This paper discusses implementation of the next generation solution for power system control and monitoring. The new design is based on the use of synchronized sampling technology and multifunctional Intelligent Electronic Designs (IEDs). The advantages of such systems are discussed pointing out new benefits to be gained by different users.. The new solution enables full use of field recorded IED data by various utility groups such as protection engineers, dispatchers, maintenance crews, asset managers, and independent system operators. The deployment strategy and examples of initial steps are presented making reference to the specific on-going project aimed at field deployment of the solution.