For software vendors selling to the capital projects industry, ISO 15926 is a requirement
ISO 15926 solves data interchange problems by creating a universal data standard that’s being adopted by EPCs, equipment suppliers, software vendors, and owner/operators. Data interchange solutions leveraging iRING protocols that are compliant with the ISO 15926 standard can seamlessly transfer information in real time between heterogeneous applications without the need for costly, error-prone data translation. Data can be shared accurately and effortlessly throughout the entire asset lifecycle – from design, construct, handover, and commission to operate, maintain, and eventual decommission – all while retaining its original detail and meaning.
The ISO 15926 standard represents a massive collaboration of the industry’s best and brightest who are establishing a standard that will work for the entire industry. Groups such as the iRING User Group, which includes of some of the biggest software firms in the industry, are designing and releasing production-ready, ISO 15926-compliant software under an open source GPL license. Fiatech has in place a comprehensive agenda and secured broad industry collaboration to address the data interoperability issue and recently published a book titled, ”An Introductory Guide to ISO 15926.” The oil and gas industry is far along the adoption path, and other industries are working to submit their reference models for approval.
How does the software industry benefit?
The longer that the software industry holds onto proprietary data formats, the longer it will take to improve the efficiency of the industry – which in the end means fewer projects, wasted capital, and significant frustration within the capital project ecosystem. Fewer infrastructure projects mean fewer opportunities for the software industry.
Just as the automobile and airline industries have realized through industry standardization of their supply chains decades ago, your markets will expand and new opportunities will emerge from industry-wide adoption of ISO 15926. Consider how the standardization on HTML fueled a massive industry for website development – or how Unix fueled an entire ecosystem of new solutions. With strong adoption of standards-compliant software, we anticipate that our industry will grow and become more efficient and profitable for everyone.
As a software vendor, you can expect to benefit in the following ways:
- Competitive advantage: Software vendors who are early adopters of real-time data interoperability solutions based on iRING will enjoy a unique competitive advantage. As industry momentum grows to solve the interoperability issue, request for proposals will require ISO 15926-compliant data interchange. Leading vendors who are ahead of the curve will be in a unique position to bid on and win projects based on better ROI and lower cost of ownership; this will be a substantial competitive advantage given the cost associated with manual data translation for customers.
- Increased software innovation: Software vendors who adopt native support for ISO 15926 will no longer need to maintain their proprietary data formats or continually build translators to accommodate other systems. They will be able to publish their open format and let other adapt their products to comply with it – and free up more resources to focus on innovating new capabilities that will differentiate their offerings.
- A larger, open market: As the walls of proprietary data formats collapse, new opportunities will arise. Partnerships with complimentary vendors will flourish as open data interoperability removes the barrier to integration. Seamless product integrations will result in new product ideas that will bring greater value to the industry and fresh opportunities for the vendors involved. Mergers and acquisitions will lead to new solutions and more viable companies. And as data integration becomes ubiquitous, there will be opportunities for development of new process integration solutions.