Flowserve Corporation has announced the launch of a IoT service suite to help production facilities monitor their assets remotely.
This will help predict equipment failures before they happen and take preventive measures to avoid business disruptions.
RedRaven, the new platform supports any flow control equipment regardless of manufacturer, opening the door for companies to quickly realise the full benefits of IoT and predictive analytics without major infrastructure changes.
IIoT-based predictive maintenance solutions are expected to reduce factory equipment maintenance costs by 40%, according to Deloitte. Predictive maintenance can also reduce safety, health, environment and quality risks by 14% and extend the life of an aging asset by 20%, according to PwC.
“We’re betting big on IoT to help companies avoid costly downtime, which is not feasible in today’s world,” said Scott Rowe, Flowserve president and chief executive officer.
“The COVID-19 pandemic illustrated the critical importance of digitization in production facilities for business continuity, and RedRaven can help companies accelerate their digital transformation to start reaping the numerous productivity and profitability benefits of IoT.”
POPULAR NEWS STORIES
LATEST VIDEOProco Series 700 ProFlex tm Rubber Check Valves