April 25, 2006
Leading North American Energy Company Vectren Corporation’s Vectren Energy Delivery and Viryanet to Demonstrate Value of ViryaNet Scheduling Solution During Free Web Seminar
SOUTHBOROUGH, MA - April 25, 2006 - ViryaNet Limited (Nasdaq: VRYA), a leading provider of solutions that automate business processes for mobile workforce management and field service delivery, announced today that it will conduct an industry web seminar entitled "Optimizing Field Resources: The Value as Experienced by Vectren Corporation".
The web seminar will be presented live by Rick Schach, Vice President, Vectren Energy Delivery, and Jack McAvoy, Vice President of Marketing, ViryaNet, and will be followed by a question and answer session. The seminar will take place on Tuesday, May 9, 2006 from 12:00 PM to 12:45 PM EDT. Attendees will learn how Vectren, a ViryaNet customer since early 2004, has benefited from ViryaNet's mobile workforce management solution, in terms of optimizing its resources, reducing travel time and overtime, and improving customer service and satisfaction.
ViryaNet's solution can help companies reduce their field service expenses by improving the assignment and execution of field work through optimization.
The seminar, targeted towards companies with field service operations, will discuss industry best practices, real-life examples, and solution benefits of the ViryaNet Service Scheduler, an advanced optimization and scheduling product, which includes algorithms that are based on heuristic logic and mathematical principles.
"Service Scheduler has generated incremental savings in areas of less drive time and reduced overtime, said Rick Schach, Vice President, Vectren Energy Delivery."
"Many workforce management vendors say that they have optimization, but there are significantly different approaches within the market", stated Jack McAvoy, Vice President of Marketing, ViryaNet. "Whereas other products offer route optimization, which simply finds the least-cost route for a technician after service orders already have been assigned, ViryaNet offers day-ahead as well as same-day schedule optimization, which evaluates all potential assignments against the available and capable resources, including people (and their skills), parts, and materials. It also provides the least costly route of each technician across his service assignments."
To register for the web seminar, visit www.viryanet.com or call 800-661-7096.
ViryaNet is a provider of software applications that improve the quality and efficiency of an organization's service operations. ViryaNet's products enable companies in the utilities, telecommunications, retail and general service sectors to manage and optimize mission-critical business processes, resulting in increased service revenues, decreased service costs, and maximized customer satisfaction. The robust set of applications help companies improve workforce scheduling, dispatching, and activity reporting; customer contract and entitlement automation; and asset, logistics, and depot repair management. 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 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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