Versify’s Transmission Outage Application Saves Significant Operations and Maintenance Costs
FOR IMMEDIATE RELEASE: 8/9/2017, 9:30am
Versify Solutions, Inc.
(484) 845- 7000
Versify’s Transmission Outage Application Saves Significant Operations and Maintenance Costs
Versify adds transmission outage management capabilities to its software portfolio. Transmission Outage Management includes transmission tickets, approvals, workflows, outage dashboards, reliability coordinator (RC) submissions, switching orders and NERC regulatory reporting (TADS).
GLEN MILLS, Pennsylvania: Versify Solutions Inc., announced today the release of their highly anticipated Transmission Outage Management application. The Versify Outage Management software suite provides a workflow enabled, unified platform to manage all phases of an outage across the enterprise. The Transmission Outage Management System connects scheduling, operations and field personnel to maximize the coordination of critical infrastructure assets.
When asked about the new application release, Versify CTO Dave Ippolito, said “We are excited to expand our OMS platform and workflow engine to Transmission Outage Management. This allows our customers to leverage a single OMS platform to implement clear, consistent, best practices across both Generation and Transmission business lines.”
Versify’s Transmission Outage Management System provides visibility across business lines and automates the complex process of planning, approving, scheduling, submitting, switching and reporting transmission outages. The Versify outage management software is an integrated workflow application managing the complex end-to end outage management and outage coordination process. Transmission Outage Management features outage dashboards and reporting as well as NERC reporting (TADS). Advanced workflow capabilities enable clients to coordinate with business stakeholders, Transmission Operators (ISO/RTOs) and Reliability Coordinators (RCs).
Workflow business process automation not only reduces O&M costs, but also eliminates redundant software costs. Companies achieve significant O&M savings by reducing the frequency and duration of outages, improving reliability and safety metrics, and facilitating continual process improvements throughout operations. Ultimately, TOMS improves reliability and safety metrics, reducing both frequency and duration of outages.
Versify Solutions, Inc. (www.versify.com) is a pioneer and leading provider of advanced enterprise situational awareness solutions for the electric power industry. Versify’s application suite is a first-to-market software-as-a-service (“SaaS”) platform that uniquely addresses major challenges faced by companies involved in the generation, transmission, and sale of electric power. Renewable energy operators, utilities and merchant power producers alike, leverage the company’s solutions to enable key digital transformation initiatives aimed at increasing revenue, reducing costs, mitigating compliance risks, and operating critical infrastructure assets more efficiently. Versify’s Outage Management System provides Generation Outage Management software, Transmission Outage Management software, NERC GADS/TADS reporting and is workflow enabled. Versify’s Portal provides Asset Management software, Operator Logs, NERC Compliance software and is workflow enabled
Announcing Versify’s Latest Release of its Generation Outage Management Application
FOR IMMEDIATE RELEASE: 3/8/2017, 9:30am
Versify Solutions, Inc.
(484) 845- 7000
Announcing Versify’s Latest Release of its Generation Outage Management Application
With the release of 6.0, Versify’s Outage Management System (OMS) suite responds to customer demands for outage coordination, advanced workflow, and enhanced reporting capabilities to improve communications and coordination throughout the organization.
GLEN MILLS, Pennsylvania: On July 31st Versify Solutions Inc., unveiled its latest version of the Generation Outage Management System application, a key component of the Outage Management Software Suite. The Generation Outage Management System is a single platform to manage all phases of a generation asset’s outage, outage coordination, and handles all types of generation technologies including wind, solar, storage and fossil resources. Versify’s Generation Outage Management software facilitates the complex process of planning, scheduling, approving, submitting and reporting generation outages across the enterprise.
New features include advanced workflow engine approvals and routing capabilities, a real-time outage dashboard for real-time operators, an outage calendar to easily view outages in daily, weekly, and monthly formats, support for maintaining and reporting on NERC Wind GADS, a new recurring outage feature. The release also includes automated interfaces and workflows for exchanging outage information with the market operators (ISO/RTO) and reliability coordinators across the United States.
