Woodcliff Lake, N.J. — September 14, 2016 — 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, has secured a new order from a global intermodal shipping company for 3,500 VeriWise® Container tracking systems to be deployed on its fleet of newly purchased containers. The order follows a previous order placed in Q1 2016 from the customer for an initial 1,500 VeriWise Container tracking systems.
The customer, an industry leader in intermodal container shipping, chose Asset Intelligence to provide an advanced tracking solution for its assets to ensure the most efficient utilization of its new containers, as well as deliver the highest level of service to its customers. With greater visibility into the status and location of its assets, the customer is able to provide up to date information to its customers on the status of their shipments.
Additionally, the VeriWise Container system provides critical insight into container load status and shipment cycle times, information required to enable improvements in efficiency and asset utilization. Through the VeriWise IQ® Analytics platform, the company is able to monitor key performance indicators, and gain insight into historical operational performance.
Ken Ehrman, CEO of I.D. Systems, said, "These new orders from one of the largest intermodal shipping companies in the industry encourages us to continue delivering on our promise to our customers to provide the best and most reliable fleet management technology in the transportation industry. We are very pleased that our customer is seeing the benefits from our intermodal container management solutions, and are eager to continue proving the value our solutions deliver."
About VeriWise® Container Management Solutions
The VeriWise Intermodal Container tracking solution helps carriers maximize container utilization and efficiency, and minimize idle time by providing:
• Real-time location status reporting and notifications;
• Real-time data on load status throughout the shipment cycle using VeriWise patented ultrasonic cargo sensing and light sensing technologies. VeriWise Container is the only integrated solution that provides full 53' length cargo load status and door status without the need for wired sensors;
• Improved shipment cycle times by an average of 72 hours per container per month, and increased shipment volume and revenue by 10%, without increasing fleet size.