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Joint Solution Will Enable Companies to Identify Asset Failures Days, Weeks or Months Before Problems Occur
ORLANDO, Fla., May 6, 2014 /PRNewswire/ -- VENTYX WORLD-- Ventyx, an ABB company, today announced it is teaming with Chicago-based InStep Software, a leading provider of asset predictive monitoring software to bring advanced industrial equipment diagnostics to Ventyx's Asset Performance Management solution for the power, mining and oil & gas industries.
InStep's PRiSM software uses advance pattern recognition to provide a quantitative comparison between current and historical asset operational behavior for the early identification of equipment health and potential performance problems. Combining InStep's asset predictive monitoring software with Ventyx's Asset Performance Management solution creates a comprehensive platform to reduce unscheduled downtime, prevent equipment failures, lower maintenance costs, increase asset utilization, extend equipment life and identify under-performing assets.
"Many of the largest electric utilities in the world already rely on advanced technology from Ventyx and InStep to proactively manage and monitor their industrial assets resulting in reduced equipment failures and power outages," said John Kalanik, President, InStep Software. "This strategic partnership will provide companies with a comprehensive solution to transform the rapidly growing volume of data generated every day by sensor-equipped assets into useful and actionable information so that more timely and informed business decisions can be made."
"Our customers demand highly accurate, pinpoint data on the performance of their entire asset portfolio and of each individual asset," said Shawn Lyndon, SVP and General Manager of Ventyx's Asset Health Group. "The combination of InStep's PRiSM asset predictive monitoring software and Ventyx's Asset Performance Management solution delivers the smartest, fastest, broadest and most actionable predictions to maintain asset health and productivity."
Ventyx will resell InStep's PRiSM software as part of its Asset Performance Management solution, which includes Asset Health Center and Equipment Reliability. The joint solution is available now through the Ventyx Innovation Partner program.
The Ventyx World 2014 customer conference is an annual gathering connecting business and IT leaders from energy and mining industries to share insights into how industrial software can help minimize risk, maximize productivity and drive bottom-line results. For more information, please visit http://www.ventyxworld.com.
About InStep Software
InStep Software is a leading provider of real-time performance management and predictive asset monitoring software. InStep's software products extend the investment in modern control, monitoring and smart devices by collecting, archiving, displaying, analyzing and reporting the information provided by these systems. Many of the world's most successful companies use InStep's software solutions to actively manage and analyze the rapidly growing amount of industrial machinery-related data. To learn more, visit http://www.instepsoftware.com.
Ventyx, an ABB company, is a world-leading supplier of Industrial Enterprise Software for essential industries such as energy, mining and public infrastructure. Ventyx solutions bridge information technologies (IT) and operational technologies (OT), enabling clients to make faster, better-informed decisions in both daily operations and long-term planning strategies. Some of the world's largest organizations rely on Ventyx solutions to minimize risk, enhance operational and financial performance, and execute the right strategies for the future. For more details, see www.ventyx.com.
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