Predict the unpredictable with AccuPredict

Today's machine systems are becoming increasingly expensive alongside greater automation. When these break down, it's not only disruptive, but equally time-consuming and costly. Singapore-based startup AccuPredict Services Pte Ltd saw a need for action here and, since its founding in 2021, has developed an intelligent and pioneering operating strategy to predict machine failures and avoid them accordingly. 
"Using remote sensors and advanced analytics, early warning of failures can be provided," explains Milind Yedkar, co-founder and CEO of AccuPredict. "This enables timely corrective action without disrupting planned production schedules." 

It was through our Singapore-based partner hub Scaler8 that 5-HT and AccuPredict first made contact. In an interview with 5-HT, Milind shares both the background of AccuPredict's operating strategy and the opportunities and expectations of our relatively young cooperation. 

Milind Yedkar, co-founder and CEO of AccuPredict

Predictive Maintenance: The AccuPredict Operating Strategy

"In general, AccuPredict uses WiFi-based remote sensors and advanced analytics to remotely analyze the vibration of machine components. This helps to predict an upcoming failure," begins Milind. "Our customers don't have to make any changes to their maintenance processes in the process, because our sensors are placed outside the machine and don't need to be shut down. In addition to the original equipment manufacturer (OEM) warranty, the plant's process control systems are not affected in any way," he explains. 

AccuPredict talks to machines. By translating, analyzing and communicating machine input to our customer, they know how the machine will behave in the future.

In the process, installing the sensors and ensuring that the signal is accessible takes just one day. "Just 24 hours after connecting the sensors, we can tell our customers which components of their particular machine are at risk of failing, what remedial action is required, and how much lead time (MTTF) the customer has to take remedial action," Milind adds. 

Diversity of machines means a diversity of customers 

Milind explains vividly: "Geographically, our customer base extends across Europe as well as the Middle East, Africa and India. The industries from which our customers come are enormously varied. While a majority come from the (petro)chemical and oil and gas industries, the other part comes from power generation, such as wind power. Two other large areas in which our technology is potentially used are mechanical engineering and shipping," concludes Milind. 

Already a worldwide customer base from various industries

In the process, AccuPredict establishes certain success criteria with its customers at the beginning of the collaboration. Here Milind emphasizes: "If these success criteria have not been met at the end of a month, then the trial is terminated. There is no cost to the customer for this, because we only charge for a successful evaluation of the data." AccuPredict's service thus includes the installation of the sensors on the respective machine as well as the collection and evaluation of the data by an expert team of 25 engineers. 

Having worked with our globally distributed customers so far, AccuPredict is proud to have a 100 percent retention rate.

Why should customers choose AccuPredict? 

According to Milind, three aspects in particular set AccuPredict apart from the current market competition. "First, we are completely sensor agnostic. For example, customers who already have sensors installed on their machines do not need to replace them but can simply send us their machine signals. Using this data, we then carry out the analysis.

On the other hand, we provide our customers with planning reliability for their production schedules, because our forecasts range from 180 to 200 days into the future. Finally," Milind adds, "our predictions are absolutely deterministic." 

The latter, in particular, has a fundamental impact on internal company structures, because fewer employees will have to worry about managing and maintaining machines in the future because of AccuPredict's reliable predictions. "In this way, we solve the challenge that many companies face, namely hiring and retaining experienced workers."

A chain of benefits resulting from AccuPredict's accurate predictions

Milind uses the following example to illustrate the extent to which customers generally benefit from an analysis of their machines: "Let's say a customer's machine has a reliability of 80 percent, and after our analysis this increases to 90 percent. Then the profit for the customer is far more long-term and higher than what he pays out to us," Milind describes.

Already achieved a lot: What is something AccuPredict is particularly proud of? 

"Probably the fact that we have managed to bring together such a dedicated team with decades of experience in a short period of time," Milind points out. "Just recently, AccuPredict had a two-hour conversation with engineers from a multinational organization. The questions focused on all aspects of the predictive maintenance field. The fact that our team left no question from the organization unanswered reaffirmed our capabilities." 

In addition, AccuPredict already has three new service models planned for the future: "While we do not intend to offer on-site maintenance services, we can certainly imagine becoming part of a service provider that offers such on-site customer support. Typically, that would be for small and medium-sized businesses or else for energy systems such as wind turbines, oil or gas plants," Milind said. "Secondly, we would like to continue to engage with specific customers in the future to embed ourselves in their operations. Ultimately, we can imagine deeper cooperation with original equipment manufacturers, such as those of elevators, escalators, compressors."

Extra support beyond Germany's national borders from 5-HT 

"We believe that 5-HT, with its extended network, occupies a central position not only in Germany but also throughout Europe. Because your platform resembles a hub, we see in the cooperation the chance to establish our operating strategy even more successfully in the European market. Thus, we see the primary value from our cooperation in establishing contacts with new companies, especially those from the healthcare and chemical industries," Milind explains. 

For this reason, he is positive about further cooperation: "So far, the exchange with 5-HT has been fantastic. Furthermore, we believe that Germans in particular have engineering in their blood. This common ground with AccuPredict thus creates the conditions for productive discussions and at the same time lays the foundation for high-quality work," concludes Milind.