Southborough, Mass. - February 20, 2006 -ViryaNet Ltd. (Nasdaq: VRYA), a leading provider of integrated mobile and Web-based software applications for workforce management and field service delivery, today announced the release and availability of ViryaNet Service Hub 8.6.
"Feature rich and benefits oriented, the development of ViryaNet Service Hub 8.6 was truly an effort guided by our customers," stated Memy Ish-Shalom, president and CEO, ViryaNet. "The product will help companies increase the efficiency of their technicians and dispatchers, heighten management awareness of field activity, and improve responsiveness to and satisfaction of customers. ViryaNet invests significantly in its R&D and is committed to continuously enhance
ViryaNet Service Hub and develop new functionality, with the primary objectives of satisfying the expanding needs of our customers and maintaining our technical leadership in the marketplace."
ViryaNet Service Hub 8.6 boasts many new features, enhanced functionality, and major technological improvements, including:
Mobile Computing and Reporting - ViryaNet Service Hub 8.6 includes industry-first capabilities that allow technicians to completely manage field assets as well as have insight into home-office inventory levels. Broadened functionality that includes task management features such as "quick ship," "search inventory," "request parts," "manage van contents," "manage pick lists," and "ship-and-receive" cuts costs and increases
productivity.
Mobile Workforce Management, Scheduling, and Dispatch - ViryaNet Service Hub 8.6 offers several major improvements to Service Scheduler, the Company's advanced optimizing module. Enhanced algorithms, faster performance, increased scalability, and greater load balancing capability enable service companies to manage even more tasks and more engineers. Since its market introduction, Service Scheduler has helped many ViryaNet customers dramatically cut costs and enhance customer
satisfaction.
Service Hub 8.6 also assists dispatchers as well as managers identify the location of multiple technicians' routes on a single color-coded map view. Additionally, the new release features navigational enhancements to the dispatch board as well as new, individual employee and group calendar management functionality.
Time Sheets - ViryaNet Service Hub 8.6 introduces the full roll out of comprehensive time sheet management and reporting capabilities, with functionality for collecting and entering data, managing on-the-device forms, and automating approval processes. This new module, developed for several ViryaNet customers within the utility, telecommunications, and retail industries, enables service companies to automate time reporting for service orders (calls/actions) and other labor intensive
activities. Time sheet functionality can accommodate a wide range of staff, including field engineers, sales persons, and office workers.
Pricing and Availability
ViryaNet Service Hub 8.6 pricing is based on the number of users and application functionality deployed, enabling significant ROI for organizations of varying sizes. ViryaNet Service Hub 8.6 is available immediately for general distribution and implementation.
Tried and Proven Application
ViryaNet Service Hub 8.6 is the newest and latest release of the proven ViryaNet Service Hub solution, originally made available in 2000 and installed at numerous customer sites in a diverse range of industries, including utilities, telecommunications, manufacturing, and retail.
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.
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 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.
###