Relegen’s New Unified Platform For Risk-Based Enterprise Asset Intelligence

At its core, a risk-based framework is the foundation for best-practice asset management. Such an approach is essential for improving asset knowledge management, performance, integrity, service delivery, safety, and compliance – all whilst minimising costs.

In direct response to this business need, and lack of available tools, Relegen has developed and released a new integrated enterprise asset and risk intelligence platform. Going well beyond traditional asset tracking and enterprise asset management systems [EAM’s], the innovative combination of assetDNA, and the newly-released riskDNA, gives organisations, for the first time ever, access to a seamless, comprehensive, enterprise-wide view of all assets and their associated risks.

Why is the integration of asset and risk intelligence important?

It would be reasonably safe to say that for the typical asset-intensive organisation, 80% or more of all organisational risks are related to its physical asset base. And yet, in these organisation there’s usually a distinct separation between assets and risk with respect to teams, systems, processes and data management. Despite this, the functions have a great deal in common – and that is how to minimise operational risks, while optimising costs, throughout the entire asset lifecycle and maximise return on assets [ROA].

So it stands to reason that a unified platform for enterprise asset intelligence which properly accounts for associated risks, can help predict things like asset-related accidents or failures in order to avoid costly downtime, reduce maintenance or replacement costs, and make a greater positive impact on the bottom line. There are plenty of examples, such as the Texas City Refinery explosion, which serve as a scary reminder of what can happen when there is disconnect between asset, risk and management decision-making.

Ultimately, a unified platform will deliver the insights needed to better understand, decide and act in ways that achieve a greater balance between cost, risk and performance.

A unified platform for an enterprise-wide view

With Relegen’s integrated assetDNA+riskDNA platform, organisations can fully exploit the value of high-quality asset data coupled with rigorous, leading-practice control-centred risk intelligence [C2RI] assessments and meaningful risk scoring, to better identify, prioritise and direct resources to where they are needed the most.

Enabled by the systems’ unique ‘DNA’ serialisation capabilities, organisations can associate assets and risks across the enterprise, and more easily incorporate risk-based decisions into asset management programs to deliver even greater levels of safety, security, reliability and performance.

In our next blog post, we’ll take a closer look at the system’s leading-practice C2RI methodology as it relates to asset management. However, in the meantime, if we’ve peaked your interest, please get in touch with us on +61 (0)2 9998 9000 or to learn how assetDNA+riskDNA can offer unprecedented insight into assets, risk and performance, and help teams make more informed decisions than ever before.