I.D. Systems Expands Transportation Asset Management Solutions with Chassis Tracking System for Leading Intermodal Carrier
I.D. Systems, Inc.
123 Tice Boulevard, Suite 101
Woodcliff Lake, NJ, 07677
Press release date: June 20, 2014
Woodcliff Lake, NJ — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of wireless M2M asset management solutions, will deploy its VeriWise™ Track and Trace system on a fleet of intermodal container chassis for Duncan and Son Lines, Inc., a leading provider of intermodal container transportation services. Under a 60-month service contract, the financial terms of which were not disclosed, I.D. Systems will provide asset monitoring and data communication services, including data integration with Duncan's TMW dispatch software, to help automate the conversion of asset data into service actions.
The Track and Trace system provides real-time asset location via GPS, cellular communications and web-based software. The system installs quickly and features patented power management technology for long, maintenance-free battery life.
For Duncan, the ability to track the status and quantities of chassis across geographic locations, in real-time, and automatically feed that data into its TMW dispatch software, is expected to generate significant financial and customer service benefits, including:
improved chassis fleet utilization, including more rapid redeployment of dormant chassis, resulting in increased revenue;
improved cargo turnaround times, from dispatch and pickup to delivery;
decreased truck travel time, fuel costs and emissions;
reduced chassis maintenance costs; and
improved verification of intermodal container returns.
Rick Duncan III, president of Duncan and Son Lines, said "Chassis tracking is becoming very important in the intermodal container transportation business, as chassis ownership transitions from container ship companies to intermodal carriers like us. We selected the Track and Trace product for its proven reliability and cost-effectiveness, as well as its ability to monitor chassis location and status in real time. The ease of device installation, in a protected location on the chassis, was also critical to give us both a robust solution and a low implementation cost."
"We believe the award of this contract reflects many competitive advantages of our VeriWise Track and Trace system," said Kenneth Ehrman, president and interim CEO of I.D. Systems. "Track and Trace gives our customers a highly effective and affordable means of managing their transportation assets. We also provide unique expertise in backend systems integration, so we can help our customers integrate the data we collect into their own systems, like Duncan's TMW dispatch software."
About I.D. Systems 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 M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including industrial vehicles, rental cars, containers, trailers, 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, please visit www.id-systems.com.
Asset Intelligence, an I.D. Systems subsidiary based in Plano, Texas, is a leading provider of trailer and container tracking solutions for manufacturers, retailers, shippers and freight transportation providers. It offers a full range of solutions to improve safety, security and productivity throughout global supply chains.