If you’re wondering where to start with your digitalization journey, Asset Performance is a key area to address. Why? Because there is so much capital invested in production assets – typically, 70% of new plant capital.
Naturally, you want to see maximum return on that investment – or maximum Return On Capital Employed (ROCE). Your shareholders do too. By the same token, if something happens to these assets it can be a big blow for your financial performance – for example, unplanned downtime costs companies up to 5% in production loss each year (ARC Survey of 300 Customers in Discrete, Hybrid and Process Industries).
Clearly a lot depends on the performance of these assets. So how do you make all that money invested in assets work harder for you, every day?
What’s exciting about the business enabler of Asset Performance is not only that you can reduce the risk involved, but also turn it around to achieve even higher returns. Even better news is that these days there are complete solutions on the market designed specifically to help you do this.
Learn more about data driven asset performance solutions via this new Frost & Sullivan report.