Lloyd’s Register announces AllAssets 3.0 after deployment on 125 sites in year of significant growth

Source: press release, 28 February 2022

Glyn Rhodes, VP Product for APRM, LR Software
Glyn Rhodes, VP Product for APRM, LR Software (photo: Lloyd’s Register)

Lloyd’s Register, a professional services company specialising in engineering and technology solutions, is set to roll out AllAssets 3.0, its asset performance and risk management solution offering operators and asset owners the ability to supercharge their understanding of their assets and make better operational, reliability and environmental decisions.

LR Software, part of Lloyd’s Register, a go-to and trusted provider specialising in digital solutions for the energy and nuclear industries, saw its AllAssets asset performance and management software rolled out on over 90,000 assets across 125 sites last year, drastically increasing its global market share.

AllAssets allows businesses to quantify their risk exposure and prescribe the most effective inspection and maintenance plans dramatically reduction unplanned downtime. The cloud-based software has been customers reduce risk of failure by up to 95% and, with safety and integration in mind, aims to eliminate data siloes and increase asset performance while optimising inspection costs across assets.

AllAssets 3.0 is the latest major update to the solution, due to roll out to customers in March 2022. The software has seen significant updates and additions, all in the name of improving customer experience and enhancing asset performance management capabilities by providing its users with all their data at their fingertips. Updates include increased inspection data capability and tracking, improved data transfer to enhance usability of the risk-based inspection modules, updated security set-up providing finer control over data access, amongst other key enhancements.

Glyn Rhodes, VP Product for APRM, LR Software, says, “We work really closely with our customers to ensure that we’re integrating and implementing their feedback, so that we can be certain that we are providing solutions that not only reduce risk and improve operational efficiencies, but that allow them to achieve their business goals. AllAssets 3.0 is a culmination of our industry knowledge and expertise, but also a collaboration with our customers.”

“We’ve seen the value that AllAssets is already bringing to customers – in fact, one customer was so confident in the software, that they signed up for 10-years and two long standing customers have renewed early – and last year we were delighted to roll the application out over 125 sites, on four different continents. With that success, we have been able to continue investing in AllAssets – and our team – to ensure that we’re providing a best-in-class solution that offers our customers the confidence to make better operational decisions faster than before. We believe that vision begins with supervision and that is at the core of the updates that we’ve introduced to AllAssets this year,” Rhodes continues.

The AllAssets team experienced significant growth in 2021. The development team grew by 30%, reflecting the investment in the AllAssets solution as a whole, and an internal promotion saw Punithan Natarajan appointed Product Manager. Natarajan has been employed by Lloyd’s Register for 10 years having initially joined the team as a software developer. Similarly, Oz Rodriguez, who has worked for Lloyd’s Register since 2006, initially joining the team as a software developed, has risen through the ranks and took up the position of Head of Product GTM Strategy in March 2021.

Lloyd’s Register’s AllAssets has all the tools required to provide a holistic view of your risk exposure and the expertise and track record to help you keep your operations running effectively and is currently used globally by companies operating in upstream, midstream and downstream oil and gas, as well as chemicals and pharmaceuticals.