Stibo Systems
Master Data Approach in Energy Landscape

Organizations in the energy sphere are usually driven by physical asset and data management. As the industry often encounters mission-critical digital information about products and their lifecycles, companies demand for a single version of the truth to align business processes. “Very often, the information is scattered across systems in an organization, generating the need for a central repository,” says Rob Bruce, Director-Solution Consulting and MDM Evangelist, Stibo Systems. Headquartered in Denmark, Stibo Systems provides a master data approach based on a single technology system to enable a unified point of reference to align the business goals.

Further, maximizing production and minimizing downtime has become increasingly important for the energy industry today to excel globally. “The companies want a competitive edge to produce and perform better with the available resources,” adds Bruce. Stibo offers a comprehensive strategy that can encompass huge data and asset management along with performance monitoring, predictive maintenance, product lifecycle. Stibo uses Maintenance, Repair, and Operations (MRO) based hierarchy structure approach in its Multidomain Master Data Management (MDM), so that they can view all information from a central repository and store latest information.

Stibo’s MDM solution, Stibo Enterprise Platform (STEP) handles the enterprise data and asset intelligence on a global scale. “We aggregate information scattered across various vertical silos, and position them in a central library, so that companies can easily access high quality master from a single source,” adds Bruce. The solution helps business users to maintain different types of projects and monitor them with a 360 degree view.

STEP also enables enterprises to use the same information about a particular product by providing a single point of reference of product parts and assets. This information can be shared with other systems responsible for managing the purchase and service of assets.

The solution streamlines the process of aggregating and consolidating operational information from multiple sources and formats. For instance, the technology provides consistency and control in maintaining and using information, ensuring that energy organizations do not use inconsistent versions of the same data in different parts of business.

STEP makes it easy for the end-users to make business rules and associate relationship with different entities.

We aggregate information scattered across various vertical silos, and position them in a central library, so that companies can easily access high quality master from a single source

“STEP’s technology is flexible enough to meet the needs of customers in industry verticals as different as healthcare and energy,” adds Bruce. Stibo’s solution encompasses a wide range of entity types like party, locations, physical assets, and documents. This allows the system to support the management of parts, production assets, transmission assets, projects, contractors, suppliers, vendors, employees, and the links between them. “Our application presents your data through a visual model which makes it more accessible and friendly for business users,” says Bruce. The solution is object-oriented and can relate projects with governance. The solution can also create a detailed history of the product life cycle in the company. Additionally, the MDM solution catalogs variety of information like the word documents, images, and videos through its digital asset management solution.

Stibo Systems has shown tremendous dedication and commitment in delivering superior customer experience to their clients. In one instance, a leading energy firm had approached Stibo Systems’ to standardize the project execution so that manipulations in the data can be minimized. After installation, the energy firm witnessed success in project execution in their day to day operations.

Forging forward, the company plans to incorporate cloud based solutions deployed by Amazon, Microsoft, and AWS. “We are also looking for partners to build standard integration on top of the solution to enhance some of our robust data quality” concludes Bruce.