Oracle WAM and WACS positioned to meet industry’s comprehensive Asset Management needs

As the utility work and asset market continues to evolve towards cloud-based solutions, Oracle Energy and Water is well-positioned for both on-premise and SaaS options with Oracle Utilities Work and Asset Management (WAM) and Oracle Utilities Work and Asset Cloud Service (WACS), respectively. The 2023 Gartner® Market Guide for Enterprise Asset Management (EAM) highlights some key trends in the work and asset space, where Oracle Energy and Water products (WAM/WACS) have had a strong showing for three years running.

Primed for the Future

The Gartner report provides insights for CIOs to make the best technology decisions to support asset management activities. Some of the key themes that Gartner outlines¹ include:

“EAM is a mature software market from a functionality perspective, but that does not mean it is stagnant as there is evolution toward cloud architecture and composable capabilities.”

With comprehensive capabilities across WAM and WACS as core EAM solutions, embedded Asset Predictive Maintenance (APM) features, and embedded analytics through Oracle Utilities Analytics Visualization (OUAV), Oracle has the solutions to help support the intelligent assets of the future. Gartner states, “In the last two years—based on thousands of client interactions on EAM—we have seen a rising interest in predictive maintenance and APM. This results in a frequent joint offering of EAM and asset performance management (APM) from many vendors.” Moving forward, utilities must have these types of tools at their disposal. As more smart assets are introduced with more sensor data available, customers will be able to fully realize how to understand the state of the assets in their portfolio. Gartner states¹:

“Through 2025, companies offering equipment as a service through product servitization will need EAM products enabled with remote monitoring of assets and remote support of field service workers, which will increasingly overlap with field service management (FSM).”

WAM/WACS supports the full set of core EAM functionality needed for utilities, which includes providing leading Field Service Management through the tight integration with Oracle Field Service. The importance of integrated mobile workforce solutions has become more critical. Gartner highlights this reality, stating, “Support remote workforce needs as more maintenance work on assets will be done in the field if deploying equipment as a service.” Oracle has been recognized as a Leader in Gartner Magic Quadrant for Field Service Management for nine years running. This is based on our completeness as a solution and relentless focus on innovation and delivering for our customers.

Oracle Enterprise Asset Management continues to gain momentum amongst customers and throughout the industry analyst space. By offering a comprehensive asset management solution, Oracle empowers customers to boost their productivity and efficiencies, help predict and prevent problems, and extend asset life.

To learn more about Oracles Work and Assets solution, please visit: https://www.oracle.com/utilities/work-asset-management/

1. Gartner, Market Guide for Enterprise Asset Management, 14 February 2023, Kristian Steenstup, Nicole Foust

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