Digital twins from the cloud

The new application is designed to enable customers to define, plan and monitor maintenance strategies for physical assets. At the same time, they can monitor the performance of networked assets in real time.

SAP Asset Strategy and Performance Management connects assets using Leonardo Internet of Things (IoT) and integrates asset management with core business functions such as maintenance management, manufacturing, finance, and human resources.

Through criticality assessments and asset segmentation, the application helps companies choose a method to determine the optimal maintenance strategy for their assets - for example, using failure mode and effects analysis (FMEA).

"The latest evolution of our enterprise asset management suite provides organizations with comprehensive visibility into their networked assets. This is critical to success in the converged, new world of physical and virtual assets"

explains Tanja Rückert, President of IoT & Digital Supply Chain at SAP.

"Asset management is extremely important to any IoT and digital supply chain strategy. And with the holistic SAP suite, both asset manufacturers and operators can streamline their operations and successfully implement their digital transformation strategies."

SAP Asset Strategy and Performance Management is the latest addition to SAP's cloud solutions for asset management, which also include SAP Asset Intelligence Network and the SAP Predictive Maintenance and Service solution.

Based on unified data sources and a centralized architecture, this suite provides an easy-to-deploy cloud solution that is fully integrated with the SAP ERP and S/4 Hana application.

Through the Asset Intelligence Network, customers can create digital twins of their physical assets and provide access across multiple networks. These digital twins can be managed throughout the asset lifecycle - including design, manufacturing, sales and operations.

In this way, companies can optimize and automate their business processes, reduce their costs, bring products to market faster and take advantage of new forms of collaboration.

The SAP Asset Strategy and Performance Management application, combined with the SAP Predictive Maintenance and Service solution, enables the retrieval of real-time information on asset history, performance, condition, and cost.

By using these solutions, companies can optimize asset maintenance, develop optimal strategies for investment and risk management, improve customer service, and avoid costly business interruptions.

SAP Asset Strategy and Performance Management enables optimized asset and maintenance strategies.