I.D. Systems Receives Follow-on Contract from Nestle for Wireless Industrial Vehicle Management Technology
WOODCLIFF LAKE, N.J., Dec. 17, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has executed a contract with the U.S. division of Nestlé, one of the world's largest food producers, to further expand deployment of I.D. Systems' PowerFleet™ wireless Vehicle Management System (VMS) across Nestlé's North American operations. The new contract encompasses hardware, software and a service term of five years for more than 700 vehicles across more than 20 facilities. Following implementation, I.D. Systems will have deployed PowerFleet on a cumulative total of more than 2,000 vehicles across more than 60 sites for Nestlé.
"Nestlé takes safety and sustainability in the workplace very seriously," said Ron Meredith, Director of Logistics Operations for Nestlé Waters North America. "Deploying a wireless vehicle management system on the industrial trucks in our manufacturing and distribution facilities helps ensure that only trained personnel have access to our equipment, and that they perform a safety checklist before operating it. Our VMS also has a smart impact sensor that helps influence good driving habits, reducing the risk of accidents. In addition, our VMS helps reduce fuel consumption and emissions by automatically shutting off trucks that are left idling."
"We view this contract as a validation of our 'I.D. Systems 2.0' strategic initiative to accelerate new product adoption and facilitate more rapid scaling of our solutions, with quality, across large enterprises," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "Our patented VMS technology can be effectively applied to any size industrial fleet—from less than 10 vehicles at a site to more than 1,000 across an enterprise—and our new system-as-a-service model makes acquiring and implementing the benefits of VMS easier than ever before for our customers. Our solution for Nestlé includes large-scale delivery of our newest generation of on-vehicle hardware, deployment of our VMS as an enterprise-hosted solution, and implementation of our unique Analytics platform for business intelligence."
The on-vehicle devices for Nestlé are among hundreds of units of I.D. Systems' 4th-generation Vehicle Asset Communicator® being shipped in the fourth quarter of 2014. This new "VAC4" simplifies VMS installation on industrial trucks (it can be installed in as little as one hour), improves the vehicle operator's experience, and enhances VMS functionality.
I.D. Systems Analytics is a set of software tools that gives executives and facility managers alike a single, integrated view of historical asset activity across multiple locations. The data is conveyed through both Key Performance Indicator (KPI) dashboards and detailed reports that are emailed to users automatically. The KPIs answer critical questions about the use of industrial trucks, including: Are operations being conducted safely? How well are vehicle operators being managed? How efficiently is the fleet of equipment being utilized? And is the vehicle management system being used effectively?
"I.D. Systems Analytics represents an entirely new way to evaluate and improve the performance of material handling operations," said Mr. Ehrman. "Analytics draws on our unique database of industrial vehicle activity, encompassing tens of thousands of vehicles, different types of equipment, facilities and industries, and more than 10 years of macroeconomic ups and downs. Measuring an enterprise's performance against our database enables unmatched insights, not only across the enterprise, but also within the user's peer industry. This helps improve the speed and quality of business decisions, and sheds light on the outcomes of those decisions, to generate a greater return on investment from corporate assets."
I.D. Systems' business with Nestlé is coordinated with and supported by channel partner Yale/Chase Equipment and Services, Inc., a leading lift truck dealer based in Southern California.
About Vehicle Management Systems
A wireless Vehicle Management System (VMS) helps improve material handling productivity by establishing accountability for the use of equipment, streamlining work flow, and providing unique metrics and Key Performance Indicators for equipment and labor. A wireless VMS also helps improve workplace safety and security by restricting vehicle access to trained operators, providing electronic vehicle inspection checklists, and responding automatically to vehicle impacts. In addition, a wireless VMS helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling maintenance according to actual usage rather than by calendar time, and helping determine the optimal economic time to replace equipment.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. The company's patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information about I.D. Systems, please visit www.id-systems.com.
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This press release contains forward looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems' beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems' control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include: statements regarding prospects for additional customers; market forecasts; projections of earnings, revenues, potential contract values, estimated product shipment dates, synergies, accretion or other financial information; initiatives for new products and processes, and plans, strategies, objectives, and initiatives of management for future operations. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems' products to continue to develop, the inability to protect I.D. Systems' intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems' filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2013. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
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Released December 17, 2014