New Delhi, May 2017 – Honeywell (NYSE: HON) introduced a new cloud-enabled building management service that prioritises the most impactful maintenance activities to optimise building performance. Combining advanced automation and data analytics, Outcome Based Service enables Honeywell service engineers to watch building assets around the clock, identifying anomalies faster than traditional maintenance, saving them time and money.

Without close monitoring, energy consumption can drift by up to 7 per cent annually. The service taps building connectivity and sensors to ensure that building equipment is performing at its best. Early pilots show reduction in energy spend and reactive service calls.

"Data provides valuable insights about building health if you have the right combination of technology and expertise to efficiently gather and analyze it," said Aseem Joshi, regional general manager of Honeywell Building Solutions in India. "With Outcome Based Service, Honeywell makes the most of internet connectivity to essentially listen to what a connected building has to say, providing actionable insights to improve performance. Instead of repeatedly reviewing a time-consuming checklist, the Honeywell Outcome Based Service optimises efficiency and tracks performance real time."

Outcome Based Service provides the following actionable insights: Real-Time Analytics – Honeywell's analytics evaluates facility data real-time to find issues faster, improve performance and efficiency, decreasing maintenance time; dynamic tasking – instead of routine scheduled inspections, analytics prioritise maintenance of higher-impact activities, mitigating downtime and improving operational efficiencies; performance dashboards and reports – the easy-to-use, cloud-based interface monitors building performance against an organisation's key performance indicators; lifecycle management – an actionable roadmap with predictable costs keeps systems current and IT-compliant, providing efficient virus and patch updates; continuous service improvement – systematic reviews prevent and eradicate problems, reduce critical incidents and downtime.

Outcome Based Service is the latest addition to Honeywell's growing connected services portfolio. Other than the Outcome Based Service, Honeywell's connected services portfolio includes the Honeywell vector occupant app for improving occupant experiences, and Honeywell Pulse for connected buildings, an app that forges a real-time link between facility and engineering staff and their buildings to help boost productivity and performance.