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Success Stories
EIC Survive 2024 EIC Survive&&Thrive Thrive 2024
JulyJuly 2024 2024
Story type #service & solutions (main category)
Technical Royal Excellence Meeting the demand for a one-stop shop solution
General Manager
Technical Royal Excellence (TRE) continues to keep a finger on the pulse of energy market requirements. Having recognised the demand for a one-stop crane and lifting solutions shop, the company is now providing a suite of new integrated services to clients across the industry. After dramatically expanding both market share and revenue because of these recent service alignment efforts, as well as making several savvy technology investments into VR training and software-based reporting and certification, the UAE-based firm has continued to rise to a series of new and evolving challenges. The challenge - Established in 2014 under the umbrella of Royal Marine Group incorporated in 2001, UAE-based TRE provides products and services in several specialist areas, from lifting inspection and crane maintenance to training, equipment rental and non-destructive testing (NDT). Currently, a major part of its offering lies in third party inspection services. However, the company has faced a series of challenges here in recent times. Having previously prepared inspection reports using relatively old school Microsoft Office applications such as Word and Excel, it found that its process was fraught with challenges. Not only was it time consuming, but also inconsistent and subject to errors that would result in client complaints. In addition, the company had also struggled because of its dependencies on other parties in arranging the testing of equipment, with the presence of inspectors needed to witness and verify the testing being a particularly common hurdle. Indeed, arrangements were usually made by other suppliers, causing delays for TRE’s clients. Thus, it was difficult to get all stakeholders aligned within a specific timeframe, with TRE’s surveyors regularly losing hours of time from waiting around, harming their productivity and job satisfaction through unplanned overtime and long hours. With the vast majority of crane and lifting
▸ Revenue growth of 63% in 2023. ▸ Company headcount increased 23%.
Key findings
Tanweer Ahmed
How is Technical Royal Excellence thriving?
Benefits
equipment manufactured in Europe, North America, and Australia, the non-availability of parts and trained technicians was also adding to delays and operational disruptions. And now, with Gen Z joining the industry, TRE has also had to work to adapt its training methods for a wave of new employees that prefer innovative or technological learning models. The solution - TRE continuously analyses areas for improvement and ways in which it can more closely align with its energy sector needs, working to provide innovative and value-added solutions for its clients and employees. Regarding the latter, the company has recently implemented a new crane operator training scheme which leverages virtual reality and is highly acclaimed by industry experts. Not only should this shift serve to enhance its training delivery overall, but it will also closely align with the needs of new Gen Z starters. Internally, it has recently implemented software-based reporting and certification solutions, carefully designed in line with industry needs, to eliminate the inefficiencies and errors it was encountering by relying on the Microsoft Office Suite for complex reporting needs. Indeed, as anticipated, this initiative has yielded significant accuracy and efficiency improvements. Additionally, the company recognised the struggles that rig operators, marine specialists and EPCs have faced in getting a single solution that aligned with their crane and lifting needs. To address this, the firm is working to include several new integrated services that are allowing it to be a one-stop shop for its clients. Here, TRE is now offering lifting surveyor services, crane maintenance and overhaul, testing equipment such as water weights, solid weights and load cells, SLI calibration and trouble shooting, NDT services, health and safety trainings all in one coordinated package. Resultantly, the company has successfully established itself as a supplier of choice among many industry professionals, enabling them to do business with one single supplier rather than working with four or five different partners. With these changes being implemented since Q2 2022 onward, the firm is already enjoying
For industry ▸ Focus now on sustainability to move towards clean energy as soon as possible. ▸ Look for innovative solutions. For government ▸ Provide funding for new business initiatives with sustainable goals to ensure a green future.
Technical Royal Excellence at a glance: Key products and services: consulting, inspection and training services to a variety of industries. Main industries served: ▸ Oil and gas – 88% ▸ Offshore renewable energy – 12% Headquarters: Abu Dhabi, UAE Year established: 2014 Number of employees: 40 Revenue: £6.1m Revenue from exports: 10%
significant success from its efforts just two years on. The figures speak for themselves. Not only has TRE increased its market share from 18% to 35%, but it also achieved 63% revenue growth in 2023, with its crane and lifting activities directly responsible for 15% of overall revenue. Meanwhile, TRE’s headcount has grown 23%, and with profit margins exceeding 21%, the firm has laid the foundations from which it can continue to reap significant rewards moving forward.