ATLANTA, GA, December 1, 2015 – Stibo Systems, the global leader in multidomain Master Data Management (MDM) solutions, today announced that it has been chosen as a 2015 Most Promising Energy Technology Solution Provider by CIO Review. Energy companies understand that profits are often linked to their ability to implement a comprehensive strategy for asset management, including performance monitoring, predictive maintenance and streamlined procedures for the provision of service and replacement of parts.
Using Stibo Systems’ MDM solution STEP, energy companies can ensure that all critical enterprise systems use the same information by providing a trustworthy library of parts, assets and their attributes, which can be shared with the multiple systems responsible for managing the purchase and service of assets. This not only allows energy companies to identify parts from different vendors that can be used for a particular application through relationships of interchangeability and supersession, but also helps to manage the relationship of parts to markets and locations in which they are used.
“For energy companies, success depends on maintaining high levels of utilization and operational efficiency, and organizations must find better ways to manage their capital assets, parts and equipment, as they are responsible for producing most of the revenue,” said Pradeep Shankar, editor-in-chief, CIO Review. “Stibo Systems’ technology provides energy companies with a critical view of all information from a central repository from which they can also store the latest information.”
STEP provides a common library of foundational data that supports energy companies’ objective of creating a comprehensive asset integrity management strategy. The MDM system enables business rules and workflows to enforce a consistent process for gathering and maintaining the data required for asset integrity management and shares that information with best-in-class point solutions across the enterprise.
“Today, maximizing production and minimizing downtime is paramount for energy companies to compete on a global scale, and they need to produce and perform better with the available resources,” said Mikael Lyngsø, CEO, Stibo Systems. “We are thrilled to be chosen as a 2015 Most Promising Energy Technology Solution Provider and for being recognized for helping energy companies increase profits by managing their capital assets, parts and equipment more effectively.”
About Stibo Systems
Stibo Systems is the global leader in multidomain Master Data Management (MDM) solutions. Industry leaders rely on Stibo Systems to provide cross-channel consistency by linking product and customer data, suppliers and other organizational assets. This enables businesses to make more effective decisions, improve sales and build shareholder value. During the last 30 years, Stibo Systems has helped hundreds of companies to develop a trusted source of operational information. A privately held subsidiary of the Stibo A/S group, which was originally founded in 1794, Stibo Systems' corporate headquarters is located in Aarhus, Denmark. For more information, visit stibosystems.com.