MPrest works with UMS on utility analytics
April 18, 2018
Israeli company MPrest is working with UMS Group to deliver operational analytics to electricity utilities.
MPrest provides mission-critical situational awareness, analytics, automation and control software for grid modernisation and asset health management, and UMS Group provides asset management, portfolio optimisation and operational performance management.
The partnership aims to offer applications that address the evolving needs of the electric utility industry. It plans to provide real-time data access, situational awareness and process optimisation, as well as best practice insights into asset risk, criticality and consequences of failure.
As a result of integrating UMS's capabilities into the MPrest System of Systems applications, they can offer energy utility clients real-time and automatic capabilities such as asset economic and risk optimisation, and reliability and vulnerability analysis and optimisation for major processes across the utility.
"UMS Group's unique methodologies and best practices in the domain of economic risk management enhance the MPrest System of Systems and asset management products with field proven cost and risk analysis models," said Ron Halpern, chief commercial officer at MPrest. "UMS's expertise combined with MPrest's advanced monitoring, analytics and control software form a comprehensive set of operational tools that are essential to the modern electric utility."
The modern grid requires real-time situation awareness, analytics and optimisation. The System of Systems product has the ability to interface and correlate multiple IT and OT legacy and future systems, enabling users to benefit from UMS's predictive optimisation and risk analysis capabilities in real time, driving more effective risk management and accelerated decision making for energy utilities.
“Furthermore, MPrest's real-time connectivity to multiple assets and platforms enables the customer to benefit from end-to-end optimisation of the entire asset management lifecycle," said Jack Shearman, CEO of UMS Group.
The cooperation offers energy utilities the benefit of online and real-time operations and cost optimisation, as well as risk assessment applications, analysing the entire asset fleet. The System of Systems architecture integrates with all relevant IT, OT, ERP, financial and asset platforms, thus automating currently manual audit and control processes.