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Survey Reveals Rapid ROI With RFIDMore Than Half of Companies Surveyed Are Implementing or Piloting RFID Technology (July 17, 2012)
YONKERS, NY -- (Marketwire) -- 07/17/12 -- 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.
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 [email protected].
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
Tel 914-963-6600 x 209
CYBRA Investor Relations:
Marketing & Investor Relations
(914) 963-6600 x 223
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