Digital Evolution with Enterprise Asset Management: An In-depth Discussion with Mike Tomasco 

Before the close of 2024, a fascinating dialogue unfolded as Hexagon's technology experts, Jeremie Hicks, Vice President of Sales for Validated Industries & Consumer Packaged Goods, and Peyton Griggers, Executive Industry Consultant, sat down with Mike Tomasco, the former Vice President of Pfizer Digital, and a digitalization visionary.

Together, they delved into the transformative world of enterprise asset management (EAM) and digital transformation, exploring the cutting-edge innovations shaping the future of validated industries. Their conversation highlighted the dynamic intersection of technology and industry, offering insights into the high-tech advancements poised to redefine the landscape.

In this blog, we capture the compelling insights shared during the recent webinar, where this seasoned trio unravels the evolution of EAM and highlights the burgeoning demand for system validation in critical sectors like the pharmaceutical industry. We also explore why digitalization is a game-changer, driving organizations toward greater sustainability, operational excellence and regulatory compliance. Read through as we uncover the transformative power of these advancements and their impact on the future of industry. 

The Digital Evolution of EAM

Reflecting on his 20-year journey in digital transformation, Mike recalls a pivotal moment when he contributed to crafting the business case for the first "real, true global core system." This system was designed to be centrally configured and managed, with the vision of deploying it across all company facilities worldwide. It aimed to establish an EAM capability interconnected with key departments like procurement and finance.

In the early 2000s, however, technology presented significant challenges. Server capabilities dictated application functionality, and the flexibility we take for granted today was not an option. Mike notes, "Back then, server-level parameters drove our instances, making a global core instance for the entire world unfeasible, which sparked a wave of innovations."

Fast forward to today, and the rapid evolution of technology continues to shape corporate growth and efficiency strategies. A recent significant shift has been the migration to the cloud, a topic Mike and Peyton explore in depth during the webinar. These technological advancements are adding new layers and complexity to EAM, illustrating how past experiences guide current and future paths in the ever-changing landscape of digital transformation.

The Importance of System Validation

As digital system usage becomes more dynamic and critical for success, there are a number of challenges to overcome. Mainly, relying on data and technology requires strict and ‘validated’ processes that regulate quality, reliability and control – especially within sectors such as pharmaceutical manufacturing.  

Artificial intelligence (AI) offers a host of new opportunities. However, Mike highlights that companies may have differing tolerances toward risk when trying to validate AI-driven processes. He notes that this hesitancy can be constraining. Yet, there is a way to tackle this obstacle and create ‘certainty’ surrounding AI in these processes - model development lifecycle. This refers to a procedure that that can showcase how organizations build, train, test and maintain AI results.

That way, Mike says, “you can start to say, I have a validated way to prove that this is the result that we thought it would be, even if it's doing predictions and things like that like, it's explainable.”

The Future of Digitalization in Validated Industries

Mike's insights into the digital evolution of EAM since the early 2000's highlight how technological advancements are unlocking new possibilities in validated industries. As digitalization progresses, organizations can capture more precise and actionable data, leading to smarter decision-making and improved data sharing. This capability helps them tackle common challenges such as siloed data, achieving regulatory compliance, managing complex legacy systems and improving data accessibility.

Looking to the future of digitalization, Mike advises, "Enjoy the journey; it's a long one. There are so many potential things you can do along the way. The way technology has changed is making it easier to achieve your goals." 

Essentially, a digital approach empowers organizations to harness data more effectively, enhancing operations and key procedures. As new technologies like AI become more accessible, these opportunities continue to expand. The EAM landscape is being reshaped as organizations turn theoretical plans and ideas into tangible realities.

Delivering the Right Outcomes

EAM enables companies in validated industries, such as pharmaceutical manufacturing, to future-proof operations and secure success ahead of time. But a winning EAM strategy requires the right digital tools that can scale with evolving business operations. Hexagon's enterprise asset management solution, HxGN EAM, is at the forefront of this digital evolution, helping organizations to extend asset lifecycles and improve productivity. The result?

•       Improved asset performance

•       Reduced costs and failure risks

•       Increased operational efficiency

•       Better decision-making

•       Regulatory compliance

•       Enhanced sustainability initiatives

If you want to learn more about how you can leverage EAM in your operations, reach out to our specialists. Or stay tuned for more in this series. Have your say, and determine which topics we cover next.