The global Testing, Inspection and Certification (TIC) market is growing rapidly, driven by increased quality management and ethical requirements, as well as tightening regulations. This market is also changing radically, as it experiences a complete technological revolution, with traditional TIC services now in decline in favor of digital alternatives. The current traditional processes are expensive, complex and unreliable, as real-time inspections are not feasible on remote locations. The digital alternatives are not yet fully automated and lack the tools to guarantee a full inspection. With a growing and diverging list of standards, new supply chain laws that impose strict fines for non-compliance, companies in the manufacturing and retail sector struggle to overcome the current supply chain inspection and monitoring challenges. As a result, over half of all retailers consider supplier quality their main challenge, and ethical sourcing is a priority for over 80% of them.
Our team of experienced experts in the remote inspection field has developed the CYRACO platform, a unique and patent-pending tool that provides reliable, efficient and real-time remote factory inspections. It combines Augmented Reality, Cloud technology, 5G connectivity, Artificial Intelligence, IoT and smart sensors to offer completely automated and fail-safe factory inspections in real-time. As a result of the improved efficiency and automation, it also reduces traditional inspection costs by 80% and thus democratizes supply chain inspection and monitoring for all companies, large and small, promoting supplier accountability and paving the way towards real ethical sourcing.
