As companies increasingly demand virtual reality (VR) training solutions, enterprises like Virtualware are creating them for Europe and the world’s largest enterprises.
The news comes as the Bilbao, Spain-based company sponsors the Unity Unite 2023 Summit and aims to showcase its Virtual Reality-as-a-Service (VRaaS) platform, VIROO.
The comprehensive suite of solutions allows businesses to engage with immersive training services complete with hardware, software, and solutions. This allows clients to deploy, implement, integrate, and manage their XR training needs with bespoke targets and goals.
It also works with over 40 institutions, businesses, and organisations, including GE Hitachi Nuclear Energy, the Spanish Ministry of Defense, the University of El Salvador, the Spanish Administrador de Infraestructuras Ferroviarias (ADIF), and many more.
XR Today had the pleasure of interviewing David Moreno, Chief Marketing Officer, Virtualware, to explore the future of virtual reality training for the enterprise.
XR Today: What were the specific reasons for the deal on your VIROO VR trainer? Regarding work with the US energy client, which metrics did you aim to improve for workers?
David Moreno: For the past couple of years, we have established a fruitful collaboration with this energy company, signifying our dedication to sustaining the commendable work we have undertaken together.
This commitment underscores the ongoing success and tangible benefits that the company continues to derive from the effective utilization of our VR platform, VIROO, primarily in the realm of training.
This enduring partnership reflects our shared commitment to fostering innovation, efficiency, and continual improvement within their operations, reaffirming the value and positive impact that VIROO brings to their training initiatives.
VIROO contributes significantly to the improvement of metrics for this energy company, and other similar companies we work with, particularly in the areas of travel expenses reduction, enhanced employee preparedness, and increased engagement in implemented training processes.
The impact is threefold: firstly, VIROO aids in curbing travel expenses, offering a practical solution for companies seeking to streamline their financial outlays. Secondly, it ensures that workers are better equipped and prepared, resulting in heightened efficiency and productivity.
Lastly, VIROO fosters a culture of increased engagement during training initiatives, creating a more interactive and participatory learning environment for employees.
Elevating the efficacy of training programs is pivotal for companies aiming to achieve a competitive edge in the market. The starting point for this transformation is rooted in cost savings.
By investing in solutions like VIROO that enhance workforce effectiveness, companies not only save costs but also position themselves as more competitive players.
The improved preparedness of their workforce becomes a strategic advantage, enabling companies to offer higher-quality products and services. Ultimately, this heightened competitiveness becomes a valuable asset, enhancing the overall appeal and success of these companies in the eyes of their clients.
XR Today: Why was the scope of the deal so large? What does this show about Virtualware’s VIROO solution and its ability to scale according to the relevant clients?
David Moreno: The energy company has strategically adopted a long-term approach, recognizing the viability of VR technology in enhancing its training processes.
This strategic foresight stems from their trust in the effectiveness of VR, their confidence in Virtualware as a reliable partner, and their reliance on VIROO as the central platform to standardize and expand all VR-related initiatives across the company.
This comprehensive integration of VR technology represents a significant commitment to optimizing their training procedures and underscores their confidence in the enduring benefits derived from this innovative solution.
The rare and noteworthy aspect of this commitment lies in its five-year duration, a duration not commonly observed in the industry. This extended commitment positions the Energy company as a pioneer in embracing the transformative potential of VR for long-term strategic advantages.
Their forward-thinking approach not only reflects their confidence in the technology but also highlights their commitment to sustained innovation and leadership within the industry, setting a precedent for others to follow.
XR Today: What kind of return on investment does your VIROO solution provide for enterprises?
David Moreno: VIROO offers a seamless entry point into the realm of VR, empowering companies to harness the full potential of this technology.
It facilitates an end-to-end experience, enabling companies to create internal content without depending on third-party services, which are typically more expensive and time-consuming. The platform extends its utility to large-scale, multi-user scenarios, providing a realistic and secure replication of various processes.
This not only minimizes the need for physical replicas but also reduces travel expenses significantly. VIROO further promotes inclusivity by incorporating remote collaboration capabilities, allowing participants from any location to join the same VR session.
