Leading Electric and Gas Utility Experiences Rapid ViryaNet Implementation
Southborough, Massachusetts - September 29, 2005- ViryaNet, Inc. (NasdaqSC: VRYA), a leading provider of software applications for mobile workforce management and field service delivery, today announced that a major utility, serving energy wholesale and retail markets in the United States, has gone live, after approximately 20 weeks, with ViryaNet Service Hub for Utilities.
The customer, unnamed for confidentiality and competitive purposes, has implemented ViryaNet Service Hub for Utilities in the gas operations of its business to improve the operational performance of its field service organization. ViryaNet Service Hub for Utilities now optimizes the scheduling of these field service technicians across their service territory, using such criteria as proximity to job, skills, work order types, priority, and more.
Through its deployment of ViryaNet Service Hub, the customer expects to increase its service revenue, improve field staff productivity and reporting, reduce capital needs, and improve response times to boost customer satisfaction.
"In this aggressively competitive marketplace, utilities strive to improve the customer experience while reducing operational costs," stated Dennis Boyd, vice president, project delivery, ViryaNet. "We are delighted to have implemented this project within such a short period of time, allowing this world-class company to achieve new levels of efficiency and to better serve its constituents."
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 — 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 utility, telecommunications, grocery and retail, and other service industries use ViryaNet Service Hub to transition complex service business processes into a manageable, scalable Internet operation, with the goal of increasing service revenues, decreasing service costs, and maximizing customer satisfaction. Visit ViryaNet at www.viryanet.com.
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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 20-F, dated July 15, 2005, 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.
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