Fiatech is an international community
of passionate stakeholders working
together to lead global development
and adoption of innovative practices
and technologies to realize the highest business value throughout the life
cycle of capital assets.


5% reduction in equipment capital costs, $millions/year. Quantifying the cost of the lack of interoperability in the capital projects industry is the subject of a National Institute of Standards and Technology (NIST) study, “Cost Analysis of Inadequate interoperability in the U.S. Capital Facilities Industry,” which estimates yearly losses at close to $16 billion within the U.S. A large owner-operator company did an internal study in cooperation with its EPCs and suppliers that estimated the benefits from interoperability for just procurement of equipment to be at least 5% annually. Other studies from the Construction Industry Institute (CII) and NIST have estimated that significant improvements in the automation and integration of software systems in the capital projects industry could be worth up to 8% of total project capital cost, a 14% reduction in project schedule and 5-15% reduction in annual maintenance costs. For any large company engaged in capital projects, the benefits are potentially millions of dollars annually.