Digitalization
Integration of Operations
Honeywell's digital journey seeks to transform into an industrial software-centric company. In 2019, the Honeywell Forge platform was launched to integrate all of Honeywell's existing plant applications that enable customers to get a holistic view using real-time data, enhanced with analytics and recommendations. Honeywell Forge provides industries with role-based dashboards displaying industrial processes through KPI overview and current operating performance.
The systems that drive businesses are becoming complex as they require greater digitalization to unearth their potential. Honeywell's need to integrate operations is a trend that will ease these complications. Today, industries are looking to eliminate the marketplace confusion about which technology to use and for what application. With a holistic integration of systems, these complexities can be contained, and industries can experience immense transformation at a minimal cost, and without wasting too much time.
Cybersecurity
Just like many businesses in 2020, Honeywell is prioritizing cybersecurity as a digitalization trend. The interconnectivity of systems creates new routes of access, thus easier access for cyber-attacks. Studies indicate that approximately 20% of organizations with IoT networks have had at least one cyber-attack already. As a result, Honeywell will develop new and more robust strategies to match the pace.
The new Honeywell Forge Cybersecurity Platform provides an array of cybersecurity solutions. Honeywell aims to form asset-intensive businesses with critical infrastructures to apply software solutions that improve OT cybersecurity performance across a company. The Honeywell Forge Cybersecurity also seeks to strengthen multi-site OT by providing a single unified platform to manage cybersecurity operations and offer vendor-neutral solutions that enhance cyber defenses, regardless of the control system in place.
Consulting
Comprehensive Consulting Services
Honeywell's consulting trends include comprehensive services for different segments. The Engineering Consulting Services, for instance, is demanding as it incorporates material testing, simulation of service environments, analysis, failure investigation, practical material use recommendations, and failure prevention, litigation and expert witness testimony.
Honeywell's consulting services also extend to corrosion control services, mitigate users' current corrosion, analyze monitoring programs, and compare against the industry's best practices. Honeywell's expert consultants provide a comprehensive recommendation on both conventional and exotic materials that can perform the best regardless of the corrosive conditions.
Honeywell's consulting services include offering their engineers to work with a client's facility manager after auditing to determine the analysis of the building utilization, the condition of equipment and, the energy consumptions. Further, consultation services encompass an evaluation of a building's systems and develop an optimization plan, including the financing bit.
Supporting Small Businesses
More organizations, especially start-ups, are often on a low budget, and it can be devastating to find professional consultants. Honeywell's ability to squeeze more exceptional performance out of small budgets is a timeless trend. Working with more modest budgets, prioritizes energy savings performance contracts that eliminate or reduce the need for capital funding.
Public and private partnerships allow companies to finance projects and lease it back over time. Working with smaller budgets also incorporates power purchase agreements that guarantee the energy rate within or below conventional rates once a renewable resource fuels a facility.
Honeywell is also uplifting small businesses as part of social responsibility, especially with the ongoing COVID-19 pandemic. For instance, in June, Honeywell launched a $2 million fund to help small businesses in Charlotte adapt to COVID-19. The fund, a partnership between Honeywell, Charlotte Center City Partners, and Foundation For The Carolinas, is a program that aims to support small business owners with less than 50 employees, and particularly the minority, women, and veterans with small businesses.
Partnerships
Streamlining and Combining Operations
In June 2020, Honeywell and SAP SE announced that they had teamed up to form a joint cloud-based solution on Honeywell Forge, its enterprise performance management offering. Honeywell and SAP cloud created a platform to streamline and combine operational and business data with supporting better decision-making and promoting greater efficiencies.
In June 2020, Honeywell and SAP SE announced that they had teamed up to form a joint cloud-based solution on Honeywell Forge, its enterprise performance management offering. Honeywell and SAP cloud created a platform to streamline and combine operational and business data with supporting better decision-making and promoting greater efficiencies.
The partnership will ensure customers can benefit from building performance optimization, such as reduced carbon footprint and lower energy costs and better customer experience. Honeywell Forge and SAP Cloud for real estate solutions will provide a robust, intuitive dashboard and guide real-time key performance indicators and operators with aggregated financial and operational intelligence for their portfolios.
With the ongoing COVID-19 pandemic and economic crisis, key performance indicators (KPI) will be based on enhanced occupant safety and less carbon footprint and energy savings. By streamlining and combining operations, the Honeywell and SAP partnership will effortlessly provide real-time access to these KPIs. The partnership will also ease the optimization of builders' services to meet the set energy savings targets, and sustainability, reducing maintenance hours.
Maximizing on Automation
Both Honeywell Forge and SAP Cloud for Real Estate had individual autonomous building solutions. However, the partnership created the possibility to streamline and combine operations that enable facility managers and building owners to restructure their portfolios through cost savings and newly identified efficiencies to improve the tenant experience. Through a new AI-powered autonomous control, Honeywell Forge can make automatic adjustments for maintenance, comfort, and sustainability.
While the partnership between Honeywell and SAP creates an opportunity to maximize on automation, there is still a need to manage data from sources such as local and state health officials, while even considering technology on the market.
