Oqton has been recognized by CIOReview Magazine as the recipient of “Top 20 Manufacturing Technology Solution Companies - 2021,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the CIOReview research and editorial team based on insights from an interview with Benjamin Schrauwen, Co-Founder and CEO.

Oqton
The New Frontier of Digital Manufacturing

Benjamin Schrauwen, Co-Founder and CEO

A renowned American computer scientist, author, and teacher, Gerald M. Weinberg, once said, “Problem-solving leaders have one thing in common: a faith that there’s always a better way.”
This quote perfectly encapsulates the story of Benjamin Schrauwen and Samir Hanna, the early champions of smart manufacturing processes—who believed in their problem-solving attribute to pave the way for better production environments. While working as senior executives in the manufacturing division of renowned 3D design software company, Autodesk, both Schrauwen and Hanna witnessed a common problem that existed in most manufacturing environments. There was a huge divide between different manufacturing hardware and the software that were used to program the equipment in the production environments. “Historically, businesses needed to configure different pieces of software to run different types of machinery on a production floor, and this siloed approach made manufacturing processes labor-intensive and time-consuming. This rift between production environments and tools also led to a relatively slower rate of new product introduction and inefficient use of equipment,” comments Schrauwen.

Understanding these impediments of manufacturers and believing that there’s always a better way, Schrauwen and Hanna envisioned a manufacturing operating platform that would automate the entire manufacturing process and save weeks of programming time and engineering overheads for any entity involved in the manufacturing process. “The culmination of decades of development in the cloud, artificial intelligence, sensors, robotics, and additive manufacturing, in this regard, can unlock the door to connected and adaptive factories,” notes Schrauwen. With this notion, Schrauwen and Hanna set out to create an AI-driven factory operating platform that deeply integrates engineering software with manufacturing hardware. By leveraging their years of experience in the computer-aided design (CAD) space and robotics, the duo brought their vision to fruition with Oqton—a company that delivers a completely new approach to manufacturing.

“At Oqton, we leverage modern AI techniques to maximize the utilization of the manufacturing equipment and rapidly introduce new products on the production floor,” underscores Schrauwen, CEO of Oqton. The company helps businesses in not only tracking the production environment but also driving and programming those equipment, CNC machines, robots, and 3D printers in a completely integrated manner. “Our core mission is to make autonomous manufacturing accessible to companies of all sizes, enabling continuous flexibility and adaptability of manufacturing processes,” Schrauwen further highlights.

Oqton’s eponymous cloud-based IoT platform enables just that. It is both hardware and software agnostic and can be easily integrated with any enterprise resource planning (ERP), product lifecycle management (PLM), or manufacturing execution system (MES) systems being used on the production floor. The platform can, therefore, facilitate planning, scheduling, and logistics functions to help manufacturing companies make more informed decisions—right from the initial design phase through to the post-processing stage of the manufactured products. Moreover, Oqton leverages AI to automate, simplify, and streamline the repetitive manual programming of manufacturing machines. The CEO explains that because of such technological augmentation, the Oqton platform can even track the performance of all connected machines, and in case of any anticipated machine downtime, the scheduling algorithm of the platform can automatically reassign work to other available machines, thereby minimizing any interruption to the production workflow.

At Oqton, we leverage modern AI techniques to maximize the utilization of the manufacturing equipment and rapidly introduce new products on the production floor

One Production System for Different Industries

Oqton’s platform caters to a multitude of industries and use cases, including medical, aerospace, and identification and inspection, assisting professionals like dental prosthetics manufacturers, additive manufacturers, robotic welders, and jewelry makers, to bring forth a true manufacturing revolution. For dental prosthetics manufacturers, particularly, the Oqton platform has opened a new horizon. These entities can now connect all their additive manufacturing processes in one single platform and operate more effectively. The Oqton platform can even enable dental prosthetic manufacturers to schedule, track, and trace all actions of a dental lab environment. Additionally, the platform’s custom dashboards, reports, and alerts are accessible from anywhere on any device. Similarly, robotic welders can use the Oqton platform to configure different robotic solutions from a centralized platform. “For our robotic welding clients, we are able to take down the programming time from three weeks to just 30 minutes,” says Schrauwen proudly.

