Honeywell's (HON) Forge Solution Selected by Lincoln Harris

Honeywell International Inc. HON recently announced that its enterprise performance management solution — Honeywell Forge — has been selected by Lincoln Harris, a real estate solutions provider, to boost building maintenance and improve occupants’ experience.

Developed as a cost-effective solution, Honeywell Forge utilizes the company’s industry-leading asset and process control technology. The software as a service solution helps owners and operators of buildings and facilities to improve the process of collecting and analyzing data from their operations and act on it.

As noted, the Honeywell Forge solution has been implemented at some of the buildings managed by Lincoln Harris in Charlotte, NC, which include Honeywell's corporate headquarters at 855 South Mint Street. The company’s advanced software solution will empower Lincoln Harris to pull numerous building maintenance data points across several sites into a single dashboard. The solution will facilitate converting real-time data into actionable insights, thus helping to manage building functions efficiently.

Honeywell’s advanced software solution will help avoid unplanned downtime and provide advanced predictive information to make the building facilities safer and more secure. Also, it will help to reduce operating expenses, lower consumption of energy and improve space optimization management.

Current Business Scenario

Honeywell has been benefiting from strength in the warehouse and workflow solutions, UOP and advanced materials businesses. In the quarters ahead, its commercial and operational excellence initiatives are likely to aid.

However, weakness across the company’s personal protective equipment business might adversely impact its near-term results. It has also been dealing with high costs and expenses and supply-chain challenges, which might affect its margins and profitability.

The company faces stiff competition from several of its peers in the industry, like 3M Company MMM, Rockwell Automation, Inc. ROK and Raytheon Technologies Corporation RTX. It’s worth noting that 3M is a key competitor of Honeywell’s Safety and Productivity Solutions business segment, while Rockwell Automation competes with the company’s Performance Materials and Technologies business segment. Raytheon Technologies competes with Honeywell’s Aerospace business segment.

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