ViryaNet Builds on the Momentum of 2001 to Continue Record of Strong Implementations and Increased Customer Satisfaction
Southborough, Mass. - March 11, 2002 - ViryaNet (NASDAQ: VRYA), a provider of integrated wireless and Web-based software applications for workforce management and the automation of field and enterprise-wide service delivery, today announced the promotions of Stuart Chandler to vice president, account management and Jim Robidoux to vice president, professional services.
Mr. Chandler, director of professional services since October 2000, and Mr. Robidoux, director of professional development and a ViryaNet employee since November 1996, have both been instrumental in instituting significant process improvements in the area of implementation and deployment of the Company's products.
"Organizations within all of our target industries are demanding a faster return on their investment," said Memy Ish-Shalom, COO, ViryaNet. "Over the past two years, Stuart and Jim have demonstrated leadership qualities associated with process improvement and change management, which have resulted in quicker customer 'go lives'. During each month in 2001, we experienced approximately one new customer deployment. The result: customer satisfaction is at an all-time high, and investment payback is said to have accelerated. The promotions of Stuart and Jim reflect our commitment to supporting and strengthening these groups."
"Our goal in account management is to gain higher levels of customer satisfaction and loyalty," said Stuart Chandler, vice president, account management, ViryaNet. "ViryaNet's success is directly linked to the success of its customers. With our recent acquisition of iMedeon, our customer base has increased to approximately 60 organizations. We will continue to build strong relationships with all of our customers, new and existing, for our mutual advantage."
"As we move forward in 2002, the professional services team will build upon our previous successes by developing consistent, repeatable processes; standardizing methodology and tools; and maintaining and increasing profitability," said Jim Robidoux, vice president, professional services, ViryaNet. "Professional services will be structured to support a new level of achievement."
About ViryaNet
ViryaNet is a provider of software applications that improve the quality and efficiency of an organization's service operations. ViryaNet's flagship product - the award-winning ViryaNet Service Hub - combines the power of the Internet, the freedom of wireless technologies, and the resources of ViryaNet's deep service expertise to help companies improve workforce scheduling, dispatching, and activity reporting; customer contract and entitlement automation; and asset, logistics and repairs management.
Customers in the consumer goods, grocery and retail, telecommunications, manufacturing, utilities, third-party maintenance, and other industries use ViryaNet Service Hub to transition complex service business processes into manageable, scalable Internet operations, with the goal of increasing service revenues, decreasing service costs, and maximizing customer satisfaction.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding ViryaNet's expectations, beliefs, intentions, or strategies regarding the capabilities of its products, its relationships with its customers, its customer purchases, its future operational plans and objectives, its future business prospects, its future financial performance, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet Inc. as of the date hereof, and ViryaNet Inc. assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet's business include market acceptance of and demand for the Company's products, risks associated with a slow-down in the economy, risks associated with the financial condition of the company's customers, risks associated with the events associated with the September 11, 2001 terror attacks in the US, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet's Form F-1, as amended, declared effective by the SEC on September 19, 2000, and the other reports filed from time to time with the Securities and Exchange Commission. Reported results should not be considered an indication of future performance. You should not place undue reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.