Fiix Debuts World’s First AI for Work Order Performance

Toronto, Canada— Oct 27, 2020— Cementing its position as an industry trailblazer, Fiix has launched a new addition to its game-changing AI platform, Fiix Foresight.

The new solution— called work order insights— is an industry first, and uses AI to automatically analyze 1000s of maintenance work orders to make it easier than ever for maintenance and asset management professionals to get insights from work order data.

The announcement comes just three months after the maintenance management platform provider launched Fiix Foresight and parts forecaster, the only AI-driven parts and inventory management solution on the market.

Work order insights runs in the background of Fiix’s CMMS, which means customers can use the software like normal while the AI uses an array of machine learning algorithms to automatically comb through 1000s of work orders to surface insights and pinpoint problem areas to drill into. Customers can opt to received a daily or weekly report identifying problematic work orders, and this detailed analysis helps maintenance teams predict asset failure and reduce downtime, optimize maintenance processes across teams, eliminate waste and rework, and find efficiencies across the board.

“To be able to look into our data instead of just keeping track of work orders is really exciting for us. We can start seeing things we have never seen in the past, like patterns of failures. And instead of just fixing the issues and moving on, we can now ask ‘why are those issues happening’? To identify that is hugely important,” says Fiix customer Jose Yorba, US Asset Management in the Fire Safety Group at Perimeter Solutions.

“We’re beyond excited to bring such a game-changing technology to market. Most predictive solutions focus exclusively on asset health by using sensor data to determine asset operating condition. But this is only one piece of the puzzle. Downtime is deeply influenced by the work being done on equipment which is why we’re using AI to supercharge work orders and connect maintenance teams to the full array of data they need to cut downtime and improve asset performance,” says James Novak, CEO of Fiix.

Work orders represent a significant resource in terms of data and insights but it can be difficult for maintenance teams to manually analyze work orders due to the volume and variability of the data. Through AI, Fiix’s work order insights solution can look at all that information and understand what’s normal for a specific team and use that to flag anything out of the ordinary, replacing hours of manual work order analysis with one simple report.

Early beta customers are already seeing huge improvements from the work order insights report, notably:

  • 80% decrease in asset downtime by identifying where maintenance routines aren’t working or where routines aren’t being adhered to, causing assets to fail needlessly.
  • 33% decrease in maintenance costs by identifying where maintenance work is not being executed correctly, where there is excess waste in maintenance processes, and where excess re-work is happening.
  • 50% increase in asset performance by analyzing all historical work order data in seconds, identifying performance trends affecting asset performance, and extrapolating those for all future work.

“Our goal is to remove the barriers that stop maintenance and operations teams from adopting sophisticated IoT solutions; barriers like time, cost, and effort. Fiix Foresight and our AI solutions are a great example of this in action— by fusing the benefits of industrial AI with our maintenance platform, we’re able to instantly connect customers to a no coding required system purpose-built to help them proactively detect problems, identify opportunities for improvement and make quick, data-based decisions,” says Novak.

Fiix has long been on a mission to build better maintenance teams with easy-to-use, AI-driven maintenance software, an open ecosystem, and pre-built integrations to meet the unique needs of maintenance and operations teams today and in the future. 2020 has been a big year for the Toronto-based software provider, seeing the launch of Fiix Foresight, the first and only AI engine purpose-built for maintenance as well as the company’s app exchange— a vetted network of IoT partners and out-of-the-box connectors. These new additions to Fiix’s platform, alongside its Integration Hub, make Fiix the most comprehensive and extendable maintenance solution on the market.

Want to learn more about work order insights, powered by Fiix Foresight? Contact us at info@edms-consultants.com or call us at +603 7831 9660.

Source: https://www.fiixsoftware.com/news/fiix-debuts-worlds-first-ai-for-work-order-performance/

Fiix Launches the First and Only AI Engine for Maintenance

Fiix, a Toronto-based asset management software provider, today announced the launch of Fiix Foresight, the first and only AI engine for maintenance.

Foresight fuses the benefits of industrial AI— data capture, pattern detection, analysis, and real-time insights— with Fiix’s market-leading maintenance platform into an easy-to-use, no coding required system purpose-built to help maintenance teams proactively detect problems, identify opportunities for improvement and make quick, data-based decisions.

“Industry 4.0 technology like software, sensors, and mobile apps are generating piles of data, which has only increased over the past few months as COVID-19 accelerates digitization across the board. But the companies that are going to thrive now are those that can put that data to work and Fiix is answering that call,” says James Novak, CEO of Fiix.

The launch follows an incredibly strong June for Fiix, with the company seeing significant momentum both in customer and revenue growth as maintenance teams globally look to modernize their operations.

Foresight represents the next step in Fiix’s mission to transform the MRO market by connecting tens of thousands of organizations, millions of assets, and an ecosystem of solution providers. It follows the introduction of Fiix’s Integration Hub and acquisition of industrial asset intelligence company Alchemy IoT in Q3 of 2019.

The first feature released on Fiix Foresight is the parts forecaster, an easy solution for manufacturers struggling to balance storerooms. It works by analyzing historical data in Fiix to predict parts needs, eliminate stockouts, and reduce the amount of working capital tied up in the storeroom.

Early beta customers using the parts forecaster are seeing a 50% increase in parts forecasting accuracy and up to 40% reduction in stockouts. Additionally, some customers have seen a 50% reduction in working capital reserved for parts— a significant number for manufacturers who, on average, keep $3-5 million in MRO parts on hand at a time. These cost-savings represent a leg up for manufacturers in a post-COVID world where any expense will be under scrutiny.

“We’re working on several different projects right now aimed at right-sizing our maintenance and right-sizing our storerooms. To do this, we’ve integrated Fiix with Majik Systems and are now integrating Fiix with our SAP. We’re really excited to get rolling with the new parts forecaster tool this year. There are going to be many benefits for us including reducing our carry costs – this could be huge for us globally,” says Tony Leombruno, CMRP, Corporate TPM Champion.

“The Fiix AI team is working on some pretty incredible stuff! And the more it runs, the better it will become at forecasting for us. This speaks to the convenience and ease of use of the Fiix system,” he says.

Parts forecaster is just the beginning for the Fiix AI engine, which will ultimately help industrial organizations coordinate and understand their people, parts, and assets and make proactive decisions that yield real business results.

“This isn’t AI for the sake of AI. In developing this solution we’ve been hyper-focused on solving big problems for our customers. The best part is that Foresight makes the Fiix solution smarter and more powerful without adding any complexity for the end-user— they just see the results,” says Novak.

Source: https://www.fiixsoftware.com/news/fiix-launches-fiix-foresight-ai-engine-for-maintenance/