{"id":173681,"date":"2020-07-14T07:55:14","date_gmt":"2020-07-14T11:55:14","guid":{"rendered":"https:\/\/fiix.wpengine.com\/?p=173681"},"modified":"2020-07-14T07:55:14","modified_gmt":"2020-07-14T11:55:14","slug":"fiix-launches-fiix-foresight-ai-engine-for-maintenance","status":"publish","type":"post","link":"https:\/\/fiixsoftware.com\/maintenance-news\/news\/fiix-launches-fiix-foresight-ai-engine-for-maintenance\/","title":{"rendered":"Fiix Launches the First and Only AI Engine for Maintenance"},"content":{"rendered":"<p><strong>Toronto, Canada\u2014 July 14\u2014<\/strong> Fiix, a Toronto-based asset management software provider, today announced the launch of <a href=\"\/foresight\/?utm_source=pr\" target=\"_blank\" rel=\"noopener noreferrer\">Fiix Foresight<\/a>, the first and only AI engine for maintenance.<\/p>\n<p>Foresight fuses the benefits of industrial AI\u2014 data capture, pattern detection, analysis, and real-time insights\u2014 with Fiix\u2019s market-leading maintenance platform into an easy-to-use, no coding required system purpose-built to help maintenance teams proactively detect problems, identify opportunities for improvement and make quick, data-based decisions.<\/p>\n<p>\u201cIndustry 4.0 technology like software, sensors, and mobile apps are generating piles of data, which has only increased over the past few months as COVID-19 accelerates digitization across the board. But the companies that are going to thrive now are those that can put that data to work and Fiix is answering that call,\u201d says James Novak, CEO of Fiix.<\/p>\n<p>The launch follows an incredibly strong June for Fiix, with the company seeing significant momentum both in customer and revenue growth as maintenance teams globally look to modernize their operations.<\/p>\n<p>Foresight represents the next step in Fiix\u2019s mission to transform the MRO market by connecting tens of thousands of organizations, millions of assets, and an ecosystem of solution providers. It follows the introduction of Fiix\u2019s <a href=\"\/news\/introducing-the-fiix-integration-hub\/\" rel=\"noopener noreferrer\">Integration Hub<\/a> and acquisition of industrial asset intelligence company <a href=\"\/news\/fiix-acquires-alchemy-iot\/\" rel=\"noopener noreferrer\">Alchemy IoT<\/a> in Q3 of 2019.<\/p>\n<p>The first feature released on Fiix Foresight is the parts forecaster, an easy solution for manufacturers struggling to balance storerooms. It works by analyzing historical data in Fiix to predict parts needs, eliminate stockouts, and reduce the amount of working capital tied up in the storeroom.<\/p>\n<p>Early beta customers using the parts forecaster are seeing a 50% increase in parts forecasting accuracy and up to 40% reduction in stockouts. Additionally, some customers have seen a 50% reduction in working capital reserved for parts\u2014 a significant number for manufacturers who, on average, keep $3-5 million in MRO parts on hand at a time. These cost-savings represent a leg up for manufacturers in a post-COVID world where any expense will be under scrutiny.<\/p>\n<p>\u201cWe\u2019re working on several different projects right now aimed at right-sizing our maintenance and right-sizing our storerooms. To do this, we\u2019ve integrated Fiix with Majik Systems and are now integrating Fiix with our SAP. We\u2019re really excited to get rolling with the new parts forecaster tool this year. There are going to be many benefits for us including reducing our carry costs &#8211; this could be huge for us globally,\u201d says Tony Leombruno, CMRP, Corporate TPM Champion.<\/p>\n<p>\u201cThe Fiix AI team is working on some pretty incredible stuff! And the more it runs, the better it will become at forecasting for us. This speaks to the convenience and ease of use of the Fiix system,&#8221; he says.<\/p>\n<p>Parts forecaster is just the beginning for the Fiix AI engine, which will ultimately help industrial organizations coordinate and understand their people, parts, and assets and make proactive decisions that yield real business results.<\/p>\n<p>\u201cThis isn\u2019t AI for the sake of AI. In developing this solution we\u2019ve been hyper-focused on solving big problems for our customers. The best part is that Foresight makes the Fiix solution smarter and more powerful without adding any complexity for the end-user\u2014 they just see the results,\u201d says Novak.<\/p>\n<p>To learn more about Fiix Foresight <a href=\"\/foresight\/?utm_source=pr\" rel=\"noopener noreferrer\">click here<\/a> or sign up for Fiix\u2019s <a href=\"https:\/\/lp.fiixsoftware.com\/fiix-foresight-0720.html?utm_source=pr\" rel=\"noopener noreferrer\">upcoming AI webinar<\/a>.<\/p>\n<h3>About Fiix<\/h3>\n<p>Fiix is the maintenance management platform that combines mobile asset management, work order, and parts management and supercharges it with the most open integration network and AI-driven insights. With Fiix, you can connect shop floor IoT solutions, parts suppliers, contractors, and corporate IT systems quickly and easily to improve the way physical assets and people interact and drive better business outcomes.<\/p>\n<p>There are over 2600 maintenance teams in 90+ countries using Fiix to improve communication, asset health, and even sustainability. Learn more at <a href=\"\/\">fiixsoftware.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, Canada\u2014 July 14\u2014 Fiix, a Toronto-based asset management software provider, today announced the launch of Fiix Foresight, the first and only AI engine for maintenance. Foresight fuses the benefits of industrial AI\u2014 data capture, pattern detection, analysis, and real-time insights\u2014 with Fiix\u2019s market-leading maintenance platform into an easy-to-use, no coding required system purpose-built to help maintenance teams proactively detect problems, identify opportunities for improvement and make quick, data-based decisions. \u201cIndustry 4.0 technology like software, sensors, and mobile apps are generating piles of data, which has only increased over the past few months as COVID-19 accelerates digitization across the board. But the companies that are going to thrive now are those that can put that data to work and Fiix is answering that call,\u201d says James Novak, CEO of Fiix. The launch follows an incredibly strong June for Fiix, with the company seeing significant momentum both in customer and revenue growth as maintenance teams globally look to modernize their operations. Foresight represents the next step in Fiix\u2019s mission to transform the MRO market by connecting tens of thousands of organizations, millions of assets, and an ecosystem of solution providers. It follows the introduction of Fiix\u2019s Integration Hub and acquisition of [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":173682,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"coauthors":[],"class_list":["post-173681","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fiix Launches The First and Only AI Engine For Maintenance<\/title>\n<meta name=\"description\" content=\"Fiix Foresight is the first and only AI engine for maintenance. Learn how Fiix&#039;s artificial intelligence tools help maintenance teams make the most of data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fiixsoftware.com\/maintenance-news\/news\/fiix-launches-fiix-foresight-ai-engine-for-maintenance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fiix Launches The First and Only AI Engine For Maintenance\" \/>\n<meta property=\"og:description\" content=\"Fiix Foresight is the first and only AI engine for maintenance. 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