Virtulytix launches SuppliesIQ to address a $1Billion a year problem for imaging device dealers and resellers

Virtulytix, an Industrial IoT development firm based in Lexington Kentucky has announced a Software as a Solution (SaaS) based product to address a long-standing problem for the office products industry. Within the office products industry the loss of toner due to early cartridge replacement has been a not so well kept secret which costs fleet managers (dealers, resellers and OEMs) over $50 device* per year. For an individual dealer who manages thousands of devices, this cost quickly adds up. This problem costs the industry as a whole over $750 million each year in cost of wasted toner and additional shipping.

According to Scott Hornbuckle, President of Virtulytix, “We are utilizing predictive and prescriptive analytics tools to develop a ‘pay for use’ solution for dealers to determine when the cartridge will be empty, and thus avoid early replacement of cartridges. Our field testing has shown that we can reduce this waste by up to 80%, resulting in a significant savings for dealers!”

Virtulytix’s solution captures data from the fleet management software the dealer is currently using, processes the data in a secure private cloud, and then provides the outputs directly to the dealer’s ERP system, or in the form of dash boards or secure notifications. The cost savings associated with this model are significant, even when compared to existing toner saving approaches such as linear regression algorithms, in fact it can be twice as large!

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The first implementation of this tool was developed for use with the PrintFleet™ fleet management software, additional connectors can be provided for other major fleet management tools. 

In order to make it easy for dealers to receive the benefit of SuppliesIQ, Virtulytix is providing a one month free trial. If the dealer is satisfied with the results, they can sign up for an annual subscription. In order to help dealers understand how much this tool can save them, Virtulytix has an Impact Calculator tool which is available at http://www.virtulytix.com/impact.

According to Ed Crowley, CEO of Virtulytix, “The office products equipment market is one of the largest existing industrial IoT markets with over 100 million, digitally enabled, connected devices installed worldwide. Over 15 million of these devices are actively managed under some type of pay for use or cost per page service agreement. By introducing this solution we are providing our clients with a way to significantly improve the profitability and efficiency of their fleet management operations.”

The SuppliesIQ solution and free trial are available now to dealers, resellers, and OEMS. For more information please contact Mario Diaz at mario.diaz@virtulytix.com or +1 602.571.6530.

About Virtulytix
Virtulytix provides advanced analytics solutions which enable industrial IoT device manufacturers and fleet managers to realize the full potential of their IoT enabled devices and fleets.

Virtulytix develops solutions using IBM Watson Cognitive tools, Tableau, Python, and other advanced analytics technologies. The firm’s team of project managers, data engineers, and data scientists help clients reduce service costs, minimize replenishable item wastage, and avoid unplanned maintenance for industrial IoT enabled products by developing predictive and prescriptive analytics based solutions.  The company’s clients include energy companies, semiconductor firms, and office equipment manufacturers. Virtulytix also provides market intelligence and consulting to the office equipment industry.

Web Page: www.virtulytix.com
Email: info@virtulytix.com
269 West Main Street, Suite 400
Lexington, Kentucky 40507

*For simplification purposes, costs are based on monochrome printing only, color printing costs are significantly higher. This is based on typical usage for printers, copiers, and MFPs in managed fleets and has been validated using empirical testing of the remaining toner in ‘empty’ cartridges which were captured as part of managed fleet engagements.

PrintFleet is a trademark of PrintFleet Inc.

Media Contact:  Scott Hornbuckle
President, Virtulytix, Inc.
Phone: 502-664-0733
Email:  scott.hornbuckle@virtulytix.com

Why Analytics Projects Fail – And It’s Not The Analytics!

Being in a highly technical, complex field it is easy to sometimes lose the ‘human aspect’ of the solutions we are developing. We focus on apply edge computing concepts, or whether a seasonality model works better for our predictive accuracy than some other approach. Don't get me wrong, these are all important activities. However, in working with many firms in developing, deploying and supporting advanced analytics solutions, particularly in the domain of the Industrial IoT space, it’s often the people side that fails – not the technology. Read More . . .

We make your Industrial IoT fleet smart!

For 11 years, Photizo Group has been at the forefront of helping clients transform their business models to maximize their market growth in the rapidly evolving and dynamic imaging market. The firm advocated that to survive and thrive, imaging firms need to transform their business models to new service centric models. Photizo Group established a leadership position by being at the forefront of MPS.

During the last two years, Photizo Group invested heavily in their own transformation through the development of a Predictive Analytics division led by Scott Hornbuckle. Today we are announcing that Photizo Group is completing its transformation by being acquired by Virtulytix - an advanced analytics firm based in Lexington, Kentucky. Virtulytix provides both “on premise” and “as a Service” advanced analytics solutions which optimize industrial Internet of Things (IoT) enabled fleets by utilizing predictive modeling and other advanced analytics technologies to reduce waste in supply items and logistics chains, reduce service and warranty cost through highly accurate advanced failure prediction, and optimize revenue by maximizing fleet uptime via reducing unplanned service and maintenance events. Virtulytix tools and solutions are currently deployed in the Semiconductor, Imaging, and Nuclear Power industries.