The Honeywell-SAP partnership is built on a joint cloud-based system that affords additional security flexibility, building and maximizing on automation, and energy efficiency. The partnership is believed to have the potential to establish a new baseline as clients grapple with a whole new dynamic.
Upgrading Hyperion and distributed control systems (DCS) ensures process safety as it allows plants such as Honeywell to provide a standard user interface to the integrated process control system. The process saves time on additional training and maintenance requirements by maintaining existing graphics, networks, and direct access to the control network with reading/write data access.
DCS helps process manufacturers to increase profitability and productivity. It is also the only automation system that focuses on people, making the best of the knowledge they hold. By integrating disparate data across facilities, organizations such as Honeywell can make the most of the resources and people. DCS feeds data into a unified automation system, where users can access and achieve proactive, efficient, and responsive operations.
Recent Honeywell Customer Success Stories
Serrala, SiliconExpert Technologies, and CIAC are some recent Honeywell customer success stories. For every challenge encountered, it was solved with an automation solution.
Serrala
Challenge
As an international Fortune 100 leader, particularly in diversified technology and manufacturing, there was a need to solve Honeywell's biggest problem finding an AP efficiency with a solution that could be applied across its different global business groups.
Solution
Honeywell initially rolled out Accounts Payable solution to provide centralized access of scanned invoices, submitted from across the company. Gradually, Honeywell expanded the solution functionality in phases to incorporate capabilities such as increased electronic invoice capture, including OCR (email, paper, or fax) and EDI (large vendors or intercompany transactions).
SiliconExpert Technologies
As a Fortune 100 company that offers a comprehensive and varying array of consumer and corporation needs, Honeywell was under pressure to deliver performance, quality, and value, as a significant force within the industrial sector. Honeywell rolled out a five-year plan, highlighting software as the most crucial component of every single activity as Honeywell.
Challenges
Many of Honeywell's engineering teams worldwide were having a hard time accessing another database to find targeted component attributes, which resorted to time-intensive measures. There was also the challenge of using data identification, especially among hardware, design, and manufacturing teams. Finding comprehensive electronic component data: compliance certifications, lifecycle statuses, PCNs, and years to end life forecasts also proved a challenge.
Solutions
It was easy to identify the necessary tool that would be easy yet readily accessible to the team by monitoring the affected areas. Honeywell gradually transitioned towards the standardization of all its data systems. Some ideal options included SiliconExpert's Bill-of-Materials (BOM) Manager, as it provided the fastest and best solution.
CIAC
As a leading provider of civil and military aircraft services in Colombia, CIAC has benefited from Honeywell. As Honeywell's Authorized Service Center, CIAC has access to certified spare parts and technical support.
Challenge and Solution
CIACs main challenge was expanding into new markets. However, with Honeywell's help, CIAC improved its services, acquired relevant regulatory certifications, and forged strong partnerships with leading technology providers. With enhanced automation supported by Honeywell, CIAC managed to access new markets.
Honeywell's Competitive Advantage
Honeywell's competitive advantage has been promoted by its process solution business, acquisitions, and fewer expenses. Despite stiff competition from its business rivals, Honeywell's recent activities in their process automation business have continued to provide a competitive edge that has managed to keep the company afloat and relevant.
Honeywell's Process Solution Business
Honeywell has a wide array of competitive advantages. For instance, its process solution business is guided by a broad portfolio of industrial automation products and solutions that ensure customers operate safe, reliable, efficient, sustainable, and more profitable facilities. Honeywell has added some new offerings such as process control, process safety, process simulation, process optimization, stable connection to IIoT solutions, and industrial cybersecurity.
Honeywell's Acquisition
Honeywell's immense acquisition has also proven to be a competitive advantage, as each of these acquisitions come with its clientele and many other benefits. These acquisitions have played a vital role in Honeywell's current and future success.
In 2019, Honeywell International generated sales worth $36.7 billion for the fiscal year. Further, the company's competitive advantage lies in its ability to successfully solidify its stand as a Fortune 100 company by diversifying into other industries and offering a wide array of products.
Honeywell top competitors include ABB Ltd, BAE Systems plc, Emerson Electric, Rockwell Collins Inc, Siemens AG, Rolls Royce, ITT Corporations, Johnsons Controls, and GE General Electric. Part of Honeywell's competitive advantage over its business rivals is that it has a lot of potential to penetrate and grow in emerging economies such as India, Brazil, and China through its tie-ups and acquisitions.
Fewer Expenses
Honeywell's process reengineering helps the company diminish its expenses and save time by disposing of inefficient exercises and redundant employees. Group rearrangement decreases the administrative layers' requirement, wipes out and corrects any blunders caused by different exchanges, and accelerates the data stream.
Business process reengineering also enhances Honeywell's quality by reducing work fractures. Setting up clear responsibility for workers to pick up duty regarding their outcomes, enhances teamwork, and can gauge each employee's input.
Honeywell's modern automation empowers its clients (refineries, compound plants, and paper processes globally), to accomplish world-class process control.