ATLANTA and LAS VEGAS, April 25, 2013 /PRNewswire/ -- IVM Inc., a premier international vending management and automated supply distribution company, today announces an agreement with Innovolt® Inc., where IVM will purchase Innovolt's products and license its technology to guard against power related disruptions experienced in vending equipment. These disruptions, including lockups in retrieval arms and dispensers, coin jams, transaction malfunctions, and compressor failure, are costly to IVM's customers. Innovolt is the industry leading provider of power protection through its Intelligent Asset Management technology, which directly addresses these disruptions. Through this partnership Innovolt's technology will be implemented into vending platforms distributed by IVM to clients such as Facebook, Logitech and General Electric. Innovolt's power management and protection technology will be deployed alongside IVM's currently installed field assets, as well as outfitted as part of new projects shipping from IVM production facilities.
"Power fluctuations cause a host of disruptions for vending equipment so Innovolt's technology platform is a perfect fit for an industry like vending where machine reliability is so crucial for revenue generation. We are very excited to be working with IVM," states Jeff Spence, COO and president of Innovolt. "With this partnership Innovolt makes a significant move into the vending market where our patented technology will provide optimal protection for this type of equipment, which needs to run regardless of the consistency or quality of the available power."
Evolution of Vending
Vending machines are most commonly known as machines that provide quick access to snacks and drinks for hungry students or employees, until recently. Now they are popping up in places like taxi cabs, hotels and department stores offering customers far more than chips and soda, like electronic devices and games. As a $28 billion industry, the vending market is continuing to grow due to broadening of its product offering and the use of innovative new technology.
President of IVM Mike Pitts says, "We have been offering vending and distribution programs to the marketplace since 1991 and we have been at the forefront of the development of vending technology to help develop a more efficient workplace. Proof of this evolution can be seen through our recent project working with Facebook to create and deploy vending machines that distribute computer supplies. The distribution of IT supplies via vending is becoming much more common and I predict we will see an increase in innovative uses of vending going forward."
With the demand of immediate access and convenience rising, vending and self-service offerings are becoming a vital part of the future. Given the wide range in use cases for this equipment, demand from end-users continues to increase, meaning when equipment experiences downtime it can be damaging to productivity, revenue and the customer experience. This growing need demands enhanced protection from power related problems, which when implemented can decrease service calls and increase the machines' reliability.
The Need for Intelligent Asset Management
Ever since Innovolt entered the marketplace in 2009, the company has provided patented and proven intelligent electronics protection and asset management technology for hundreds of millions of dollars of installed systems in the commercial and industrial markets.
Often deployed in environments with unstable power, vending machine downtime can result in unnecessary service calls and negative customer experiences. Deploying vending machines with Innovolt's technology protects equipment from power related disturbances and prevents costly service issues before they negatively impact business.
Innovolt and IVM are unveiling this news during the NAMA OneShow taking place April 24-26 in Las Vegas. Visit Innovolt's booth, #1641, to learn more.
Innovolt® combines patented electronics protection technology with comprehensive monitoring and analytics applications to deliver the leading Intelligent Asset Management platform. Significantly reducing the cost of electronics ownership, Innovolt intelligently protects and manages the productivity and usable life of the technology that powers today's digital world. The company's proven solutions guard expensive and sensitive electronic assets against the damaging effects of power disturbances while simultaneously giving businesses the tools they need to predict, measure, and maximize their performance across the distributed enterprise. Innovolt has also been acknowledged as a fastest growing technology company by the Technology Association of Georgia, Atlanta Business Chronicle, American Business Awards, Lead411 and is also a finalist for Forbes list of America's Most Promising Companies. For more information, visit www.innovolt.com.
About IVM, Inc
Founded in 1991, IVM remains true to its original mission: developing high-level systems that maximize revenue and manage distribution through the technology of total control. TODAY, IVM effectively manages the traditional vending programs for hundreds of clients across thousands of locations around the world. IVM has invested in vending-based processes and software technology that will manage snack and beverage vending contracts across multiple locations assuring best prices and profit margins. IVM also offers technologically advanced systems that can reduce expenses by utilizing vending-based supply distribution systems to control access to supplies such as tools, personal protective equipment (PPE) inventory, office products, MRO products, IT peripheral products, etc. Any supplier can equip you with a vending machine, but only IVM technology delivers the power of automated distribution: reduced supply costs, controlled product usage and reduced legal exposure.