2011 RFID Survey Finds More Than One Third of Companies Surveyed are Implementing or Piloting RFID technology.
CYBRA Corporation Survey Shows Increased Inventory Accuracy, Increased Profits and Improved Efficiency as the Top Three Benefits Sought with Radio Frequency Identification Adoption.
YONKERS, N.Y., July 19, 2011 /PRNewswire/ -- CYBRA Corporation (OTC BB: CYRP.OB), the developer of award-winning MarkMagic™ Bar Code Labels, RFID Tags, and Electronic Forms Software and EdgeMagic® Integrated RFID Control Software, just released the findings of their latest customer survey of RFID trends. Survey results mirror the industry trend towards increasing adoption of RFID technology.
An analysis of the results of an RFID survey of more than 100 companies conducted by CYBRA Corporation showed that 34% of organizations are using, piloting, or already in the process of implementing RFID technology. This is a 21% increase over a previous RFID survey conducted by CYBRA in 2008.
Other highlights from the survey include:
- Of organizations (regardless of their industry) who were either implementing RFID or evaluating the use of RFID, 80% of respondents agree that they will do it not only for EPC (Electronic Product Code) compliance, but because they realize they will maximize their profits.
- Improved Inventory Accuracy (60%) and EPC Compliance (55%) remain the top two business drivers that determine RFID adoption. Of those who cited EPC compliance as a driver of RFID adoption, (24%) also cited item level tagging as a current initiative.
- The top key anticipated benefits of RFID adoption are improved inventory accuracy (29%), increased profits (26%), and overall increase in efficiency (24%).
- The payback period, or ROI, of anticipated RFID investment was less than two years (44%). Respondents assert that the reason for this time frame is because RFID can reduce labor costs; software, tags, and hardware are now less expensive; and inventory accuracy can be greatly improved.
- Only 8% of respondents answered that they will not be using RFID at all. These respondents state that their reasons are that they are worried about high costs and that there isn't enough evidence of ROI. This is down from 2008, where 15% of respondents answered that they are not using RFID, and will not be using RFID in the future.
As an incentive for clients and prospective customers to participate in the survey, CYBRA offered a chance to win an Apple iPad2. Keith Shumaker of the J.M. Smucker Company was the prize winner.
About CYBRA Corporation
CYBRA Corporation is a leader in bar code and RFID technology serving customers in a wide range of industries. Thousands of organizations worldwide rely on CYBRA's innovative solutions daily as the Auto-ID engine underlying their critical applications for retail compliance, shipping, inventory, warehouse management, in-plant printing and print and apply automation.
A GS1 Solution Provider and an IBM Business Partner since 1989, CYBRA develops solutions in partnership with Alien Technologies, Avery Dennison , Impinj, Motorola, Psion Teklogix, SATO, Zebra Technologies, and other leading printer, reader, and RFID tag manufacturers. CYBRA is represented by a network of value added resellers throughout the United States and sales and support offices overseas.
MarkMagic™ Bar Code Labels, RFID Tags and Forms Software empowers customers to design virtually any type of Auto-ID document — labels, forms, RFID tags, tickets, magnetic stripe plastic cards — and print them on hundreds of types of general and specialized printers from laser to thermal to automated applicators. MarkMagic has been selected as the Auto-ID print engine of such leading software developers as Manhattan Associates™, Infor™ and VAI™.
CYBRA's latest product, EdgeMagic®, is a platform for rapidly building integrated applications that locate objects and people using RFID, RTLS and other tracking technologies. EdgeMagic provides customers with the ability to quickly implement EPC (Electronic Product Code) compliance systems, and RFID closed loop track and trace applications.
CYBRA software solutions run on all major computing platforms including IBM Power Systems (System i, iSeries, AS/400, AIX) as well as Linux, Unix, and Microsoft Windows.
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 firstname.lastname@example.org.
CYBRA Media Contact:
Sheldon R. Reich
Tel 914-963-6600 x 209
CYBRA Investor Relations:
Marketing & Investor Relations
(914) 963-6600 x 223
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.
SOURCE CYBRA Corporation
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