Industry-focused digital enablement

In an evolving industry and diversifying market, introducing technology and software to reshape processes and operating landscapes can reap significant benefits.

Increased organisational efficiency, improved safety performance and increased predictability in operations are key metrics we continuously improve together with our customers. Digital enablement must be embraced in a competitive industry where improvements in employee safety, productivity, and sustainability are at the forefront of a value driven ethos.

Celebrating 10 years in the business

Established in 2012, founders Robert Noble and Mike Rudd, engineering experts in flange management, looked to empower the industry by offering software that reduced time, costs and increased safety in bolt load assurance. The founders of asset55 understood the impacts of time-consuming, outdated manual methods used in flange management and how digitalisation of this process would benefit operators in the industry. From this journey of industry experts and software developers working in harmony, our company was born.

In the following ten years, asset55 has seen exponential growth, now offering four cloud-based software solutions across the capital project and operational space. Calculate and Operate for operational assets and Validate and Execute for capital projects.

Asset55 are trusted software providers to the most respected names in the global energy sector. The digital enablement of our software promotes an environment for safety and productivity to prosper through our core principles of data integrity, optimal planning, and control in execution.

Standing out in a crowd

Designed by industry for industry. Who better to design a software process than subject matter experts from the operational and capital project space. Our technical team can speak to the challenges faced in industry and support our clients with a hands-on approach to mitigate and continuously improve overall organisational performance.

By leveraging technology and industry expertise, we provide valuable insights into challenges and opportunities for our customers by enhancing existing company processes. Our technical team works together with our end users to collaborate, innovate, and continuously improve performance outcomes through mitigation methodologies and capitalising on the opportunities that exist within established process.

Asset55 implements a 1:1 ratio of Engineers and Software Developers, combining industry expertise with technical assurance. Our in-house technical authorities, operations leaders, and project leaders contribute to maintaining robust industry requirements by working together with our industry bodies.

Time for a refresh

This year, following our ten-year anniversary, asset55 decided it was time for a brand refresh. Software is forever evolving, and it was important that the brand represented this growth and change. In the industry itself a catalyst for change can be found through the increasing diversification of the market. With the growing energy evolution and shift of focus to renewables and carbon capture, one must adapt or risk falling behind. These were all catalytic determinants in how asset55 would handle our rebrand strategy.

The first step was the brand logo itself. The addition of a logo was a decision made in becoming not only a visual identifier for potential clients in the industry but a visual indicator of what the brand has to offer. The logo takes the form of four petals in differing colours, representing the four-software provided by asset55 – Validate (purple), Execute (yellow), Calculate (blue), and Operate (green).

Next came the change in naming convention of the software. We all know this can be a potential risk for any company, the renaming of products can pose a threat to existing product recognition. However, with the vast intellect of the software at asset55, a rebrand in product name was a necessary step in capturing more precisely the capability of the software.

Calculate (previously iQ)

Bolt load calculations derived from legacy systems, spreadsheets or even slide-rules has led to outdated and often inaccurate tightening practices, which can cause damage to components, increased costs, and risk of downtime. The assurance in safety of these methods also must be brought into question – with incorrect bolt loads leading to a potential hydrocarbon leakage.

Our Calculate software is designed for bolted joint integrity and flange management assurance. The secure cloud-based platform and integrated modular build supports the whole range of workflows. From carrying out individual bolted joint calculations to full flange management process and assurance, the software is consistent with the very latest industry best practice guidelines.

The unique built-in joint integrity review feature allows an assessment of any given bolt load across an almost infinite variety of flange assembly combinations. This allows the user to make informed decisions to reduce potential schedule slippage, hydrocarbon leakage, and the hidden cost of component damage.

Execute (previously Construction Solutions)

In a challenging, remote, and fast paced environment, Execute was designed to ensure smooth workflow execution. Underpinned by technical consultancy and governance enabling optimized 4D preparation, Execute can provide greater visibility and control over capital project outcomes and enhance the communication of plans and critical priorities for all project stakeholders.

Full digitalisation of a capital project directly improves schedule, budget, performance, and organisational efficiency. In fact, Execute has seen cost savings in the range of $20 million to $150 million USD and production revenue of over $300 million USD due to earlier start up and decrease in schedule. Cost savings is not the only benefit realised with the utilisation of digital software, safety incidents can be decreased by up to 80%, cable pulling productivity increased by up to 250%, hydro testing and leak testing optimisation can improve schedules by up to 200%, and project reporting time reduced by up to 150% due to trust automated reporting.

Operate (previously iQ control)

Operate is a cloud-based solution for optimal preparation, planning and execution of time critical tasks. We leverage data and technology to secure data integrity, optimal planning & preparation, and robust scope management in the operational space.

Through digital enablement of operation processes, the multi-discipline execution platform was designed to deliver planned maintenance, operational assurance, modifications, and TAR scopes. In collaboration with industry operational leaders and innovative software developers, Operate was designed to provide the effective real-time collaboration needed between onsite and support teams in the most remote locations. It is important to provide agility within an operating environment, enabling teams to work more effectively with better allocation of resources - promoting the industry drive to develop a multi-skilled, digitally enabled workforce.

Validate

Trusted data is vital to secure a successful outcome in project performance and asset performance in operation. The manual process of validating data requires time and resource; however, precision and consistency are not guaranteed. Poor data quality and the resulting resource and time constraints have a direct impact on project schedule, budget, and organisational capacity.

Validate is our automated data validation software that addresses this major industry challenge of poor data quality. Through automated validation of data sources, we provide real-time, line of sight into engineering maturity and identify data inconsistencies before they impact project performance.

Validate has the ability to analyze thousands of tags and millions of attributed data points versus conformance, consistency, and completeness of the asset’s data foundation. It currently completes over 15,000,000 validated data points checks monthly across multiple capital projects.

Aligned across two divisions, Operations & Projects, we enable change through a portfolio ​of execution specific software, which share two common traits – Improving safety and improving productivity to our clients. Learn more at assetfiftyfive.com

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