Delivering this is VEERUM, a SaaS provider that created a digital twin application for asset ownership. The company's data visualization solution breaks down data silos and delivers real-time information in the context of a simple to use 3D visualization platform. “Our solution brings simplicity to productivity and safety gains for our clients,” mentions David Lod, CEO of VEERUM. Companies can unify all engineering, geospatial, document management, IoT sensor and ERP data into a single view in 48 hours. In essence, VEERUM provides a digital replica of an organization’s facilities and assets across the globe and enables the client to collaborate with all stakeholders effectively. VEERUM has routinely delivered 10-40x ROI for its clients in the oil and gas, mining, and industrial construction industries, while guiding them through their digital transformation journeys.
As our clients navigate a new normal with travel restrictions and work from home practices, VEERUM supports remote collaboration by delivering current site information to all users in the organization. Clients can virtually visit the site to visualize asset information of their global facilities from the safety and convenience of the home or office. This enables users to plan the maintenance or construction of a brownfield project by providing a cloud-hosted collaboration tool that is used throughout the planning, designing, engineering, and operational phases.
As the solution makes the entire organization more productive and safety-centric, VEERUM becomes the go-to solution for CIOs. It converts paper-based data into a 3D format, enabling asset stakeholders to interpret data 60,000 times faster and improve information retention by 400%, significantly improving employee productivity. More importantly, organizations can implement VEERUM’s solution in just 48 hours, delivering rapid ROI. CIO’s are driven to introduce highly secure and scalable technologies that have a measurable impact for their companies. VEERUM has the benefit of providing both of these to their clients.
Use case - Shutdown and turnaround projects
VEERUM understands that managing OPEX budgets is a strenuous challenge for asset-intensive industries.
In one instance, one of Canada’s largest oil and gas companies approached VEERUM to integrate its disparate data systems to deliver a shutdown and turnaround project. Lod recalls how VEERUM helped the client save over three million dollars in just 30 days after deploying their solution. Needless to say, the client was able to identify fabrication clashes in critical infrastructure prior to shipping the components from manufacturing. This allowed the company to meet the project schedule and avoid over 200 hours of field exposure for rework.
Our solution brings incredible benefits with regard to productivity, and safety, and it helps organizations improve their savings
Use case - Quality and progress verification
Clients can review the models against the actual site conditions without any site exposure. VEERUM achieves this by comparing a site’s geospatial data with the digital model. As the project progresses, VEERUM can perform automated progress monitoring reports to verify and assess the progress of a project by comparing it with the schedule. These progress metrics are available the next day rather than waiting weeks for field updates. Clients can also digitally verify the quality requirements of a construction project by checking if the field staff executes the project according to the original design specifications. Errors are identified early, enabling fabrication issues to be addressed at the point of manufacturing, and reducing dangerous on-site rework.
Such success stories stem from VEERUM's deep industry experience, listening culture, and applying the latest technological advancements to provide significant returns for their clients. Although they have a significant market opportunity in the U.S, the company is also planning to expand globally. More recently, VEERUM has scaled their solution to include the secondary assets of an organization. These assets tend to make up 70% or greater of a company’s asset base. They provide the scalability with their digital twin solution to assets as small as a compressor station or well pad, and as large as a mega facility. The cost-effective solution provides its clients opportunities to digitize and visualize their remote assets in record time. Moving ahead, the company is already augmenting their solution with data labelling and object identification capabilities by leveraging AI and ML.