Frost & Sullivan Recognizes Aspen Technology's Superior Performance in Delivering Plant Solutions to the Process Industries.Business Editors/High-Tech Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--April 19, 2004 Frost & Sullivan's recent study, "World Manufacturing Execution Systems – Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company. Market," has recognized Aspen Technology Aspen Technology (NASDAQ: AZPN) provides software and professional services to the manufacturing and process industries which allows companies to model, manage, and control their operations. AspenTech was founded in 1981 by MIT professor Dr. (Nasdaq:AZPN) for its superior ability to deliver substantial value to process industry customers with innovative solutions, such as its manufacturing execution systems (MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ) products. Aspen Technology was presented with the 2004 Frost & Sullivan Vertical Market Penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" Leadership award in recognition of its consistent track record of providing solutions to the process industries that directly impact the bottom-line profitability of its customers. Frost & Sullivan presents this award each year to the company that has outclassed out·class tr.v. out·classed, out·class·ing, out·class·es To surpass decisively, so as to appear of a higher class. Adj. 1. the competition in satisfying customer requirements and developing novel technologies. AspenTech is unique in that it provides the critical applications and services that are needed to both build and to run the manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. at their highest possible level of profitability. Its products are founded on its core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
"AspenTech's solutions fill a gap that currently exists between the business systems that record historical financial performance and the plant systems that control the second-by-second process operations at each facility," notes James Nayagam, industry analyst with Frost & Sullivan. "This solution space, which connects the production P&L to the manufacturing processes, is increasingly being referred to by the name Enterprise Operations Management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. (EOM (End Of Message) A character that signals the end of the current message. ). EOM solutions provide operations personnel with a way to visualize and analyze their operations from a business perspective, and then translate business decisions into specific actions. The net result is that when a business variance occurs, personnel immediately know when it occurs and why it occurs. More importantly they can make decisions to optimize the future profitability of their business." AspenTech's flagship MES offering is based on its proven Plantelligence(tm) technology and enables process companies to manage their operations from a business perspective by utilizing real-time information from their manufacturing operations. The solution consists of key components that include production execution, advanced control and optimization, plant scheduling, operator training, operations engineering and performance management. Based on its vertical industry expertise and strong modeling capabilities, the company has created several modules which address the unique needs and challenges of the process industries and are strongly differentiated from its competitors. Its superior industry knowledge and application expertise has helped AspenTech to establish itself as the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, in the process industries. "AspenTech's strategy of focusing on the process industries appears to have paid off, as evidenced by its significant market presences in the oil & gas, petroleum and chemicals segments," adds Nayagam. "Its growth in these vertical markets and the value it has delivered to customers has made it the yardstick against which competitors are measured." About AspenTech Aspen Technology Inc. provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production and streamlining the delivery of finished products. These two offerings are combined to create solutions for enterprise operations management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Shell and Total. For more information, visit www.aspentech.com. About Frost & Sullivan Frost & Sullivan Awards are presented to companies that demonstrate excellence in their industry, commending the diligence, commitment and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com. |
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