Visionstate’s Wanda IoT Solution to Be Enhanced by New RFID Technology
November 25 2020 - 9:00AM
Visionstate Corp. (TSX-V: VIS)
(“Visionstate”) is pleased to announce that it has sold an
application for RFID technology (Radio Frequency Identification),
which will be leveraged to enhance the growing suite of products
under the Wanda smart technology platform, to a company in the oil
and gas sector.
The RFID solution provides a company that rents
equipment in the oil and gas sector with an ability to track and
streamline inventory and product movement. Each product is tagged
with an RFID tag and can be tracked using RFID readers as it enters
and exits defined areas such as warehouses or supply rooms.
“Tracking critical assets is an important part
of efficient operations,” says Visionstate CEO John Putters. “RFID
tracking helps control inventory and accurately measure its use and
consumption.”
Visionstate’s oil and gas client was challenged
by the number of products travelling in and out of the main
warehouse, especially since the product is rented to customers in
remote locations. The RFID application addresses this problem by
tagging products and tracking them through the sales cycle. This
has improved inventory management and provides more accurate data
for billing purposes based on the length of time the product was
rented.
According to Grand View Research, the market for
RFID application is expected to grow to $40.5 billion by the year
2025. Similarly, the IoT or Internet of Things market is also
expected to grow significantly over the next several years as wider
adoption occurs.
Visionstate IoT Inc., a wholly owned subsidiary
of Visionstate Corp., is working on applying the technology to its
proprietary Wanda solution which tracks cleaning activities in
public facilities. Wanda, which is installed in hospitals,
airports, office buildings, shopping centres and sports facilities
across North America, provides detailed analytics to facility
managers on the efficiency of cleaning and resource use.
“With RFID technology our capabilities in
tracking the use of resources will be significantly enhanced,”
Putters explains. “Not only can we use RFID to track the movement
of physical resources, but we can also measure the amount of time
frontline staff are involved in the cleaning of specific
areas.”
Wanda already tracks cleaning activities and
foot traffic. With the RFID technology in place, the return on
investment for customers will be even greater.
About Visionstate Corp.
Visionstate Corp. (TSX-V: VIS) is a
growth-oriented company that invests in the research and
development of promising new technology in the realm of the
Internet of Things, big data and analytics, and sustainability.
Through Visionstate IoT Inc., it helps businesses improve
operational efficiencies, reduce costs and elevate customer
satisfaction with its state-of-the-art devices that track and
monitor guest activities and requests. The footprint of its WANDA™
smart device now extends to hospitals, airports, shopping centres
and other public facilities across and beyond North America.
Through building up a collection of synergistic technologies,
Visionstate Corp. will continue to innovate, reduce environmental
impact and transform consumer experiences.
Issued on behalf of the Board of Directors of Visionstate
Corp.
“John A. Putters”
Visionstate Corp.
Visionstate Corp. |
Website: www.visionstate.com |
John Putters, CEO |
Twitter: @visionstate |
(780) 425-9460 |
Facebook: @visionstate |
jputters@visionstate.com |
LinkedIn:@VisionstateCorp. |
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