Powered by SAP BTP Integration Suite, Lloyd’s Register’s asset performance management solution called AllAssets intends to help organisations — including those in the oil and gas industry — optimise resources and ensure their assets operate efficiently.
Engineering, technical, and business solutions company Lloyd’s Register provides expertise across more than 70 locations and offers services to customers in 182 countries globally. Closer to home, Lloyd’s Register established a partnership with BAE Systems Maritime Australia (BAESMA) last year to assist local businesses in their preparations for supplying equipment to the Hunter Class Frigate Program. The company has been selected as the classification society for the project, which is dubbed as the biggest surface ship initiative in the country’s defence history.
Lloyd’s Register has grown into one of the world’s top suppliers of engineering and technological solutions for the maritime sector. Since its inception in 1760, the company has never ceased innovating and is now harnessing the power of the cloud to make significant strides ahead. Today, Lloyd’s Register has also ventured into creating new offerings for organisations in the oil and gas industry, specifically those engaged in downstream production.
With the extensive knowledge gained through modernising marine vessels, equipment, and structures, Lloyd’s Register wanted to incorporate this experience to create an asset performance management solution that aims to address common challenges encountered by energy firms. Selecting the SAP Business Technology Platform (SAP BTP) to help build the offering called AllAssets, Lloyd’s Register Product Go-To-Market Strategy Head Oz Rodriguez noted that they chose to partner with the German enterprise software giant because of its expertise in the energy sector. During a recently held LinkedIn Live discussion, he shared:
“We intimately understand assets and how they can fail. We can use this to help develop the best maintenance or inspection plans for their equipment. But if we have to build the infrastructure by ourselves, it takes too much time.”
Developing AllAssets Solution Using SAP BTP Integration Suite
According to Rodriguez, the SAP Integration Suite — which is a component of SAP BTP — supported the development of workflows that allowed customers to import data into the AllAssets solution and gave a standardised way of viewing their business information. He further explained that as they were developing the solution, they sought to address the issue of siloed systems, which they believe results in a 20-30% reduction in revenues.
“For us, data is crucial – you need the right data at the right time to make the best decisions. This platform allows us to be an enabler from that standpoint and that’s why working with SAP has been great,” Rodriguez emphasised.
Leveraging SAP BTP and the Integration Suite within the platform, the AllAssets application aims to help organisations in the energy industry to:
- Avoid unscheduled downtime
- Give cost optimisations for inspection and maintenance procedures
- Ensure the operational efficiency of assets
- Allow staff to remotely monitor the health of industrial machinery using virtual images
- Track performance and reliability records
- Determine issues proactively to minimise the risks of accidents
Meanwhile, Ivo Bauermann, Senior Vice President (SVP) and Head of Business Development for SAP BTP, also expressed in the LinkedIn Live session:
“SAP provides building blocks with industry expertise. SAP BTP is a unified set of software services that allows you to integrate business processes, orchestrate business data, and easily create applications for unique user experiences.”
Moreover, given Lloyd’s Register’s history of leveraging SAP BTP in the past, Rodriguez expressed anticipation for the recently introduced unified low-code and no-code capabilities to upgrade the platform. Unveiled during SAP TechEd 2021 along with other tools and services, the low-code and no-code capabilities provided by SAP BTP allow IT professionals and citizen developers alike to construct enterprise-ready applications such as automation, workflows, and chatbots.
Rodriguez expects that the latest features, along with the portfolio of pre-built services, will enable his department to concentrate on further improving the company’s customer offerings. He concluded:
“Because SAP BTP evolved and matured, it’s allowed us to increase our vision and ambition.”
