SOFTWARE & SYSTEMS
DIGITAL TECHNOLOGY
RELAYR
DIAMOND PROCESSING INDUSTRY GOES DIGITAL
• Thanks to a partnership with relayr, Coborn
is adding new digital services to their
diamond grinding machines which will
improve product performance and therefore
increase asset utilisation for the customer.
• The long-term strategic alliance will also
add an innovative pay per use model
which will make financing Coborn grinding
machines easier for UK and European
customers.
Romford based Coborn Engineering
Company Limited, a global provider of
engineered solutions for the diamond
industry, and Berlin located relayr, a
specialist for industrial solutions in the field
of Internet of Things (IoT), have formed a
strategic alliance. The purpose of this long-
term partnership is to develop Coborn’s
diamond grinding machines into smart
equipment by installing digital services in
their products.
Thanks to anomaly detection through
relayr’s AI-based analytics, data collected
from Coborn’s machines will allow them
to determine and resolve failures in
advance. Delivering pre-emptive service
to each diamond customer will enable
Coborn to offer machines with guaranteed
performance and availability targets. Each
machine will also come with an insurance
policy to support these guarantees.
As an additional feature, Coborn will be
offering a pay per use business model for its
equipment, also known as an Equipment as
a Service (EaaS) model. EaaS is an innovative
business model in which Coborn‘s diamond
grinding machines are not sold but made
available for a usage fee. Coborn will remain
responsible for maintenance, service, repairs
and spare parts. This model makes Coborn’s
products easier to finance for companies
in the diamond industry, especially in
emerging markets.
Partnering with relayr will enable Coborn to
deliver business solutions to their customers
through a unique blend of technology,
finance, and insurance offerings. This
unrivaled approach will provide a distinct
level of tailored customer support and
services whilst guaranteeing the uptime
of Coborn’s Intelligent Machines. In turn,
Coborn customers will be able to increase
their productivity and receive exactly the
services they need.
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PECM Issue 40
For Coborn, cooperation with relayr is
decisive for the further expansion of the
company:
“Coborn is the only global company that is
totally focused on grinding and polishing
all types of diamonds. Our company is a
vital part of the diamond industries value
chain. The partnership with relayr is a
unique opportunity to provide engineered
solutions, both technical and commercial,
to support the continued growth of the
industry by predictive maintenance,
controlled machine downtime and
ultimately, process optimisation. It will
enable our customers to realise the full
potential value from our machines,” explains
Steve Westlake, Managing Director at
Coborn.
“OPEX Revenue models like EaaS are
fundamental to the successful digitisation of
any industry. We are proud to help Coborn
grow through our intelligent technology,
supply expertise, insurance products,
and financing options. Our goal is to be a
strategic partner to Coborn and ensure their
success across the board and ensure that
we bring the power of relayr’s technology,
and coupled with the financial tools and
strength of Munich Re Group, for Coborn
and their customers. Coborn are set out to
disrupt their market, and as relayr we will
be by their side to help.” adds Josef Brunner,
CEO of relayr.
Digital transformation is one of the greatest
opportunities for the global diamond
industry. Digital technologies, especially
the Internet of Things, will affect not only
diamond processing but all parts of the
value chain of the diamond industry and will
have a huge impact on increasing efficiency
and productivity. The partnership between
Coborn and relayr will make a significant
contribution to further advancing this
development.
www.relayr.io/coborn/