Listen to this articleBelow is our recent interview with Peter Moe, Director at BoldIQ:
Q: Peter, for those who haven’t heard of it, what is the best way to describe BoldIQ?
A: At BoldIQ, we work towards an entirely demand-driven world, uninhibited by the constraints of supply, timing and disruption. This is a world where everything is available when and where customers want, and our role is to provide organizations with state-of-the-art technology to successfully deliver on that demand.
BoldIQ’s Solver is planning and scheduling optimization software that was initially developed by a private air charter company, and BoldIQ subsequently acquired that expertise. With Solver’s success over the last ten years in the private air charter industry, this next-generation solution now also delivers advanced planning and scheduling for other mission-critical, cost-sensitive industries such as logistics, healthcare, modern transportation, construction and others.
Recommended: Quiq Raises 12.5M In Series B To Help Companies Orchestrate Commerce And Service ConversationsQ: Can you tell us something more about Solver? What is it and how does it work?
A: Solver is the cloud-based AI platform that optimizes plans and schedules in real-time and on-demand for complex services and industries. Programmed by Operations Research experts, and powered by operational AI, Solver automatically provides an optimized schedule which directly adheres to any and all industry and business rules. Solver also maintains a long-term view of the schedule for future booking requests and manages ad-hoc disruptions without having to recalculate the entire schedule.
This unique approach means that Solver reduces operational costs, uncovers previously hidden revenue, improve the customer experience and importantly, enables the business to recover more quickly from delays and disruptions. In the longer term, Solver provides them with the ability to more easily scale operations with its real-time view of operations as well as “what-if” scenario building. In short, Solver users report they free up to 30% of their resources and reduce operating costs by up to 25%, resulting in an increase in profitability of up to 20%.
Q: Which types of businesses can use your product? Can you provide some real-world use-cases?
A: With its roots in the private aviation business, Solver is the gold standard for advanced flight planning and scheduling. Since then, Solver’s Operations Research science experts have trained the optimization software to provide winning solutions in logistics, healthcare and field service management.
In logistics for instance, a large carrier was able to increase order fulfillment by over 11% using a Solver-optimized schedule, driving greater revenue out of the same resources. Another trucker was able to reduce deadhead miles with Solver, eliminating unnecessary operating costs, fuel burn, and emissions.
Faced with the unique challenges of a growing home healthcare service, Solver rapidly automated and optimized a highly manual scheduling process for a mobile work force to include a range of business, regulatory and personnel constraints, measurably contributing to the bottom line as well as patient care goals
And in aviation, Solver furthers our customer’s ability to win business in an increasingly competitive and cost-sensitive market. As one of our customers says, “Using the BoldIQ system will enable us to make integrated and informed decisions in real-time so that we can grow our business and provide our customers with world class service.”
Q: What are your core values? How do you stand out from your competition?
A: At BoldIQ, we help our customers go beyond just keeping pace with daily disruptions and increasing customer demand. We enable them to scale for growth and profitability by ensuring the greatest possible resource utilization in real-time. Moreover, our team operates with simple core values that underlie our professional and personal lives: while maintaining the highest standards of dignity and integrity, we create the future today by striving to exceed in customer partnership, proactive adaptation to change and continuous innovation.
Another advantage we have is our unique focus on solving ultra-complex scheduling problems. BoldIQ integrates into our customer’s front-end systems, which allows our R&D work to be completely focused on the back-end AI work.
Many tools exist in the market which assist in solving complex scheduling problems by artificially reducing their complexity (for instance, by using a limited rule set), or by helping users visualize their schedules. BoldIQ takes the unique approach of combining Operations Research expertise and powerful optimization software to create Solver, a real-time, on-demand advanced planning and scheduling platform for complex services and industries.
Recommended: AI Accountant Provides Nominee Director Services For Shell CompaniesQ: What are your plans for the future?
A: While continuing to improve Solver’s aviation solution, BoldIQ is focused on launching Solver widely into logistics and healthcare markets. We see a similar mix of complexity there, where optimally planning for many resources is simply not something the human brain can do on its own very efficiently. On the software side, we continue to build and train our AI so that it becomes easier and easier to use, with the goal of solving practically any complex optimization problem by natural human language input, and without modeling or programming skills.
BoldIQ is singularly positioned to fuse Operations Research science and technology expertise for advanced planning and scheduling. We have set our sights on transforming Operations Research with a generic optimization engine capable of solving a vast range of complex planning and scheduling problems. In this way, anywhere there is a mix of different processes, resources and events, and especially anywhere the schedule changes reasonably often due to disruptions, optimization will be at our fingertips.
