I.D. Systems

I.D. Systems Inc.
Public
Traded as NASDAQ: IDSY
Industry Communications Equipment
SIC Code: 3669
Founded 1993 (1993)
Headquarters Woodcliff Lake, New Jersey, United States
Area served
 Worldwide
Key people
 Kenneth Ehrman, CEO
Ned Mavrommatis, CFO
Products PowerFleet®, PowerBox™, VeriWise™, I.D. Systems Analytics, AvRamp®, SafeNav™, RentalFleet™, didBox™
Revenue US$ 39.95 million (2013)[1]
Number of employees
 103 (2012)
Website www.id-systems.com

I.D. Systems, Inc. is an American company headquartered in Woodcliff Lake, New Jersey, that produces wireless asset management systems for industrial trucks, rental vehicles, and transportation assets. The company utilizes wireless communication technologies—including radio frequency identification (RFID), Wi-Fi, ultrahigh-frequency (UHF), satellite, and cellular—as well as sensor technology and proprietary software to manage high-value corporate assets, such as forklifts, airport ground support equipment, rental vehicles, dry van trailers, chassis, refrigerated trailers, flatbeds, railcars, and intermodal containers.[2]

History

I.D. Systems was founded in 1993 by Kenneth S. Ehrman. The company introduced the use of radio frequency identification (RFID) technology for industrial asset tracking and management. In 1995, I.D. Systems was awarded a $6.6 million[3] contract from U.S. Postal Service (USPS) to develop and implement a tracking system for test letters and packages.[4] I.D. Systems went public on the NASDAQ in 1999.[3]

In 2005, I.D. Systems received a three-year contract from the U.S. Postal Service to implement its Wireless Asset Net, a wireless industrial vehicle management system, at 460 USPS facilities nationwide. According to Jeffrey Jagid, the company's former chairman and CEO, this project is a key milestone both in the company's relationship with USPS and in mass commercialization of the company's wireless technology.[5]

In 2009, I.D. Systems acquired didBOX Ltd., a privately held, United Kingdom-based manufacturer and marketer of driver identification systems for forklift fleets. The acquisition made didBOX a wholly owned subsidiary of I.D. Systems, broadened I.D. Systems' product line, and expanded sales of the company's vehicle management solutions in the European market.[6] In 2010, I.D. Systems acquired GE Asset Intelligence, LLC, a business unit of the General Electric Company, which provides trailer and container tracking solutions for manufacturers, retailers, shippers, and freight transportation companies. The acquisition expanded the scope of I.D. Systems' product line and complemented its portfolio of wireless asset management patents.[7]

Solutions

I.D. Systems' solutions consist of hardware, software, maintenance, support, and consulting services. The solutions can be divided into three categories: industrial vehicle management, transportation asset management, and rental fleet management.

Industrial Vehicle Management

Powered Industrial Trucks

Vehicle Asset Communicator®: a vehicle-mounted computer that monitors and controls the use of powered industrial trucks.

I.D. Systems' industrial vehicle management systems are used by manufacturers, distributors, retailers, government entities, and other organizations with powered industrial trucks (forklifts, tow tractors, pallet jacks, etc.) to monitor and evaluate fleet operations, track vehicle movement, and manage vehicle operators. The system consists of four elements: a wireless computer installed on the vehicle, wireless communication nodes placed within the facility, system software hosted either on site or in a remote data center, and user software configured in either a client-server or thin-client (Internet browser-based) architecture. Data may be transmitted by any combination of Wi-Fi, cellular or UHF wireless technologies.[2]

The company offers three systems for industrial vehicle management. didBox™ is a non-wireless system for driver identification. PowerBox™ and PowerFleet® are wireless systems with functions ranging from operator access control, electronic safety checklists, and impact management to location tracking, battery management, maintenance scheduling, and task dispatching.[8]

The company's customers in the industrial vehicle management market include Ford Motor Company,[9] Nestlé North America,[10] Procter & Gamble,[11] Toyota,[12] and Walmart (which accounted for 15% of the company's 2012 revenues).[13]

Airport Vehicles

I.D. Systems provides a variation of its industrial vehicle management system designed specifically for ground support equipment (pushback tractors, baggage tugs, cargo loaders, catering vans, fuel trucks, etc.) and other vehicles that operate in and around airports.

