Praemo recognized as one of the Top 20 Most Innovative IoT Companies to Watch in 2018

Praemo was founded by a group of digital industry experts with extensive experience in their respective fields. The company does not only understand technology intimately but is able to put that knowledge into practice to provide predictive and prescriptive solutions that increase productivity while reducing costs.

By combining industry expertise with AI and IIoT to automatically deliver insights and recommendations, Praemo gives its clients the ability to predict disruptions and take preventative action.

TM Razor by Praemo connects securely to data sources to ensure fast, safe and error-free data transfer. Inside Razor™, Predictive Analytics and Prescriptive Intelligence generate Events and Recommendations which are delivered as intuitive notifications.

An Experienced Leader

Michael Martinez, the CEO of Praemo had worked in the real time connectivity field for a number of years even before the terms IoT and IIoT entered the common vernacular. He moved on to executive roles within the Asset Management space and then accepted the position of Chief Operating Officer at SMEC before founding Praemo.

Michael’s experiences in the digital arena made him realize that we work excessively hard to give meaning to the data at our disposal. He decided that he could design a product that would simplify that aspect of data analytics while working around the clock, no matter the circumstances.

Michael collaborated with Paul Hancock to found Praemo and they put together a team to develop Razor™. The aim was to bring to the market a technology built from industry experience that would solve industry problems.

Ground-Breaking Solutions

Praemo provides predictive and prescriptive technology that allows its clients to turn their operations data into actionable insights.

TM That data is analyzed by Razor to determine events and anomalies that could lead to disruptions within the operations. This information is then used to devise a plan of action that is focused on decreasing downtimes, increasing equipment availability and/or improving quality.

The technology helps operators see trends and events that would normally be lost in the flood of information and points them in the appropriate directions so they are using their time most effectively.

An Exceptional Organization

Praemo was created by people from the industry who best understand the need to solve problems peculiar to their sector. The Praemo team understands the problems that occur in the field, the traditional methods used in the past to try and solve them, as well as the reasons why those methods are only partially effective.

The company is utilizing technology to its advantage by leveraging AI, in combination with industry knowledge and experience to observe, interpret and process data in new ways. This has led to revolutionary insights that help drive sustainability in clients’ operations.

Another major characteristic that separates Praemo from the field is that it did not build a completely new platform and instead chose to develop technology that can work with existing ones. The company’s mission is to not duplicate products that already exist but to build technology that can add value to other platforms.

Praemo has seen the success this approach brings and will continue with a platform-agnostic philosophy.

The journey so far has been amazing, and the company is continuing to hire the best and brightest minds while working closely with some of the most innovative companies in the arena. The spectacular reception to Praemo’s product validates the company’s belief that it is on the right track.

One of their initial challenges was finding the right development pace so that they were fast enough to meet market demand while being careful not to move faster than the technology. They learned early on that with the right approach to technology development and with the right team, Praemo could progress fairly quickly while maintaining quality.

Transforming Organizations

Praemo focuses on the power of predicting and prescribing through the data obtained from everyday operations. Their solution is not presented as a standalone platform but it has the ability to connect to existing platforms as a predictive engine determining actionable insights. For instance, Razor™ will look for events and anomalies that may lead to disruptions in a client’s operations and present it to a designated operator through alerts or via an existing platform. Razor can also automatically create a work orders in a CMMS for maintenance technicians to execute against so that it can fall into the appropriate planning cycle.

Praemo has purposely chosen a lean approach to the technology – this allows it to work with existing platforms, dashboards and other systems already in the market or implemented at customers’ sites. If a client does not have an existing system, Praemo provides a cockpit that allows operators to manage the alerts and insights that Razor™ will create.

Building the Future Roadmap

In the future, Praemo will be working closely with OEMs and larger platforms to supplement their existing technologies in which Razor™ may be the engine for the predictive technology as well as continue working directly to customer building out the organization’s cross industry use cases.

Praemo’s goal is and always will be quick implementation that generates value early for its clients. They want to make IIoT easy, fun and valuable for their customers, transforming it from just another IT solution to a factor that enhances overall operational capabilities.

An Example of ‘Precise’ Partnership

Precision Record Pressing is a state-of-the-art pressing plant. Precision breathes new life into vinyl manufacturing process by combining rich industry experience with a brand new state-of-the-art pressing technology. We are the worlds first manufacturing plant to use the all new record presses in over 30 years!

