Independent research firm Verdantix has released its annual global survey of 284 managers responsible for operational excellence at large firms across 12 industries and 13 major economies. The interviewees – managers responsible for asset integrity, engineering and operations — expect an average budget increase of 6% in 2020 compared to 2019. High priorities for 2020 are achieving safe operations (58% of respondents), improving asset reliability (50%), and enhancing process excellence (44%).
“Our operational excellence global survey provides unique data on the 2020 budgets, business priorities and technology preferences of managers responsible for asset integrity, maintenance and safety at the world’s largest industrial firms” commented Verdantix CEO, David Metcalfe. “With the Verdantix operational excellence survey data corporate managers can benchmark against their peer group and tech vendors can align go-to-market plans for 2020 with customer requirements.”
The Verdantix report, ‘Operational Excellence Survey 2019: Budgets, Priorities & Tech Preferences’, is available to research subscription clients. Key findings:
New technology is the most significant factor driving investment in operational excellence (49%), compared to efficiency programmes (39%), industrial accidents (35%) and enterprise risk management goals (29%).
Only 15% of operational excellence managers think digital technology is essential to their success, versus 60% who say it is valuable and 24% who make only minimal use of digital technology.
Very significant innovations for the next 2 years are digital twins (45%), predictive analytics for asset failure (40%), connected worker platforms (38%) and digital sensors for remote monitoring (32%).
Very important factors driving spend on asset performance management are operational excellence programmes (42%), CEO-led digital transformation strategies (41%), high costs from unplanned downtime (40%) and the availability of new digital technology (35%).
The Verdantix operational excellence global survey also assessed buyers’ brand perception. The five most preferred brands for APM software are SAP, Oracle, IBM, ABB and Emerson. The five most preferred brands for Operational Risk Management software are DNV GL, Sphera, SAI Global, Enablon and Cority. The five most preferred brands for operational excellence digital services are IBM, Accenture, Capgemini, DuPont Sustainable Solutions and Deloitte.
To learn more register for the Verdantix webinar: ‘Operational Excellence In 2020: Budgets, Technology Plans & Business Priorities’.