The utilization, as well as managing operations and breakdowns of heavy equipment, is quite daunting nowadays given the criticality and long lead time for repairs and specialized manpower. The key industries impacted due to such issues are the infrastructure, construction, mining, ports, and logistics industries. Catering to such impediments, Cognecto SaaS-based Platform offers affordable and upfront costs to implement and follows a 'Pay as you Go' model for IoT as well as Analytics. In conversation with Rohet Sareen, Head of Business & Product Development, Cognecto, we will learn more about the company's journey and the state-of-the-art platform that it offers. What prompted you to tackle the challenges of Business Operations Analytics for Heavy equipment given the fact that it is a highly fragmented industry with digitization being leveraged only by a few large players?
In the current age of digitization, businesses leveraging heavy equipment lack insight into the real-time performance of their assets and an overview of overall business operations. These assets are capital intensive from renting as well as buying or leasing perspective. It is important that businesses leverage maximum ROI from their assets deployed in addition to getting relevant KPIs for their business operations.
The current challenges faced in the heavy Asset deployment are many, each project involving HEMM has its unique set of KPIs for performance which may not be configured as part of standard OEM solutions. These KPIs require customization to fit into the organization's performance and financial metrics. Off-the-shelf-edge devices are not custom-built for heavy equipment, require significant time for one-off installation, and do not meet the ability to operate in a harsh environment.
In addition, there are separate players for hardware, mining, infrastructure, and software solutions. While all of them may be good in their respective domains, integrating them and making them relevant for business operations takes signification effort and often provide sub-optimal solutions. With our team of experts, we are growing rapidly and eyeing to collaborate with our customers to provide solutions that they need the most. This is where Cognecto comes with its expertise and focuses on bringing easy deployment and a custom-built Heavy Equipment management platform for the industry. The company has successfully positioned itself as a one-stop shop for all kinds of heavy equipment monitoring and optimization for both owned as well as rented assets. Define Cognecto as an organization in the AI market and what sets it apart from others in the sphere? A few of the features of our solutions that set us apart are fuel management, field intelligence, drone integration, Automation of service Reminders,
smart allocations that help managers determine the optimum mix of fleet utilization and the sequence to meet its production targets, and others. We also leverage IoT data to generate insights into productivity, safety, usage patterns, alerts, fuel utilization, maintenance, and more. In addition, we have an experienced set of experts who monitor the assets for our customers and proactively advise them in case of any breakdown as well as potential issues. Could you elaborate on the kind of customer expectations met through its solutions? We have always worked towards enhancing the customer experience with our platform and services. Our solution caters to diverse users from large-scale heavy machinery operators to SMEs and from homogenous asset bases to heterogeneous asset bases. To enhance our clients' experience further, we are introducing the concept of the SaaS model where asset owners with even 10+ assets will get to be part of the IoT-based application. We offer ROI to our clients on a month-on-month basis and offer a seamless transfer of data and operations to our platform.
Features that we are striving to launch are wearables, a next-gen solution that would integrate the smart wearables so that the organizations can plan their workforce based on productivity and safety- Rohet Sareen Head Product and Busienss Development
With our team of experts, we are growing rapidly and eyeing to collaborate with our customers to provide solutions that they need the most.
Where is Cognecto headed for the years to come? What are its short-term and long-term plans? With our team of experts, we are growing rapidly and eyeing to collaborate with our customers to provide solutions that enhance the productivity and safety of their businesses. Some of the features that we are striving to launch in our platform are wearables (a next-gen solution that would integrate the smart wearables so that the organizations can plan their workforce basis their productivity and safety), Drone Integration (the potential to analyze real-time video feed to detect intrusion detection, safety alarms, and real-time production/fleet planning allocation) and others.