YTWO Formative Signs Second Deal Globally

YTWO Formative Signs Second Deal Globally

Wuhan-based property developer plans to manage and support a project volume of US$ 29bn through 100 pre-fab factories over the next five years

YTWO Formative, the world’s first cloud-based, combined 5D BIM and supply chain management enterprise platform provider for the building and housing industries, today announced the conclusion of a milestone deal with MyHome Group, a leading China-based developer engaged in the development of real estate projects and city construction. MyHome represents YTWO Formative’s second global signing after the announcement of its signing with German-based CG Group on March 22nd, 2017. YTWO Formative has now reached two out of six signings that it is targeting in the first year since its foundation. The two deals with Myhome and CG Group mean that YTWO is now engaging with two property developers that plan to deliver or manage projects with total project volume in excess of US$ 33 billion over the next years.

With a strong focus on high quality and sustainability in real estate construction, Wuhan-based MyHome Group has decided to cooperate with YTWO Formative to transform and upgrade their entire enterprise through digitalisation and industrialisation. For the next 5-year plan, with total investment of around US$ 3.7 billion to US$ 4.4 billion, MyHome is planning to build 100 factories over 20 capital cities and also plans to set up 200 German automatic production lines to support the modular construction projects with total value over US$ 29.4 billion. To successfully execute its growth plans, MyHome has decided to use YTWO technology, offering an end-to-end cloud-based 5D BIM enterprise platform with an integrated product catalogue and supply chain that takes projects from concept to completion.

600 stakeholders on one platform

YTWO Formative effectively lets MyHome Group connect and manage all stakeholders, projects and pre-fab factories in one single source of truth. The signing with YTWO makes MyHome Group the first company in China that connects up to 600 stakeholders, such as contractors and sub-contractors, in a collaborative 5D BIM enterprise platform. MyHome’s target is to create up to 30% benefits in the project management process enabled by YTWO technology.

Thomas Wolf, Chairman of YTWO Formative, comments: “China is the largest real estate market in the world and one of the core regions, next to the US and Germany, that we are currently offering strategic partnerships to selected pilot clients. We are proud to have MyHome Group as our first Chinese visionary on the transformation journey of digitalization and industrialization. We will continuously accompany our partners on their transformation journeys, and do our best to support and accelerate the global building and housing industries’ advancement.”

Daoming Liu, Chairman of MyHome Group, explains: “We are very happy to have this partnership with YTWO Formative. YTWO Formative shares the same vision with us and we see the great potential for transformation through digitalisation and industrialisation. With our rapid business growth, our group is currently at the beginning of a strategic transformation. In the next 5 years, we will establish a large number of modular construction factories across China, I believe this cooperation represents a further step towards making this transformation happen. We are looking forward to connecting all our project stakeholders on one platform and to the successful cooperation with the leading provider of the solution that allows us to do so: YTWO Formative.”

About MyHome Group

MyHome Group is a comprehensive group corporation principally engaged in the real estate development, construction, and property management services. Its subsidiary, MyHome Real Estate was listed in the Shenzhen Stock Exchange in 1996. The Group’s business covers Wuhan, Beijing, Shenzhen, Chongqing, Shenyang and other large-medium cities across the nation. The company's total assets are more than US$ 2.9 billion, and land reservation is nearly 10 million m2. MyHome Group won the “China Top 100 Real Estate Stars”, and reelected the “2016 Central China Real Estate Company Brand Value Top 10", now it is nationally renowned. The construction segment of the group - MyHome Construction, with the mission of making more people quickly live in useful, good-looking, and affordable houses, and the business orientation of intelligent construction general contractor, it committed to becoming the domestic leading enterprise in modular construction.

About YTWO Formative

Established in 2016, YTWO Formative is a joint venture of RIB, the world’s leading cloud-based 5D BIM enterprise solution provider, and Flex, the global supply chain management solutions provider. Combining digitalization and industrialization, YTWO Formative offers a fully integrated end-to-end cloud-based 5D BIM enterprise platform to support the building and housing industries worldwide. The digitalized and industrialized working process can generate savings and benefits of up to 30%.

Bulk Update Tools For Tenders

Bulk Update Tools For Tenders

At iTWOcx, we are focused on building better ways for you to work with our products. Today, we want to let you know about some key updates to our Tendering Module. With this release, we are introducing a number of tools to make it easier for Tender Admins and users to update Tender packages in bulk.