Virtulytix enables clients to optimize their IoT enabled fleets by applying a full range of solutions design and development capabilities including needs analysis and use case development, solutions design and development, deployment services including integrating into production systems. 

Through this acquisition, Virtulytix is able to leverage the significant investment and intellectual property development that Photizo Group Inc. made into predictive analytics including the patent pending model for dramatically reducing wasted toner due to early replacement in managed imaging fleets. The management team of Virtulytix includes the industry veterans from Photizo Group including Scott Hornbuckle (President), Mario Diaz (VP Consulting), and Ron Iversen (VP Market Intelligence Services).

Virtulytix will continue to support Photizo Group’s imaging industry clients by providing consulting and market intelligence services specifically for the imaging industry. The services provided by Photizo Group will continue under Virtulytix including:

  • Market Intelligence Services, led by Ron Iversen, including the Office Supplies Advisory Service, MPS Advisory Service, Wide Format Forecasts, Ink in the Office Advisory Service, and the Navigator Advisory Service. Virtulytix will continue the model of wrapping high value advisory services including briefings, inquiries, and forecasts, around critical topic areas for the imaging industry; and,
  • Consulting, led by Mario Diaz, addressing strategic and tactical issues relevant to our clients including traditional subjects such as developing and implementing market penetration and growth plans, strategy development and reviews, new product strategy and development and channel strategies and development. Virtulytix will continue to provide a personalized ‘boutique’ approach to projects we are engaged in around the globe. In addition, Virtulytix brings strong data science and data engineering skills to solving our client’s big data and industrial IoT challenges.

Our goal is to make this transition as seamless as possible for Photizo Group clients. Clients who are in the midst of a project will not see any impact and will continue to work with the same project team. Please contact your Client Executive with any questions regarding your specific project. 

For questions regarding this acquisition, please feel free to contact Scott Hornbuckle at Virtulytix Inc. at either scott.hornbuckle@virtulytix.com or +1 (502) 664-0733. This is really an exciting chapter in our working relationship with you and I look forward to our team continuing to serve your needs.

Regards,

Scott Hornbuckle
President, Virtulytix, Inc.

Industrial IoT Solutions Firm, Virtulytix Launches From Lexington, Kentucky

New company with over 120 years of applied industry experience

Virtulytix is a new company focused on providing advanced analytics to clients across a broad range of industries. According to the company’s President, Scott Hornbuckle, Virtulytix is on the leading edge of advanced analytics with the specific goal of “making the Industrial IoT smart!”. While the company is new, it is leveraging the experience of a group of seasoned industry executives including:

Scott Hornbuckle, President, built the Advanced Analytics team at Photizo Group as the group’s director. Scott has a unique combination of advanced analytics expertise, customer understanding, technical expertise, and business management skills which make him the logical choice to be ‘face’ of Virtulytix. 

Mario Diaz, VP Consulting, another 30+ year veteran of the technology industry with key management roles at QMS, Toshiba, Apple Computer, Avnet, and IO Datacenters. Mario leads the consulting practice for Virtulytix where he applies his deep insight in customer experience and marketing to helping clients address their specific transformational and management challenges.

Ron Iversen, VP Market Intelligence Services, rounds out the management team, another 30+ year executive, brings exceptionally strong depth in the imaging industry in addition to deep expertise in product strategy and product development. 

Virtulytix has acquired the assets of Photizo Group including their intellectual property and current client base. In addition to the Photizo Group alumni, a number of new faces have been added to the analytical bench including Nameeta Raj and Junying (Allison) Zhang:

Nameeta Raj graduated from the University of Cincinnati with a Master of Science in Information Systems with a Data Analysis Certification in SQL, SAS, IBM DB2, Tableau, SPSS, Python, R, and Microsoft Excel. She has a rich background in Data Analytics and work experience with ABN AMRO bank in India. Besides her certifications, she has strengths in statistical concepts like multi-variate regression, decision trees, and clustering. 

Allison Zhang recently graduated from the University of Cincinnati, Carl H. Lindner College of Business with a Master of Science in Information Systems. Along with her Master of Science in Accounting and software skills in SAP, SPSS, SAS, SQL and Tableau, Allison will be a specialist in developing advanced analytics solutions.

Allison and Nameeta both are joining an existing team of project management and data engineering professionals who have been successful in building industrial IoT solutions using a variety of platforms and technologies including Mike Huster (Project Management Director) and Eric Crowley (Sr. Data Engineer).

Virtulytix serves clients in the Semiconductor, Nuclear Energy, Imaging, and other industrial markets which are becoming IoT enabled. In addition to developing predictive analytics solutions (both cloud based and on premise), Virtulytix was one of the first firms to develop an ‘as a service’ offering for accurately predicting Industrial IoT enabled device needs using the IBM Watson Cognitive platform called Predictive Maintenance and Quality (PMQ) in partnership with SIS. In addition to Advanced Analytics, the firm provides market data, consulting, and other analytical intelligence services.

For more information, contact Scott Hornbuckle: scott.hornbuckle@virtulytix.com or (502) 664-0733