Formic, a leading player in the automation sector, has successfully collaborated with ICON Injection Molding to provide Robotic-as-a-Service (RaaS) solutions, revolutionizing the way automation is perceived and implemented across the manufacturing landscape in America.
ICON Injection Molding, an Arizona-based company that specializes in creating plastic components for laboratory and defense applications, identified the need for automation to enhance efficiency and safety. However, hurdles such as the necessity of upfront capital, the associated risk, and the requirement of specialized expertise posed significant challenges.
The company, which counts Axon among its clients, was particularly keen on eliminating potential risks to its workforce from hazardous, monotonous tasks that could lead to injuries and employee turnover. These factors could have a ripple effect, leading to operational inefficiencies and increased costs for end-users.
Formic’s RaaS solution emerged as the perfect answer to ICON’s needs. The RaaS model offered by Formic is a risk-free alternative that guarantees effective, immediate access to automation with no upfront expenses and uptime commitments. This partnership has proven highly successful since its inception.
Nicole Kleitsch-Killam, ICON’s chief administrative officer, who has been with the company for a large part of its journey, acknowledges the hurdles that often deter companies from embracing automation. She notes that the high initial investment often makes automation a costly affair.
“Automation is not a ready-to-use solution that one can purchase off-the-shelf. It requires a customized approach,” she says. “As a custom injection molder, our work involves running different jobs on our presses every day. Many automation companies tend to lock you into a specific solution. Formic, however, has provided us with complete flexibility without any binding commitments – a truly mutually beneficial association.”
Formic’s RaaS offering includes comprehensive robotic solutions from top-tier robotic vendors such as Fanuc, Universal Robots, and Yaskawa Motoman. Customers are charged on an hourly basis for usage. Formic takes complete ownership of the robots, taking care of programming, installation, and maintenance at its own expense.
The company operates a unique business model where customers are not required to pay until the system is fully operational on their premises. Furthermore, Formic takes care of all engineering and repair and maintenance costs once the new systems are activated, without charging any hourly fees during any downtime.
Misa Ikhechi, Formic’s co-founder and VP of product and partnerships, emphasizes the company’s customer-centric approach. “Our holistic strategy and Pay-for-Productivity model makes sophisticated automation accessible and simple for SMBs,” she says. “We always prioritize our customer’s best interests, which means we are technology agnostic. Unlike other companies offering RaaS services that have a single tool to solve every problem, at Formic, the best solution wins, irrespective of who manufactures it.”
Formic’s partnership with ICON is a testament to the potential of RaaS solutions in transforming the electronics and computer industries. By eliminating the need for upfront capital and reducing risk, Formic is making automation accessible to a wider range of businesses. It is a testament to the power of innovative programming languages and coding to create flexible, efficient solutions that meet the unique needs of each business. This partnership is a significant step forward in the journey towards a more automated future.