Nevertheless, the crucial role that Oqton plays in fulfilling its clients’ manufacturing needs can be best explained through a case study. A small Chicago-based 3D printing company was facing design and production challenges as their equipment was not well connected with each other, resulting in productivity loss. When the client implemented the Oqton platform, the connectivity between factory equipment improved significantly, which opened the doors for complete automation of their manufacturing process. “With the help of our Oqton platform, the client easily scaled up their operations with 50 3D printers in just two years,” says Ellen Van de Woestijne, CMO of Oqton. Satisfied with the extraordinary results Oqton’s client got, they said, “The tools that Oqton is building are absolutely going to become a standard for this kind of mass production of colored parts.”

Committed to transforming the manufacturing space with many similar success stories, Oqton is now laser-focused on maintaining its status as a trailblazer in its domain of expertise. The company is also simultaneously looking at some significant partnerships with large device manufacturers and CNC machine OEMs. “These collaborations will help us offer our platform to our partners’ customers directly, which, in turn, will allow us to keep growing and expanding in the domain,” adds Schrauwen. Besides, Oqton is all set to cement its foothold in new markets and industries over the next couple of years. “The coming months will be all about expansion for Oqton. We are looking forward to penetrating different market verticals by tailoring our product based on clients’ needs,” concludes Schrauwen.

Oqton

TRUMPF and Oqton collaborate to simplify industrial additive manufacturing workflows

Thursday, September 28, 2023

AI-powered manufacturing software company Oqton and high technology manufacturer TRUMPF have integrated their 3D printing software and hardware to streamline industrial additive manufacturing.

The integration of Oqton’s 3DXpert software and TRUMPF’s TruPrint range offers a seamless additive manufacturing workflow, making the technology accessible to a wider range of organizations.

“As a machine manufacturer of LMF-machines, TRUMPF aims to offer a complete solution to our customers, that satisfies all their needs. Therefore, we focus on our core competencies in machine development and process optimization for the highest quality and performance and also cooperate with external partners like Oqton, to find the best solution for a smooth user experience,” says Timo Degen, product manager for TruTops Print and Data Preparation at TRUMPF Additive Manufacturing.

“We’re excited about the collaboration with TRUMPF because it takes 3D printing closer to the mainstream,” says Roy Sterenthal, vice president, industrial additive, Oqton. “Many manufacturers have already come to rely on Oqtons’ 3D printing software and TRUMPF’s TruPrint machines to dependably deliver quality products. This integration will help TruPrint even more customers to adopt 3DXpert and all its benefits and capabilities.”

Oqton 3DXpert: a one-stop shop for industrial additive manufacturing

Oqton accelerates intelligent manufacturing with comprehensive software solutions for additive production and 3D scanning — helping organizations drive innovation and efficiency. 3DXpert is Oqton’s all-in-one 3D printing software, bringing all processes into a single environment, from tools for design for additive manufacturing (DfAM), through build preparation and simulation, to inspection.

TruPrint: Premium quality 3D printers

TRUMPF is a high-tech company offering manufacturing solutions in the fields of machine tools and laser technology. The company drives digital connectivity in manufacturing through consulting, platform products and software. TRUMPF’s metal 3D printing machine range includes TruPrint 1000, 2000, 3000 and 5000, all of which deliver premium-quality prints.

Seamless solution for industrial 3D printing

With the collaboration, TRUMPF’s TruTops Print slicer has become integrated with 3DXpert, enabling users to optimize designs for 3D printing, prepare build jobs and create the print files for TruPrint machines all in the same interface.

Additionally, TRUMPF officially recommends 3DXpert to its customers. Organizations using TRUMPF printers have access to 3DXpert official and certified support, helping them tailor their workflow to their needs.

Baker Hughes integrates Oqton software for AM efficiency

Wednesday, September 25, 2024

HOUSTON - Baker Hughes, a global energy technology company, has successfully implemented Oqton Manufacturing OS, a software solution for additive manufacturing (AM), at its central facilities in Houston, Texas. This deployment, a result of a commercial software agreement with Oqton , a subsidiary of 3D Systems (NYSE:DDD), marks a significant advancement in the use of AM technology in regulated industries.

The Oqton Manufacturing OS is designed to streamline the manufacturing workflow from part design to inspection and certification, thus improving efficiency and scalability for Baker Hughes. By integrating this software, the company can now manage its AM processes more effectively, with real-time monitoring capabilities that have led to a 98% reduction in active monitoring engineering time and an 18% reduction in costs associated with scrap.

