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The fast track to digital transformation for existing assets

Updated: Mar 25, 2022

The landscape of asset ownership in 2021 is rapidly changing. Since the start of the pandemic, we’ve seen the industry scramble to adopt digital solutions to accommodate remote collaboration, remain competitive, reach clients, and maintain global assets.

McKinsey & Company estimates that the COVID-19 pandemic accelerated digital transformation by around seven years. After the year of reactive change, 2021 will be defined by sustainable and scalable digital transformation. For effective business continuity, a digital transformation solution must prioritize safety, have a rapid time to value and establish a strong foundation for the future. So, how can organizations develop a digital transformation strategy for their globally distributed assets? For new assets, a digital twin can provide a holistic solution for the entire asset lifecycle, but what about assets without reliable models?

Essential to the success of any digital twin is high-quality, accurate data. While new assets begin with generating data during the design phase, existing assets must work backwards, by creating a digital model of the existing facility. However, VEERUM estimates that 70%+ of existing assets are lacking a tool to organize and deliver asset information across an organization (1). Information is often siloed and disconnected. Asset stakeholders report the need to reference up to seven different systems during critical decision-making (1). The lack of confidence in information, and difficulty locating information, results in costly, time-consuming, and inefficient on-site verifications. Site visits become requirements to confirm site conditions for regular maintenance, remote inspections, and brownfield projects.

VEERUM Reality Site is the easiest first step in creating a digital model of your existing facilities without the requirement for a CAD model. Gone are the days of manually updating physical P&IDs after turnarounds and maintenance projects. Discover a solution that eliminates the need for an updated CAD model, improves data transparency across your entire team, and takes your organization to the future industry standard of remote collaboration.

Create a digital model of your existing facilities in 48 hours

Data capture is becoming faster, cheaper, and easier with recent developments of mobile mapping hardware. Now, non-subject-matter experts can capture an accurate reality scan of a facility in hours, without the need for a third-party data capture service.

This data capture is combined with any existing 2D, 3D design, satellite imagery and plot plans to quickly create a data-rich digital twin of the asset. In less than 48 hours, organizations can ingest a tag list, and then easily link the tags to related equipment within the reality model. This results in a smart asset information model of the site for the entire organization that can include information like documents, inspection records, work orders, permits, real-time operating data and more.

From here, you can easily align your team with the high-quality data they need to perform their jobs more efficiently, safely, and cost effectively. Unlock new use cases by delivering a data-rich digital twin to your entire organization with unlimited user access.

  • Site maintenance managers now have the visual context they need to streamline decision making and reduce site exposure by more than 50%.

  • Asset owners can create a strong digital foundation for the next 5 years and prepare your organization for success in future AI/ML initiatives.

  • Site supervisors can enable off-site training and bidding, ensuring that contractors have a visual understanding of the site before arrival.

Whether you are taking the first steps to digitize and aggregate your assets or global portfolio, VEERUM can help you along your journey to digital success. Transform your disconnected, out-of-date workflows to game-changing remote collaboration. With VEERUM Reality Site, you can take your assets to the future of asset management.

Visit our webpage on VEERUM Reality Site to learn more.

1. Information gathered from primary interviews with clients and industry professionals.


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