Operate and Maintain (DOM), are highly interdependent and are generally the responsibility of different groups within the organization."
"Studies, such as the NIST Report(1), have shown the incredible costs that can be saved through interoperability across the DOM activities," asserts Snitkin. "These benefits make a compelling case for immediately implementing DOM Interoperability across your capital project supply chain, and those who adopt first will gain competitive advantage and take the lead in optimizing DOM processes. NRX has a unique position with respect to DOM Interoperability, and their current offering is clearly noteworthy as it addresses some of the most challenging DOM Interoperability requirements at the foundation, the information level."
Asset Hub 4.5 acts as a staging area and provides a single view of information across the entire asset lifecycle enabling schedule and cost reductions for capital projects, and improvements in reliability and productivity in existing facilities. By acting as a single source of truth for asset data and documents for suppliers, engineering companies, and owner operators, the NRX Asset Hub reduces information management costs across the asset lifecycle by up to 50%. In addition, a comprehensive and accurate asset information foundation drives annual benefits of 5-10 times those derived through the information management efficiencies.
In the global Energy sector, over $1 Trillion is being committed annually to new projects, and owner operators are very focused on managing the risk, and increasing the returns on their capital programs. It is in this context that NRX is collaborating with IBM to enable asset lifecycle interoperability and operational best practices that reduce capital project risk and enable operational excellence. This collaboration is manifested in NRX's participation in IBM Canada's Centre of Excellence (CoE) for the Canadian Oil Sands in Calgary, Alberta. "We have made a substantial commitment to our CoE with a focus on information management, ERP templates and capital project supply chain optimization. The NRX Asset Hub is part of a portfolio of strategic solutions that we are deploying to deliver superior value to our large oil sands customers," said John Haslett, IBM partner, and spokesperson for the IBM CoE. An example of collaboration between IBM Canada and NRX is the deployment of the Asset Hub for Bechtel in a large project for a leading integrated multinational oil and gas company.
Outlined Peter Staines, Information Manager for Bechtel: "The Asset Hub provides us with the mission critical functionality we required to collaborate with our suppliers, integrate with our internal document management systems, and meet customer specifications for information migration into their business systems."
After successful projects at four of their flagship facilities, American Electric Power (AEP), one of the largest utilities in the U.S., has embarked on a generating fleet wide deployment of the NRX Asset Hub. "The NRX solution enabled the development of a comprehensive asset information foundation. Our experience with the software led us to pursue broad deployment of the solution in existing plants, retrofits, and new capital projects," said Mark McCullough, Vice President, Baseload Fossil Generation at AEP.
Asset Hub 4.5 is a substantial addition to NRX's already highly differentiated solution offering in aMDM. New functionality in this latest release includes:
1. Equipment classifications to enable enterprise wide management of asset master data
2. Maintenance program creation that provides the information foundation for enterprise reliability initiatives
3. Standards support including ISO 15926
4. Support for active directory user synchronization and hierarchical equipment types
5. EAM synchronization enhancements
6. Improved Document Management System support
7. 3D visualization of the design model to allow easy navigation for reference data and documentation review
8. Automated detection of equipment tags contained on P&ID's
9. Enhanced supplier collaboration to streamline the process to receive and track data produced by equipment suppliers
10. Integrated master data templates and data exception reports to ensure the project data conforms to the required structure and format
The business value that originates from improved collaboration among owner operators, engineering companies and suppliers is substantial. Savings achieved through elimination of redundancies in managing asset information across the asset lifecycle is only the beginning, as the real impact resides in the project schedule, and reliability benefits, and cost savings for owner operators, their strategic EPC partners, and suppliers. "NRX is at an exciting threshold where our customers are realizing significant value with our solution. We look forward to working closely with our strategic partners, including SAP, IBM, Accenture and Larsen & Toubro Infotech to deliver compelling value to all constituents," said Paul Gray, CEO of NRX.
About NRX
NRX(R) is the market leader in asset master data management solutions. NRX Asset Hub(TM) streamlines asset lifecycle information management processes, and enables interoperability across the design, operate and maintain phases of the asset lifecycle. NRX Asset Hub(TM) delivers actionable information into asset-centric processes by defining, collecting, transforming, deploying and sustaining asset data and documents from engineering companies, equipment manufacturers, and the plant community. By automating the creation and management of a strategic asset information foundation, the NRX solution underpins substantial improvements in enterprise-wide data exchange, productivity, reliability and supply chain initiatives. www.nrx.com
For more information, contact:
Terence Leung
Vice President, Marketing and Solutions
NRX Global Corp.
tel: 1 (877) 603-4679
email: tleung@nrx.com
www.nrx.com
(1)Cost Analysis of Inadequate Interoperability in the U.S. Capital Facilities Industry, National Institute of Standards and Technology, NIST GCR- 04-867, August 2004.