The software provides a comprehensive solution that covers order management, engineering, digital warehousing, and production monitoring. It is tailored to meet the high reliability requirements of regulated industries, ensuring full traceability from raw material to finished component.

Jim Apostolides, Senior Vice President of Enterprise Operational Excellence at Baker Hughes, highlighted the software’s ability to automate complex processes and maintain quality assurance at scale. The successful implementation of Oqton Manufacturing OS is expected to catalyze the use of additive manufacturing in highly regulated industries.

The global manufacturing operations management software market is anticipated to grow significantly, with projections exceeding $52 billion by 2032. This growth is driven by the demand for manufacturing automation and the need for efficient production methods.

In other recent news, 3D Systems Corporation has faced a series of adjustments from financial analysts. Lake Street Capital Markets reduced its price target for the company to $4.00 from $6.00, still maintaining a Buy rating. Similarly, Loop Capital adjusted its outlook, reducing the price target to $2.00 from $4.50, while advising investors to maintain their holdings. Cantor Fitzgerald also lowered its 12-month price target to $3.75 from $5.50, yet kept an Overweight rating.

These revisions followed the company's report of a decline in consolidated revenue for the first half of 2024, primarily due to weaker hardware sales. Despite this, 3D Systems announced a nearly $250 million contract in the dental sector and plans for the expansion of new dental technologies. The company also highlighted reduced long-term debt and strong cash reserves.

In a recent earnings call, 3D Systems projected full-year revenues between $450 million and $460 million, driven by anticipated sales growth in the latter half of 2024. The company has amended its 2015 Incentive Plan, introducing 4 million new shares available for awards and extending the plan to 2034. It also regained compliance with New York Stock Exchange listing standards. These recent developments reflect the company's strategic plans amidst the challenges and opportunities it faces.

InvestingPro Insights

In light of Baker Hughes' strategic implementation of 3D Systems' Oqton Manufacturing OS, it's pertinent to consider the financial health and market performance of 3D Systems (NYSE:DDD) itself. InvestingPro data shows that 3D Systems has a market capitalization of $251.12 million as of the last twelve months leading up to Q2 2024. This valuation reflects the company's presence in the market, albeit with a notable P/E ratio of -0.71, indicating that investors are currently facing losses on their investments relative to the company's earnings.

Revenue for 3D Systems during the same period was reported at $454.8 million, with a gross profit margin of 41.28%. However, the company experienced a revenue decline of 11.59%, which suggests challenges in growth despite the positive gross profit margin. The operating income margin stood at -21.58%, underscoring the company's struggle to translate its gross profits into operational profitability.

InvestingPro Tips highlight that 3D Systems is quickly burning through cash, which is a critical factor for investors to consider, especially in the context of Baker Hughes' adoption of their software, which may impact future cash flows. Additionally, the stock price has shown considerable volatility, with a 12.15% drop in the past week alone, and analysts are not expecting the company to be profitable this year. For investors interested in a deeper dive into the company's prospects, there are 17 additional InvestingPro Tips available, providing a more comprehensive analysis at https://www.investing.com/pro/DDD.

These financial insights and InvestingPro Tips offer a nuanced view of 3D Systems' market position, which could be influential for stakeholders in Baker Hughes and other companies considering the integration of 3D Systems' technology into their operations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Top 20 Manufacturing Technology Solution Companies - 2021

Company
Oqton

Management
Benjamin Schrauwen, Co-Founder and CEO

Description
Oqton is a provider of an AI-driven factory operating platform that deeply integrates engineering software with manufacturing hardware. Oqton’s platform caters to a multitude of industries and use cases, including medical, aerospace, and identification and inspection, assisting professionals like dental prosthetics manufacturers, additive manufacturers, robotic welders, and jewelry makers, to bring forth a true manufacturing revolution. For dental prosthetics manufacturers, particularly, the Oqton platform has opened a new horizon. These entities can now connect all their additive manufacturing processes in one single platform and operate more effectively. The Oqton platform can even enable dental prosthetic manufacturers to schedule, track, and trace all actions of a dental lab environment

Oqton The New Frontier of Digital Manufacturing