EDMONTON, AB / ACCESSWIRE / June 28, 2018 / OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX-V: OSS, OTCQB: OSSIF)is pleased to announce that its wholly-owned subsidiary, OneBridge Solutions Inc. ("OneBridge"), has engaged with another Fortune 500 energy company (the "Client") who will be conducting a proof of concept in the use of the Company's Cognitive Integrity ManagementTM ("CIM") software-as-a-service ("SaaS") solution for segments of its transmission pipeline infrastructure ("Pilot Program").
"It is very exciting to have garnered the interest of a supermajor oil and gas company to participate in our Pilot Program," stated CTO Brandon Taylor. "We have worked closely with this Client's and Microsoft's personnel during the past few months, to demonstrate the high value proposition that our Machine Learning and Data Science solution, and the advantages that shared learning through the use of Cloud computing can provide. We are very pleased that we have now progressed to the Pilot stage, which we believe may ultimately result in this Client adopting CIM to drive predictive analytics for its entire pipeline infrastructure in the future."
About the Client
The Client is a publicly traded oil and gas company and is one of the six supermajors in the industry, ranking among the world's largest integrated refiners, marketers of petroleum products and chemical manufacturers. The Client is recognized as a progressive industry leader, focused on innovation and digital transformation of its business, and a user of Microsoft Azure and other cloud platforms.
About the Pilot Program
Pursuant to the terms of the agreement, OneBridge will normalize the Client's inline inspection ("ILI") data for segments of its pipeline, ingest the data, classify features per an alias classification model, align features, and calculate anomaly growth rates. CIM provides revolutionary Pattern Detection and Interacting Threats algorithms using data science and our proprietary Machine Learning algorithms, which are designed to detect unknown threats to pipelines over time using Predictive Analytics, as well as advanced business intelligence, graphical presentations, and reporting of the data that operators require to manage their pipeline infrastructure.
The Pilot Program, using a "succeed fast/fail fast" approach, will accommodate a full evaluation of CIM by the Client within weeks. The objective of the program is to allow the Client to utilize CIM as a key component of its integrity management process during a proof of concept period using its own data. The initial revenue associated with this contract is a nominal fixed fee which recovers OneBridge costs associated with the project.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (MSFT) 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 Data Science and Machine Learning to apply predictive analytics to big data, which 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
Dwayne Kushniruk, CEO
Sean Peasgood, Investor Relations
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SOURCE:OneSoft Solutions Inc.
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