Move from traditional equipment selling to offering Equipment as a Service

Business models shift towards a subscription economy. Instead of purchasing equipment, companies start subscribing to services that provided this equipment and assets and services. Customers want outcomes, not necessarily ownership.

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Challenges of creating Digital Twins in the transition to Industry 4.0

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Put your IIoT data to better operational use

EaaS, finally

Equipment-as-a-Service, EaaS, takes a step beyond traditional service contracts and offers both a different financial model and more effective operations based on SLAs. The EaaS model is provided by the manufacturing company who is responsible for maintenance, service, consumables and spare parts. Even availability and output can be guaranteed. This is where Waylay comes in.

Remote and real-time equipment monitoring

Anomaly and alarm reporting

Preventive & predictive maintenance

SLA validation

Asset condition monitoring, remote diagnostics, SLA validation, conditional & preventive maintenance, alarm management, field service crew optimization and eventually EaaS - Equipment As A Service.

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.

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Applicable Industries

Smart equipment

Waylay for smart equipment and Equipment as a Service

Energy & utilities

Digital service innovation in the energy sector - oil & gas, utilities and VPPs

Move from traditional equipment selling to offering Equipment as a Service

Discover our use cases

Asset usage monitoring to trigger sales opportunities

IoT enabled assets often have contract usage limitations. Meaning that the customer is paying/leasing the asset based on usage. Waylay can create rules that validate the asset’s IoT telemetry against the customer’s contract (in Salesforce).

Example

A connected backup power generator is leased to a customer for a volume of 10,000 machine hours. First, users can define a rule in Waylay Digital Twin, which monitors the daily usage. This rule then generates a Waylay Alarm Record of type ‘Usage Alarm’ when the total accumulated use reaches 90% of the contractual limit. Next, the user can then associate a Salesforce Flow to this event to create an opportunity record for the Sales team to negotiate a contract extension.

Waylay Digital Twin

Smart asset uptime monitoring & service level agreement validation

The uptime statistics of an asset is often a key criterion for service support interventions. With Waylay, users can define smart rules that validate the asset’s IoT telemetry against the customer’s service level agreement.

Example

If the asset is online but generates error messages, users can define a rule in the Waylay platform that creates Waylay Alarms, any type of‘ Asset Error’. Those records can then be analyzed to generate a downtime record that would impact the availibility statistics of the asset. Optimize helpdesk support through remote asset diagnostics. Call center agents initiate asset telemetry diagnosis to produce real-time actionable recommendations on how to solve diagnosed asset problems.

Waylay Digital Twin

Waylay Enterprise

Waylay IO

Condition-based maintenance plans

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.

Waylay Digital Twin

Waylay Enterprise

Waylay IO

Applicable Industries

Smart equipment

Waylay for smart equipment and Equipment as a Service

Energy & utilities

Digital service innovation in the energy sector - oil & gas, utilities and VPPs