Now, you can create, edit, issue addenda and send reminders to multiple packages in one go.

We set out to make this process as easy and streamlined as possible for our users, so, to begin;

Click on the Bulk Action Tools widget.

  • Pick what Bulk action you'd like to process
  • Pick the packages you'd like to update
  • Make your changes
  • Preview your changes and update your packages

Bulk Create Packages

Need to set up a number of your tender packages for multiple trades quickly?

1. Launch the Wizard by clicking on the Bulk Action Tools widget

2. Then click on the Create Package in Bulk link (All the headers are links)

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3. Start by selecting your Tender Database. Pick your trades. And click Next

This will create draft packages for you to add your documents and bidders so you can begin tendering that much quicker.

 


Bulk Issue Addenda

With this tool you will be able to send out addenda for multiple packages in bulk with our easy to user wizard.

1. Pick the packages to issue addenda for.

 

2. Select from newly available revisions or Add new documents from the Register to your addenda

 

3. Edit what packages you'd like to issue the addenda for

 

4. Preview the summary and Issue addenda


Bulk Edit Package Details

Has your tender period been extended? Perhaps your tender contact person's left. Now you can update all this information in one hit for all your packages.

1. Pick the packages

2. Select What information you'd like to edit. Make your changes

3. And notify your bidders of the changes.


Send Reminders to Bidders in Bulk

Not gotten the responses you were hoping for your package? You can now send  reminders to all the bidders on your active packages in bulk.

1. Pick your packages. Decide who you want to notify

 

2. And send them a quick reminder. 


More Great Additions

 

For more information about these changes to Tenders, Visit our Help Centre 

Thanks,
The iTWOcx Team

 

RIB signs large iTWO 4.0 deal with leading provider to healthcare industry

RIB signs large iTWO 4.0 deal with leading provider to healthcare industry

RIB Software is proud to announce the conclusion of a large iTWO deal with VAMED, the world's leading full-spectrum provider for healthcare facilities.

By expanding its existing iTWO platform, the company aims to implement all procurement processes through a state-of-the-art web-based end-to-end solution that extends the highly efficient, integrated project and enterprise management to the purchasing processes.

"The VAMED Group, as a partner to the healthcare sector, is a pioneer in the digital planning and construction of turnkey healthcare facilities. This includes not only construction and building technology, but also complete medical and laboratory technology. VAMED will organize and manage highly complex, integrated procurement and coordinated installation of medical components and technical building equipment using iTWO 4.0. As a consequence, the digitalization of hospital construction is being raised to a new level,", says Michael Sauer, Managing Director of RIB Software SE.

About VAMED

VAMED is a global provider for hospitals and other facilities in the healthcare sector. The company employs more than 17,000 people in nearly 80 countries. The VAMED portfolio ranges from project development, planning and turnkey construction via maintenance, technical, commercial and infrastructure services to the total facility management of healthcare facilities.

With its range of services, VAMED covers all areas of healthcare, from prevention and wellness to acute care, rehabilitation and nursing. VAMED is also the leading private provider of rehabilitation services and, in health tourism, with VAMED Vitality World, the largest operator of thermal spas and health resorts in Austria.

RIB Software signs large contract with Carillion plc, a leading British integrated support services and construction company

RIB Software signs large contract with Carillion plc, a leading British integrated support services and construction company

RIB Software is happy to announce the conclusion of a large deal with Carillion plc, a leading British integrated support services and construction company.

Carillion aims to implement RIB’s state-of-the-art web-based end-to-end enterprise solution across the Group to achieve highly efficient integrated project and enterprise management on a single model-based Big Data platform.

Mads Bording, CEO Europe International of RIB Software, says: "We are delighted that yet another leading construction company in Europe has chosen iTWO technology. Our goal is to accompany Carillion on the way to becoming one of the most advanced companies in the construction industry. With new thinking, new working and new technology and the consistent integration of virtual and physical building processes, we are convinced that Carillion is optimally prepared for contemporary challenges of construction companies concerning digitalization and industrialization."

