Ponemon’s report on the average cost of downtime found that it had rose to $9,000 per minute in 2016 from Gartner’s findings of $5,600 in 2014, an increase of 62.2%.
Earlier this year, Pingdom’s report, “Average Cost of Downtime per Industry”, delved deeper, and broke it down by industry.
From these reports, it is clear that downtime is more expensive than before, and hits certain industries harder than others.
Our AR solutions are being used in a wide range of industries, including auto, energy, and mining to decrease downtime.
Our AR tools increase inspection accuracy via computer vision, allowing you to identify problems early, which is crucial for preventing them from becoming larger and costlier.
Digital workflows standardize inspection and maintenance processes, greatly increasing the likelihood that they are done properly, which prevents issues and increases first-time fix rates when problems do arise.
Remote collaboration empowers frontline workers by enabling them to livestream issues to remote experts, who can walk them through inspection and maintenance procedures. By eliminating the need to bring remote experts on-site, your equipment can get up and running faster.
Our clients have reported that our AR solutions have cut maintenance waiting times by up to 53%. They have also told us that there was a significant increase in first-time fix rates. Depending on how much each minute of downtime costs you, we could save you hundreds of thousands, or even millions, of dollars from a single instance of downtime.
Click “Book A Demo” to learn more about how our AR solutions can help you decrease downtime and protect your revenue.
