For companies in the enterprise solutions business, the ability to launch new products to the market is of utmost importance. Not only such endeavours add more features to their products but also expand the range of end-user applications. When product innovation takes the backseat in a challenging business environment it is commendable that Canadian Venture listed WellPoint Systems Inc (TSX-V: WPS) remains committed to product innovation.
WPS is a leading provider of software and related solutions with focus on the energy industry and just launched its Enterprise Asset Management solution, named DAXEAM. Powered by Microsoft Dynamics AX, DAXEAM is an enterprise asset maintenance solution that manages the complete asset life cycle. DAXEAM is fully integrated with Microsoft Dynamics AX, providing equipment and asset maintenance to AX customers in asset intensive industries. As a native Microsoft Dynamics AX module, DAXEAM integrates maintenance operations with Microsoft Dynamics AX's back office ERP functions.
Product innovation is not alien to WPS. The company has introduced a wide array of products and features over the last few years. Last year WPS released WellPoint Intelligent Dashboard which gives users easy point and click access to critical industry and company data - all from a single, central point of access. The Dashboard uses SQL Reporting Services and cube technology to aggregate data and measurements from WellPoint's software as well as third party applications. The system utilizes WellPoint's data and a standard SQL Datastore to produce Business Intelligence objects. Customers can easily connect to their data in the WellPoint systems and any other SQL compliant system, allowing them to create intelligent dashboards, providing analysis and insightful reports in just a few clicks.
The Enterprise Asset Management solution, DAXEAM is designed and built from the ground up as a true 'enterprise' maintenance solution for Microsoft Dynamics AX. DAXEAM takes advantage of the power of Microsoft Dynamics AX providing a single, seamless environment for users and eliminating costly and inefficient integrations. DAXEAM works with Microsoft Dynamics AX thereby maximizing a company's ability to affect true enterprise-wide efficiencies. As a native Microsoft Dynamics AX module, there is nothing extra to build, customize or maintain but is usable from day one.
So how does DAXEAM help end-users? The product heralds a unified environment between maintenance operations and the back office for security, logistics, workflow and reporting enables true 'enterprise' asset management. It is essentially a single point of data entry, single source of records for vendors, inventory, and assets. While reducing operational inefficiencies DAXEAM eliminates multiple data sources and the effort to reconcile disparate data sources, optimize human and material resource utilization, and provides real-time visibility into maintenance operations. The product overall increases accuracy and timeliness of maintenance forecasting and planning.
Based on what we understand from the company website and filings, what DAXEAM enables seamless integration and is a more acceptable solution compared to most of the other 'standalone' equipment maintenance solutions. While standalone solutions require costly and inherently complex integrations and duplicate databases for important corporate data such as vendor files, purchase orders, inventory, receiving and matching, DAXEAM shares vendors, purchasing, inventory and receiving with Microsoft Dynamics AX. There are no multiple data entry points, no need to 'synchronize' files and no need to create costly data reconciliations between two systems.
According to Phil Earle, DAXEAM Business Unit Director, WellPoint Systems the launch of DAXEAM is the culmination of months of collaboration with Microsoft, customers and partners and analysis of the EAM marketplace. The product is in response to partners and customers request for a fully integrated EAM solution - one that takes full advantage of the combined force of DAXEAM's maintenance functionality, fully integrated with Microsoft Dynamics AX, providing a true 'enterprise' based asset maintenance solution stated Earle.
Admittedly, getting the head around WellPoint’s business is not particularly easy. We had a lengthy conference call with Phil Earle and Andrew Bird and were able to get information about how WPS products work. Their products in fact have a wide range of applications from energy and mining to aviation, manufacturing and public sector. Their products are essentially modules added on to existing Enterprise resource Planning (ERP) solutions. Even though markets are yet to fully understand the company’s investment case, WPS’s products are used by well known mining and Oil and Gas companies in the world. With continued product innovations, WOS is fast making a mark in its end-user markets. Perhaps it is time to take a closer look at WPS as an investment.
About WellPoint Systems Inc.
WellPoint Systems delivers software solutions and services that transform complex data into Business Insight for over 450 companies in 60 countries worldwide. WellPoint Systems is recognized as a leader in providing Financial, Energy Marketing and Trading solutions to the Oil and Gas industry with its award winning BOLO, IDEAS, Energy Financial Management and Energy Broker products. The company also serves asset intensive industries including aerospace/aviation, process manufacturing, mining, the public sector and fleets with its DAXEAM Asset Maintenance solutions. As a Microsoft Gold Certified Partner since 2005, WellPoint is the only Independent Software Vendor (ISV) and Microsoft Dynamics partner dedicated to the energy sector.