American Electric Power, an electricity generator in the US, has upgraded its enterprise wide work management and supply chain systems to the latest version of Asset Suite from Ventyx, a provider of business and asset management solutions to the energy and utility industry.
American Electric Power (AEP) has been a user of Ventyx solutions for years, but chose to perform an evaluation process to ensure they were selecting the optimum solution for its future needs. The selection process concluded with not only a recommitment to Asset Suite, but an expansion of its use as the enterprise asset management system within the corporation.
According to Ventyx, AEP will be using Asset Suite for supply chain functions including materials and procurement management across the enterprise, as well as for asset and work management for nuclear and fossil generation and transmission, and for partial replacement of their project management system used for major construction and retrofit projects.
By standardizing on Asset Suite, companies like AEP can benefit from the economies of scale enabled by the software. Asset Suite is the only comprehensive asset management solution that enables the deployment of best practices standardization across an entire organization, enabling efficiencies far beyond those achievable by a single site, said Ventyx.
Furthermore, utilizing the services-oriented Foundation Architecture, Asset Suite offers the ability to accelerate business benefits and reduce the complexity of business processes via an easy-to-use, tailorable graphical user interface. As a result, best practices can be easily standardized across the entire fleet, and integrated with engineering design tools, financial systems, enterprise resource planning packages and other third-party applications.
Vince Burkett, president and CEO of Ventyx, said: Ventyx has aggressively invested in our product suites, and we are obviously delighted that AEP has selected Ventyx as their go forward enterprise asset management solution. Ventyx has earned a solid track record of proven performance in the Tier 1 utility marketplace, as evidenced by our unique ability to meet AEP’s needs for a solution that covers their generation fleet, transmission network and integrated supply chain. AEP, its customer base and shareholders will benefit from the application of enhanced functionality and technology to reduce operating costs, extend asset life and improve asset availability.