Relayr Equipment-as-a-Service (EaaS) recognized with '2023 Global Company of the Year Award' by Frost & Sullivan
With a reputation for offering the overall best in the equipment-as-a-service industry, Relayr simplifies operations by offering a comprehensive solution.
SAN ANTONIO, TX. – May 18, 2023 – Frost & Sullivan recently assessed the equipment-as-a-service (EaaS) industry and, based on its findings, recognizes relayr with the 2023 Global Company of the Year Award. The company offers a holistic approach to EaaS – pay-per-demand, guaranteed performance as a one-stop-shop. Relayr partners with original equipment manufacturers (OEMs) to develop and offer EaaS solutions tailored to the needs of industrial manufacturers. Relayr drives the development of the EaaS offering, enables the implementation with its technological capabilities, and offers to operate the model for OEMs and their customers, performing the risk management, asset management, and necessary financial services.
Relayr’s Equipment as a Service offering significantly reduces the hurdles for an OEM to enter into EaaS as relayr takes away the complexity of operations, necessary investments into core infrastructure, and the headache of potential balance sheet impacts.
The OEMs’ customers, as business model subscribers are able to use the equipment based on demand of their end-customers, without having to shoulder the otherwise required capital investment to upgrade or expand their machine park. Operating costs are synchronized with revenue cycles, optimizing the cash flow of the manufacturer. Relayr technology increases the insights into machine usage and equipment health, and, together with integrated service agreements, improve productivity and reliability.
Relayr connects the OEMs’ knowledge of optimized equipment operations and equipment servicing, with relayr’s deep-seated IoT Tech and Data Science knowledge, adding the proven expertise in structuring and operating servitization models of its dedicated EaaS structure, including IoT Financing Services (IFS). Bundling all EaaS know-how and management in one dedicated entity and team of experts, distinguishes relayr from its competitors further. This approach, together with a tailored IoT and operating platform, supports fast go-to-market strategies to generate proof points of the business model as well as scaled rollouts of EaaS, including its partnership with Heidelberger Druckmaschinen AG.
Sebastian Trolli, Senior Industrial Analyst, Industrial Technologies, Frost & Sullivan, observed, “Relayr offers game-changing EaaS solutions that make it easy for clients to roll out and scale machines globally and quickly. This approach gives clients the flexibility to prove their machine and operations and go to market rapidly, positioning Relayr as a pioneer in the EaaS industry.”
“Relayr’s dedicated team maintains close partnerships with the OEM to ensure an understanding of the business and strategic implications of its EaaS model. This strong focus includes creating business cases to demonstrate operational and value-added impact. Its one-stop-shop solution combines complex processes into a unified service that allows OEMs to focus on its core business,” added Elizabeth Whynott, Best Practices Research Analyst, Frost & Sullivan.
Each year, Frost & Sullivan presents the Company of the Year Award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership, in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About relayr – a Munich Re company:
Relayr is the Industrial Internet of Things (IIoT) powerhouse delivering the most complete solutions for Predictive Maintenance and Equipment as a Service.
We enable industrial companies by providing a combination of unique IIoT technology and solutions with powerful business services such as IoT Financing Services or bespoke transformation de-risking instruments – all from a single source.
With relayr, manufacturers, operators, and service companies for industrial equipment are empowered to implement fully interoperable Industrial IoT solutions designed to enhance productivity and efficiency, such as reducing Total Cost of Ownership (TCO) and minimizing unplanned downtime.
More at: www.relayr.io