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AVEVA wants to be pioneer in innovation
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September 23, 2019 News

 

Headquartered in Cambridge, UK, AVEVA addresses the end-to-end digital transformation imperatives with an integrated portfolio of solutions that deliver efficiency, unlock value and empower people across the lifecycle of capital assets and operational value chain. Its integrated portfolio harnesses the power of technologies like AI, ML, mixed reality, advanced simulation and cloud computing.

Since partnering with Schneider Electric, AVEVA continues to help businesses perform at its potential with various solutions. At the AVEVA World Summit 2019 in Singapore, AVEVA announced integrated engineering software designed to help customers the way capital projects are engineered, executed and integrated into operations and maintenance. The three software solutions are AVEVA Unified Engineering, AVEVA Unified Project Execution and AVEVA Enterprise Learning.

James Kidd, Deputy CEO and Chief Financial Officer of AVEVA, said companies use technology to drive efficiency in their business from different angles. While digital transformation is a common theme, AVEVA looks at how organisations can drive their operations with more efficiency. In terms of adoption, the oil and gas industry is the most common.

In Southeast Asia, James pointed out the shipbuilding industry has a strong influence on AVEVA’s revenue which is about 10%. In Malaysia, oil and gas company Petronas is AVEVA biggest client. Petronas leverages on AVEVA’s technology for its plant monitoring and other services.

AVEVA has had some pilot solutions in Southeast Asia. EPC customers often have trails with AVEVA’s unified engineering solution. James said that the situation is similar all over the world, with most businesses thinking carefully about adoption, which is why part of AVEVA’s strategy is to leverage on partners which is very much through a distribution channel.

When it comes to innovation in new solutions, James explained that AI and Machine Learning is critical to their tech, especially in the asset performance management space and is moving very quickly.

“We supply software across the whole asset lifecycle. We can put data into context through AI and Machine Learning. No other solution provider has got this.”

Echoing James was Amish Sabharwal, Global Head of Engineering, AVEVA. According to Amish, while collaboration between the different engineering systems like civil, mechanical, and electronics are the biggest challenge, the improved efficiency that comes with engineering brings all these engineers into a single environment.

He added that the knowledge is the same around the world. Almost all owners and customers have the same challenges everywhere. But the adoption of tech may be different based on regions. This can be seen in legacy regions where it has a big difference.

“In Southeast Asia and the Middle East, they love technology. This is because they understand how technology can provide benefits to them. It is different from Europe and the rest of the world. A lot of companies want to have the technology, but at the same time, they also want to look at the value of it. The value if always different for each company.”

Once companies can derive the value of the technology, they will be able to make the right decisions. And when it comes to that, AVEVA wants to be there for them. James commented that AVEVA wants to be at the forefront of innovation when it comes to technology to deliver more value for these businesses.

“We don’t want to be a player. We want to be a pioneer and adopt new tech to drive value. We have a rich history of innovation and it’s in the DNA of the company to continue to come up with new applications to create value.”

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