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Cloud Based Solution Delivers Vast Savings On Vehicle Recognition Transactions At Less than 75 Cents Per 1,000 -- With Greater Than 99 Percent Accuracy
CHANTILLY, VA / ACCESSWIRE / May 29, 2019 / Rekor Systems, Inc. (REKR) ("Rekor"), a leading provider of innovative vehicle recognition systems, announced today the launch of NUMERUS™, its cloud-based solution designed to reduce costs and increase efficiencies for the electronic toll collecting ("ETC") industry. Numerus™ easy to implement cloud-based solution costs less than 75 cents per thousand for greater than 5 million transactions per month. Beyond reading a license plate with industry leading accuracy, NUMERUS™ provides unique two-part authentication by instantly identifying the vehicle's make, model, color and body type along with the license plate read. NUMERUS'™ machine learning enabled software recognizes license plates from all 50 U.S. states, in addition to plates from more than 70 countries around the globe on six continents.
According to KPMG's Tolling Benchmarking study, owners and operators of toll facilities have two levers for improving operating results: increase revenues or decrease costs. However, the vast majority of respondents to their comprehensive tolling industry study say they have little to no flexibility in driving new revenue by adjusting toll rates. As a result, many are now focusing on the cost side of the equation, where new collection and back office technologies are creating opportunities as well as challenges.
NUMERUS™ is a cost-effective solution for tolling created through customer engagement research and development. Uses for this product also extend to other applications that require superior accuracy, volume and speed, such as customer loyalty, congestion pricing and variable speed monitoring, where cost and ease of integration are major factors.
"Our disruptive pricing combined with industry-leading license plate reading accuracy is a game changer for the global ETC industry," said Robert A. Berman, President and CEO of Rekor. "We offer a simple and scalable cloud-based product that can easily integrate with virtually any single or interoperable tolling system. On average, traditional technology can cost toll operators upwards of $290 per thousand transactions , with vehicle mounted identification tags, such as EZ-PASS comprising a substantial portion of these costs. By supplementing these existing technologies with NUMERUS™, tolling authorities can realize vast economies and significantly increase their bottom line. The cost efficiencies are staggering."
To learn more about the NUMERUS™ electronic tolling solution from Rekor, please visit our website.
About Rekor Systems, Inc.
Rekor Systems, Inc., a Nasdaq-listed (REKR) Delaware company, is the parent of Maryland-based Rekor Recognition Systems, Inc. Our smarter, faster, cost-competitive solutions are disrupting major industries in over 60 countries across the globe, including security and surveillance, public safety, electronic toll collection, brand loyalty, parking operations, banking and insurance, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams images and transform them into extract actionable information for our clients. Our machine learning enabled software can turn most IP cameras into highly accurate and affordable vehicle recognition devices. Rekor provides advanced vehicle recognition systems, powered by its innovative OpenALPR software, which dramatically improves the accuracy of license plate reads and can also identify the make, model and color of vehicles. Rekor's solutions include mobile and fixed license plate readers, "Move Over" law enforcement, school bus stop-arm enforcement, and red light and speed enforcement, parking enforcement and citation management. Rekor's solutions help to protect lives, increase brand loyalty, and manage complex supply chain logistics. Our systems can dramatically reduce the cost of collecting tolls on major highways or manage congestion in the bumper-to-bumper traffic of large cities, without the need to install expensive new infrastructure. We make what was once considered impossible, possible. To learn more please visit our website: https://rekorsystems.com.
This press release includes statements concerning Rekor Systems, Inc. and its future expectations, plans and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size of the market for global ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.
FischTank Marketing and PR
Rekor Systems, Inc.
1. KPMG Toll Benchmarking Study - 2015
2. Ibid page 22
SOURCE: Rekor Systems, Inc.
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