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WOODCLIFF LAKE, N.J., Nov. 4, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has been named one of the top 20 most promising logistics technology solutions providers by CIO Review, a publication focused on enterprise technology solutions capable of redefining an organization's future business goals.
CIO Review serves as a neutral source of information for decision makers seeking to identify "The Best" in a variety of areas important to technology-driven businesses. The editorial research team at CIO Review analyzed more than 300 companies offering technology solutions that address enterprise challenges in supply chain logistics. Through nominations and consultations with industry leaders, CIO Review editors chose the best 20, including I.D. Systems.
"We are honored that CIO Review has recognized I.D. Systems as a leading technology provider in the logistics industry," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "This award encourages us to continue designing, developing, and implementing best-practice wireless solutions for managing high-value assets in the supply chain."
"I.D. Systems has been on our radar for some time now for stirring a revolution in the logistics space, and we are happy to showcase them this year due to their continuing excellence in delivering top-notch technology-driven solutions," said Harvi Sachar, publisher and founder of CIO Review.
I.D. Systems' patented solutions help customers control, track, and analyze assets such as industrial vehicles and cargo containers, to increase efficiency, reduce costs, and improve profitability. In selecting I.D. Systems as a top-20 solution provider, CIO Review focused on the company's industry-leading PowerFleet® wireless Vehicle Management System (VMS) for forklifts and other industrial trucks.
The PowerFleet VMS provides both safety benefits—through vehicle access control, impact management and electronic inspection checklists—and a compelling return on investment (ROI) through cloud-based analytics that drive key performance indicators (KPIs) for material handing operations.
"We deploy smart wireless devices on industrial vehicles, with sensors and algorithms that automatically identify, react to, and solve operational problems in real time," said Mr. Ehrman. "And by working with leading global manufacturers, distributors, and retailers over a long period of time, I.D. Systems has developed a unique database of industrial vehicle usage data by equipment type, facility type, and industry. With that data, our customers can benchmark their material handling performance within individual facilities, across their enterprises, and against their peer industries. This level of analytics is driving exponential growth in the wireless VMS market—the technology has become a best practice in the supply chain."
About Wireless Vehicle Management Systems
Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts. A wireless VMS also 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. In addition, a wireless VMS helps improve supply chain productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization.
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. PowerFleet® is a registered trademark of I.D. Systems. For more information, visit www.id-systems.com.
About CIO Review
CIO Review is a technology magazine that talks about the enterprise solutions that can redefine the business goals of enterprises tomorrow. It is the leading source that shares innovative enterprise solutions developed by established solutions providers, upcoming hot enterprises and is a neutral source for technology decision makers. Published from Fremont, California, CIO Review is an excellent platform for the enterprise to showcase their innovative solutions. While U.S. enterprise market is growing exponentially, there is a vacuum among entrepreneurs of enterprise startups. CIO Review acts as a platform allowing high level executives in the enterprises to share their insights, which in turn will help the enterprise startup ecosystem, help technology and business leaders with analysis on information technology trends and give a better understanding of the role that enterprise solutions play in achieving the business goals.
Cautionary Note Regarding Forward-Looking Statements
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.
CONTACT: For Financial Media Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860 For Trade Media Greg Smith Vice President firstname.lastname@example.org (201) 996-9000
Released November 4, 2014