So we work super, super closely with those business groups and a lot of times it ends up being combined solution. And maybe market that's maybe more, I don't know complex, just talk about industrials. And so I would say momentum is really moving on the business right now. var perfEntries = performance.getEntriesByType("navigation"); Thats where the world is headed, and we expect to lead the way within Honeywell to ensure that we can successfully lead our customers on that journey as well.. No, no, but just talking about Sparta I don't know how much my question you've got, but it's focused on life sciences, $1.3 billion acquisition closed in February. So how has the go-to-market evolve and specifically, how is Honeywell Connected Enterprise helping customers to overcome their biggest challenges in digital transformation? But to start and at the core of it obviously leaning on the expertise from legacy Honeywell and the business groups is critical to our success. So, I don't take for granted, I've been in a super privileged position to kind of see it from the other side of the coin, if you will with a broader tech company and software company that was born in software. If you talk to anyone who is looking at migrating to the cloud or utilizing cloud, everything is - hinges around ability to rationalize around data. document.cookie = cookie_name + "=" + current_url + ";" + expires + ";path=/"; When typing in this field, a list of search results will appear and be automatically updated as you type. And then obviously the last one, which I spent some time talking about really is life sciences. But what we've found is that in most cases, customers actually have been pretty diligent over time about keeping up with asset structure. I saw a very intriguing opportunity to help Honeywell continue their push to be the industrial software company that it's becoming.

And so for us leveraging the expertise that's already there can actually be cheaper at the end of the day.

After many years of award-winning editorial leadership, was recruited by Larry Ellison to transform how Oracle Corp. communicated its vision and business value to the world. Got you, thank you. We are back. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. It's meant to be partnered in nature. They are trying to sell more software to boost profit margins and reduce their reliance on the business cycle, a shift But also helping them think through what the - and work through what the ecosystem that's supporting their move to digital structure within their operational technology, what that move is going to look like. Creator of Cloud Wars Top 10, a ranking and ongoing analysis world's most-influential tech companies driving digital business and the digital economy. So, I'll just pause for a second.

There is a reason there is only three or four of them worldwide, four of them, if you include Alibaba. And so that's really the distinct difference. And finally, you know, on the front line you know, the workers are at the core of this.

And then even our - one of our core products Tridium Niagara we just passed 1 million instances of that deployed, which is a pretty monumental milestone on a worldwide basis. And you know, as you've heard us talk about it and we talked about it in our last earnings cycle, the momentum in the business has been strong as well. if ( request_uri.indexOf('wp-login.php') !=-1){ var request_uri = '/cloud/forging-an-industrial-software-revolution-in-the-cloud-at-114-years-old/'; And Honeywell (ticker: HON) is big. This obviously leads to outcomes for Honeywell which we're super proud of. I think as most of you know, Connected Enterprise was founded roughly three years ago, back in 2018. So I'll just call out where we're at.

And so, if you think about whether that's a manufacturing facility, whether that's an oil and gas rig, pick and poison the nature of kind of each segment within that broader vertical brings with it a whole set of different complexities that really are focused around processing and managing other facility as much as it is about the assets and things like maintenance. And we're lucky in the fact that I've only been here six months, we're lucky in the fact Connected Enterprise had a little bit of a running start based on that, which is super helpful.

if(redirect_url.indexOf('?') } I don't know that I have an exact percentage, but let me give you some perspective. Yes, for sure. And then I spent my last three years there in Investor Relations.

It can be by assets, it can even be by buildings or sites. And with that, Mike welcome to our event. The short answer is no, right, the short answer is for us to establish a cloud infrastructure. Thanks for having me. Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. And so, it's really about bringing that ecosystem together and helping our customers make sense of that data and then be able to make that data actionable.

And so as I mentioned earlier, from a modernization standpoint, that ongoing value is critical to that symbiotic relationship. We have customers telling us today, Not only do I want to be lean, but I want to be autonomous as well. location.reload(true); Que Dallara who most of you know, our President and CEO has done an amazing job in conjunction with Darius and Greg on building a very experienced leadership team. Press Esc to cancel. Alex, are you still there? You know, they have the largest market cap.

