Synovos: Comprehensive Integration of Asset Management

Tony Kashani, EVP EAM
Synovos means “New Integration” and that is what the Radnor, PA-based company offers clients in diverse industries—a new integration of supply chain, asset management and technology services that improve an organization’s bottom line.

Rooted in MRO supply chain management Synovos realized what was missing from the management of indirect materials, and it was something other companies didn’t provide. The industry was lacking interconnectivity between the supply chain—sourcing, procurement, inventory management activities—and maintenance, and how that impacts production uptime, facility management, and client satisfaction.

Synovos set out to create that missing connectivity. Built in the cloud, the company’s technology platform called Synovos SYNC™, a proprietary Enterprise Asset Management (EAM) system, helps clients better manage their MRO supply chain and effectively plan and schedule maintenance across all of their assets. As Michael Weinberg, Chief Marketing Officer and SVP Corporate Development, Synovos, says, “We help organizations understand that relationship between MRO supplies, spare parts and assets to more efficiently keep their plant or facility performing at the highest level.”

Synovos’ solution takes advantage of the industry’s middle ground. To one extreme lies customized business solution platforms and at the other are the off-the-shelf solutions offering little customization. The Synovos solution is built on best practices, offering customizations to suit specific client needs. This approach results in high adoption and faster implementation. Tie that in with Synovos’ other services, including data enrichment, asset services, and supply chain services, and the comprehensiveness of the company’s offering becomes evident.

Data enrichment plays a critical role in the Synovos solution. While data enrichment is not a new concept, Synovos takes a different viewpoint. “Our service is called Master Data LeadershipSM, we emphasize the leadership component that includes an approach to governance and stewardship that has been consistently missing from the data management sphere,” remarks Weinberg.
Michael Weinberg, CMO & SVP Corporate Development

Master Data LeadershipSM centers on the understanding that manufacturer make and model is a small part of data enrichment. Information collected on site is built out with meaningful attributes and information useful to supply chain personnel; as well as, maintenance and engineering professionals. The collected data can be enriched in such a way that it is consistent across part numbers, locations, and geographies, providing a more complete global approach to data management.

The efficiency of the Synovos solution cannot be understated. One Synovos client had a low level of adoption of a previous EAM solution. The system was complicated, lacked functionality, and was difficult to use. “Synovos streamlined their solution to suit the client, reducing five or six system integration points to one and bringing an ease of use unlike what any other company offers,” comments Tony Kashani, Executive Vice President EAM, Synovos.

This ease of use can be seen in how Synovos has brought the business-to-consumer experience to the business-to-business world. “There is no better example of this than our catalog, which allows clients to search for items much as they would on popular consumer sites,” adds Kashani. It is this type of innovation that sets Synovos apart.

As Synovos continues to navigate the waters of supply chain and asset management, the company intends to keep mobility and the Internet of Things (IoT) firmly in its sights. While IoT will never replace EAM software, the key will be to collect and feed data from IoT enabled devices into a system that stores and utilizes the inputs in an impactful manner. With the best minds in the industry and a collaborative, entrepreneurial work culture, the future of The New Integration is bright at Synovos.

Company
Synovos

Headquarters
Radnor, PA

Management
Tony Kashani, EVP EAM and Michael Weinberg, CMO & SVP Corporate Development

Description
An integrated, comprehensive supply chain and asset management solution.

Synovos