July 08, 2003
Spencer Technologies Selects ViryaNet Service Hub to Automate and Web-Enable Workforce Management Operations
Southborough, Mass. - July 8, 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 Spencer Technologies, headquartered in Worcester, MA, has chosen ViryaNet Service Hub to automate its activities associated with workforce management and asset and contract management.
Spencer Technologies provides cabling services, retail systems integration, and point-of-sale installations. Spencer Technologies currently employs approximately 125 field technicians, and utilizes several hundred third-party sub-contractors.
Under the terms of the contract, Spencer Technologies will deploy ViryaNet's full Mobile Workforce Management solution, as well as Service Supply Chain (eStock) and eContract to manage its installation and service business. Spencer Technologies expects to derive significant operational efficiencies through increased automation by deploying ViryaNet Service Hub platform and applications, and has calculated a payback associated with Service Hub in less than one year.
ViryaNet Service Hub will optimally schedule and dispatch Spencer field engineers with the right information, parts, and customer data; capture logistics and labor activity at the source; and monitor, report, and measure field activity through key performance indicators. In addition, ViryaNet Service Hub will improve many service business steps with automated workflow as well as integrate with several existing Spencer systems to improve customer-facing and billing activities.
"ViryaNet technology will support our commitment to improve productivity and efficiency," said Spencer Spokesperson Sue Curran, vice president of operations. "These applications will be an integral component of our strategy to schedule, dispatch, and optimize our workforce, improve our management of assets and inventory, and automate many of the tasks associated with contract management."
"Spencer is blending technology and strategy in new ways to anticipate customer needs, fulfill demands, build market share, and increase profits," stated Win Burke, president and CEO, ViryaNet. "ViryaNet's management team shares the Spencer passion for service excellence; every member of our team is committed to Spencer's long-term growth and success."
About Spencer Technologies
Spencer Technologies specializes in the installation and maintenance of retail's most advanced store automation equipment and network systems in commercial environments. Spencer Technologies' legacy relationships with some of retail's most innovative leaders are a testament to our consistent quality and ability to meet with the demands of the marketplace. With regional offices in California, Toronto, Tennessee, and Chicago, Spencer is able to deploy the necessary resources across the United States and Canada to assure a seamless, on-schedule installation and will continue to evolve as clients' needs grow and change.
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 telecommunications, utility, high-technology manufacturing, grocery and retail, HVAC, and other 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.
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, and its customer purchases. 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. 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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