Vancouver, BC / TheNewswire / December 11, 2018 - Eight Solutions Inc. (TSXV:ES) ("Eight Solutions" or the "Company"), a technology company bringing achievable AI to industrial enterprises, today announced the continued sales momentum of its Cumul8 predictive AI and IoT platform in the Forest Products industry.
Sales are driven through Oper8, a collaboration between the Company and the BID Group, the largest integrated supplier to the wood processing industry and the North American leader in the field. Oper8 is designed to deliver a digital platform specifically tailored for the Forest Products industry that uses Cumul8 as its core predictive analytics technology.
The Oper8 collaboration has grown its customer base to include industry leading operations inside both the sawmilling and pellet segments with installations in seven facilities in 2018 and several more already scheduled for 2019. This installation growth provides a strong foundation of recurring monthly and annual Software as a Service (SaaS) revenue.
Customers such as Georgia-Pacific and West Fraser have each embraced the need for digital transformation within the industry and partnered with Oper8 to make it happen. The implementations have included a range of solutions, from completely new BID turnkey mills to broad facility retrofit applications and custom-designed predictive value models.
The projects entail the connection of live streaming raw machine data from Programmable Logic Controllers (PLCs), IoT sensors, and multiple other sources within a single analytics platform, as well as the creation of data models to generate predictive insights that help multi-level managers and operators optimize mill performance and enhance overall Return on Invested Capital.
According to Rick Wilson, VP of Corporate Development at the BID Group, "Our clients are embarking on the AI journey because they recognize the need for transformation inside the industry in order to remain competitive for the long term. They are on this journey with Oper8 because it is the only complete platform designed specifically for the industry's unique needs by seasoned experts. Our customers are receiving the best of both worlds - the Forest Products industry experience of BID coupled with the innovative AI technology of Cumul8 - to drive overall business performance improvement. We are proud to work with the Eight team to achieve this."
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