- Honeywell International Inc. (NYSE: HON) and SAP SE (NYSE: SAP) announced they have partnered to create a joint cloud-based solution
Honeywell International Inc. (NYSE: HON) and SAP SE (NYSE: SAP) announced they have partnered to create a joint cloud-based solution based on Honeywell Forge (Honeywell’s enterprise performance management offering) and SAP Cloud Platform to streamline and combine operational and business data to support better decision-making and drive greater efficiencies.
The first area of focus will be the real estate industry where builder owners often have to pull data from disparate sources that are not normalized. This makes it challenging to determine the true efficiency and utilization of their portfolios.
Using the power of the Honeywell Forge autonomous buildings solution and the SAP Cloud for Real Estate solution, the new offering is going to enable facility managers and building owners to reposition their portfolios with cost savings and newly identified efficiencies while also helping to improve tenant experience. The Honeywell Forge service powers a new AI-driven autonomous control capability that makes automatic adjustments to maintenance, comfort, and sustainability.
When buildings come back online in the midst of the COVID-19 pandemic and economic crisis, owners are expected to focus on key performance indicators (KPIs) based on enhanced occupant safety and reduced carbon footprint along with energy savings. And by providing real-time access to these KPIs, the joint offering will help building owners optimize their operations to meet aggressive energy savings targets and substantially reduce maintenance hours.
HVAC operations are known for consuming a major portion of total energy consumption in commercial buildings, but an AI-based system like Honeywell Forge can save substantially on energy costs.
The solution from Honeywell and SAP is going to provide customers with easy access to a wider range of pertinent real estate data, including energy performance, security, maintenance, rent, taxes, location, regulations, lease terms, and other costs. And the solution will include predefined extensible dashboards combining information technology and operational technology KPIs thus leveraging artificial intelligence. And it will also monitor and reduce annual energy spend, resulting in reduced carbon footprint and greater energy efficiency, even as maintenance hours decrease. Plus it also offer a harmonized data architecture that connects building data from Honeywell with real estate and financial data from SAP and combined human comfort KPIs with measured experience KPIs.
Key Quotes:
“Building owners today often struggle to get the real-time data they need to determine the true efficiency and utilization of their portfolios. Honeywell and SAP together will provide insights from the boiler room to the boardroom that make it easier for our customers to get a true picture of how to optimize building performance, lower carbon emissions to meet sustainability goals, reduce energy costs and help enhance occupant experience. Having this information readily accessible will allow our customers to generate tremendous business value while becoming more sustainable, and it will greatly enhance the appeal of their buildings to renters and tenants.”
– Darius Adamczyk, chairman and CEO, Honeywell
“Our partnership will significantly change the game in digital and intelligent real estate management. Customers will greatly benefit from the single holistic view provided by our offering dashboard. With the addition of Qualtrics, companies can also collect employee sentiment data to provide a complete 360-degree experience measurement while optimizing occupant productivity, building performance and their entire real estate portfolio. With embedded artificial intelligence and data analysis, our solution will enable managers to determine their optimal office use and adjust their portfolios to reflect varying economic, environmental and regulatory conditions.”
– Christian Klein, CEO at SAP
Featured Photo Credit: Honeywell
