Viryanet Ltd. (MM) (NASDAQ:VRYAD)
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ViryaNet (NASDAQ: VRYAD), a leading provider of software applications
that automate business processes for mobile workforce management, today
announced that one of the nation’s largest
utility companies, located in the Southeastern United States, has chosen
the ViryaNet technology to automate the activities of its field service
staff. The ViryaNet technology was selected through a rigid competitive
bid process that included numerous industry participants, including the
incumbent provider.
This tier-one utility, one of the largest and fastest growing utilities
in the United States, purchased ViryaNet technology and ongoing
maintenance through a ViryaNet strategic partner, a global systems
integrator. With its deployment of the ViryaNet technology, the customer
expects to increase its service revenue, improve customer satisfaction,
and derive significant operational efficiencies through increased
process automation, advanced reporting, and analytics.
The customer intends to use the ViryaNet technology to complement its
existing suite of CIS and human resource applications. The ViryaNet
technology includes an advanced algorithmic optimizer and a robust
mobile application that will be used by over 300 users in this initial
phase. The ViryaNet technology will optimally schedule these resources
based on location, skill sets, work to be done, and other corporate
business requirements; ensure work is properly dispatched; and provide
the field resources with a robust mobile platform for completing their
work.
"In this aggressively competitive marketplace, utilities strive to
improve the customer experience while reducing operational costs,"
stated Memy Ish-Shalom, president and CEO, ViryaNet. "We are delighted
to welcome another tier-one utility customer into the ViryaNet family.
This new ViryaNet customer is a testament to the successes within our
partner network. Our partners' market presence combined with the
world-class ViryaNet product is an unbeatable combination."
About ViryaNet
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 utility, telecommunications, retail, insurance, and
general service sectors to manage and optimize mission-critical business
processes. ViryaNet’s products improve the
functions of work order management, scheduling and dispatch, business
activity monitoring, and mobile field communication. Embracing a
business process management architecture, the ViryaNet products
intelligently guide, automate, and optimize field service work –
both simple and complex. The results are improved operational
performance, a better customer experience, and a higher degree of
regulatory compliance. 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.