Ignacio Llorden, Group CIO of Carillion plc, comments: "After an intense evaluation process of different software solutions, we chose RIB because of the highly modern and innovative approaches implemented in iTWO 4.0, especially the 5D approach and web-based technology. From our point of view, iTWO offers great potential to further optimize our business processes when planning and managing our projects. By implementing RIB's software solutions, we expect magnificent opportunities to further improve our competitiveness and extend our market position."

About Carillion

Carillion is a leading integrated support services company with a substantial portfolio of Public Private Partnership projects, extensive construction capabilities and a sector leading ability to deliver sustainable solutions. The Group had annual revenue in 2016 of some £5.2 billion, employs around 48,500 people and operates across the UK, in the Middle East and Canada.

The Group has four business segments:

  • Support services - this includes facilities management, facilities services, energy services, utilities services, road maintenance, rail services, remote site accommodation services and consultancy services in the UK, Canada and the Middle East.
  • Public Private Partnership (PPP) projects - this includes investing activities in PPP projects for Government buildings and infrastructure mainly in the Defence, Health, Education, Transport and Secure accommodation sectors in the UK and Canada.
  • Middle East construction services - this includes building and civil engineering activities in the Middle East.
  • Construction services (excluding the Middle East) - this includes building, civil engineering and developments activities in the UK and construction activities in Canada.

Disruption in the construction industry: YTWO Ltd., a 50% subsidiary of RIB Software, and CG Gruppe AG agree on a strategic partnership for the usage of the YTWO platform

Disruption in the construction industry: YTWO Ltd., a 50% subsidiary of RIB Software, and CG Gruppe AG agree on a strategic partnership for the usage of the YTWO platform

YTWO Formative, the world’s first fully integrated supply chain management (SCM) enterprise solution for real estate developers and housing companies, announces its first strategic partnership with Berlin based CG Gruppe AG, a leading German real estate developer in residential construction. The company’s performance horizon invested within the next five years totals approximately EUR 4.7 billion.

Silicon Valley based start-up YTWO Formative has developed an integrated IT platform that can virtually simulate the construction and renovation processes from design to project completion, and that allows the integration with company enterprise-wide planning and controlling (ERP). The cloud-based YTWO Platform includes a catalogue of products and prefabricated construction parts, as well as all project management software modules required for physical construction. YTWO Formative is the first technology in the world to offer a fully digitalized and formative construction process that already integrates the supply chain at the virtual planning stage. Such a solution can generate up to 30% savings and value increases.

YTWO Formative is currently offering strategic partnerships to selected pilot clients in the German, American and Chinese market and is planning a global roll-out.

Thomas Wolf, CEO if RIB Software AG and co-founder of YTWO Formative, comments: “We invested more than 1,000 man-years of development work into the YTWO Formative framework technology. In February 2017, our international team of software developers reached a breakthrough by releasing YTWO 1.0. This achievement represents the first full integration of the design, production and supply chain processes in one cloud-based enterprise platform for the construction industry. With Christoph Groener, we have now succeeded in getting a German visionary for residential construction on board for the application of our technology”.

Mike McNamara, CEO of Flex and co-founder of YTWO Formative, comments on the agreement as follows: “Transferring innovative SCM solutions to the construction industry requires full integration of all steps in the construction process at enterprise level. From design to completion, end-to-end processes need to be simulated and implemented with a target deviation of <1% in physical construction. YTWO Formative has access to worldwide transformation know-how from 12 industries where Flex operates at scale. With Christoph Groener and the CG Gruppe, we have successfully partnered up with a very successful, innovative and dynamic German entrepreneur, who invests in excess of one billion Euro”.

Christoph Groener, CEO of CG Gruppe AG, explains: “The quick completion of affordable and energy-efficient residential property in high quality is one of Germany’s biggest political challenges, as well as the vision of the CG Gruppe. With YTWO Formative, we can digitalize our processes in such a way that the logistic and production processes are integrated with suppliers already in the planning stage. In short: YTWO Formative helps us turn our ambition into reality”.

 

About YTWO Formative

YTWO Formative is a Silicon Valley start-up technology company. Founded in 2016 equally by the technology companies Flex in San Jose, global No.1 in SCM and RIB AG in Stuttgart, global No. 1 in 5D BIM enterprise software, USD 120 million first round starting capital, and with target markets USA, Germany and China, YTWO Formative provides a cloud-based, integrated IT enterprise platform for the planning, controlling and processing of all business processes in real estate construction, renovation and maintenance.

