Honeywell Introduces Enterprise Performance Management Software
ATLANTA, June 6, 2019 -- Honeywell (NYSE: HON) today announced it launched a new category of software, Enterprise Performance Management for Operations Technology, that will improve the way a variety of companies collect, analyze and act on data from their operations. The software solution, called Honeywell Forge, will leverage the company’s more than 100 years of expertise in asset and process control technology and will transform the way work gets done by owners and operators of buildings, airlines, industrial facilities and other critical assets and infrastructure.
Honeywell Forge converts massive quantities of data from equipment, processes and people into intuitive, actionable insights that enable monitoring of enterprise operations from a single screen. In turn, this helps customers optimize the efficiency, effectiveness and safety of their business.
Honeywell Forge is designed to be quick and cost-effective to implement, with a hardware- and software-agnostic approach that allows for use of existing systems. Honeywell Forge leverages predictive analytics to help identify maintenance issues before they happen; enable workers to be more productive, proficient and safe; reduce costs; and increase productivity. The company is developing Honeywell Forge to incorporate the latest cybersecurity protections.
“Large enterprises around the world consistently lack top-to-bottom visibility into how their operations are performing, and most lack the ability to derive business intelligence from their disparate data sources. Their existing systems are disjointed and have shortcomings that slow growth and cut into profitability,” said Que Dallara, president and chief executive officer of Honeywell Connected Enterprise. “Honeywell Forge can provide leaders of complex businesses with the visibility they need to transform their operations quickly and efficiently, at every level and with minimum disruption, enabling users to focus resources on innovation and achieving business objectives.”
According to a recent Honeywell survey[1], more than 80 percent of C-suite executives and senior decision makers believe it is important to implement a holistic solution as companies look to digitize and better connect their operations. The same survey shows key decision makers believe better enterprise management will offer superior predictive information, leading to safer and more secure facilities, enhanced efficiency and profitability in the supply chain, more efficient use of resources, and better real-time decision making to avoid downtime. Honeywell Forge offers these advantages and more to customers looking for quick adoption and fast payback.
More Efficient Building Management – Available Now
Honeywell announced the wide availability this week of Honeywell Forge for Buildings, which is intended to revolutionize the management of building portfolios by helping business owners and operators decrease operating expenses, improve energy consumption and manage space optimization across an entire building portfolio while also enhancing the individual occupant experience.
“Buildings house incredible and powerful data on the performance and usage of the building; however, if that data is difficult to access, interpret or use for meaningful insights, it doesn’t help drive a customer’s business. We are transforming building operations via enterprise software that allows owners and operators to get more out of their building data in order to drive significant business results,” said David Trice, vice president and general manager, Honeywell Connected Enterprise, Buildings. “Honeywell Forge for Buildings is open, extensible, intelligent and easy to use. You can turn on a building in a day or less and review the operations of a building from anywhere – including your favorite coffee shop.”
Currently, many building portfolio owners have multiple disconnected systems in each building. Often these systems do not communicate with and are not compatible with each other, leading to manual maintenance, data trapped in proprietary systems, disconnected teams and systems, over- or underutilized space, and poor occupant experience. More than 90 percent of building management decision makers surveyed1 agree that a better enterprise management system can help improve resource management, avoid unplanned downtime and provide enhanced predictive information to make facilities safer and more secure.
When fully deployed, Honeywell Forge for Buildings aims to help reduce the operating expense of a building portfolio by up to 25 percent by providing visibility, monitoring and control of all building systems and processes across an entire portfolio of buildings.
“With more than 50 buildings in our global property portfolio, implementing next-generation building management systems enables us to make sound strategic decisions that will deliver improved capacity and space management, more agility and increased energy efficiency,” said Martin Frohock, head of facilities UK & EMEA, Arm, a multi-national semiconductor and software design company. “Honeywell Forge for Buildings easily integrates with other systems and allows us to gauge performance across the entire enterprise at any given time from a central location.”
Honeywell Forge to Transform a Variety of Industries
The family of Honeywell Forge offerings will continue to expand across a wide range of sectors over the coming months:
- Honeywell Forge for Industrials (launching in June) monitors process performance and leverages digital twins to help optimize production and increase throughput;
- Honeywell Forge for Airlines (launching in June) provides insights and analytics to help save airlines money;
- Honeywell Forge for Inspection Rounds (launching in June) digitizes the deskless worker and helps improve efficiency, productivity and compliance; and
- Honeywell Forge Cybersecurity (launching in the fourth quarter) helps protect critical operations from ever-evolving cyber threats.
For more information on Honeywell Forge, visit https://hwll.co/HoneywellForge.
Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
[1] In April 2019 on behalf of Honeywell, KRC Research surveyed 600 U.S. business professionals in senior roles that make decisions related to IIoT purchasing and investment in the following industries: aerospace and defense; non-residential buildings / city management; specialty chemicals; supply chain, logistics, and industrial productivity; oil, gas, and petrochemicals; and safety equipment and gear manufacturing.
Nina Krauss
(704) 627-6035
Mark Macaluso
Investor Relations
+1(973) 455-2222
