Deal Valued at $700,000
Woodcliff Lake, NJ, and Plano, TX — I.D. Systems (NASDAQ: IDSY), a leading provider of wireless M2M asset management solutions, has entered into a contract with one of the largest truckload carriers in North America to deploy its VeriWise™ Intermodal Cellular container management system on a fleet of intermodal containers. The contract is valued at more than $700,000 over five years.
"This order represents the first large-scale fleet deployment of our new Intermodal Cellular solution," said Kenneth Ehrman, I.D. Systems' president and interim CEO. "This system is designed to maximize container fleet utilization and minimize idle time by providing visibility of loading/unloading events and generating real-time data on load status throughout the shipment cycle. The system has demonstrated the ability to reduce shipment cycle times by an average of 72 hours per container per month, and increase shipment volume and revenue by 10%—without increasing fleet size.
"Our customer tested the VeriWise Intermodal Cellular system extensively and found its simple installation and reliability compelling, as well as its tracking and reporting capabilities. Deploying our VeriWise system on domestic intermodal containers gives our customers real-time visibility of the critical 'last mile' of shipments, identifies when unloading is taking longer than expected, and provides quick alerts on empty containers. With this information, containers can be turned around quicker, deadheading can be minimized, chassis rental costs can be reduced, and revenue per container can be maximized."
The VeriWise™ Intermodal Cellular system features:
Real-time location tracking via GPS satellites and GSM cellular technology
A low-profile, modular design that enables simple, secure installation—between either the horizontal or vertical corrugated ridges of a standard intermodal container—in under 30 minutes
A patent-pending, light-based cargo sensor that provides the functionality of a wired door sensor without the installation cost or risk of damage to exposed cables
Rugged construction, with integrated GPS/cellular antenna and long-life battery, for years of reliable, maintenance-free operation
An optional security package that prevents tampering and allows quick, easy battery replacement without having to open the container
About VeriWise™ Solutions
VeriWise asset tracking systems combine sensor, wireless, and web technologies to provide real-time visibility and control of trailers and their cargo. The systems automatically identify, analyze, and respond to critical transportation issues to improve the efficiency and security of logistics operations.
VeriWise Track & Trace is a low-cost, easy-to-deploy, asset tracking system that provides real-time data to improve the efficiency and security of trailer and container fleets. It is designed for quick, easy, flexible installation on a wide range of cargo-carrying assets, with patented power management technology to provide exceptionally long battery life and years of maintenance-free operation.
VeriWise Dry Van is an advanced trailer monitoring system with patented full-length cargo detection sensors and solar charging technology. The system reports reliable, uninterrupted trailer location and loaded/ unloaded status—even if the trailer is disconnected from tractor power for an extended period—resulting in faster trailer turns, increased asset utilization, improved cargo security, and optimal fleet efficiency.
VeriWise Reefer is a refrigerated trailer management solution, which has been integrated with both Thermo King and Carrier, the world's leading reefer manufacturers. It allows users to manage temperature set points remotely and react to problems quickly, with real-time alerts based on automatic exception data analysis.
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 solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, 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, 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.