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VisionMonitor Aviation LLC. |
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March 18, 2013 Issue |
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The Most Powerful Name In Corporate News and Information |
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With Software Solutions that Collect Data from a number of Different Software Systems, Vision Monitor Aviation LLC is providing a One-Source Data Dashboard to enable Aviation, Energy, Petrochemical, Refining and Utility Companies to better Manage their Environmental Performance |
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Torgeir
Mantor VisionMonitor Aviation, LLC (www.visionmonitoraviation.com) is part of the VisionMonitor Software Group (www.visionmonitor.com), which was founded in 2001 and is headquartered in Houston, Texas. VisionMonitor was originally formed to provide energy companies enterprise wide software solutions for managing their environmental performance. The organization has since expanded into the Aviation industry with the input and support of leading Aviation safety experts and major aviation companies. VisionMonitor solutions are in use by major companies representing the Aviation, Energy, Petrochemical, Refining and Utility industries. For more information go to www.visionmonitoraviation.com. |
Software Solutions
VisionMonitor Aviation LLC.
www.visionmonitoraviation.com |
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Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – March 18, 2013
Mr. Mantor: Initially, we started as a company with the vision of creating software for environmental management. This was in 2001 and we have since that time moved into the area of safety particularly focused now on the aviation industry. We see that industry as probably leading in the area of safety and safety performance. So today we are servicing a broader market. We service the energy markets as well as the aviation market both in the area of environmental and safety related software and services.
CEOCFO: Would you give us an example of some of the common issues that your software addresses? Mr. Mantor: That is a good question. I think all major companies that we work with have similar problems. They have a number of different software systems and data sources that have specific purposes but that are not connected. You have a tendency then to operate within departmental boundaries. When you have concerns like safety and the safety process, you need to look at the entire operation of the company and how you collect data from these various sources and correlate the data so that you can actually manage that process utilizing technology like our software. One of the things that we have found is that we collect data from a number of different software systems and provide a one-source data information software for decision makers. When we first talked to companies about this, they told us they had tried to do this many times before but they could not integrate the systems despite a number of efforts on the way to do so. We are not trying to actually integrate these systems they have but rather we use the data they already have in their organization and pull that data into our system and then give them a dashboard of insight into where they are in their operation.
CEOCFO: What types of data do you put together and what is the format? Mr. Mantor: We pull data that maybe raw data or it may be data that is already validated and analyzed. It depends on the system and where it comes from. We have a validation methodology within our software to ensure that the data that is provided is accurate. For instance, in an airline we will pull data from their flight data management system which is a system that collects data during flights and after each flight an airline will provide this data to their internal management team. After that has been reviewed, we pull that data into our system. At the same time, we pull maintenance data, ground operations data and data from systems they have such as incident management systems. Essentially, you have data from a whole host of operations and different department within an airline. However you are usually not able to get a holistic view of the current status in order to operate in a real-time and prospective environment rather than looking backwards and just reporting of things that happened in the past.
CEOCFO: Are many airlines using or looking for this type of a system or is it more that they are happy to find out you exist? Mr. Mantor: I hope they are happy to find out we exist and some are. I think many airlines are trying to do similar things that we are doing. Most of the process today is more of a manual process. Someone is responsible for collecting data and reporting to senior management and to their quality and safety boards. We are able to automate that process and make it much easier for them and therefore less costly and burdensome for the organization. We think we are in the beginning of a trend where airlines particularly are going to have to operate with what they call performance based safety systems where you need to be able to measure your safety performance so that you have an objective way of determining whether you operate safely or not.
CEOCFO: How do you reach potential customers? Mr. Mantor: We actually have brought in airline executives and safety management personnel. We have also brought in experts in safety from the energy industry. What I found is that this is a fairly small community, so we are still approaching customers directly and mostly through networks that exist within the management team that we have.
CEOCFO: Are there any features that you would like to add to the system? Mr. Mantor: I think in general with any software company, you always have software development and improvements underway such as anything from technical things that relate to the underlying engine or you want to make it more robust or quicker. There is an ongoing process utilizing newest technology that perhaps the customer does not necessarily see but that brings value in terms of reliability, robustness and quickness of the software. Perhaps more importantly we see that the industry is moving from more of a reactive way of operating into what we would call more of a prospective way. Perhaps in the future it will be towards predictive capabilities where you can actually monitor certain things that could lead to an accident for instance and prevent that accident from occurring by monitoring what we refer to as leading indicators and avoid an accident that otherwise would have happened if you do not get the right information to the right people at the right time.
CEOCFO: How is business? Mr. Mantor: Business is very good. We had a very good year last year and it is continuing this year. We think we are in an area where our system falls in under systems that are perhaps not required today but enables our clients to operate in a way that is beneficial to them. In other words, they are operating in a very regulatory stringent environment but they are able to do that in a more efficient manner and perhaps allocate resources where they are most effective.
CEOCFO: When you start working with a company how does the implementation work? Mr. Mantor: That is a great question. It depends on the size of the company and our clients are mostly large or medium sized companies. Typically for the very large companies we will start with a division and perhaps a subsidiary or a perhaps a facility, whereas in the medium-sized companies it is more of a corporate engagement where we work closely with the company management. Even in the large companies, some of the work we are doing on the safety side goes all the way up to the CEO, COO and CFO level.
CEOCFO: What have you learned in your previous endeavors that you are able to bring to the table at vision monitor that has made a difference? Mr. Mantor: That is a good question. One of the things that I’ve learned is that very often innovation comes from the outside. For instance when we started in this business ten years ago we did not know that we would be working with what we are working with now and perhaps we thought that what we are doing now already existed was implemented and available. What we learned in the environmental side of our business is very applicable to the safety side and vice versa. In a way by working with different industries and multiple industries, we have perhaps picked up certain things that one industry does as a practice that could be very applicable in another industry. It is a matter of recognizing and being open minded in terms of what you can utilize that has already been invested in other places to improve your business.
CEOCFO: Are there other industries where you would like to be involved? Mr. Mantor: We are in the early phase of this development and we are working mostly with airlines and aviation. We also have rotary wing customers and helicopter companies. Many of those companies are servicing the energy industry so it is all in a way tied together from the transportation side to the energy side. Then you have general industrial infrastructure companies. We are working with clients who have railroads and bridges which are subject to quite a bit of scrutiny and have challenges in managing their regulatory requirements. We are just beginning in one area of the market and I think moving to a much broader focus as we grow. We would like to expand but we are taking it step by step and focusing on more of an organic growth rather than trying to expand too fast.
CEOCFO: Why should the business and investment community pay attention to VisionMonitor?
Mr. Mantor:
I think we are in the part of the operational risk management industry that
has been in focus the last couple of years but that will be even more in
focus going forward because one of the things that companies can control
regardless of outside market conditions is their own operational costs,
efficiencies and risks and we help them do that. I think that companies
today regardless of how well they are doing are always trying to manage
their resources the best way they can and that is one of the things that we
help them do. Therefore, we provide a great deal of value to the marketplace
that will hopefully be recognized by the marketplace and investors. |
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“One of the things that companies can control regardless of outside market conditions is their own operational costs, efficiencies and risks and we help them do that.”- Torgeir Mantor |
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