Cooperative Adopts OneSoft's SaaS Solution to Optimize Pipeline Operations
OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has announced a significant partnership with a large US-based cooperative that will adopt its Cognitive Integrity Management (CIM) software-as-a-service (SaaS) solution. Following thorough due diligence, the cooperative aims to optimize pipeline integrity and data management. The CIM production trial demonstrated that it could reduce the need for pipeline excavations and inspections compared to legacy analytics, potentially lowering maintenance costs. This move underscores OneSoft's commitment to innovative data management in the oil and gas sector.
- New partnership with a major US-based cooperative for CIM software adoption.
- CIM trial showed potential for significant cost savings in maintenance.
- Reduction in pipeline excavations and inspections compared to legacy systems.
- None.
EDMONTON, AB / ACCESSWIRE / March 23, 2022 / OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) ("OneSoft") is pleased to announce that a large US-based cooperative is the latest customer (the "Client") to have adopted Cognitive Integrity Management ("CIM"), the software-as-a-service ("SaaS") solution developed by OneSoft's subsidiary, OneBridge Solutions Canada Inc. ("OneBridge").
CIM was selected following an extensive due diligence process conducted by the Client, with the objectives of optimizing its pipeline integrity and data management systems. The CIM production trial, performed in collaboration with the Client's personnel, focused on using CIM to automate manual work efforts and to leverage advanced data management and analyses to improve operational efficiencies and reduce costs.
As part of the production trial, various data sets for a segment of pipeline were integrated and aligned, enabling CIM to perform advanced data analyses which identified that significantly fewer pipeline excavations and inspections would be required, compared to use of legacy analytics processes.
Brandon Taylor, OneSoft President stated, "The production trial for this Client reaffirmed that CIM can save maintenance costs by using more data and superior analytics to make better operational decisions, which ultimately drive efficiencies and cost reductions. The type of scenario investigated in this production trial was discussed in detail in our Repair Fraction white paper that was presented to pipeline operators at the PPIM tradeshow event in 2020, which presents metrics that approximately half of the pipeline excavations done historically, based on analyses using legacy systems, were unproductive."
About the Client
The Client is a US-based global cooperative that operates several business units including refineries and pipelines in the U.S.A. and Canada, with a strong focus on environmental responsibility, integrity, safety and compliance to Company internal and regulatory standards.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises licensed software applications to operate on the Microsoft Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Science and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs, and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact.
| OneSoft Solutions Inc. Dwayne Kushniruk, CEO dkushniruk@onesoft.ca 587-416-6787 | Sean Peasgood, Investor Relations Sean@SophicCapital.com 647-494-7710 |
Forward-looking Statements
This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects", "believe", "will", "intends", "plans" and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: the impact of Covid-19 on the business operations of the Company and its current and prospective customers, the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.
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SOURCE: OneSoft Solutions Inc.
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