Asset Performance Networks (AP-Networks) was founded in 2000 by George DeBakey and Brett Schroeder. AP-Networks is an industrial software company engaged in the development and licensing of Cloud-based AI-driven platforms that include an integrated suite of SaaS-based applications to markedly improve the performance of capital projects (capital investments to develop a new asset) and Shutdowns, Turnarounds, and Outages (STOs). AP-Networks' SaaS applications analyze, optimize, and enable seamless coordination of capital projects and STOs in the petroleum, gas, chemical, energy, pulp & paper, mining, glass, and other discrete and process industries.
Brett Schroeder is the Co-Founder and Managing Director of AP-Networks. Brett focuses on the business delivery of products and services to AP-Networks' global client base of more than 80 marquee companies. He shares responsibility for the management of AP-Networks with Co-Founder George DeBakey. Brett has over 25 years of work experience in the energy and petrochemical industries. He has a Master's Degree in Applied Economics and started his career in project and program evaluation for the US Department of Defense before making the shift to the energy sector.
Prior to co-founding AP-Networks, Brett managed a US consulting company's European operation for five years in the Netherlands. During his tenure, the European office grew from a two-person operation to a division encompassing more than 30 employees. This experience provided him with two great learnings, the importance of marketing and selling to a global market given the international character of the energy and petrochemical industries as well as the desire to be an entrepreneur and start a company.
In the early days of AP-Networks, Brett and George were hired by BP to support its great operator team in implementing a long-term strategic program to improve capital productivity through the development of new project evaluation tools and work processes. They worked with BP to design and implement some truly innovative tools for project portfolio management and capital optimization. This was prior to the widespread adoption of AI. But the duo developed some analytical tools that could be viewed as a precursor to AI and it helped to understand how companies can effectively leverage their historical data to produce meaningful insights.
From the onset, Brett and his business partner were always interested in investing in tools and intellectual properties that could help them outperform other companies and make a measurable impact on improving the industry's performance in capital projects and STOs. The duo felt that the traditional consulting companies in the sector were recycling the same solutions and not providing the industry with any innovative ideas or tools that would make a real impact. Capital projects and plant STOs were characterized by very unpredictable outcomes and large cost and schedule overruns. There was a need and an opportunity to provide something different.
When the duo founded the company, both of them largely bootstrapped it with their own savings. The partners had to strike the right balance with investments in tools, research, and intellectual property that would pay long-term dividends and provide lasting value against the short-term need to bring in cash flow for continuous uninterrupted operations.
According to Brett, there are a few attributes that are specifically for leaders but may be more important to the tech sector. He adds that a tech leader should possess creativity and the ability to anticipate the needs of customers and the market being addressed as well as attention to details that matter for leaders and items critical to business success cannot be delegated. A tech leader needs to dive into the weeds on how their products work and how clients are using their products. Brett presumes that delegation is necessary, especially as a company grows, but the leader always needs to stay connected to what is happening at the product development and implementation level. A tech leader should be able to communicate any products' value proposition clearly and succinctly to both staff and clients. It is essential to pay attention to hiring. They should hire people not only with the right technical skills but those who also fit into the company's culture.
Brett remarks that a multi-faceted process such as AP-Networks holds annual networking forums with clients to discuss their problems and their challenges. The team also gathers input on potential enhancements to existing products and discusses research ideas to tackle specific issues. Over time, this has helped to create a market and move the industry continually forward in terms of understanding the drivers of better outcomes and developing improved products.
He adds that the team members of AP-Networks also pride themselves on being an outward-looking company. Each client has a relationship manager who interacts with them on a continual basis. Through this close interaction, it helps to gather ideas on new products or enhancement.
Brett states that the use of AI, Cloud computing, etc will increase the pace of innovation. Within the area of focus, capital projects, and STOs, the company sees the use of AI and big data as helping organizations improve their decision-making by developing their portfolio management, optimization, and long-range planning capabilities. In general, the energy and petrochemical industries have not made effective use of the large quantities of industrial data that they generate. He adds that data is in inconsistent formats and locations and making sense of it has been time-consuming and expensive. AI has the potential to streamline and automate the collection of large volumes of disparate data into consistent and unified formats that can be used to generate real insights for decision-makers.
Brett voices that the role of a leader is increasingly about being up-to-speed on changes in technology and ensuring that their company can adapt quickly to these shifts to stay ahead in the competition.
Brett notifies that AP-Networks will continue to invest in AI/ML, data analytics, and digital platforms and to develop greater user-driven functionality. AP-Networks has established a large, unique, and growing database that continues to grow with each new client. Over time, there will be more opportunities to leverage these data by embedding more insights into Cloud-based platforms, thereby making them more valuable to clients. The ability to gather and analyze data will not only further differentiate and expand the leadership position but provide immediate and tangible savings to clients.
Brett concludes by saying that leaders should listen closely to existing and prospective clients and make sure solutions address a real need or problem.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.