ABSG Consulting Inc. (ABS Consulting), a leading global risk management company, and Itus Digital (Itus), a leader in software development for Asset Performance Management (APM), today announced that they will team to provide clients with a powerful end-to-end asset management solution that maximizes performance and longevity while minimizing maintenance costs based on asset criticality. This alliance combines ABS Consulting's extensive suite of asset reliability services with Itus' cutting-edge APM software to operationalize asset strategy via existing data, ultimately providing a clear path to asset management excellence.

The Itus Digital solution is an intuitive and practical application that operationalizes asset strategies by actively managing failure risks and working to more effectively maintain and mitigate emerging threats. The platform is enabled by an asset library that contains more than 200 asset twin models covering common industrial equipment classes, including base failure rates.

"The Itus platform enables our clients to effectively prioritize and manage their maintenance strategies based on asset criticality," says Joe Woods, ABS Consulting Vice President of Risk and Reliability. "The combination of our deep domain experience and reliability expertise, alongside the Itus platform, sets our clients up for long term success."

"We know the current enterprise-level asset performance management, digital twin and industrial AI solutions are expensive to license, challenging to implement and resource-intensive to use," says Joe Nichols, Co-Founder and President of Itus Digital. "We're redefining how organizations of any size can manage asset and operational risks; this includes the recent launch of the Asset Risk Analyzer™, a free and easy to use solution to assess industrial asset risk and criticality."

Risk, reliability and maintenance professionals continue to operate under increasing pressure to maximize asset availability and production while minimizing both costs and risks—a goal that has historically lacked a standardized solution industry-wide. This alliance provides data-driven APM solutions across the asset lifecycle through a systematic and affordable process, supported by technical experts that continue to lead the development of key industry guidelines.