Waylay offers productized use case templates for the processing industry to kickstart the creation of new business flows and experiment with ideas to generate new revenue.
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The Must-Have Technology for the Energy Sector
With the capability of integrating data from different systems and processes, hyperautomation provides new valuable insights that can be used to better energy production and distribution, improve overall grid management and reduce the overall environmental impact in the energy sector. Hyperautomation helps oil & gas, utility and virtual power plant companies to quickly and effectively respond to changing market conditions and demands, such as increasing the use of renewable energy sources and the need to comply with regulatory requirements.
Powering New Value: What’s Enabled with Hyperautomation
With its powerful AI automation and analytics capabilities, Waylay’s hyperautomation platforms provides companies of any size in the energy sector with a technology-driven approach to streamlining operations, increasing efficiency and productivity, and enhancing reliability, sustainability and decision-making with our data orchestration solution that automates and integrates multiple processes and tasks using IoT, IT and cloud data in the most flexible way.
Waylay’s Enterprise and Digital Twin platforms can be applied to automate and optimize various processes in field operations, including:
Fraudulent Credit Card Transaction Prevention
With the extensive use of e-commerce, credit card fraud has become a major issue that every bank, payment processing platform, and web-shop is facing. Big loss in business is not only related to fraudulent transactions, but also in denying legitimate transactions (false positives), which are deemed to be fraudulent leading to additional loss in revenues, high levels of customer dissatisfaction, and on occasion posing a risk to customers traveling across states and internationally.
Coping with Legacy Systems
Conventional fraud detection approach is setting up rules which are executed against every transaction. These rules are “hand crafted” — it often takes an enormous amount of time and expertise to configure and tweak them. They are meant to find fraudulent activities and patterns based on historical records and expert knowledge, but they are often hard to change. Which means it’s very hard to keep up with new patterns, should those arise . Still, they are easy to verify and interpret and have been used and deployed over decades. In addition, these rules are often implemented as database stored procedures, making them applicable only to offline/bulk processing use cases.
Fraud Detection with Machine Learning
As fraud patterns are changing rapidly, new fraud detection methods are needed — moving from a reactive to a proactive approach. In this regard, implementation of efficient fraud detection algorithms using machine learning techniques is a rather straightforward idea. Such an approach enables a system to adapt to new, unknown fraud patterns in real time. Machine learning models are also often hard to interpret. Even for trivial decisions, looking at the confidence score doesn’t yield to anything obvious. Moreover, all ML techniques result in a confidence score, where at the end of a day, someone needs to put a threshold on whether a transaction should be let through or not.
Introducing a painless digital transformation and a Citizen Developer solution to IT-OT unification. Enterprises now only need one single tool for automation, analysis, full visibility, and optimization of their processing flows and equipment. From day-to-day operations management and semi-finished products operational inline analysis to equipment maintenance, but also what-if scenarios in manufacturing to yield increase: Waylay covers all needs in processing industries.
Waylay’s offering is packed with ready-to-use blocks, yet fully open to extend and innovate in all processing industries such as oil & gas, pharma, steel production, energy & power generation, chemical & refining, food & beverage.
System integrators in the processing industries experience huge variations in the use cases between different verticals when providing IT/OT solutions to their end customers. Waylay’s low code environment, combined with the high level of abstraction, tremendously speeds up delivery cycles, by benefiting from a templated approach for different industries and assets, and the concept of reusable soft sensors.
Equipment manufacturers can offer outcome-based service contracts that rely on access to digital twin data and enable a service-oriented business model based on servitization of equipment with preventive and predictive maintenance to reduce support calls, avoid truck rolls and boost the efficiency of their field service organization.
Waylay has bundled its experience from working with enterprise customers in processing industries to offer proven solutions at greatly reduced risk and cost that others can only promise in slide decks.
Whether it's automating manual tasks, improving network management and monitoring, or ensuring compliance with regulations, the intuitive interfaces and scalable workflows in Walay’s platforms make it easy to use and easy to implement.
Create powerful data automations with advanced rule logic modeling in no-time via our drag-and-drop plugins, sensors and templates. Waylay’s all-in-one, low-code solution taps into your existing software and hardware systems to unify your OT-IT and streamline your digital transformation with little to no effort.
Explore Enterprise
Waylay’s no-code automation solution empowers Salesforce and ServiceNow users with real-time asset monitoring—creating significant efficiency gains and quickly identifying IoT asset issues— by bridging the gap between connected assets and boosting visibility data, health and performance metrics.
Explore Digital Twin
Whether it's the need to reduce errors and inconsistencies, to improve compliance and regulatory adherence, or to better data accuracy and integrity, Waylay’s hyperautomation platforms make it easy to use and easy to address industry challenges.
With Waylay cloud-native solutions, you can maximize the use of AI and machine learning, enabling increased agility. Waylay’s automation technology has been designed to combine the best of two worlds. On one hand, Waylay can easily add many predefined filtering criteria and rules, which enables easy addition of multiple sources of information that are carried in every transaction, including information about the user, merchant, transaction amount and type, while delegating most demanding and complex transactions intelligently to suites of different ML models. These solutions can be then applied both in real time and bulk use case scenarios, taking your critical decision systems to the next level, yielding substantially higher levels of agility, depth, and speed needed to compete successfully for customers. This helps customers to increase speed and reduce risk when offering auto loans, mortgages, and credit cards. These new capabilities will also help them compete more effectively in newer areas such as buy-now, pay-later loans. In the end, the right approach to managing data in cloud-native decision systems has the potential to help companies bring new value to customers, market new products, and ultimately increase revenue.