This launch was driven by customer demand to reduce risk for field personnel, eliminate redundant software costs, and gain additional visibility across business lines. Versify’s Outage Management suite improves commercial performance by reducing the likelihood of offering capacities into the market that cannot be delivered due to rescheduled or extended outages resulting from inadequate coordination and planning. It also provides significant O&M savings by reducing the frequency and duration of outages, improving reliability and safety metrics and facilitating continual process improvements throughout operations.
The Versify OMS is an integrated workflow application managing the complex end-to end outage management and outage coordination process for generation assets. By providing transparency to the commercial team, asset management team, and plant operations teams, OMS reduces lost market opportunities and assists in identifying the best times for performing asset maintenance. OMS Integrates with your work management systems to prioritize field force activities and reduce administrative burden on field crews.
Versify Solutions, Inc. (www.versify.com) is a pioneer and leading provider of advanced enterprise situational awareness solutions for the electric power industry. Versify’s application suite is a first-to-market software-as-a-service (“SaaS”) platform that uniquely addresses major challenges faced by companies involved in the generation, transmission, and sale of electric power. Renewable energy operators, utilities and merchant power producers alike, leverage the Company’s solutions to enable key digital transformation initiatives aimed at increasing revenue, reducing costs, mitigating compliance risks, and operating critical infrastructure assets more efficiently. Versify’s Outage Management System provides Generation Outage Management software, Transmission Outage Management software, NERC GADS/TADS reporting and is workflow enabled. Versify’s Portal provides Asset Management software, Operator Logs, NERC Compliance software and is workflow enabled.
Jeff Greenwell joins Versify as Vice President, Business Development
GLEN MILLS, Pennsylvania - February 15, 2018 - Versify Solutions today announced that Jeff Greenwell will be joining Versify in a newly created position, as a vice president and member of our executive team, reporting to CEO Mark Rossi. Greenwell will have oversight of the strategic business development, expansion and sales operations across North America.
“I am thrilled that Jeff is joining our team,” said Rossi. “He shares our values and our focus on innovation, and he places the same strong emphasis as we do on the customer experience. Jeff has shown himself to be an extraordinary leader throughout his career and has a proven track record.”
Jeff has worked with the world’s leading utilities for over 30 years. As a well-known figure in the industry, he has served in leadership positions in both sales and business development. Jeff delivered grid management and distribution efficiency platforms at Itron for more than 20 years, where he was instrumental in the growth of the company. Throughout his career, he has focused on delivery of critical enterprise-wide business solutions for his clients.
“Jeff has a proven record of facilitating long term business relationships with customers and industry leaders,” Rossi continued. “His strong winning attitude and personality are assets that will complement and enhance Versify's ability to meet the needs of our customers as we continue to provide innovative products to the marketplace.”
About Versify
Versify Solutions, Inc. (www.versify.com) is a leading provider of advanced enterprise situational awareness solutions for the electric power industry. Versify’s application suite is a first-to-market software-as-a-service (“SaaS”) platform that uniquely addresses major challenges faced by companies involved in the generation, transmission, and sale of electric power. Renewable energy operators, utilities and merchant power producers alike, leverage the Company’s solutions to enable key digital transformation initiatives aimed at increasing revenue, reducing costs, mitigating compliance risks, and operating critical infrastructure assets more efficiently. Versify’s OMS™ Outage Management System provides Generation Outage Management software, Transmission Outage Management software, NERC GADS/TADS reporting and is workflow enabled. Versify’s PORTAL™ provides Asset Management software, Operator Logs, NERC Compliance software and is workflow enabled. For more information, please visit https://www.versify.com/
Proper NERC Compliance Management is Essential for Your Business
NERC’s CIP standards are the plumb line for all electric and energy companies. Adhering to and complying with the rules and regulations of this body are non-negotiable requirements of doing business in the world of the bulk electric system. And compliance management is certainly not simple enough. The various factors involved include: security, procedures, protocol, documentation, and more. Since the passing of the Federal Power Act, NERC compliance is now mandatory within the United States. These compliance standards have been set in place in order to guarantee the reliability and the security of the electric grid for the American people. There are many regulations to follow, but with proper compliance management, your business should have no problem staying compliant and secure.
