Meridium Announces Release of v3.5 Asset Performance Management Software

Major release prevents corporate balance sheets from being attacked by asset failures

Aug 28, 2012, 12:01 ET from Meridium Inc.

ROANOKE, Va., Aug. 28, 2012 /PRNewswire/ -- Meridium® Inc., the global leader in asset performance management (APM) software and services, today announced the release of version 3.5 of its innovative APM software. Meridium worked with selected global clients to fulfill their vision for a comprehensive approach to asset health that lowers risk, improves compliance and increases uptime across the enterprise.

"Apache's global portfolio requires the capacity to operate on a large scale in a range of environments," according to Jon Graham, VP EH&S for Apache. "Meridium's depth and breadth of APM technology experience brings a wealth of expertise to our asset integrity management initiative."

"Unlike other approaches to asset health, our vision focuses on both economics and risk management" said Meridium CEO Bonz Hart.  "Our clients asked us to develop an enterprise asset health platform that aggregates all their plant data into a holistic view, and then uses advanced analytics and automated recommendations to lower the risk of critical asset failures."

Managing and Automating Asset Health

Key new capabilities in Meridium APM v3.5 include Asset Health Manager and Policy Manager, new solutions to centrally manage asset health and automate corrective actions through monitoring policies. One serious challenge that asset intensive industries face today is putting the proper context on the massive amount of information from risk, compliance, asset performance, real-time, and condition monitoring data for optimal asset management. Meridium's new Policy Manager uses all this data to automatically identify emerging trends and take immediate action to mitigate risk of failure.

"Operating assets can be very dynamic, and changing conditions can fundamentally shift the risk, compliance and availability expectations for an asset strategy," according to Joe Nichols, Meridium's Vice President of Product Strategy.   "Meridium now empowers asset managers to easily define and automate policies that proactively identify corrective actions which can minimize downtime, costly reactive maintenance and noncompliance scenarios."

Asset Health for Mechanical Integrity and Compliance

New to the Meridium Mechanical Integrity solution is an API 581 based risk calculator for relief devices and built-in support for complying with the API 510, 570, and 653 standards.  In addition, the solution also received an independent certification from exida® for API 580 compliance. 

The Mechanical Integrity solution also features enhanced inspection strategies and management capabilities, which allow customers to ensure their inspection programs align with industry and local requirements.  "By integrating our Inspection Strategies with Policy Manager, customers can now easily adjust the policies to their specific regulatory needs or make them dynamic for plant conditions through our OPC and condition monitoring integration," Nichols said.  "This approach truly delivers living strategies which allow the program to flex as asset conditions change to minimize unplanned or non-compliance events."

Multiple Dashboards Improve Asset Health Visibility Across the Enterprise      

Meridium APM v3.5 features new standard dashboards suited to every level in the organization, which can be easily accessed from multiple computing platforms including Windows®/PCs, Apple® iPads and iPhones, and AndroidTM tablets.  The executive view provides strategic-level, one-touch metrics, risk curves and compliance reports to drive visibility, measurement and accountability for asset performance program goals.  Functional-level dashboards provide effective tools to manage and measure recommendations, asset risk and health, and performance results to ensure continuous improvement.

"This release represents a huge leap in functionality around our Asset Performance Management offerings, building on the foundation we began in 1993," according to Nichols. "We've introduced a completely new approach to easily implementing policies for evergreening asset strategies as operating and asset health conditions change. And, in doing so we've improved the accessibility and experience of all our users across the enterprise, from operators who are the closest to the asset, all the way up to the executive who needs to manage from a tablet or smart phone."

About Meridium                                                                                                   

Meridium is the global leader in asset performance management software and services for asset-intensive industries. Meridium lowers the risk of harm to people, our planet and profits by predicting and preventing physical asset failures. With Meridium's unique enterprise analytics, our clients minimize production downtime while improving safety. Meridium is headquartered in Roanoke, VA, USA, with offices around the world including: Houston, TX, USA; Dubai, UAE; Bangalore, India; Madrid, Spain ; Singapore; and Perth, Australia.

SOURCE Meridium Inc.