The 5 advantages of cloud-based asset management software
There is plenty of documentation about asset management software. However, cloud-based asset management software is new and does not have many documents about the benefits. This is mainly because cloud-based asset management software is a new way of working within the oil and gas industry.
The cloud is a server cluster that can dynamically allocate tasks. If one of the servers fails to work, the other servers automatically take over, and they will continue as nothing happened. On-site, it is done through redundancy and virtual machines, but this needs to be supported by the IT team.
Nowadays, cloud service providers can outsource these operations, such as Microsoft Azure. The cloud provider handles complex topics like cyber security and disaster recovery, which often cause problems in the organization.
Moving from an on-site to an online cloud-based system, like AML-Information Management, in a secure way also provides more accessibility for the employees. The information which only was available in the office is now accessible from home or mobile. But accessibility is not the only benefit of using a cloud system. Comparing it to a traditional on-premises system, we see a few significant advantages.
Cloud-Based Asset Management Software advantages:
It is a matter of minutes to set up a new environment with a cloud-based system. The difference here with an on promise virtual machine comes in the flexibility of resources. When a virtual environment on-premise runs out of space or becomes slow, new parts or entire new servers need to be ordered to resolve the issue. When more resources are required for a cloud environment, the cloud provider makes sure that spare capacity is monitored and available when needed. Applications that run in the cloud do not need client-side installation, making a start and maintenance of a project more accessible and quicker.
Lower IT-related costs
Cloud environments provide better up times through the dynamic allocation of the servers it runs on. If an on-premises server has a CPU failure, that server stops working and needs a replacement before the applications that are run on the server can be used again. With cloud environments, another server within the cloud will dynamically take over the tasks of the failing server.
Cloud environments managed by cloud providers have the added benefits of requiring less local IT resources and knowledge. Items like cyber security and server management are regular tasks for a cloud provider, and this might not be the case for a company with its own IT infrastructure. Moving from a local closed-off network towards an internet-enabled network brings a new list of challenges that need to be handled with great care.
Accessibility & Security
The door to remote access can be controlled and opened with centralized cyber security management. This means that information that was previously only available at the office is now useable from home or other locations which it previously was not. This can also provide suppliers with information to help fine-tune performance issues.
It is important to keep software up to date. Wishes from customers change, developers develop ideas develop, and third parties’ requirements increase. To satisfy all these changes, software needs to be continuously evolving. In a closed-off environment, this is challenging as the supplier cannot quickly provide updates. Supporting and troubleshooting is also a costly effort.
If the server goes down with an on-premises environment, local resources need to find out and get it running again. If the server goes down on the weekend, the software could be down for days at a time. Cloud-hosted systems reside on servers that are monitored around the clock. The servers are typically co-located in facilities that house other applications to spread monitoring costs across the entire customer base. Resources are available to ensure that applications keep running or are recovered quickly.
If you consider upgrading or implementing an Asset Management Software System for the first time, cloud-based software is an option for your operations and maintenance teams. It provides advantages and cost savings over traditional software. The reliability, mobility, and lower total cost of ownership that comes with cloud-based Asset Management Systems offer the competitive advantage needed to take your strategy to the next level.