The IBM Maximo is an Asset Performance Management software that helps the user(s) keep track of their human, material, and financial assets. It ensures that users can make the most of the resources in their care.
As with many other APM software available, Maximo for Utilities from the stables of IBM is aimed at helping operators in various industries maximize their assets. This is the primary aim of the automated tool. For more on this subject, you can check here.
In this article, we are going to address the benefits of using the IBM Maximo for Utilities in the energy sector. So, we strongly advise those that operate in the energy sector to pay attention. This is because the benefits of this APM tool as it relates to the energy sector will be highlighted and discussed.
Why use Maximo for utilities in the energy sector
This Asset performance management software offers a lot of benefits to operators and stakeholders in the energy sector. By energy sector, we are talking about businesses that are into oil and gas, nuclear, wind, and solar power generation.
These industries make use of vital assets in the form of pieces of equipment, tools, and human resource. More often than not, keeping track of the state of these assets is hard to achieve and this is where Maximo for Utilities comes in amongst other functions.
Listed and explained below are some of the benefits of making use of the IBM Maximo for Utilities APM tool in the energy sector:
Status update on assets
As explained above, various energy industries run on a large number of assets. It can be a tiring process trying to keep an inventory of these assets.
Furthermore, monitoring the states of all of these assets has gone past making inscriptions on sheets of paper. You need an APM tool such as Maximo for Utilities to effectively keep track of all the assets.
Making critical asset management decision
You can make several key decisions because of the reliable data that this APM tool offers you. For instance, you can discover that some departments are understaffed while others have too many hands attending to the same assignments.
This data will help you transfer human resources from areas where you have too many hands to places that need assistance. This is just one example as it relates to human assets.
As regard material assets such as tools and equipment, the sensors attached to these things can help figure out the right time to carry out repairs and various forms of maintenance checks.
In other words, Maximo for utilities will help avert downtime which can be very disastrous for the energy industry.
Reduces the cost of asset management
Considering the essential role that assets play in the sector, many companies cannot take chances and spend a whole lot on periodic checks and maintenance. Well, this APM tool can help resolve this problem and even cutting down on the huge maintenance and assessment costs.
This is because it will be able to monitor the state of the machines, tools, and equipment in real-time, conveniently sending updates. The updates received will determine when having a check carried out is appropriate.
Ensures that you keep up with regulatory requirements
Many regulations are binding on businesses and even stakeholders in the energy sector. Violating any one of these regulations comes with certain penalties that can be very difficult to cope with.
To ensure that they are not crossing any ethical and legal line, businesses in this sector can make the most of Maximo for Utilities. This is because the data provided by the APM tool will take care of all the loopholes that can cause a violation of these codes of conduct.
For instance, one of the regulations that businesses in this sector should be concerned about is environmental laws. Regulatory bodies like the Environmental Protection Agency are insistent on energy companies complying with environmental laws.
This is especially in light of agreements reached by the Paris Climate Agreement member nations and other international climate change initiatives. If you are interested in finding out about the Environmental Protection Agency, you can visit: https://www.epa.gov/
On a final note
Several service providers can help you understand and benefit from Maximo for Utilities. These companies understand the rudiments of the APM tool and can help you right from installation to upgrade.
Engaging the services of these professionals is not a bad idea. However, you have to ensure that they are accredited IBM partners. This means that they act in line with the industry-leading standards set by IBM.
In this article, we have addressed how beneficial Maximo for Utilities can be for businesses in the energy sector in particular. If you function in this sector, we strongly advise that you make the most of this Asset Performance Management tool.