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Hexagon & Itus Digital: A new leader for the evolution of APM across the Asset cycle

What if there was an easier way? 

What if, instead of spending hundreds of thousands of dollars and countless hours for experts to optimize your asset performance strategies with your asset management platforms, your enterprise asset management solution already had that data?  

What if you were able to collaborate across your organization to develop truly optimal asset strategies based upon actual risk in a way that maximizes uptime and reduces O&M costs? 

There’s no need to wonder. Hexagon’s acquisition of Itus Digital ensures the continued evolution of asset management through the integration of Itus’ best-in-class asset performance management solution.  

Itus Digital was founded more than four years ago with the mission to ensure every risky industrial asset could be protected with an optimal asset strategy.  The company leveraged innovative technology and many years of industrial experience to build the most practical and effective APM solution now available on the market. Joining the Hexagon family now allows Itus to rapidly expand the innovation across the asset lifecycle and the company could not be more excited for what is to come. 

What We Offer 

Itus Digital's approach to APM has changed how industrial facilities evaluate and manage asset and operational risks. The Itus Digital platform features digital asset twin technology designed to fully operationalize asset strategies in minutes instead of days. Itus’ library currently offers more than 200 models of the most common industrial asset classes allowing you to quickly implement your asset twin, which includes failure modes, preventative maintenance activities, analytics, and prescriptive actions that can be adapted to your operational context. 

Many companies' asset management journey starts with identifying and implementing efficient work management processes through an EAM solution. Building on that solution with APM allows for the implementation of highly effective asset strategies to create a world that drastically minimizes asset failure and optimizes maintenance schedules.  

With the addition of Itus Digital, Hexagon customers now have a powerful new tool to power highly efficient and effective asset management strategies with your existing EAM. This evolution of Hexagon’s asset management offering ensures that our customers now have a single platform to gain even more visibility and insights throughout the asset lifecycle.   

Creating Value Across the Asset Lifecycle 

It’s not just HxGN EAM that will benefit from the addition of Itus Digital. With the addition of Itus, Hexagon will advance even more APM processes across SDx, j5 and EcoSys, among others.  To fully optimize asset performance, different stakeholders and departments need different information. The CFO needs to understand cost/risk tradeoffs for investment decisions,  the Production Manager needs to understand current equipment condition and potential impacts to throughput, and the Engineering Leader needs to drive prioritized capital projects based upon system/equipment reliability. The addition of Itus Digital’s technology to Hexagon’s portfolio will allow for even greater collaboration and visibility as organizations optimize their business with an aligned view of the engineering basis, current risk, actual performance and recommendations for continuous improvement. By taking data out of the siloes and analyzing it through the lens of APM, it becomes more accessible and allows for collaboration across departments.  

In short, the integration of Itus into Hexagon’s solutions advances our vision of the Smart Digital Reality. The wealth of insights from Itus’ solutions expand the value which can be extracted across the asset lifecyle.   

And the ability and functionality resulting from the addition of Itus to the Hexagon family will only grow. 

About the Author

Joe is passionate about creating and commercializing unique solutions to optimize the performance of industrial assets. His experience spans 25+ years working with best-in-class industrials implementing Asset Performance Management (APM) solutions to lower operational risk. Prior to Joining Hexagon Joe co-founded Itus Digital and built a company that developed an innovative approach to APM which enabled industrial companies of any size and complexity to drive optimal asset management processes. Joe was the COO, VP Product Strategy at GE after Meridium was acquired in 2016. Meridium was Joe’s first employer where he spent 21 years driving the creation and go-to market strategy for their market creating APM solution. Joe received his management of information systems degree from Radford University in 1995.

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