Made up of engineering and manufacturing experts, musicians, distributors, and record label owners, Precision is uniquely in tune with how a high quality record should be made and delivered. The company is also an adopter of technology that will enhance their operation, which is why they partnered with Praemo to implement Razor™.

“Praemo’s Razor™ has allowed us the visibility to foresee hidden risk potentials within our operational environment before they escalate,”mentions Ernie Addezi, the Vice President of Operations of Precision Record Pressing.

Praemo named one of IoT Innovator’s 50 Most Innovative IoT Companies in 2017

While the Internet of Things (IoT) industry has been busy taking the connected world by storm, the Industrial Internet of Things (IIoT) market has been gaining ground at a slightly more unhurried pace. Don’t let IIoT’s deliberate pace fool you, though; it certainly doesn’t signal any less expertise. Quite the opposite, in fact, considering that most industrial IoT players have been refining associated technologies in the space for decades.

Indeed, with IIoT gaining serious traction and the number of industrial IoT deployments growing by the day, the market seems primed to revolutionize manufacturing by enabling the availability of much greater amounts of data, at much greater speeds, and much more efficiently and safely than ever before. What’s more, IIoT not only can help improve connectivity, efficiency and scalability but also boost time and cost savings for industrial organizations.

One company that has positioned itself squarely in the midst of the revolution is Praemo – an IIoT and Machine Learning specialist. The company’s Razor Predictive Technology Engine identifies events and anomalies that lead to disruptions in production and operations (which, of course, can equate to costly downtime and quality issues).

Lean, mean winning machine

Praemo has managed to distinguish itself from so many other industrial IoT players in the field in part because, the company developed the Razor engine based on many years of toiling in not only the IT industry but also the industrial IoT industry. This means that it was quick to leverage lean and asset management strategies, which allow for quicker time to value. The upshot is that, through machine learning, Praemo’s Razor is helping operators to drive true, sustainable operations.

Suffice it to say that Praemo’s IIoT and AI expertise resonated with IoT Innovator. The fact that Praemo’s technology offers insights and suggested recommendations to help customers take preemptive action to reduce equipment downtime, optimize production processes and manage risks clearly captivated us, with IoT Innovator’s judging panel naming it one of its 50 Most Innovative IoT Companies in 2017.

IoT Innovator’s inaugural Top 50 awards – which span multiple IoT markets across the globe, including Enterprise, Automotive, Consumer, Healthcare, Industrial and Safety – honor the most cutting-edge and contemporary companies that are helping to turn today’s IoT landscape into an undeniably fertile one.

Razor-sharp technology

Praemo takes an ‘edge-first’ first approach, allowing customers to run as much of their technology as possible at the edge (near the source of the data), while still utilizing the cloud when it’s needed for deeper processing. Razor can collect the appropriate information by connecting to equipment, sensors and backend data systems operating within a customer’s network or by securely transmitting data and information between a customer and the cloud.

With the help of predictive analytics, Razor can process data to generate alerts about upcoming production and equipment events, which helps easily identify atypical equipment and process behavior before it leads to costly variability and disruptions. Razor also utilizes prescriptive intelligence, which combines industry expertise with “learned” behavior to automatically create actionable recommendations. But wait, there’s more: Razor also delivers intuitive notifications to users who subscribe to the equipment and event categories that make sense for them.

A numbers game

Okuma America Corporation – the leading Computer Numeric Control (CNC) machine tools manufacturer – put Praemo’s technology to work when it integrated the Razor engine with one of its CNC lathe machines.

As the industry’s only single-source provider of CNC machine tools (Okuma not only manufactures its own CNC machine, drive, motors, encoders, and spindle, but also designs its own CNC controls to integrate seamlessly with each machine tool’s functionality), the company used Praemo’s Razor to collect and analyze data; create alerts about production disruptions; and make recommendations for corrective actions that could reduce or avoid the impact of the disruptions.

THINC Tank

Okuma’s endorsement of Praemo’s technology doesn’t end there: Last August, the company welcomed Praemo to the Partners in THINC collaboration, a network of more than 40 industry leaders who collaborate to solve problems and explore new productivity ideas for real-world manufacturers. With the open architecture, PC-based Okuma Sampling Path (OSP) control at its nucleus, Partners in THINC brings specialized equipment, expertise and a commitment to provide the best possible integrated solutions to the end user.

