DENVER, COLORADO -- (Marketwired) -- 09/05/17 -- TrackX Holdings Inc. (TSX VENTURE: TKX) ("TrackX" or the "Company"), an enterprise IIoT software platform provider for the tracking and management of physical assets, announces that the Company has entered into an agreement to complete a national roll-out of its Global Asset Management for Enterprises (GAME) platform for a leading U.S.-based insurance provider. The TrackX solution will manage more than 100,000 high value Information Technology (IT) assets across 16 facilities, including two primary data centers and 14 branch locations. The initial phase of the solution is valued at US$1.65 million (approx. CDN $2.0 million) over three years.
"We are proud that this nationally-recognized insurance provider has chosen to rely on TrackX to provide real-time asset tracking and management across its operations," said Tim Harvie, TrackX's President and CEO. "With audit and control costs growing every year, enterprises are investing heavily in technologies to reduce these costs and increase efficiencies. The TrackX GAME platform gives this client unprecedented visibility into its assets, improves the utilization of assets and significantly reduces the labor associated with performing manual inventories, while adhering to mandatory audit and compliance requirements."
Phase one, to be deployed in 2017, will track the Customer's assets in and out of its facilities, data centers, and laboratory environments. The GAME platform augments the client's existing BMC Remedy digital service management system by providing real-time data and driving advanced analytics to improve operational effectiveness.
The TrackX solution will monitor inventory, protect data, maintain audit compliance, and reduce loss. Passive RFID tags will be affixed to tracked assets within the enterprise and a network of RFID readers and antennas will be installed throughout the facility. TrackX's GAME platform ingests and analyzes the data collected through both this infrastructure and handheld readers, providing the Customer visibility and actionable business intelligence in real-time. The GAME platform will also streamline workflows, facilitate event management, generate alert notifications and provide comprehensive analytical reports from the data collected. The TrackX solution will generate significant value in the reduction of labor and improvement of visibility to inventories enterprise-wide. Once installed it is anticipated that the Customer will be able to fully satisfy its auditing and compliance requirements while reducing inventory costs by up to 75%.
TrackX, based in Denver, Colorado, is an enterprise Industrial Internet of Things (IIoT) software platform provider leveraging multiple auto-ID technologies for the comprehensive tracking management of physical assets. TrackX's Global Asset Management for the Enterprise (GAME) enables the IIoT by providing unique item level tracking, workflow processing, event management, alerts and powerful analytics to deliver solutions across a growing number of industries. This platform creates unprecedented visibility and business intelligence of man-to-machine and machine-to-machine interaction. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company's anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.
TrackX Holdings Inc.