So look, Honeywell Connected Enterprise revenue and order swap 20% in the second quarter so clearly having success. Is this happening to you frequently?

So the result is theyve got hundreds of silosnot just data silos but operating silos and process silos and equipment silosplus hundreds of data models that are all completely fragmented., (To gain more insight into the Honeywell Forge strategy and capabilities, please check out our full video interview with Trice in this episode of the Cloud Wars Live podcast.).

The employees and the service work, and everybody else are experiencing as they enter the building as they move through the building and taking it to the next level if you will, on that magic of software, I like to call it. And developing that level of trust helps the customer as well as helping us because it creates a two-way road with the customer. We may solve a very siloed nature problem. And so as we move forward, I think the expectations investors should have is that, you'll continue to hear from us about progress that we're making, about you know, where we think we can take a business and about, you know, how we help Honeywell more broadly from a software standpoint, not only within Connected Enterprise, but how we help our business groups as well using the power of software. window.location.href = redirect_url + app_name;

jQuery(".login-button").addClass("dis"); Yes sure. This field is for validation purposes and should be left unchanged. And as I described in my kind of my opening presentation, the approach that most of our customer base have taken historically - in how they manage their factories or their warehouses or how they go after process has really been more on a consulting basis and a building over time basis. It's been a pleasure and thank you for joining us. This class of offerings, which includes Honeywell Forge Connected Warehouse, will help organizations simplify operations and lower costs by providing increased visibility to data as well as real-time insights, monitoring and automation.

jQuery(".mo_btn-mo").prop("disabled",false); With a market value, including debt, north of $128 billion, it is one of the largest industrial enterprises in the world. To meet those customer demands, Trices Honeywell enterprise-software team is evangelizing a strategy of lean and autonomous: using digital solutions to create data-driven operating models that not only reduce costs but increase productivity and, ultimately, enhance the experiences of building occupants. And what I would say is that, if HBT was a lead horse, I would put industrials behind them. Thats good news for Honeywell investors. else{ And so it goes without saying that TCO is critical in that dialogue. Like I said earlier, they've been hyper focused on the broader, I would say information or IT side of things. And as I mentioned in the previous, we've seen good momentum on that so recurring revenue growth has been very strong for Connected Enterprise. That's obviously not to say that we don't work with partners outside and as I mentioned, that's a key part of our strategy as well. You know, Honeywell Connected Enterprise really has grown over the last three years. We are very focused on software within Honeywell, and so really utilizing the leverage that we have from a Forge standpoint and then making that extensible to our customer base. And if trade tensions subside, investors can get back to worrying about something else. So it's not only as I previously mentioned, helping our customers think through what that long-term solution is. We always hear about the complexity of the market.

One year later, that hyperevolution had reached the point where 63% of all Honeywell engineers are. Honeywell trades for about 21 times estimated 2019 earnings, above its historical average, but only a little higher than other large aerospace companies. We have a very focused strategy as you've probably heard Darius and Greg talk about. Got you. Many of them obviously have already started to shift to public cloud and like I mentioned, and this is true across most of our customer base. And so, I think it's a very fair statement. This is a software that is very inextricably linked to the hardware solutions that we provide, she told the crowd.

And that, and SAP is a good example of that. Predictive maintenance and asset health monitoring provide leaders with new capabilities to improve operational performance and increase asset availability.

Industrial gross margins are about 26%. wincc hmi open factory easier manufacturing offers software automation shuttle integration odbc connectivity supports database industry standard That would further a transformation effort that was already under way in 2018, when Honeywell spun out

A lot of them have been focused on industry type solutions, and a lot of times those solutions are focused on kind of the very generic scenario and/or partnering with the ecosystem. Sparta you guys closed a $1.3 billion acquisition in February.

In October of 2018, Adamczyk launched Honeywell Connected Enterprise as the digital engine to greatly accelerate the evolution into not just a company that writes some software but rather one that views the world and behaves like a software company.

So when you think about the criteria showing that value to customers and showing it, helping them realize that it is becoming real.

Yes, it's a great segue actually from the previous question.