“Partners in THINC is excited to have Praemo join our partnership,” said Wade Anderson, Okuma product specialist and Tech Centers manager. “They provide leading edge, real world solutions to our customers. Their technology allows our customers to tap into the benefits of AI and IIoT to maximize the full benefits of their manufacturing processes.”

Okuma’s OSP control is key to these partnerships, allowing easy connectivity of peripheral equipment to the company’s CNC machine tools, enhancing productivity for nearly all metal-cutting applications. Essentially, thanks to Okuma’s OSP, partners in THINC members are able to deliver superior technologies that can be integrated with Okuma’s CNC machines and controls to deliver advanced manufacturing system solutions.

“Okuma has a long legacy of innovation, producing high quality machining centers, and fostering growth inside their ecosystem, all with a relentless focus on customer success,” said Michael Martinez, Praemo’s CEO. “At Praemo, we admire these traits and believe that our innovative Razor technology will augment Okuma’s existing capabilities and provide an even greater value to customers and partners.”

Integrating the Razor way

Count Vibco as another company in the industrial space that has been dazzled by Praemo’s technology: When the industrial and construction vibrator manufacturer – which sells to more than 360,000 customers worldwide – was searching for ways to reduce their order-to-shipment time by 66 percent, Praemo sped to the rescue.

Sure enough, the Razor now plays a critical role in identifying productivity improvements for VIBCO as well as delivering real-time alerts about productivity disruptions in their machining operations. (Machining refers to any of the processes used to cut and size various raw materials such as metal into a desired shape. Specifically, Vibco’s production machining uses single axis and multiple axis machines to perform turning, milling and drilling operations on all types of castings, steel and aluminum in a single-piece flow).

As a Maintenance, Repair and Operation supplier, Vibco knows the benefits of being able to deliver equipment, support and services to their customers faster than their competitors. “Our company’s mantra – ‘same day, next day’ – is very simple: Equipment is ordered and built today at Vibco, placed in the truck tomorrow, and received by the customer the next day,” said Karl Wadensten, CEO of Vibco.

“This is where Praemo fits with our everyday business operations: Giving us real live connections to machine and man, and helping to harvest the abundance of data and make good business decisions in a business with little room for delays.”

“Praemo has given us a method of CPR (Clear Predictable Reliable) results in our machining departments and processes, which are the pacemakers for our whole organization,” said Wadensten.

If we had to hazard a guess, then we’d wager that 2018 could be a watershed year for Industrial IoT. We’ve passed the peak hype phase of IIoT, moving well past the possible to the practical and powerful. In the meantime, those businesses that have already embraced the IIoT are enjoying increased productivity, scalability and profitability – a trend that will steamroll ahead as IIoT technologies are more widely adopted.

To learn more about Praemo’s full range of technologies, visit their website.

Kim Kay is the editor-in-chief and associate publisher of IoT Innovator. Email her at [email protected].

Praemo Proudly Demonstrates Razor™ Technology at Okuma’s Winter Showcase

On December 5th and 6th, 2017, Praemo joined Okuma and 41 of Okuma’s other Partners in THINC in Charlotte, NC to demonstrate how Praemo’s RazorTM Technology will help Okuma’s CNC customers improve productivity by providing predictive analytics and prescriptive intelligence. With over 600 attendees, this was the largest showcase that Okuma America has hosted.

Razor™ was integrated with an Okuma LB3000 EXII to collect data, analyze data, and alert about production disruptions. Visitors saw first-hand how Razor™ would identify potential production disruptions, create alerts about the disruptions, and make recommendations for corrective actions to reduce or avoid the impact of the disruptions. Praemo’s Vice President of Engineering, Andy Henderson, also presented on behalf of VIBCO Vibrators President, Karl Wadensten. Karl is focusing on improvement opportunities to reduce VIBCO’s order to shipment time by 66%. Razor™ is playing a critical role to 1) identify productivity improvements and 2) deliver real-time alerts about productivity disruptions in VIBCO’s machining operations.

Digitalization and the Machine Shop: Andy Henderson, Panelist

Praemo’s Andy Henderson, VP of Engineering, will be a panelist at a roundtable event to discuss digitalization in machining with other industry leaders focusing on the challenges and successes related to what it means for machine shops to go digital.

