Press Release
AspenTech Receives Prescriptive Maintenance in Plant Asset Management (PAM) Software Market Award
October 23, 2017
Frost & Sullivan Recognizes Company for Competitive Strategy Innovation and Leadership
BEDFORD, Mass. – October 23, 2017 – Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization software company, today announced that it has received the “Prescriptive Maintenance in Plant Asset Management (PAM) Software Market” Award from global research and consulting firm Frost & Sullivan. The 2017 Competitive Strategy Innovation and Leadership Award recognizes companies that excel in product strategies in today’s environment of competitive intensity, customer volatility, and economic uncertainty.
AspenTech is leading the industry evolution from process to asset optimization. The aspenONE® Asset Performance Management (APM) software suite combines big data, machine learning, and process modeling expertise to maximize performance across the design, operation and maintenance asset lifecycle. The aspenONE APM suite helps customers realize the full value of their data, delivering accurate and actionable insights that improve reliability by increasing asset utilization and avoiding unplanned downtime at lower maintenance cost.
Leading global companies in complex, capital-intensive industries use Aspen Mtell® software to detect problems well in advance of actual breakdowns. Aspen Mtell software uses data from current and historical process operations along with maintenance and historical records, detecting root cause failure signatures that precede degradation and failure, particularly the excursions in operational conditions that cause the most damage to equipment.
Aspen Mtell applications work with industrial-grade skillsets and work processes, automatically learning from and adapting to operational changes and new failure conditions. As a result, firms in the process manufacturing, CPG, wastewater, pulp & paper, power & utilities, metals & mining and transportation industries can continually optimize the performance of their assets – improving safety, managing risk, reducing downtime, enhancing productivity and increasing profitability.
Supporting Quotes:
Mike Brooks, Senior Director APM Business Consulting, AspenTech
“The Frost & Sullivan 2017 Competitive Strategy Innovation and Leadership Award for Prescriptive Maintenance in Plant Asset Management (PAM) Software recognizes the advances we have made in predicting failures versus merely modeling machines. With Aspen Mtell predictive and prescriptive analytics products, our customers anticipate and eliminate the root cause of failures. The low-touch, rapidly deployable, automated end-to-end solution uniquely and powerfully combines a deep understanding of operations and maintenance processes, real-time and historical equipment data, and cutting-edge machine learning technologies.”
Supporting Resources:
About AspenTech
AspenTech is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with big data machine-learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets faster, safer, longer and greener. Visit AspenTech.com to find out more.
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© 2017 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen Fidelis Reliability, Aspen Mtell and OPTIMIZE are trademarks of Aspen Technology, Inc. All rights reserved. All other trademarks are property of their respective owners.