This system, branded AvRamp®, was developed with funding from the U.S. Transportation Security Administration (TSA) and tested by the TSA at Newark Liberty International Airport and the JAXPORT seaport in Jacksonville, Florida. According to a 2005 TSA report, "The Newark Liberty International Airport (EWR) Vehicle Tracking Demonstration—Wireless Fleet Management System," I.D. Systems' technology accurately located vehicles and enhanced the security of aircraft fuel trucks and other maintenance vehicles.[14][15]

The company's customers in the airport vehicle management market include Envoy Air and American Airlines.[16]

Transportation Asset Management

VeriWise™ Track & Trace™: an asset tracking device that can be installed on a variety of transportation assets, such as trailers and containers.

I.D. Systems' Asset Intelligence subsidiary provides asset management solutions for the freight transportation industry under the VeriWise™ brand. The VeriWise™ product line includes a range of telematics solutions for tracking the location and monitoring the condition and status of dry van trailers, refrigerated trailers ("reefers"), flatbeds, chassis, containers, and railcars.[17]

For managing fleets of dry van trailers and containers, the company offers a product called VeriWise™ Track and Trace™ for location tracking,[18] a cargo sensor to monitor load status,[19] and a motion sensor to detect trailer movement.[17] The company also offers a temperature sensor to monitor the condition of reefers[17] and an impact sensor to track collisions of railcars.[20]

To manage these transportation assets, VeriWise™ products leverage satellite and cellular communications and web-based data processing technologies.[21] Users access the information about their assets through a remotely hosted website called VeriWise™ Internet Portal (VIP), which generates reports and displays tabular data and a Google map interface.[22]

The company's customers in the transportation asset management market include FAB Express,[23] Forward Air,[24] Freymiller,[25] National Retail Systems,[26] and Royal Freight.[27]

Rental Vehicle Management

In 2011, I.D. Systems and Avis Budget Group signed an exclusive agreement to deploy I.D. Systems' wireless vehicle management technology on more than 25,000 Avis Budget vehicles,[28] enabling Avis customers to self-manage their rentals by computer or smartphone. The technology can also automate and expedite the rental and return process, track vehicle mileage, measure fuel consumption, and remotely control a vehicle's door locks.[29] In February 2013, the company was awarded its second patent (patent number 8370268) for an automated wireless rental car management system.[30]

Analytics

In 2012, the company launched I.D. Systems Analytics, a set of web-based data reporting software tools. Analytics provides visibility into the performance of industrial assets across multiple facilities and geographies. The data enables users to evaluate individual facility performance, compare facilities side-by-side, and assess performance against industry-wide benchmarks, built on the company's database.[31][32]

Initial adopters of this product include Walgreen Company.[33]

