Key criteria in leading analyst firm’s selection of Oniqua included product family attributes and business impact
ASCO owned, Oniqua Intelligent MRO, the leading provider of MRO inventory optimization solutions for asset-intensive organizations, today announced it has been awarded Frost & Sullivan’s North American Asset Performance Management Solution Oil & Gas Product Leadership Award.
“Leveraging its expertise in developing technologically advanced asset performance management solutions, Oniqua’s IQ Optimization Suite addresses industry complexities by optimizing the management of critical maintenance spares and materials across the full asset lifecycle,” stated Sankara Narayanan, Senior Analyst, Frost & Sullivan. “What largely differentiates the IQ Optimization Suite is that its advanced MRO-specific algorithms and analytics capabilities balance both cost and risk.”
Frost & Sullivan analysts determine award winners based on a variety of benchmarking criteria in two main categories: product family attributes (match to needs, reliability/quality, product/service value, positioning, and design) and business impact (financial performance, customer acquisition, operational efficiency, growth potential, and human capital).
“Oniqua has secured a competitive edge over its peers by providing a solution with prescriptive analytics, multi-dimensional inventory forecasting algorithms, and reporting capabilities that fill gaps in leading ERP and EAM systems,” added Narayanan. “Designed as a cloud-based solution specifically for complex, asset-intensive MRO environments, the flexible configuration, interactive dashboards, advanced reporting, and intuitive visualizations clearly enhance the value proposition to its customers. With its strong overall performance, Oniqua has earned Frost & Sullivan’s 2017 Product Leadership Award.”
To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized decision support scorecard. This tool allows its research and consulting teams to objectively analyze performance according to key benchmarking criteria, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Oniqua scored a lead rating of 9.5 in both the product family attributes and business impact categories, compared to average scores of 8.0 and 7.0 received by its two closest competitors.
“We are honored by this award and recognition.” said Carlos Fairgray, Executive Vice President Technology & Innovation, Oniqua. “Oniqua is proud to have attained a near-perfect score on each of Frost & Sullivan’s customized decision support scorecard criteria. The team’s dedication and relentless pursuit of delivering on best-in-class products are making a real difference in the industry. We are pleased our efforts have been recognized by such an esteemed research and analyst firm as Frost & Sullivan.”
Download a complimentary copy of the award report here
ASCO, which celebrates its landmark 50th anniversary in 2017, is the leading supply base operator to the global oil and gas industry. Working primarily with IOCs, E&P companies and major contractors, the company is headquartered in Aberdeen, Scotland and operates from 17 bases in seven countries, and employs 2,000 people. Supply base management operations are augmented by a suite of complimentary services, including materials and warehouse management, waste management, decommissioning, transport and logistics, training, personnel provision, fuel services and marine management. ASCO also delivers a range of specialist technical and advisory services in marine, warehouse and inventory and lifting operations. Operations are delivered using world class technology via our proprietary integrated Logistics Management System (iLMS). ASCO is owned by DH Private Equity Partners and ASCO Management. To find out more, visit www.ascoworld.com