Legacy paper-based processes can introduce errors, reduce efficiency and reduce transparency for stakeholders across the energy industry. These challenges can drive higher costs and longer equipment-delivery times while exposing companies to the risks of quality-related nonconformance and counterfeit assets.
Wipro’s Falcon solves these problems by eradicating paper-based asset documentation and digitizing the supply chain. Through the secure power of blockchain technology, Falcon empowers energy companies to create digital passports for their equipment, opening a new era of transparency and verification, and enabling real-time equipment tracking throughout the procurement lifecycle.
Once the passport finds its way into an asset system, such as a digital twin, it doesn't vanish. Instead, it continues to serve as an ever-vigilant tracking mechanism throughout the asset’s life. Falcon not only provides a single source of truth but also paves the way for cutting-edge predictive and prescriptive maintenance capabilities.
The Falcon Ecosystem
Falcon sets the gold standard for procurement and asset management in the energy industry by meeting the needs of diverse stakeholders and transforming how they operate and share data.