mPrest and UMS Group Partner to Deliver World-Class Electric Utility Operational Analytic Solutions
NEW YORK and PARSIPPANY, NEW JERSEY, April, 11, 2018 - mPrest, a leading global provider of mission-critical situational awareness, analytics, automation and control software for grid modernization and asset health management, and UMS Group, a leading provider of asset management, portfolio optimization, and operational performance management solutions, today announced a partnership to offer comprehensive applications that address the evolving needs of the electric utility industry.
This partnership is built upon the joint strengths of mPrest and UMS Group, providing real-time data access, situational awareness and process optimization, as well as best practice insights into asset risk, criticality and consequences of failure. As a result of integrating UMS’ unique capabilities into the mPrest 'System of System' applications, mPrest can now offer energy utility clients real-time and automatic capabilities such as asset economic and risk optimization, and reliability and vulnerability analysis and optimization 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’ 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 optimization. mPrest’s 'System of Systems' product, with the ability to interface and correlate multiple IT and OT legacy and future systems, enables customers to benefit from UMS’ predictive optimization 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 optimization of the entire asset management lifecycle”, said Jack Shearman, CEO of UMS Group.
mPrest’s and UMS’ cooperation offers energy utilities the benefit of online and real-time operations and cost optimization, as well as risk assessment applications, analyzing the entire asset fleet. Furthermore, mPrest’s 'System of System' architecture integrates with all relevant IT, OT, ERP, financial and asset platforms, thus automating currently manual audit and control processes.
mPrest is a global provider of mission-critical monitoring, control and analytics software. Leveraging the power of the Industrial IoT, mPrest's integrative 'System of Systems' is a proven catalyst for digital business transformation. Our management solution has been deployed in next-gen IoE (Internet of Energy) applications for power utilities, as well as innovative management applications and IT/OT integration for water utilities, smart cities, defense and HLS. For more information on mPrest, visit www.mprest.com.
About UMS Group
UMS Group is a leading global consulting and solutions firm focused on utility asset management, performance assessment/improvement strategies, and digital transformation of the utility industry. UMS Group’s proprietary databases, analytical tools and methodologies have been utilized by over 300 gas, water and electric utilities on six continents. UMS Group is an ISO 55000 Assessor endorsed by the Institute of Asset Management (IAM). For more information: www.umsgroup.com.