DENVER, Aug. 27, 2019 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | OTC: TKXHF | FSE :3TH) (“TrackX” or the “Company”), a SaaS-based enterprise asset management solution provider, is pleased to announce that Polaris Inc. (PII), a global leader in powersports valued at over $5 billion, has chosen TrackX to deliver its Global Asset Management for Enterprises (GAME) solution for recreational vehicle inventory management at its facility in Wyoming, Minnesota, as the first of a multi-facility initiative. Leveraging GPS and active RFID tags on its vehicles, TrackX will provide critical real-time visibility to these high-value assets as they move not only throughout Polaris’ facilities, but also on test drives, at tradeshows and at other marketing events nationwide. GAME’s event management, workflow processing, and analytics will not only provide significant savings on inventory loss and insurance liability, but also provide operational efficiency while reducing overall labor costs.
The deployment of this solution will result in real-time data and analytics derived from active RFID and GPS technologies attached to ATVs, snowmobiles, motorcycles, and other high value assets, amounting to approximately 3,000 vehicles at any one time. By capturing data through fixed RFID readers at various choke points throughout the facility, Polaris will have visibility into key metrics around asset dwell times, maintenance scheduling, inventory levels, and specific vehicle location both in the facility and at off-site locations. TrackX revenues will be generated largely from recurring SaaS license fees along with associated implementation and configuration services.
“Polaris has an extremely diverse asset base that is often exposed to equally diverse conditions resulting in a need to have a wide variety of different IoT technologies to support our solution,” said Mallory Apperson, global environment health and safety manager at Polaris. “TrackX’s flexibility in technology and ability to implement these technologies simultaneously was a major factor for Polaris’ decision.”
“This significant opportunity within Polaris is a further testament to the power of GAME in managing the very diverse business processes, asset classes and business workflows of our customers. Once a customer has implemented GAME, its ability to track other assets, across multiple locations, with completely different tagging technologies and IoT sensors can be easily accommodated, creating further savings, incremental leverage and additional value for our customers,” stated Tim Harvie, TrackX CEO.
As the global leader in powersports, Polaris Inc. (PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. With annual 2018 sales of $6.1 billion, Polaris’ high-quality product line-up includes the Polaris RANGER, RZR and GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; snowmobiles; and deck, cruiser and pontoon boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets includes military and commercial off-road vehicles, quadricycles, and electric vehicles. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com
TrackX Holdings, Inc., based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IIoT) by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
For more information, please contact:
Gene McConnell, TrackX Holdings Inc.
Sean Peasgood, Sophic Capital
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.