Episode Details

Overview

Scott Mackenzie hosts the Industrial Talk podcast, featuring Peter Morrow, Chief Revenue Officer at TRM, discussing asset management and reliability. TRM, which specializes in Maximo and Hexagon systems, has expanded through acquisitions, aiming to be software-agnostic. Morrow emphasizes the importance of foundational data and best practices in asset management, noting that many companies fail to realize the promised value from their EAM systems. He highlights the need for collaboration and innovation, advocating for maintenance and reliability professionals to lead digital transformation projects. Morrow can be contacted via TRM's website or LinkedIn.

Outline

Introduction and Welcome to Industrial Talk Podcast

• Scott introduces the 33rd annual SMRP event in Fort Worth, Texas, emphasizing its importance for asset management, reliability, and maintenance professionals.
• Scott introduces Peter Morrow from TRM, who will discuss reliability and asset management.
• Peter and Scott exchange greetings and discuss the quick setup of the conversation.

Background on Peter Morrow and TRM

• Scott asks Peter Morrow to provide a background on himself and his role at TRM.
• Peter Morrow explains his role as the Chief Revenue Officer at TRM, focusing on sales and marketing.
• Peter shares his 15-year tenure at TRM, starting in sales and progressing to sales management.
• Peter discusses the acquisition of TRM by a private equity firm, 424, and its impact on expanding their scope and capabilities.

TRM's Expansion and Acquisitions

• Peter explains the rationale behind the private equity investment, emphasizing the need to solve complex problems in asset management.
• TRM's acquisition of IDCON and other Maximo organizations is highlighted as part of their growth strategy.
• Peter mentions their ambition to be software-agnostic, specializing in leading EAM systems like Maximo and Hexagon.
• Scott and Peter discuss the deployment of various enterprise asset management solutions, including Hexagon and Maximo.

Challenges and Opportunities in Asset Management

• Peter discusses the challenges of being a niche player in asset management and the need to expand beyond Maximo.
• The importance of being recognized for strengths across different technology products is emphasized.
• Peter explains the role of TRM in deploying and optimizing EAM systems, addressing the common frustration of not getting the promised value from these systems.
• The conversation touches on the need for foundational data and standards in asset management to leverage advanced analytics and AI.

The Role of EAM in Digital Transformation

• Peter highlights the disconnect between operational IT, plant engineering, and maintenance staff in digital transformation projects.
• The importance of EAM leaders in driving these projects and the challenges they face is discussed.
• Peter emphasizes the need for maintenance and reliability professionals to get the budget they need to make changes.
• The conversation concludes with a discussion on the importance of education, collaboration, and innovation in asset management.

Conclusion and Contact Information

• Scott and Peter discuss the importance of telling one's story and the role of Industrial Talk in promoting industry professionals.
• Peter provides contact information for TRM, including their website and LinkedIn profile.
• The conversation ends with a reminder of the