We really need to help problem solve with the customer help them think through challenges and then how we fix those challenges as with all SaaS offerings. jQuery(".mo_btn-mo").attr("disabled", true); You will receive a link to create a new password via email. I think it's fair, I would say that, I think Honeywell Forge in a lot of ways made its name on the back of buildings it's kind of being the lead horse if you want to describe it that way. So you know, as I think, many of you are familiar with the space itself, many of our customers are either in the process or already, well down the road of migrant the infrastructure or, end use applications to the cloud, and thinking about what that overall ecosystem looks like. And I think Bank of America does have a very unique approach to industrial software and automation.

We also believe these enhancements to our existing offerings will drive more efficiency and add new operational capabilities across the industries we serve. We're in cyber - we're in arrow. Moving to the initial phases of public cloud, starting to get some of their base infrastructure like CRM or HR applications or information worker applications, too moving more towards the operational technology side and connecting the dots on that last mile whether that's on Azure or AWS or global cloud really helping customers bridge that gap if you will. We have many of the key companies in our coverage presenting, and of course the largest, most important company we cover right now is Honeywell. wincc hmi open factory easier manufacturing offers software automation shuttle integration odbc connectivity supports database industry standard And now what we're looking to do is really expand that - the Sine acquisition is a great example of that where we move beyond kind of - that's call the infrastructure of the building and move now to what the people moving around the building.

That software companya mix of industrial platform and operational data architectureis the core component within the parent companys even more-expansive Honeywell Connected Enterprise initiative launched by CEO Darius Admaczyk and led by tech veteran Que Dallara, who serves as president and CEO. This copy is for your personal, non-commercial use only. Thank you for being the opening keynote speaker. Honeywell International var cookie_name = "redirect_current_url"; ", Enhancements to Existing Honeywell Software Solutions. SAP as I would say thats a good example of where we are really trying to help customers stitch together - various systems that they've got. } Honeywell International Inc. (NASDAQ:HON) BofA Industrial Software & Automation Summit 2021 September 21, 2021 9:00 AM ET, Mike Spencer - VP and CFO, Honeywell Connected Enterprise. An error has occurred, please try again later.

Management said Tuesday software sales last year totaled about $3 billion, or 8% of estimated 2019 sales. And so within this system of record making that actionable requires us to provide intelligence within that system.

So there's a few from my standpoint, there's a few big challenges that I see. And the ability to set up the employers management of their employees and their ability to lock in for example and check into a building versus needing to checking with the security guard and do that remotely and manage their employees that way. Any descriptions of future product direction, intended updates or new or improved features or functions are intended for informational purposes only and are not binding commitments on us and the sale, development, release, locations of availability, or timing of any such products, updates, features or functions is at our sole discretion.

We're not actually where we want to be today. And so, as I mentioned in the initial problem set statements - being able to do that in an efficient manner that allows workers to use real time data to make decisions, to handle predictive maintenance issues, things like that.

And so, we have a unique opportunity to really step in and fill that void with customers. And seeing from the other side of the coin, seeing what that last mile connectivity is and where it is and where it is from a phasing standpoint. And then as you've probably heard us talk a little bit about, we've got a lot of momentum in business. The parallel I would give you to put some put some context around this is, if you think about CRM and what salesforce has done for the management of sales and field service and customer service, all which used to be in disparate systems and architectures and data models, Honeywell Forge is becoming the system of record from an operational technology standpoint, deploying an enterprise-wide scalable solution through software with end-use applications in a SaaS structure. And the company definitely digital transformation is at the heart of the company strategy going forward. I think you're on mute. And all that disconnectedness has surged to the surface here in 2020 as the COVID-induced economic slowdown has led many industrial companies to clamp down aggressively on costs, particularly operating expenses, Trice said. But I'll look back to Andrew now and we can get going on Q&A. I would just say the problem sets are similar in nature. You know, at the core of it, the industrial space is very complex across many different verticals and many different problem sets.

We continue to like the companys strong balance sheet and de-risked pension plan at this point in the cycle, Dray wrote. Positioning itself as the ERP system for industrial operations, Honeywell has created and is rapidly expanding its very own software and digital-expertise factory called Honeywell Forge.



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