Recognition

External links

References

  1. ↑ I.D. Systems, Inc., 2013 Income Statement, Google Finance, April 14, 2014
  2. 1 2 "Company Description", Bloomberg Businessweek, retrieved March 26, 2013
  3. 1 2 I.D. Systems Website, retrieved February 19, 2013
  4. ↑ "If the Check Is in the Mail, A New System Can Trace It", The New York Times, May 31, 1998
  5. ↑ "U.S. Postal Service Awards Contract to I.D. Systems, Inc. for National Deployment of Wireless Vehicle Management System", PR Newswire, retrieved February 19, 2013
  6. ↑ "I.D. Systems Acquires U.K.-based didBOX to Extend Product Line and Expand Sales in Europe", GlobeNewswire, October 19, 2009
  7. ↑ "I.D. Systems Acquires GE Asset Intelligence", FleetOwner, January 13, 2010
  8. ↑ "I.D. Systems Systems Launches PowerFleet with Vision Software and Securestream Wireless Communications", Material Handling Network, January 27, 2009
  9. ↑ "Ford Expands Use of I.D. Systems' Industrial Vehicle Management Technology in Europe and North America", Work Truck Magazine, February 1, 2012
  10. ↑ Josh Cable, "Nestl Waters North America Taps I.D. Systems for Wireless Vehicle Management", Industry Week, June 22, 2009
  11. ↑ "Procter & Gamble Deploying I.D. Systems’ Wireless Vehicle Management System", I.D. Systems Website, September 9, 2009
  12. ↑ "Key Contract Win", Handling & Storage Solutions, April 2012
  13. ↑ I.D. Systems, Inc. 2012 Form 10-K, last10k.com, retrieved April 22, 2013
  14. ↑ Claire Swedberg, "TSA Funds Tracking System for Seaport", RFID Journal, April 20, 2005
  15. ↑ Claire Swedberg, "TSA Endorses RFID for Airport Vehicles", RFID Journal, December 23, 2005
  16. ↑ Robert Nordstorm,"American Eagle Uses Wireless Technology to Manage DFW Ground Fleet", Airport Improvement Magazine, May–June, 2009
  17. 1 2 3 "Smart Services for Mobile Assets", Constructech Magazine, retrieved May 15, 2013
  18. ↑ "Asset Intelligence Launches VeriWise Track & Trace", Commercial Carrier Journal, July 21, 2010
  19. ↑ Bruce Lilly, "Trailer-Tracking Key Is Device's Power Source", Transport Topics, April Edition, 2013, retrieved May 31, 2013
  20. ↑ Claire Swedberg, "BASF Tracks Chemical-Carrying Railcars in Real Time", RFID Journal, December 3, 2009
  21. ↑ "ID Systems Inc profile", Reuters.com, retrieved March 10, 2013]
  22. ↑ Diana Britton, "No Muss, No Fuss: The Latest in Trailer Tracking", Truckinginfo.com, August 2010
  23. ↑ Jyothi Shanbhag, "FAB Express Trucking Picks VeriWise Satellite Tracking System to Manage Dry Van Fleet", TMCnet, February 16, 2012
  24. ↑ "Forward Air Expands Use of Asset Intelligence Solutions, Deploys VeriWise Track & Trace on Cargo Trailer Fleet", NBCNews.com, Dec. 7, 2010
  25. ↑ "Freymiller chooses refrigeration monitoring system", FleetOwner.com, November 21, 2012
  26. ↑ "National Retail Systems to deploy VeriWise tracking solution", FleetOwner.com, August 8, 2012
  27. ↑ Claire Swedberg, Royal Freight "Expects Trailer-Tracking System to Yield Greater Security", RFID Journal, March 23, 2010
  28. ↑ "Avis Budget Launches ‘Avis On Location’", Auto Rental News, August 23, 2011
  29. ↑ Claire Swedberg,"Avis Uses RFID for Remote Location Rentals", RFID Journal, August 30, 2011
  30. ↑ "I.D. Systems Awarded Patent for Automated Wireless Vehicle Rental System", cnbc.com. February 6, 2013
  31. ↑ Toby Gooley, "New software benchmarks lift truck fleet performance against peers", DC Velocity, October 5, 2012
  32. ↑ Josh Bond, "New offerings lifts the curtain on lift trucks", Modern Material Handling, September 26, 2012.
  33. ↑ "Walgreens Rolls Out New Generation Of Wireless Vehicle Management Technology From I.D. Systems, Including New Analytics Software", id-systems.com, February 12, 2013
  34. ↑ "Tackle Business Challenges With Technology Solutions", Food Logistics, December 15, 2008
  35. ↑ Managing Change Through Uncertainty, Food Logistics, December 22, 2009
  36. ↑ "FL 100: Bouncing Back With Technology", Food Logistics, December 14, 2010
  37. ↑ "Leaders of the Year 2010", aviationpros.com, April 22, 2010
  38. ↑ "I.D. Systems Named to Deloitte Technology Fast 500 List", The Free Library, Oct. 19, 2005
  39. ↑ "I.D. Systems Makes Deloitte’s “Fast 500” List for Second Year in a Row", MHI, December 12, 2006
  40. ↑ "Technology Fast 500 Rankings", Deloitte, retrieved May 27, 2013
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