The first step is to simulate all processes in BIM using the YTWO 5D BIM technology and make them visible to the suppliers via the YTWO Data Visibility App in the planning phase in 5D (3D plus costs and times). The second step involves the integrated execution of physical processes with real-time monitoring and the integration of all data into project management and company controlling.

YTWO Formative’s business model is transaction based, and success is tied to the order volume of products and components from YTWO Formative’s product catalog.

According to a Feb 2017 study by McKinsey Global Institute, new thinking, new processes and new technologies have the potential to save EUR 1.5 trillion in construction worldwide. Here, YTWO Formative plans to make a significant contribution.

Learn more about YTWO Formative here

About CG Gruppe AG

The CG Gruppe is a German project developer with its own construction competences. The company, which operates throughout Germany, has been developing, implementing and marketing residential and commercial properties for over 20 years. The company’s core business is the turnkey production of residential buildings and its placement to institutional investors. In this segment, CG Gruppe AG is the market leader in Germany. The declared goal of the company with its 350 employees is the creation of favorable and sustainable living space in large-scale district developments using process and technology innovations.

The company's performance horizon has been set at a total volume of around EUR 4.7 billion for the next five years. At present, projects in the amount of EUR 2.7 billion are being prepared for structural implementation. For projects currently under construction, the CG Gruppe processes a volume of EUR 750 million. Further projects totalling EUR 500 million have already been purchased by institutional investors and will be under construction soon.

Visit CG Gruppe's website

RIB Group 2016 revenues at a record high

RIB Group 2016 revenues at a record high

RIB Group increased preliminary operating EBITDA by 57.9% to approx EUR 33.0 million in 2016 and generated the highest revenues in the company's history.
 
RIB Software, the world’s leading provider of 5D BIM Big Data technology, announces its preliminary and unaudited financial figures for the fiscal year 2016.

  • Preliminary revenues of RIB Group rose significantly by 19.1% to EUR 97.8 million (2015: EUR 82.1 million).
  • Preliminary operating earnings before interest, taxes, depreciation and amortization (EBITDA) - adjusted by currency effects and one-off / special effects - increased in the fiscal year by 57.9% to EUR 33.0 million (2015: EUR 20.9 million).
  • The operating EBITDA margin thus reached 33.7% (2015: 25.5%).
  • Preliminary EBITDA rose by 31.6% to around EUR 32.9 million (2015: EUR 25.0 million).

RIB Software AG will publish its final figures for the fiscal year 2016 as well as the guidance for the fiscal year 2017 on Friday, 31st March 2017.

BIG signs a contract with RIB

BIG signs a contract with RIB

BIG has signed a contract with RIB to use RIB Capture, a digital solution that will be used for all on-site inspections at MÉCA. The contract also covers Professional Services and RIBs consultants will...

RIB’s Spanish subsidiary signs first iTWO 5D contract with the Spanish Secin Group

RIB’s Spanish subsidiary signs first iTWO 5D contract with the Spanish Secin Group

RIB is happy to announce the conclusion of a contract with the Secin Group for RIB’s VDC software iTWO 5D.  Spanish Secin Group, with its strong focus on innovation and more than 40 years of experience in the construction industry, has decided to implement iTWO 5D-technology, an end-to-end innovative solution for digital management in construction companies.

The contract between the Secin Group and RIB Spain constitutes the first partnership forged by RIB Spain since launching the iTWO technology in the Spanish market.

Javier Gómez-Cornejo Gilpérez, CEO of Secin Group, comments: “iTWO fits with our innovative vision and also allows us to bring together all of the company's processes into one system. We will now be able to optimize resources, be more cost-effective, reduce contingencies and handle orders more efficiently.”

“Secin group is the first Spanish company to use iTWO, which will provide the company with an important competitive advantage within an industry that is on the way to becoming one of the most advanced industries in the world”, says Fernando Valderrama, CEO of RIB Spain.

About Secin Group

The Secin group is dedicated to the engineering of projects and systems as well as to the construction in Civil Works and Building fields. With forty years of experience, Secin is guaranteed to be a reference company in an industry in constant change and innovation. Project, build and develop are the raison d'être of Secin group, a company committed to people, environment, sustainability, research and above all, responsibility to its clients, Secin group offers turnkey solutions and ensures price, time and quality in every project. For more information, visit www.secingroup.com.