NERC Compliance Management
There are 9 different sections of NERC compliance regulations. These sections relate to different mandatory standards in a variety of areas. Though compliance may seem like a hassle or a burden, NERC standards were created with the safety and security of everyone in mind. In our modern age, in which most of our information processes and data storage are digital, cyber security is of utmost importance. Investing in the security of your company is always worthwhile. Though no one can opt out of NERC compliance, it is certainly in your best interest to comply. Rather than see these rules as unnecessary and frustrating, Versify has made it our mission to help you see them as an opportunity to modernize, organize, and invest in your company.
Finding the Right Asset Optimization Software
Power utility companies are up against a constant struggle to maintain profitability within today’s energy industry, in addition to the challenges of reliability and regulatory compliance. As the Bulk Electric System (BES) in North America incorporates a variety of renewable energy sources, new technologies, and various security and reliability standards, it is more important than ever for generation facilities to consider what steps toward asset optimization can be made within their operations.
Answering the Question, “How Do I Prepare for a NERC Audit?”
When you get the call that a North American Electric Reliability Corporation (NERC) Critical Infrastructure Protection (CIP) audit is scheduled for your company, that news can seem daunting. As you ask yourself, “How do I prepare for a NERC audit, turn to Versify Solutions for all the answers you need.
Discover What Software Helps Manage NERC Compliance
As internal and external dangers to bulk electric systems give electric utility companies cause for concern, becoming compliant with security regulations is more important than ever. Standards created by the North American Electric Reliability Corporation (NERC), approved by the Federal Energy Regulatory Commission (FERC), mandate that all companies within the power utility industry abide by NERC’s Security and Reliability Standards. If you are managing an organization that operates in any aspect of generation, transmission, or distribution of energy, you need to know what software helps manage NERC compliance in order to avoid the fines and hazards that may result from failing to meet these standards.
A Software for NERC CIP Compliance
The Importance of NERC CIP Compliance
Many companies associated with the power industry in the U.S. understand how critical it is to ensure NERC CIP compliance within their daily processes. NERC is serious about their standards being met, and runs audits on an average three year cycle to ensure companies are adhering to all associated rules and regulations. This is for the overall smooth function of the Bulk Electric System. Companies that do not take the responsibilities of compliance seriously are subject to fines, some of which can reach up to a million dollars a day.
How Do I Stay NERC Compliant? We Have the Answer!
With new NERC regulation changes, many are wondering “How do I stay NERC compliant?” NERC’s policies are mandatory and always evolving, making compliance more and more difficult. Audits, investigations, and reporting are the methods through which compliance is enforced and meeting current regulatory standards is simply not an option unless companies want to face massive fines. Many businesses want to know how to stay NERC compliant in order to remain secure, up to date, and avoid fines or penalties. But with more than 90 standards and hundreds of requirements, staying NERC compliant is no small task.
The Challenge: Staying NERC Compliant
NERC standards are complex and there are high consequences for non-compliance. These requirements are ever-evolving and companies are required to stay up to date with any new changes or policies. The amount of information and data that is required to stay on top of things is monumental. Some of the many challenges faced by energy companies include:
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wasted resources
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manual errors
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limited transparency
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highly involved documentation
These areas all impact compliance and any BES participant found violating NERC standards risks being fined up to $1 million per day per violation. Though NERC is the entity that has been charged with developing and enforcing these standards in order to monitor the bulk power system, the responsibility to stay compliant falls on the shoulder of every company involved in the energy industry.
Why You Should Stay Informed About NERC 693 Updates
Every registered entity working in or with the bulk power system in the United States, Canada and northern parts of Mexico should stay informed about NERC and specific NERC updates such as NERC 693 updates. NERC or North American Energy Reliability Corporation and FERC or Federal Energy Regulatory Commission have tons of guidelines and protocols that every entity has to abide by and these standards are well laid out and publicised.