The event is hosted by Sandvik Coromant at Greenville Technical College Center for Manufacturing Innovation and moderated by MakingChips.

Attendees find out what they need to know about digitalization and their machine shop at Sandvik Coromant’s roundtable featuring a diverse panel of experts from a wide variety of manufacturing backgrounds and industries.

Each panelist brings a distinct viewpoint about the future of digitalization and how the use of process and product data will increasingly be used as a measure for quality assurance and resource productivity.

Okuma Welcomes Praemo as the Newest Member of Partners in THINC

CHARLOTTE, NC (PRWEB) AUGUST 24, 2017

Okuma America Corporation, a world-leader in CNC machine tools announces that Praemo, an industry leader in applied IIoT and AI, has joined Partners in THINC. Praemo combines industry experience with IIoT and AI expertise to help customers increase productivity while reducing costs.

Razor™ by Praemo, securely connects to data sources and gathers pertinent information. With the help of predictive analytics and prescriptive intelligence, production disruptions can be detected before they happen. Razor™ insights and suggested recommendations help customers take preemptive action to reduce equipment downtime, optimize production processes, and manage risks.

“Okuma has a long legacy of innovation, producing high quality machining centers, and fostering growth inside their ecosystem; all with a relentless focus on customer success. At Praemo, we admire these traits and believe that our innovative Razor™ technology will augment Okuma’s existing capabilities and provide an even greater value to customers and partners,” says Michael Martinez, CEO, Praemo.

“Partners in THINC is excited to have Praemo join our partnership. They provide leading edge, real world solutions to our customers. Their technology allows our customers to tap into the benefits of AI and IIoT to maximize the full benefits of their manufacturing processes,” says Wade Anderson, Okuma Product Specialist and Tech Centers Manager.

Members of Partners in THINC provide superior technologies that are integrated with Okuma’s CNC machines and controls to deliver advanced manufacturing system solutions.

For more information on Praemo and other members of Partners in THINC, visit http://www.okuma.com/partners-in-thinc.

About Okuma America Corporation

Okuma America Corporation is the U.S.-based sales and service affiliate of Okuma Corporation, a world leader in CNC (computer numeric control) machine tools, founded in 1898 in Nagoya, Japan. The company is the industry’s only single-source provider, with the CNC machine, drive, motors, encoders, and spindle all manufactured by Okuma. The company also designs their own CNC controls to integrate seamlessly with each machine tool’s functionality. In 2014 Okuma launched the Okuma App Store, the industry’s only centralized online marketplace for machine tool apps and related content. Along with its extensive distribution network (largest in the Americas), and Partners in THINC, Okuma is committed to helping users gain competitive advantage through the open possibilities of machine tools, today and into the future. For more information, visit http://www.okuma.com/americas or follow us on Facebook or Twitter @OkumaAmerica.

Partners in THINC

Partners in THINC is a collaboration network of more than 40 industry leaders who come together to solve problems and explore new productivity ideas for real-world manufacturers. With the open architecture, PC-based OSP control as its nucleus, Partners in THINC brings specialized equipment, expertise and a commitment to provide the best possible integrated solutions to the end-user. For more information, visit http://www.okuma.com/partners-in-thinc.

Praemo

Praemo is revolutionizing how industrial companies think about the role of digital technology inside their operations. We help our customers reduce equipment downtime, optimize production processes, and manage risks. This results in improved productivity, lower costs, and a more sustainable operation overall. Praemo is leveraging the best technology and practices from the Industrial Internet of Things (IIoT), Industry 4.0, Artificial Intelligence (AI), and Lean to deliver benefits to our customers. Razor was built with an ‘edge-first’ approach to Connect to customer’s equipment, sensors, and backend data systems to collect data. It operates within the confines of a customer’s network or safely transmits data and information between the customer and the cloud. It processes the data using Predictive Analytics to generate alerts about upcoming production and equipment events. It leverages Prescriptive Intelligence to combine industry expertise with “learned” behavior to automatically create actionable recommendations. These Events and Recommendations are delivered as intuitive notifications to users who “subscribe” to the equipment. Razor was developed for industrial applications under the guidance of Praemo’s experienced industry practitioners. We are committed to building technology with the mission of delivering truly sustainable productivity and cost improving digital technology in a more intuitive and cost-effective method than ever before.