The need to replace an end-of-life asset management system with a modern cloud-based solution that manages more than 10 million of Essential Energy’s assets has resulted in Essential Energy receiving the Initiative of the Year Award on an international stage.

The award was handed to Essential Energy in front of an international audience during the Oracle Customer Edge Summit in the U.S. (Nashville, Tennessee).

The award recognises Essential Energy’s Enterprise Asset Management initiative, which implemented Oracle Utilities Work and Asset Cloud Service (Oracle Utilities WACS) and redesigned the business processes of managing assets throughout their entire lifecycle, including all the work done on them.

Essential Energy’s Head of Asset Engineering, Risk and Compliance, Brad Thomas says the Enterprise Asset Management solution established a platform that has strengthened the core of Essential Energy’s business operations.

“Essential Energy invested over four years curating an end-to-end enterprise asset management solution that is fit for purpose for our business and our customers,” Brad says.

Catherine Gordon, Andy Mainwaring, Michael Pelley and Oracle Utilities Senior Vice President and General Manager Creighton Oyler.

“The solution design factored in the necessary process, data, system and technology changes required to modernise and uplift our asset management capabilities and strengthen our core business operations today, while setting the business up for the future,” Brad says.

Oracle Utilities WACS also provides the business with data and insights that were not previously possible.

“The cloud-based solution has enabled a future that harnesses data and insights through the management of our assets and supports our teams to drive the most value from them to the betterment of our most important stakeholders – our customers,” Brad explains.

Oracle Utilities Senior Vice President and General Manager Creighton Oyler praised this year's award winners for their innovative use of cloud-based solutions, which led to significant business success in various regions and key projects.

“With the energy and water sectors experiencing significant transition and new demands, organisations are ambitiously modernising operations to boost performance and create better experiences for customers and employees,” Creighton says.