Create powerful data automations with advanced rule logic modeling in no-time via our drag-and-drop plugins, sensors and templates. Waylay’s all-in-one, low-code solution taps into your existing software and hardware systems to unify your OT-IT and streamline your digital transformation with little to no effort.
Explore EnterpriseWaylay’s edge automation solution can help banks and financial institutions operate more efficiently, enhance security, and deliver a better customer experience while reducing costs with its superior automation experience to create your own automaton scenarios on a Raspberry PI or run everything locally on a PC or laptop.
Explore EdgeBuilt on cloud, RovingEye comes out-of-the- box with AI algorithms and rulesets that gives any organization an edge combating fraud. The AI-based hyperautomated solution is equipped with big data processing capabilities with the latest security and access control measures to provide scale and resiliency for handling millions of transactions a day.
Upstream, midstream and downstream all need hyperautomation to optimize production efficiencies, reduce costs, enhance safety, and improve operations. It automates repetitive tasks, reduces labor costs, improves operational efficiency and minimizes downtime. Click below to download a solution brief on managing smart energy.
A must-have in wind, solar and electric power is hyperautomation to provide real-time asset monitoring, prediction and prevention of equipment failures, which enables faster response times, optimizes consumption, improves safety, reduces costs and improves the overall sustainability of infrastructures. Watch this video to learn how to leverage connected asset performance data.
Hyperautomation helps to resolve the growing operational concerns of VPPs by integrating data from intelligent systems and smart processes, providing valuable insights into energy production and distribution and help to optimize the distribution of energy while reducing operational issues of scalability and more. Download this use case to learn why service management is critical to VPPs.
Schedule a Demo Today
See firsthand how Waylay’s pioneering data orchestration platform can easily and quickly resolve your digital transformation needs and challenges. Submit your information below and we’ll connect you with one of our automation experts to set a demo time.
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With the extensive use of e-commerce, credit card fraud has become a major issue that every bank, payment processing platform or web-shop site is facing. Big loss in business is not only related to fraudulent transactions, but also in denying legit transactions, which are deemed to be fraudulent leading to loss in revenues, high levels of customer traveling and more.
Today, the competition in the financial services landscape is growing rapidly with entry from the non-banks. Small fintech companies are nibbling away at large financial institutions’ market share for their products and services. The major value proposition from fintech is top of the line end-to-end customer experience.
As companies adopt technology to streamline operations and enhance customer experiences, the threat of cyber attacks looms large. This is where hyperautomation comes into play, addressing these challenges head-on. By automating complex and repetitive tasks, hyperautomation helps to stay ahead of the curve, detecting and mitigating cyber threats in real-time
Schedule a Demo Today
See firsthand how Waylay’s pioneering data orchestration platform can easily and quickly resolve your digital transformation needs and challenges. Submit your information below and we’ll connect you with one of our automation experts to set a demo time.
Schedule a Demo Today
See firsthand how Waylay’s pioneering data orchestration platform can easily and quickly resolve your digital transformation needs and challenges. Submit your information below and we’ll connect you with one of our automation experts to set a demo time.
By submitting, you agree with Waylay’s Privacy Policy.
Plan your demo
Dispatching maintenance engineers based on recurring time-based maintenance schedules is more efficient with IoT enabled assets. With Waylay you are able to assess when equipment needs maintenance, when it’s not functioning at its best efficiency point and when certain parts need replacement. Waylay can create rules that validate the IoT telemetry against asset type-specific or plant-specific acceptance thresholds. If the asset is consistently running outside the acceptable ranges, a maintenance intervention can be expedited. When Waylay has generated various ‘Production Failure Alarms’ for an asset in the last few days, then Salesforce Service Cloud et al. can prioritize the work schedules for the Engineers.
Digitalising upstream Oil & Gas requires ensuring the safe operation of equipment of temperature and hydraulic pressure. Waylay detects well flow patterns to assess the performance of all assets and of the well itself. Users see failures and alarms in real-time on well flow data dashboards and ML algorithms are used for recalibration and validation of the assets.
Use Waylay for:
Ensuring safe operation of valves in the processing industries to maintain a constant throughput of the resource. By monitoring valves to identify cavitation, sticky valves or valve seat leakage based on customized parameters and Machine Learning. The Waylay Platform can provide better insights and offer automated asset provisioning, valve failure detection, predict bearing failures and optimize asset maintenance. All while being able to share your rules, results and alarms with your customers via a customer facing dashboard.
Monitor your valuable machines, buildings or assets to predict when certain parts should be maintained or interchanged. Yet for many companies in manufacturing, there is still a gap on predictive and preventive maintenance, and managing the maintenance of machines and equipment asks for a disruptive move. Using Waylay's powerful rules engine to monitor the data coming from these resources, businesses stay ahead of the competition by providing a sublime maintenance service, mitigating asset failure risk and avoiding unexpected production stops. Knowing what part will fail reduces wasted time for both clients and the repair crew.
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