Software companies team up to deliver asset management industry 'first'

TechnologyOne (ASX: TNE) has formed a partnership with Assetic to jointly develop and sell the market's first fully integrated, total asset management software solution.

The integrated solution will provide customers - such as local government and utilities providers - with all the tools they need to manage, maintain, upgrade, report on and plan for long-term infrastructure such as roads, water, sewerage and buildings.

TechnologyOne already works with more than 300 councils, energy and water providers, ports and airports in Australia, New Zealand and the UK, while Assetic software is installed in more than 80 sites in Australia and overseas.

The new solution being developed by the partnership integrates TechnologyOne Enterprise Asset Management (EAM) and Assetic Strategic Asset Management (SAM).

TechnologyOne EAM enables customers to manage the operations and maintenance of infrastructure and assets, while Assetic SAM uses nationally benchmarked algorithms and modelling for long-term financial analysis, forecasting and community service planning.

TechnologyOne General Manager - EAM, Peter Suchting said the new solution was more than the sum of its parts.

"The two products do not compete with each other, but work together to form an end to end solution - part of the objective of formalising the agreement is to clarify this to the market," Mr Suchting said.

"We share many customers with Assetic and have been talking about a strategic partnership for some time - the two products complement each other to offer a complete asset management solution."

Assetic Director - Client Services, Ashay Prabhu, said the agreement would deliver something that had not been achieved before when customers needed it most.

"The timing could not have been better for the two firms to partner, with the mandating of Asset Management Plans now imminent under the National Asset Management Framework," Mr Prabhu said.

"It provides a whole-of-organisation, seamless point of control so customers can create 25 year financial plans, deliver compliant asset accounting, five year capex programs and service delivery trade-off options.

"We expect demand in local government, utilities, housing and aged care will grow as an ageing population and increasing taxation burden places even more pressure on government bodies to do more with less, and need to carefully plan for how they will fund existing and future assets."

TechnologyOne has invested heavily in its EAM product since bringing noted industry expert, executive Peter Suchting and a number of other senior EAM experts on board in 2010.

In addition to overseeing the development of new features, including enhanced asset hierarchy, GIS integration and mobility, Mr Suchting also re-initiated talks with Assetic.

"Everything we have done has been in response to client feedback - they told us they required mobile functionality and long term forecasting capabilities for their asset management so we have focused on delivering them," Mr Suchting said.

"Once we started serious discussions with Assetic, we found we share the same values, offer quick implementation times, training, support and maintenance services to customers, and involve staff at all levels in the system setup to make sure we meet their needs.

"The formalisation of the partnership between Assetic and TechnologyOne allows the organisations to work jointly on deals, share prospects and behave like partners and has already been embraced by our customers."