The Most Comprehensive Approach to NERC Standards Adherence
Are you searching for the most effective tool to aid you in adhering to NERC standards? Regulations for the Bulk Electric System in the United States are strictly enforced by The North American Electric Reliability Corporation (NERC). The standards this organization releases are to be strictly adhered to by every associated company. These standards are enforced through regularly scheduled audits, during which NERC representatives will thoroughly investigate every practice and area of a company to determine whether or not that company is meeting its rules and regulations. Those companies that do not properly uphold all required NERC standards may be subject to large fines. These fines can sometimes reach upwards of a million dollars per day per penalty.
The Importance of Regulating Nevada Energy
In 2012, Nevada residential, commercial, industrial and transportation customers consumed 35,180 million kilowatt-hours. Regulating Nevada energy is done by NERC, WECC and the state Public Utilities Commission.
There are two separate Nevada energy grids One services the Las Vegas metro with grid connection to Arizona, southern California and southern Utah. The other supplies the northern part of the state with connections to northern Utah and northern California.
Real-Time Margin Analysis for Precision Decision Making
Generation assets need to be managed and analyzed to ensure your business interests are financially optimized. V-Performance from Versify Solutions delivers a powerful real-time margin analysis solution to ensure your assets are always protected and thriving.
3 Steps Toward Enhancing Electrical System Reliability
As the power utility industry moves forward with numerous changes and advancements in technology, it is also faced with a series of new dilemmas to overcome. For example, how do generation companies reconcile the increasing diversity of resources in their portfolio, such as wind and solar, with the overarching need for profitability and efficiency, which depends largely on a relative predictability of generation outputs? Compound this problem with the increasingly detailed reliability standards, and your company is suddenly aware of how delicate a balance it needs to maintain in order to compete in the current energy economy.
Innovative Software for Your NERC Compliance Manager
In the current regulatory climate within the power utility industry, security and reliability is at the heart of the ever changing standards by which energy providers must abide. All major stakeholders, from the energy companies all the way to each customer and household powered by the grid, depends on the vigilance of utility personnel throughout the bulk electric system. To ensure energy security, the Federal Energy Regulatory Commission (FERC) is implementing the standards set forth by the North American Electric Reliability Corporation (NERC), requiring compliance with best practices in every aspect of generation, transmission, and distribution of electricity.
The Importance of CAISO Outage Management
Tracking and monitoring outage management is a key component of California ISO (CAISO) Operating Procedures. CAISO Operating Procedures 3200 details the proper procedures and coordination of scheduled maintenance, repair and construction of new facilities, generating units and interconnections.
Asking Yourself, “How Do I Demonstrate Internal Controls?” We Have The Solution
With over 90 NERC standards set in place for the energy industry, many companies are wondering, “How do I demonstrate internal controls?” NERC compliance requirements have been set in order to increase reliability for energy consumers, monitor and enforce safety measures, and tighten security. Since NERC and their regional entities regularly monitor compliance through audits and checks, your company needs to be able to demonstrate internal controls.
How Do I Demonstrate Internal Controls?
There are many steps that businesses can take internally with their own procedures and workflows to help in the process of maintaining compliance. Compliance with NERC standards is not an easy task to accomplish in house, but with the right energy industry specific software, it is possible to demonstrate internal controls. We recommend our Versify's Portal Enterprise as your solution to creating a culture of compliance at your company. Versify's Portal Enterprise offers you the ability to automate the process of managing compliance related standards and solutions. With the option to customize workflows, this comprehensive software can easily be incorporated into your normal mode of operation and can help your company:
· Be aware of current compliance standards and potential threats
· Receive prompts for required actions or responses
· Better handle events
· Retain compliance related data
Integrated Analytics for the the Power Industry
Energy companies today must be able to leverage huge volumes of data to make both strategic and operational decisions, fast. Your data analytics capabilities should support your ability to make these types of decisions by providing real-time data and analysis on current generation performance, weather, market prices, regulatory requirements and other key factors.
3 Benefits That Energy Industry Data Analysis Tools Provide
The energy trading market is dynamic. Market indicators change by the minute. Capacity and demand are constantly shifting. To keep your energy industry entity competitive, you need complex and comprehensive energy industry data analysis tools.
5 Must Haves for Your Power Industry Reporting Software Application
When searching for a power industry reporting software application there are a plethora of things to consider. Let’s look at some of the big issues for power industry reporting software application research.