I.D. Systems Acquires New Intermodal Chassis Customer
WOODCLIFF LAKE, N.J., April 07, 2016 (GLOBE NEWSWIRE) -- The Asset Intelligence subsidiary of I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, announces the acquisition of a new customer deploying its VERIWISE® Chassis tracking solution.
The North American Chassis Pool Cooperative, known as NACPC, is partnering with Asset Intelligence to deploy its VERIWISE® Chassis fleet management solution on 270 chassis in NACPC’s fleet. NACPC President Dave Manning strongly believes this new technology will provide substantial business value.
“Having the ability to track our chassis will allow us to leverage the multitude of information we receive from continual asset tracking,” said Manning. “We envision the future of chassis logistics as heavily relying on this tracking information instead of solely depending on gate activity. As an organization that is dedicated to keeping our assets in a closed loop, this tracking will assist us in this endeavor by helping us quickly locate a chassis should they slip out of the closed loop.”
The VERIWISE® Chassis fleet management solution from Asset Intelligence enables chassis fleet operators to:
- Improve fleet utilization, including more rapid redeployment of dormant chassis, resulting in increased revenue;
- Improve cargo turnaround times, from dispatch and pickup to delivery;
- Improve billing accuracy with reliable data that shows when assets move and when the billing clock starts and stops
- Decrease time and fuel costs spent searching for chassis by eliminating manual yard checks and enabling the nearest chassis to be utilized;
- Reduce chassis maintenance costs by performing preventive maintenance based on actual mileage rather than calendar schedules;
- Improve verification of intermodal container returns.
Matt Harris, Sr. Vice President of Sales for Asset Intelligence, stated: “We are very pleased to have the opportunity to partner with NACPC, a leader in chassis pool management. Our solutions will provide NACPC with critical visibility and fleet status, and we believe will ultimately help them maximize the efficiency and productivity of their chassis pool.”
Mr. Harris added that the ability to track chassis with accurate, real-time information can provide NACPC with an operational advantage. “Our solution gives NACPC visibility into the location and status of their assets, allowing leased chassis to be kept in the proper lanes for their customers. VERIWISE Chassis also provides valuable data and insight to increase asset utilization and ensure chassis fleets are sized appropriately to meet customer demand. Additionally, tracking improves billing accuracy, giving chassis pool operators the hard data needed to resolve billing disputes, a common industry challenge. All of these benefits give NACPC an advantage in serving their customers.”
The chassis pool industry is poised to see growth in the use of tracking technology in coming years. Traditionally, tracking has been primarily used by truckload carriers for their dry van fleets; however, the industry is now seeing early adoption on chassis fleets. “NACPC is certainly well ahead of the industry with this trend, and will be able to have a leg up on their competition by realizing the benefits of tracking. We’re thrilled to partner with an innovative leader in the industry, and continue to prove the value chassis tracking provides to pool operators.”
The North American Chassis Pool Cooperative, or NACPC, was founded in 2012 with the goal of providing a modern fleet of chassis to users with at cost pricing. The cooperative is committed to supporting the U.S. intermodal container network with an efficient chassis inventory. Use of NACPC chassis is open to all qualified motor carriers. Contributory “gray pools” allow users to draw any chassis from the pool regardless of ownership. The contributory pool model thus eliminates duplicative costs and maximizes the use of limited space at port and or inland intermodal locations by obviating the need for a contributor to have its own chassis storage facility. It also ensures an adequate supply of chassis for all users. The pool managers are responsible for chassis logistics, inventory supply, maintenance and repair and the repositioning of the chassis but usage arrangements are determined between the chassis contributor and its user. Contributory gray pools foster competition by allowing motor carrier users to select from more than one chassis provider. Currently, NACPC operates more than 13,000 chassis in four CCM managed pools; MCCP, COCP, GCCP & SACP. For more information, please visit www.NACPC.org.
About I.D. Systems, Inc. and Asset Intelligence
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless 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, visit www.id-systems.com.
Asset Intelligence, an I.D. Systems subsidiary based in Plano, Texas, is a leading provider of fleet management solutions that improve utilization, productivity, and profitability of remote transportation assets including trailers, intermodal containers and chassis for carriers, shippers, manufacturers, and retailers.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 firstname.lastname@example.org NACPC Dave Manning Phone: 615-780-3213 email@example.com I.D. Systems Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 IDSY@liolios.com
Released April 7, 2016