Solutions for Dynamic Asset Information Management (DAIM)
In many industries, the need to manage and retain information throughout the lifecycle of an asset (e.g., a well, pipeline, processing or generation facility) has been a challenge. These assets are often long-lived where the time from construction to decommissioning can be decades. In addition, systems used to manage those assets are often replaced, at least once during their lifecycle, and often multiple times. Users who support and maintain long-lived assets are faced with the difficult task of quickly finding information that was created years in the past, and usually under the pressure of an audit or unscheduled down time.
DAIM leverages master data sources, including solutions such as Enterprise Asset Management (EAM) and Enterprise Resource Planning (ERP) systems, linked dynamically to content stored in the SharePoint / Office 365 system. If information related to the asset changes in the source system, the change will automatically be translated to the content system, and leveraged by the search interface to ensure that users can find it. The original source information is also captured to ensure compliance with regulatory requirements. Without DAIM, information in the content system becomes stale over time making it difficult or impossible for users to find what they need, leading to losses in productivity and increased risk to the organization.
Benefits of DAIM include
- Increased efficiency through enhanced search capabilities. It’s just easier and faster to find data.
- Greatly reduced time to ingest and begin leveraging information related to acquired or divested assets.
- Ease of use, and increased user adoption through zero-click, drag-and-drop interface.
- Dynamic integration with asset master data and other external data sources, including GIS systems, leading to more valuable
analytics and improved data quality throughout the asset lifecycle.
- Acquired wells can be ingested in a fraction of the time.
- Increased document security due to reduced use of file shares and better document control.
- Content remains findable throughout the entire lifecycle of the asset.
- Compliance requirements are met as rules-based retention is automatically applied.
- Reduced storage costs due to less duplicated/hoarded data.
- Reduced risk from failed compliance.
- Reduced risk associated to ransomware and file shares.
- Reduced document duplication / hoarding due to user frustration.
- Reduced risk of users acting on outdated information (e.g., avoid drilling a well in the wrong location due to outdated plat information).
- Easily located content associated to any well.
- Reduced risk from ransomware that impacts mapped file share drives.
Read the White Paper on how DAIM can help your company drive efficiency and reduce risk around long-lived assets such as wells or pipelines.
Read the Case Study on well master integration benefits for upstream energy companies.
Watch the Recorded Webinar.