Survey Reveals Rapid ROI With RFID
July 17 2012 - 12:13PM
Marketwired
CYBRA Corporation (OTCBB: CYRP), the developer of EdgeMagic®
Integrated RFID Control Software and award-winning MarkMagic™ Bar
Code Labels, RFID Tags, and Electronic Forms Software has released
the findings of their latest customer survey on RFID trends.
The survey results show an upward trend in the adoption of RFID
technology. CYBRA's first RFID Survey was conducted in 2008, in
which only 21% of companies stated that they use RFID technology.
According to the new survey, an amazing 54% of organizations are
using, piloting, or already in the process of implementing RFID
technology. This is a stunning 157% increase in just four years.
According to the recent survey, 81% of respondents expect to
achieve their Return on Investment (ROI) in three years or less, up
from 72% in the previous survey. These statistics reveal that a
growing number of companies are increasingly investing in RFID
technology and shortening their payback period.
Furthermore, of the respondents who claim they are already using
RFID technology, 70 percent are regular users or are in the
implementation phase. This year's study also shows that only 19% of
respondents have no interest in RFID. These respondents are
typically worried about high costs and don't see evidence of
ROI.
Other highlights from the new survey include:
- Of organizations that are not yet using RFID technology, 70% of
respondents state that they have plans to implement RFID in the
future.
- Of organizations that were either implementing RFID or
evaluating the use of RFID, 74% of respondents indicate that they
will do it not only for EPC (Electronic Product Code) compliance,
but also to improve product track and trace capabilities.
- Tracking Products (67%) and Improved Inventory Management (62%)
remain the top two business drivers that determine RFID
adoption.
- The key anticipated benefits of RFID adoption are improved
inventory accuracy (42%), increased distribution center efficiency
(30%), and improved customer service (28%).
"This year's RFID survey results are a clear indication that
businesses are beginning to understand the benefits that RFID
technology can bring to their organizations," commented Harold
Brand, President and CEO of CYBRA Corporation. "They also reflect a
growing realization that RFID investments result in a shortened
return cycle than was previously believed."
As an incentive for clients and prospective customers to
participate in the survey, CYBRA offered a chance to win the third
generation Apple iPad. Bob McVay of Hamilton Beach Brands was the
prize winner.
About CYBRA
CYBRA Corporation is a world leader in bar code and RFID
technology for IBM midrange systems. An IBM Business Partner and
Motorola/Symbol Partner, CYBRA is represented by a network of value
added resellers throughout the United States and has international
sales and support offices.
MarkMagic™ Bar Code Labels, RFID Tags and Forms Software is used
by thousands of AS/400 and System i customers worldwide, and has
been selected as the bar code print engine of such leading System i
software developers as Manhattan Associates™, Infor™ and VAI™.
CYBRA's latest product, EdgeMagic® is the only integrated RFID
control solution for the IBM System i. EdgeMagic helps customers
build any type of RFID system, from complying with the full range
of RFID mandates as well as closed loop asset management RFID
applications.
CYBRA Corporation is located at One Executive Boulevard,
Yonkers, NY 10701. Product information is available toll free at
1-800-CYBRA-88. CYBRA's web site is located at www.cybra.com. To
request information via e-mail, write to info@cybra.com.
Forward-Looking Statements
This release and other statements issued or made from time to
time by the Company or its representatives contain forward-looking
statements within the meaning of Rule 175 of the Securities Act of
1933, as amended, and Rule 3b-6 of the Securities Exchange Act of
1934, as amended, that involve substantial risks and uncertainties.
These forward-looking statements are not historical facts, but
rather are based on current expectations, estimates and projections
about our industry, our beliefs and our assumptions. Words such as
"anticipates", "expects", "intends", "plans", "believes", "seeks"
and "estimates" and variations of these words and similar
expressions are intended to identify forward-looking statements.
These statements are not guarantees of future performance and are
subject to risks, uncertainties and other factors, some of which
are beyond our control and difficult to predict and could cause
actual results to differ materially from those expressed or
forecasted in the forward-looking statements.
These forward-looking statements include statements regarding
projected revenue and income in future quarters and our beliefs
with respect to the growth in the demand for our products. Other
risks and uncertainties that may affect our business include our
ability to expand beyond the IBM System i market for MarkMagic and
expand into the radio frequency identification ("RFID") market with
EdgeMagic; our ability to penetrate the emerging and competitive
market for bar code and RFID encoding software; our ability to
introduce, produce, improve and market new and existing products,
such as MarkMagic and EdgeMagic, and the market acceptance of these
and other products; the impact of competitive products and pricing;
and our timely development of new products and market acceptance of
those products. Actual results may differ from those expressed or
implied in our forward-looking statements. These statements
represent beliefs and expectations only as of the date they were
made. We may elect to update forward-looking statements, but we
expressly disclaim any obligation to do so, even if our beliefs and
expectations change. In addition to the statements described above,
such forward-looking statements include the risks and uncertainties
described more fully in our reports filed or to be filed with the
Securities and Exchange Commission, including our annual reports on
Form 10-K and quarterly reports on Form 10-Q.
CYBRA Media Contact: Sheldon R. Reich V.P., Solutions
CYBRA Corporation Tel 914-963-6600 x 209 sreich@cybra.com CYBRA
Investor Relations: Yael Brand Marketing & Investor
Relations CYBRA Corporation (914) 963-6600 x 223
ybrand@cybra.com
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