AIRPORT CITY, Israel, March 30, 2017 /PRNewswire/ --
MySize Inc. (the "Company") (NASDAQ: MYSZ; TASE: MYSZ), developer of proprietary, smartphone measurement applications, announced today the completion of the beta-pilot testing phase and the beginning of the commercial phase of the KatzID, a courier measurement application(app) developed by MySize.
Katz Corporation CEO Dror Katz said, "Following the successful pilot conducted at Katz Shipping's logistic center, starting in April 2017, KatzID will be made available to Katz' employees to improve control procedures over the parcels it transfers. As a result of accurate measurements, we expect KatzID will provide Katz a significant yearly savings that is estimated to increase the company's annual income by about 2.5%, to around one million US dollars. The Katz team is invited to download the application from the Apple store, and use it to measure packages."
KatzID is a customized, white label version of an intuitive parcel measurement app that empowers employees to easily and quickly measure the size of a parcel and calculate its exact shipping cost. KatzID also provides the courier company with additional abilities and stream of accurate logistics data such as barcode scanning, package pictures, location and more which connect to Katz' ERP system to better manage their delivery processes.
By adopting MySize's technology, Katz intends to:
- accurately monitor the volume of all parcels and charge clients accordingly.
- reduce operational costs by adjusting the number of distribution vehicles accordingly with the 'real' volume of shipments.
- enable the installation of the application on the driver's platform so they may document the volume of the parcels. Drivers would be rewarded if they reach defined distribution volumes.
- in the future, enable its clients to simultaneously measure their parcels, monitor their shipment volumes and obtain a price proposal prior to shipment.
Note: KatzID first photographs a parcel and records its volume and weight. The data is then forwarded to the client for his records.
"Today marks a major milestone in the development of a very important product that is going to significantly improve today's shipping process. It is a pleasure working with the professional team at Katz, who understood from the start the immense value of KatzID and enthusiastically joined us on what has been an exciting adventure. We look forward to continuing on this road with the goal of making KatzID and other white label products for the courier market, an industry standard," said MySize Inc. CEO Mr. Ronen Luzon.
According to marketrealist.com, globally the courier services market includes 7500 companies representing about 90 billion dollars in revenue.
About Katz Corporation
Katz Corporation is the second largest delivery company in Israel. The company has more than 550 employees and delivers more than five million packages annually. To learn more about Katz Shipping, please visit: http://www.katzd.co.il/
MySize Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting edge technology with broad applications including apparel industry, e-commerce, shipping and parcel industry measurement. This proprietary technology is driven by several patent-pending algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit our website. http://www.mysizeid.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include: an active trading market for our common stock may not develop on NASDAQ; the trading price for our common stock may fluctuate significantly; and the Company will continue to be a "controlled company," as defined under NASDAQ rules, and the interests of our controlling stockholder may differ from those of our public stockholders. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE MySize Inc.