ViryaNet Welcomes Another Utility Customer
Southborough, Mass. - July 7, 2003 - ViryaNet (NASDAQ: VRYA), a leading provider of integrated mobile and Web-based software applications for workforce management and the automation of field service delivery, today announced that Louisville Water Company selected ViryaNet Service Hub for Utilities for its field workforce management project. Louisville Water Company (LWC), a publicly owned and privately operated for-profit utility, provides water to more than 800,000 people in
Greater Louisville, Kentucky, and parts of Oldham and Bullitt Counties, also in Kentucky.
LWC will use Service Hub for Utilities suite of applications, consisting of mobile workforce management, advanced scheduling optimization, mapping, wireless reporting, and automated workflow processing to improve the efficiency of its technicians and field service business processes. LWC's technicians engage in such field activities as performing meter exchanges, emergency responses, service connect and
disconnects, and preventive maintenance on assets such as hydrants, valves, etc.
Service Hub for Utilities will optimally schedule and dispatch LWC field engineers with the right information, parts, and customer information; capture logistics and labor activity at the source; and monitor, report, and measure field activity through key performance indicators. In addition, ViryaNet Service Hub for Utilities will improve many service business steps with automated workflow as well as
integrate with several existing LWC systems to improve the quality of customer interactions and billing activities.
"LWC engaged in very careful due diligence, looking at all the major solution providers, and found ViryaNet Service Hub to contain the most powerful scheduling algorithm, rich functionality, robust integration capabilities, and state-of-the-art mobile technology - all on an industry standard web and wireless platform," said G Seetharam, Project Manager, Louisville Water Company. "ViryaNet
Service Hub for Utilities will serve as the foundation upon which LWC will continue providing the highest quality service to our customers and empowering our employees with the tools needed to quickly and efficiently respond to our customer."
"LWC is a visionary company, with a strong heritage in providing quality service to its customer base," stated Win Burke, president and CEO, ViryaNet. "This newly-forged relationship with LWC endorses our commitment to the utilities industry and validates the ViryaNet offering as the only solution that automates the continuum of work activities in the modern utility enterprise - from short
duration tasks to multi-day, multi-resource projects. Our goal is to make LWC a another showcase site for the ViryaNet product, and continue supporting LWC's corporate goals for efficient and top quality customer service."
About Louisville Water Company
Louisville Water Company (LWC) provides water to more than 800,000 people in Greater Louisville and parts of Oldham and Bullitt counties. The Company delivers on average 127 million gallons of water per day. In addition to retail customers, LWC wholesales water to utilities in Shelby, Oldham, Bullitt, Spencer, and Nelson counties.
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 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 utility, telecommunications, high-technology manufacturing, grocery and retail, HVAC, and other industries use Service Hub to transition complex service business processes into a manageable, scalable Internet operation, with the goal of maximizing service revenues, decreasing service costs, tracking fleet inventory and increasing customer service.
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 including integration of other businesses, its future business prospects, its future financial performance, its future cash position, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet Ltd. as of the date hereof, and ViryaNet Ltd. 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 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.