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Many industrial companies, however, still rely on outdated Original Equipment Manufacturer (OEM) systems to remotely monitor the assets they service, if they use remote monitoring at all. In the sectors we support, we continue to see service partners follow calendar-based equipment reviews that are independent of actual wear and tear. For example, gensets and compressors usually require service after a period of run hours has elapsed, say 500 hours. Many users only do preventive maintenance on a quarterly or annual basis even though the schedules on which they run their equipment varies widely.
We’ve also found that it costs more for OEMs to update their underlying technology to capture richer data than it does for service providers to take matters into their own hands.
Often, OEMs use system software code that hasn’t kept pace with the world of technology. They have fallen behind Moore’s Law with respect to agility and cost-effectiveness. At the same time, PLC and RTU systems in SCADA schemas have been around for decades, but they can’t relay large data volumes securely, quickly, and with high-resolution.
Those who want to maximize productivity in the equipment servicing world must take advantage of new technology, including sensors, gateways, edge software, networks, and the cloud. With these innovations, operators can build smart monitoring systems that evolve with them over time. They can track essential assets more easily and provide better services to clients.
So what does this mean for thousands of mid-market service companies and contractors?
These mid-market companies have the benefit of flexibility and the capabilities needed to thrive in today’s increasingly competitive world. As the labor market gets tighter, being able to grow and serve many accounts simultaneously will become increasingly important.
Service companies need more data to scale remote monitoring solutions without waiting for OEMs. Consequently, many are turning to experts, like WellAware, that can provide bolt-on monitoring devices that integrate with any industrial equipment in minutes.
WellAware works with many different types of service providers, manufacturers, and maintenance operators. We enable companies to quickly establish remote monitoring systems without adding complexity to their operations. In most cases, WellAware remote monitoring solutions are cheaper, faster, and more reliable than what OEMs can provide.
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For example, we currently work with a regional service business that distributes and services air compressors. The leadership team at this company decided to take control of remote equipment monitoring rather than go through their OEM partner. So, they engaged with WellAware to define what digital success looked like for them, and then get it done.
Using our technology, the company has gained deeper insights into the performance and integrity of critical infrastructure that they service. They have installed low-cost devices on every compressor at their clients’ sites.
Now, they receive high-quality data about equipment performance on demand. They can share on demand performance reports directly with customers that are much more informative than those generated by OEM systems.
On the economic side, our client realizes several forms of cost savings. They can anticipate equipment failures and required service events, thereby reducing downtimes and ongoing maintenance costs dramatically. Based on these measures alone, our client recouped their original investment after only four months.
Beyond just the cost savings, the partnership has enabled the service provider to now start offering premium services to their customers. They have established a digital services business unit, providing a smart monitoring program as a premium package to their customers. The company passes on annual cost savings they realize from using WellAware in the form of a price break for end users.
The bottom line: They provide better service at a lower cost, powered by WellAware.
Outside of the above use case, we’ve also seen customers use WellAware sensors and network data to enhance their supply chain management. Operators use the intelligence they receive to optimize just-in-time delivery, inventory, and staffing.
By digitizing hundreds or thousands of physical assets, industrial companies and service providers can make better decisions around crucial business processes. Additionally, operators can customize data reports to individual stakeholders.
In the same way that Netflix allows different users to have a unique, on-demand content experience, WellAware empowers service providers to access and share specific and applicable data views by asset. As a result, field intelligence is distributed as needed to facilitate workflows and decision-making by role.
Remote equipment servicing is taking a big step forward in 2020. We now have the sensor and network technology to enable large-scale IIoT deployments, which are especially valuable for equipment service providers.
Companies can reduce costs and increase uptime easily with distributed smart devices, thus breaking free of inflexible and outdated OEM reports.
To learn more about how WellAware works with manufacturers, maintenance providers, and operators, contact us today.