AspenTech drives its IT to new levels of profitability for the process industries

Aspen Technology’s just launched ProfitAdvantage software for the process sector shows a company that’s serious about its move beyond its advanced control and optimisation roots into full scale enterprise business management systems. The new suite is aimed at enabling companies to identify and maximise profit opportunities throughout their ‘value chain’ – from the supply of raw materials, through the production of goods, to the delivery of products to customers. ProfitAdvantage encompasses engineering, manufacturing, supply chain and e-business collaboration technologies in an integrated solution. It brings together design, optimisation and execution of business processes with the emphasis on real time. Aspentech claims potential benefits of some 4—6 % of yearly revenues. It lists increased throughput, higher average product selling price and better customer service as key deliverables. Then there’s its traditional heartland of reduced operating costs (5—10 %) from reduced raw material usage and utility and logistics costs, as well as optimised product sourcing, lower supply chain costs, and better engineering innovation. Finally, the firm says users can expect improved capital efficiency, with inventory turns up 10—30 % and decreased capital expenditure (down 15 %), from optimised performance of manufacturing assets. “With our new ProfitAdvantage solution, we have taken the concept of Enterprise Optimisation to a new level, exploiting our latest collaboration and execution technologies to enable our customers to maximise profits throughout the process industry value chain,” says Larry Evans, chairman and CEO of AspenTech.