Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - RemoTech (Remote technical assistance for field service operators)

Teaser

We (Remote Eye) have developed an innovative software based solution for providing remote technical assistance to field service operators by support department experts. Our revolutionizing software “RemoteEye”, can increase productivity and customer satisfaction by...

Summary

We (Remote Eye) have developed an innovative software based solution for providing remote technical assistance to field service operators by support department experts. Our revolutionizing software “RemoteEye”, can increase productivity and customer satisfaction by effectively assisting users with difficult tasks, having real-time data at hand, keeping a close look at the remote situation, resulting to decreased maintenance costs and increased revenue. Currently, RemoteEye is the only telepresence solution in the market available adopted for wearable technologies e.g. smart watch and smart glass. Additionally, our easy, fast and cost effective system can also be used by smart phones, tablets (iOS and Android) and desktop computers. Our innovative business idea has already been selected as one of the most promising startups in Europe by Open Axel.

As a sign of our initial success, we have already finalized agreement with several renowned enterprises in Europe and the U.S.A, e.g. Grupo Segur- a leading private security company in Spain, Abbott- an American pharmaceuticals and health care product company, IDASA- the largest manufacturer of Robots in Spain and signed for proof of concept with Abengoa, Audi VW, Hunkeler, Airbus and few other early adopters. As a young startup we have dedicated our efforts in having a minimum value product (MVP) that has been initially tested and validated by two companies in different verticals (Abbott and Grupo Segur). We have already achieved TRL 6 (technology demonstrated in relevant environment) within a year of our startup business (from Jan 2015 to Jan 2016). It indicates our dedication to bring the innovative idea into the real world quickly, the demand of this innovative software platform and the quality of the service provided. However, we aim at serving hundreds of more enterprises that are currently losing money due to machine downtime.

Machine downtime (avoidable or unavoidable) costs for companies, for example only in the US, €23.4 Billion per year in lost revenues and European business community losses almost 1 million hours. When machinery fails or breaks down it can cause damaging effects on the everyday operations of the company. Manufacturers don’t have adequate tools for after sales support and services for their clients. When a problem happens clients need immediate response and solutions but hard to get immediately, resulting to switching off the machine until a technician can physically travel to fix it. It takes average 54 hours per year for a company to repair machines. The machine downtime can be extremely costly affecting deliveries, productivity and customer satisfaction that in turn can lose the organization some businesses and a lot of money. A company losses ca. €0.35 million per year for on premise machine-repair. The more expensive the machines are, the higher the losses are for the organization.

In current competitive manufacturing market, continuous operation of machineries becoming the vital point and is considered to be the key performance indicator of productivity.
Machine downtime costs time and money for enterprises. EU business community losses almost 1 million hours per year due to machine downtime. In general, it takes ca. 54 hours per year for a company to repair machines and it losses ca. €0.35 million per year for on premise machine-repair.

Thus it is very important to have an integrated solution to reduce this expensive inconvenience as quickly as possible. We have developed an innovative software based solution for providing remote technical assistance to field service operators by support department experts. Currently, RemoteEye is the only telepresence solution in the market available adopted for wearable technologies e.g. smart watch and smart glass.
Additionally, our easy, fast and cost effective system can also be used by smart phones, tablets and desktop computers.
Our aim is to become the pioneer in remote telepresence solut

Work performed

Our system solves the issue and saves time and money by reducing technicians’ travel time and expenses. The cost for the client is only a small fraction compared to the money saved through repairing their machinery in a fast and efficient process. With our software, we initially estimate technical assistance savings of 62%. The objective of this project is to study the detailed nature and extent of the field service market, the interrelation between various market factors, new technology and technological trends that may influence the market. Based on the results the solution will be further enhanced, detailed and scaled up.
The work performed until today is more than just a Minimum Viable Product app software solution already developed for smartphones, tablets and smart glasses for the field technicians as well as the web support portal for the expert.

We have successfully started to offer free pilots to several international companies who are testing and giving us feedback on the product and validating our go to market strategy.
We are especially proud of the following achievements:
• Our innovative business idea has already been selected as one of the most promising startups in Europe by Open Axel.
• We have been able to deserve the interest of two investors that have invested in the company as seed founding
• We have obtained a public grant from ENISA
• We have created a well know brand “Remote Eye” that has been selected as preferred software partner by the main hardware manufacturers worldwide, including Google, Vuzix, ODG, Epson, Microsoft and Samsung.
• We have positioned our startup in the most active investment market, Silicon Valley, where we have been selected to enter some startup incubators and meet investors of tech startups.

Final results

In current competitive manufacturing market, continuous operation of machineries becoming the vital point and is considered to be the key performance indicator of productivity.
Machine downtime costs time and money for enterprises. EU business community losses almost 1 million hours per year due to machine downtime. In general, it takes ca. 54 hours per year for a company to repair machines and it losses ca. €0.35 million per year for on premise machine-repair.

Thus it is very important to have an integrated solution to reduce this expensive inconvenience as quickly as possible. We have developed an innovative software based solution for providing remote technical assistance to field service operators by support department experts. Currently, RemoteEye is the only telepresence solution in the market available adopted for wearable technologies e.g. smart watch and smart glass.

Additionally, our easy, fast and cost effective system can also be used by smart phones, tablets and desktop computers.

Our aim is to become the pioneer in remote telepresence solution with main attention on wearable and augmented reality where we can outperform our competitors.

Our system solves the issue and saves time and money by reducing technicians’ travel time and expenses. The cost for the client is only a small fraction compared to the money saved through repairing their machinery in a fast and efficient process. With our software, we initially estimate technical assistance savings of 62%. The objective of this project is to study the detailed nature and extent of the field service market, the interrelation between various market factors, new technology and technological trends that may influence the market. Based on the results the solution will be further enhanced, detailed and scaled up.

Website & more info

More info: http://www.remoteeye.com.