Friday, December 12, 2014

Tracking System Supplier Wins Contract to Fit Out 2,300 Freight Vehicles

Sensor System to be Supplied to Major Furniture Group
Shipping News Feature

US – I.D. Systems, headquartered in New Jersey has, through its Asset Intelligence subsidiary, signed up one of the world's largest furniture makers to deploy its VeriWise™ Track and Trace trailer management system on a fleet of approximately 2,300 trailers. The VeriWise Track and Trace system provides real-time GPS location data, via cellular communications and web-based software, to improve the security and efficiency of freight transportation fleets. The system is designed for quick, flexible installation on virtually any type of trailer, with patented power management technology and claims exceptionally long, maintenance-free battery life.

I.D. Systems has subsidiaries in Germany and the United Kingdom and Asset Intelligence itself is based in Texas providing trailer and container tracking solutions to a range of industries. Last month the group announced a three year extension to its contract with retail giant Walmart and a one year furtherance of an existing deal with trucking group Knight Transportation, for whom it monitors cargo condition as well as location in a partnership that now goes back 15 years. Kenneth Ehrman, Chairman and CEO of I.D. Systems, commented on the substantial contract saying:

"We are delighted to add one of the world's pre-eminent furniture producers to our customer base. The value proposition of our Track and Trace system, with its quality, ease of installation and low maintenance, makes it a very cost-effective trailer tracking solution for large-scale logistics operations, like furniture distribution. We see this contract for our Track and Trace system as another validation of the product's unique position in the competitive marketplace."

Client and financial terms for the latest deal were not disclosed however, the company expects the contract to contribute to its recurring revenue stream with immediate effect.