In the last years, technology companies have developed several software that help RE asset managers to reduce costs, improve the performance of their plants and organize activities and tasks.
If we look at the market right now, we see that these software help asset managers in four different ways:
Just like enterprise resource planning systems, asset management platforms speed up operations by automating tasks and events, managing procurement and inventory and keeping track of all activities related to contracts and compliance needs.
Some software gives the possibility to turn energy flows into cash flows. In addition to that, they can help drawing business plans and analyse the impact of asset performance and related expenses on the overall profitability.
- Customer relationships
Most of asset management platforms not only have CRM features, but also allow to automate all performance and asset reporting activities, while easily sending invoices to customers.
Some asset management tools also integrate features which are typical of O&M systems, like alarms management, production monitoring, weather and performance ratio tracking.
In our opinion, these are the top 3 Energy Asset Management software available in the market:
- Arbox – an innovative clean-tech company that develops software to solve problems in the renewable energy sector. Its purpose is to
lower the levelized cost of energy (LCOE) through smart software.
- Alectris – It optimizes Solar PV Performance with Integrated Operations, Maintenance and Asset Management. They are a global solar O&M firm, creators of ACTIS, Solar ERP.
- 3megawatt GmbH – It develops web based software tools for solar asset management. The company offers BluePoint, a web based platform for solar asset management and portfolio risk management. It caters to Fund Managers, Equity Sponsors, REITs, Private Equity firms, and Asset Managers.
Now, when it comes to choose a software it is important to consider what makes sense for you.
On one hand, these kinds of software are extremely reliable: they have been tested and are used daily by various asset managers. They are easy to integrate and easy to get, as we previously wrote on our last article.
On the other hand, you have to consider your budget and understand if what you are paying for is really what you need. For example, not all tools can handle the same amount of data and there is no sense in paying for more capacity than you will need. Plus, you get a software which cannot be customized and could possibly miss features you need to run your business.
So, at the end of the day your priorities will dictate which is right for your company. With any investment, the initial cost as well as the costs to customize and then train your staff must be considered. You want to be sure you not only purchase the right software, but that you have the level of support you need and a marketplace where you can easily get what you need, seems the perfect answer.
This is the one of a series of articles, where we take a look at how energy companies can boost their performances through digital energy. In this series we will discuss:
- New revenue opportunities in the digital energy era
- Main struggles with energy monitoring and management software
- Vertical all in one solutions Vs. Building your own energy software