SANTA CLARA, Calif., June 1, 2017 /PRNewswire/ -- Based on its recent analysis of the automation solutions and services market, Frost & Sullivan has recognized Yokogawa Electric Corporation with the 2017 Global Frost & Sullivan Award for Customer Value Leadership. In response to the shift from layered/hierarchical industrial architectures to networked/integrated architectures, Yokogawa made several strategic acquisitions to establish its position as one of the prominent solution providers for advanced solutions across the process automation industry. These partnerships enabled it to seamlessly deliver bottom line-impacting solutions and services that enhance operational safety, stability, productivity, and enterprise resilience.
Some recent prominent acquisitions by Yokogawa include:
- Industrial Evolution, Inc. (December 2015): This company provides cloud-based data sharing services to numerous Fortune 100 companies. With this acquisition, Yokogawa is able to deliver Data-as-a-Service platform capabilities to its installed base.
- KBC Advanced Technologies Limited (April 2016): This company achieves operational excellence and profitability in the upstream and downstream segments of the oil and gas industry. Following its acquisition, Yokogawa filled a gap in its portfolio with a differentiated blend of advanced software and operational consulting capabilities to become a comprehensive solution provider. It plans to combine its best-in-class measurement, control, and IT with KBC's software and Industrial Evolution's data sharing capability to drive business value.
- Soteica Visual Mesa, LCC (October 2016): This acquisition endowed Yokogawa with production accounting, scheduling, and energy management capabilities.
"Yokogawa's strategic acquisitions help drive differentiated customer value by discovering areas of improvement, automating the manufacturing processes, and sustaining these benefits through continuous improvement," said Frost & Sullivan Consulting Manager – Muthuraman 'Ram' Ramasamy. "Its holistic solution and service portfolios increase the return on capital employed while lowering variability in operational performance."
Frost & Sullivan observed that process automation end users desire the harmonious integration of operational technology (OT), IT, and lifecycle management. Even though the maturity levels of these companies vary, Yokogawa has been able to understand their industry-specific needs and translate that knowledge to customized solutions.
While the company is aggressively building its presence in the United States, it is also a top-three participant in Asia-Pacific, the Middle East, and Europe. Significantly, Yokogawa is one of the few independent automation companies focused on the energy and chemical value chains, and several large integrated oil and gas companies, such as Shell and Gazprom Neft, continue to renew long-term contracts.
"While many competitors have strengths in specific value chain segments, Yokogawa's integrated value proposition allows it to offer end-to-end services across a broad spectrum of vertical markets. For example, KBC Advanced Technologies presents facility simulation, reactor models, pipeline simulations, flow modeling and fluid modeling, and KBC Co-Pilot Program™, in addition to value-added services centered on the end-user's business, possible operational improvements, and employee performance," noted Ram Ramasamy. "Furthermore, strategically located service centers throughout Europe, Asia-Pacific, Latin America, and the United States ensure that the company is able to quickly respond to clients' needs."
The Industry Automation (IA) business vision of Yokogawa is to become the most trusted partner and drive sustained operational performance improvements for customers in the energy and chemicals value chain. This vision statement from IA is very timely because customers are currently confused by several technology convergences and volatility issues---the main ones being the shift to enterprise-scale optimization and the use of open standards. As the market navigates through these changes, Yokogawa is proving to be one of the key automation solution providers of choice across end-user segments.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving their return on the investment made in its services or products. The award recognizes the company's inordinate focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention, and, ultimately, customer base expansion.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.
About Yokogawa Electric Corporation
Yokogawa's global network of 114 companies spans 59 countries. Founded in 1915, the US$3.7 billion company engages in cutting-edge research and innovation. Yokogawa is active in the industrial automation and control (IA), test and measurement, and aviation and other businesses segments. The IA segment plays a vital role in a wide range of industries including oil, chemicals, natural gas, power, iron and steel, pulp and paper, pharmaceuticals, and food. For more information about Yokogawa, please visit www.yokogawa.com
About Frost & Sullivan
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SOURCE Frost & Sullivan