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WOODCLIFF LAKE, N.J., March 29, 2017 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise fleet management solutions for fleets of industrial trucks and material handling equipment, has released PowerFleet IQ® 2.0, the enhanced 2nd generation version of its PowerFleet IQ® Analytics software.
Since its commercial release in January 2016, PowerFleet IQ has been implemented at hundreds of Fortune 100 sites across dozens of customers representing manufacturing, distribution, warehousing, and aviation customers. The knowledge gained in these implementations combined with customer feedback, has been incorporated into PowerFleet IQ 2.0, bringing together a simpler and easier to use interface with improved visualizations to help customers make critical decisions to improve operational efficiency, damage avoidance, safety, and compliance. With streamlined report navigation and enhanced drill through capabilities, users can more readily turn insights into actionable opportunities and drive more informed decision making.
PowerFleet IQ provides managers with critical information at the site, regional, and enterprise levels, enabling easy identification of operational best practices and areas for improvement, and the ability to visualize key trends over time. Managers can perform site-by-site assessments, determine enterprise-wide benchmarks, and compare performance to peer industry standards.
Additionally, I.D. Systems is leveraging PowerFleet IQ to expand its consultative engineering and analytics services, providing custom consulting to identify opportunities and address specific challenges within customers’ operations in areas including productivity, fleet optimization, and impact analysis. I.D. Systems works with customers to develop customized programs that utilize VMS data that can be integrated and compared with 3rd party data such as ERP, WMS, Lease Management or Maintenance systems, to evaluate key operational performance and better manage their enterprise.
PowerFleet IQ utilizes data collected from the PowerFleet® Vehicle Management System (VMS), consisting of an on-board device installed on material handling equipment, and user software. The on-board device collects and wirelessly transmits vehicle information including data on safety, compliance, maintenance, and efficiency. The user software, known as Vision®, provides tactical level operational information for site managers, while PowerFleet IQ Analytics software provides a more analytical and strategic level of information for enterprise managers looking to improve operations across sites.
Dan Romary, Vice President of Data Analytics and Software at I.D. Systems, stated: “We are very pleased with the advancements we have made over the last year with PowerFleet IQ, implementing key enhancements that improve our customers’ experience. With PowerFleet IQ 2.0, our customers are better able to bridge the gap in information needed to improve safety and efficiency in their operations. With our model of continuous improvement, we look forward to further developing solutions that provide significant value to our customers.”
PowerFleet IQ® Fleet Optimization Dashboard
An infographic accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/9848ab79-262f-4a6e-a8b9-4051b803aff4
PowerFleet IQ® Vehicle Usage Dashboard
An infographic accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3bd90798-1895-48e7-ad28-e9a35f7da78e
PowerFleet IQ® Vehicle Productivity by Site Dashboard
An infographic accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/52b42a71-cb3e-42f8-9a6c-12526f73546e
PowerFleet IQ® Impacts Dashboard
An infographic accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/15136b59-2699-463a-a7da-32b150f89799
About I.D. Systems, Inc.
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 fleet management solutions for enterprises in the manufacturing, distribution, retail, and transportation industries. The company’s solutions address the needs of organizations to monitor and analyze their assets to increase safety and security, improve efficiency and productivity, and reduce costs. I.D. Systems patented technologies secure, control, track, and manage high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. For more information, please visit www.id-systems.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of the 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; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. 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 possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, 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, 2016. 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.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 firstname.lastname@example.org Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 IDSY@liolios.com
Released March 29, 2017