AssetHive Makes Official Debut, Targets Supply Chain and Asset Management Service, Solution and Knowledge Transfer

It is not often that supply chain and enterprise asset management organisations can partner up with one solution provider and benefit from the collective experience and energy of five different proven problem-solving providers. One of the SAP partners at the recent Mastering SAP Connect event in Gold Coast, Australia, AssetHive, launched the company at the event and is essentially a consortium of five previously independent service providers in this space – Asset Management Advocates (AMA), Rhine River Software, Lexin Solutions, Metanoia, and PM Eleven. Together, as Assethive, they aim to offer comprehensive end-to-end asset management and supply chain software and services solutions in asset-intensive industries like energy, mining, and utilities, leveraging the best of each member’s expertise.

AssetHive is banking on its deep knowledge, expertise, and stellar delivery track record as independent entities and is committed to avoiding the bureaucracy of larger entities. The team intends to take a collaborative, customer-centric approach in bringing value to its customers.  A few of the founders Mark Cooper, Norm Poynter, Tim Christensen, and Tim McLain sat down with MasteringSAP in the Gold Coast and shared their inspirational story.

“AssetHive acts as a counterweight in the market to some of the more well-known EAM software providers, and offer a comprehensive suite of solutions,” said Norm Poynter, AMA co-founder and Managing Director. “We are also focused on succession planning in this industry, with most of us approaching retirement age, aiming to establish a new generation of leaders to carry on the work.”

AssetHive’s offerings will be a combination of planning, scheduling, interactive parts catalogs, and inventory optimisation software solutions, unique intellectual property and professional services. The company intends to leverage all the industry relationships the consortium members have in order to maximise results for its customers. AssetHive aspires to play the role of trusted advisor to its customers, filling gaps in its own solutions where necessary with other trusted like-minded niche boutique entities.

The newly launched AssetHive is close to securing its first customer, which will be a critical milestone in the journey of delivering a new service and solution model to its customers past, present and future.

“We might not always have all five consortium members in every deal but the potential for collaboration is always there on larger projects, said Mark Cooper, CEO at PM Eleven. “Like most early-stage software companies, we want the tangible proof points that come from that first customer and help to inform go-forward decisions.”

The founding team remains committed to some guiding principles that will anchor the identity of AssetHive. First, the team is passionate about transferring knowledge and expertise to its customers, enabling them to become self-sufficient. Second, delivery consistency and integrity and the reputation of the consortium members is paramount, ensuring they always deliver on their promises. And third, the company aspires to provide the best software solutions and services to support sustainable supply chain and asset management.

“Current technology platforms can sometimes obscure users from the inner workings of the system and thereby make everyone less knowledgeable about the software. We believe in perseverance and solving complex problems by learning the solution better than anyone, therefore when SAP seems insurmountable, that’s our sweet spot,” said Tim Christensen, CTO at PM Eleven. “The journey will be unique for each customer.”

What this means for Mastering SAP insiders

Put the expertise of AssetHive to the test. Bring the thorniest issues you’re facing in supply chain or asset management to AssetHive’s industry experts. For instance, aging infrastructure: many organisations are dealing with aging equipment that require frequent maintenance, resulting in increased costs and unplanned downtime. Or lack of real-time data and visibility: many companies have limited access to real-time data on asset performance, condition, and maintenance history, which hinders proactive and reliable decision-making. Or system fragmentation and data silos: EAM data is often spread across multiple systems that do not communicate effectively, leading to inefficiencies. Or integration of emerging technologies: Integrating technologies like IoT, AI, and predictive analytics into legacy EAM and supply chain systems is complex and resource-intensive. Or adopting a lifecycle approach to asset management: managing the lifecycle of assets from acquisition to disposal is complex, especially for large organisations with diverse asset portfolios.

Leverage AssetHive to play role of gap-filler in your existing EAM solution stack. EAM software is a mature category, but there are functional gaps that AssetHive might be able to fill or offer advice on how best to overcome. Some of these gaps include limited integration with emerging technologies like IoT, predictive analytics, and AI; intricate user interfaces that can be difficult to navigate, leading to reduced user adoption and efficiency; limited mobile functionality that restricts field personnel from accessing and updating asset information on the go; limited customisation options, making it challenging to tailor the system to specific organisational needs; inadequate integration with ERP and SCM systems leading to data silos and inefficiencies; and insufficient data accuracy and consistency, which hinders many EAM systems, affecting the reliability of insights.

SAP customers stand to benefit from treating SCM and EAM as siblings. AssetHive’s stated domain includes both supply chain and asset management operations. Addressing both of these functional areas as conjoined components of one system could unlock previously untapped benefits for some SAP customers. Integration of these two components ensures accurate demand forecasting and inventory planning for critical parts, reducing the risk of overstocking or shortages. Real-time visibility into asset conditions and maintenance schedules helps optimise spare parts inventory levels and avoid unnecessary purchases. Also, coordination between supply chain and maintenance teams minimises labor and transportation costs. And holistic tracking of assets and their associated supply chain activities ensures cost-effective decisions over the asset’s lifecycle. Organisations can simulate supply chain disruptions’ impact on asset availability or test maintenance strategies under varying conditions.