The versatility of VIROO extends beyond its initial implementation, as the platform seamlessly adapts to new devices, incorporates evolving technological capabilities—mixed reality in the latest release—and caters to company-specific requirements.
Operating on a subscription-based model, VIROO embodies the concept of VR-as-a-Service (VRaaS), enabling companies to initiate their VR journey with minimal upfront investments and the flexibility to scale rapidly as their needs evolve.
This approach encapsulates the philosophy of “think big, start small, scale fast,” offering companies the agility to explore the transformative possibilities of VR at their own pace and according to their unique specifications.
XR Today: Currently, what specific challenges exist in global upskilling and preparedness?
David Moreno: Industries characterized by extensive workforces requiring high levels of specialization and experience often encounter significant challenges in effectively training their personnel.
Financial constraints or logistical limitations frequently impede the ability to recreate the specific environments essential for skill development. In some cases, existing training methods may lack the realism necessary to enhance overall performance.
Examples such as the energy, transportation, and defense sectors exemplify industries facing these hurdles, yet they are experiencing rapid growth driven by the compelling training needs and proven return on investment (ROI) associated with the introduction of virtual reality (VR) solutions tailored to their unique requirements.
Conversely, original equipment manufacturers (OEMs) in the aerospace and automotive industries stand to reap substantial benefits by embracing these technologies for design and engineering purposes. The integration of VR not only leads to cost reductions but also enhances overall process efficiency, showcasing the transformative potential of these innovative tools in optimizing operations and driving advancements within these sectors.
XR Today: What do your more than 40 global partner companies reveal about the efficacy and adoption of VR? Just how dynamically applicable is VR training across industry verticals?
David Moreno: They reveal VR and immersive technologies are here to stay, emphasizing the crucial role of business software tools like VIROO in accelerating their adoption in the enterprise.
A substantial hurdle for companies lies in the fear and risk aversion associated with introducing new technologies into previously functional processes, whether in training or engineering.
To address this challenge, companies like Virtualware must actively comprehend these concerns and play a proactive role in guiding industries to take incremental yet meaningful steps towards securing buy-in for broader adoption.
We understand that corporate process changes can be gradual. Initiating small steps while envisioning the substantial impact that immersive technologies could have on your company in terms of efficiency, quality, or cost reduction is essential.
Once you navigate through this initial stage, VIROO enables a rapid, seamless, and effortless scaling process using proven models, facilitating a smooth transition towards embracing the full potential of immersive technologies.
XR Today: Where do you see the future of VR training XR in 5 – 10 years? With the release of the Meta Quest 3 and Apple Vision Pro, is there any promising potential for the market, as well as your company?
David Moreno: The momentum of immersive technologies is akin to a train that has departed the station, and there’s no turning back. The enterprise market is primed for substantial expansion in the realm of XR technologies over the next few years.
While the exact valuation of the XR market in enterprises may be uncertain, one thing is clear: widespread adoption is underway, and there are no signs of it slowing down.
Once a company embraces immersive technologies with the right strategy, collaborates with reputable providers, and integrates the technology into its processes, tangible results emerge, indicating a clear trajectory toward rapid scaling.
As a company, we stand prepared for the future. Virtualware is exceptionally well-positioned to capitalize on emerging opportunities in the coming years.
With two decades of expertise, a seasoned team of over 40 professionals, and the accelerating growth of VIROO, our VR platform, we are already serving as a preferred choice for industrial and educational clients. The market is increasingly recognizing the value of VIROO and our innovative proposition of Virtual Reality as a Service.
Lastly, in April of this year, Virtualware achieved the status of a publicly listed company. This milestone not only enhances our visibility and credibility but also positions us to attract top-tier talent.
It provides us with access to financial resources and opens avenues for potential inorganic growth in the coming years. This strategic move solidifies our commitment to being a pivotal player in driving the development and widespread adoption of immersive technologies.
For more information, kindly visit https://www.virtualwareco.com/.