Parallel Group Global: Scalable Asset Management Solutions

Located in the thriving technology hub of Southeast Asia, Singapore, Parallel Group Global, an emerging technology startup, is aiding enterprises big and small to significantly increase project efficiency by streamlining the asset compliance and certification processes. Ben Cash, founder and managing director of the two-year-old firm, explains, “Our mission is to become a world leader in the supply, execution, and management of asset integrity, completion certification, and maintenance management software.” In line with this and maintaining alignment with their objective, Parallel has developed a suite of flexible software solutions, comprising fully integrated project and asset completion platforms that help organizations across their entire asset lifecycle—from conception, through construction and commissioning phases, to operations and maintenance, and even decommissioning. The four prime software platforms, namely Parallel Completions, Parallel Plant, Parallel Integrity, and Parallel Shut are designed keeping the user in mind. The platforms gather the data and then use algorithms and logic to understand the best way to improve efficiency while assisting the teams on site to execute and deliver. “Parallel has been founded on the premise that all of the existing challenges in the asset management sector such as tracking, maintaining, and reporting on project and asset conditions can be addressed and tackled using innovative technological solutions,” reveals Cash.

The salient features of Parallel’s asset management platforms include complete management of individual assets/equipment, full system and sub-system design and management, certification and handover dossiers, performance standard and integrated quality management, asset level certification, and regulatory compliance.

“These aspects enable our platforms to demonstrate compliance across multiple locations, disciplines, performance standards, and sectors,” adds Cash. “They also collectively facilitate high-performance asset management.” The company’s Parallel Completions platform has a punch NOI (notification of inspection) function that streamlines all asset inspections, by improving the efficiency of inspection notifications and punch listing by more than 200 percent.

Furthermore, all of Parallel’s asset management platforms are proven enterprise-level technologies. According to Cash, what truly differentiates the company from others in the space is that Parallel’s solutions are custom developed to meet the unique and evolving needs of its clients. The firm aligns its competence and capabilities with the expectations of businesses to create seamless, flexible, end-to-end solutions in the field of completion certification, asset optimization and compliance, and project management consulting. From the beginning of an asset’s life cycle, Parallel provides each client with comprehensive project governance, asset management, and execution teams. These specialized teams, from the outset of a project, help reduce man-hour and subsequently improve performance. “With a strong commitment to quality and deep understanding of asset management, we fully engage with the client from the very beginning of a project till its completion certification,” explains Cash.

Cash believes in four core values: integrity, assurance, innovation, and compliance that are the mainstay of Parallel’s continued success. “It is the fabric of our culture and the framework for how our teams work and the way we treat our clients,” he says. Moving forward, the company has two major plans. One is to enhance Parallel’s existing platforms by implementing AI and cognitive abilities to essentially form a ‘base model’ with client-specific bespoke adaptations. The other goal is to establish long-term partnerships with clients and form new alliances with fellow asset management solution providers. “We aim to work with clients to build a strong foundation, particularly on greenfield assets with our asset management platforms. We believe this will be the key to natural progression over the entire asset development that clients need,” concludes Cash.