DENVER, Sept. 08, 2021 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | OTC:TKXHF | FRANKFURT:3TH) (“TrackX” or the “Company), a leading provider of SaaS-based enterprise tracing, tracking and collaboration solutions, announced today that it has expanded its presence in the automotive industry by completing an initial implementation with one of the largest U.S. national online auto retailers (the “Customer”) to deploy a system-wide, real-time inventory tracking and optimization solution. TrackX continues to execute on its mission to become the visibility, collaboration and transparency platform of choice for industries that are investing heavily in supply chain digital transformation for greater efficiency, responsiveness, and resiliency.
The Customer facilitates the sale, reconditioning and delivery of thousands of vehicles each year to consumers nationwide. To accomplish this quickly and profitably, it is imperative that the Customer has real time visibility to the location, status, make and model of vehicles on hand across multiple storage and processing locations. The TrackX Solution will provide, for the first time, an automated, accurate and up-to-date accounting of vehicle inventory for audit and governance purposes, eliminating costly and time-consuming manual data collection. They will gain end-to-end insight as to the state and location of all vehicles on hand, making the process of accessing and moving vehicles much more efficient. By tracking pertinent information about every vehicle, TrackX will become the system of record for key metrics such as car dwell time, cycle time, reconditioning performance, inventory turn-over rates and other critical analytics.
“We are excited to be expanding our presence within the automotive industry through this implementation with one of the fastest growing companies in the online used car retail space,” said Tim Harvie, CEO of TrackX. “Their buyers want their car right away and will purchase from the company that can get a vehicle to their location the fastest and at the lowest cost. TrackX will help make this possible by giving our client and their trading partners the data and insights they need to beat the competition on both speed and quality.”
Customers choose TrackX because it is one of the only companies to offer an enterprise scalable supply chain platform that is highly configurable, works with a wide array of tracking technologies, supports the aggregation of data across multiple locations, drives efficiency through comprehensive control tower analytics and easily integrates with other operational systems necessary to support the business. Combined with decades of supply chain experience, these attributes set TrackX apart and will be a catalyst to further success within the automotive industry.
About TrackX
TrackX, Inc. (TSX.V: TKX), based in Denver, Colorado, is the SaaS-based enterprise tracing, tracking & collaboration solution that leading brands trust to achieve more sustainable and better performing supply chains. TrackX solutions are built on an enterprise scalable and fully customizable platform that leverages a broad array of RFID, IoT (Internet of Things) and Sensor Technologies to provide item level visibility to customers across a broad array of industries, including food, beverage, brewery, automotive, retail, financial services, technology and government. For more information, visit www.trackx.com.
For more information, please contact:
Marc Spezialy, TrackX Holdings Inc.
investor@trackx.com
303-325-7300
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.
