Cloud Based Solution Delivers Vast Savings On Vehicle Recognition Transactions At Less than 75 Cents Per 1,000 -- With Greater Than 99 Percent Accuracy
Rekor Systems, Inc. (NASDAQ: REKR) ("Rekor"), a leading provider of innovative vehicle recognition systems, announced today the launch of NUMERUS™, its cloud-based solution designed to reduce costs and increase efficiencies for the electronic toll collecting ("ETC") industry. Numerus™ easy to implement cloud-based solution costs less than 75 cents per thousand for greater than 5 million transactions per month. Beyond reading a license plate with industry leading accuracy, NUMERUS™ provides unique two-part authentication by instantly identifying the vehicle's make, model, color and body type along with the license plate read. NUMERUS™ machine learning enabled software recognizes license plates from all 50 U.S. states, in addition to plates from more than 70 countries around the globe on six continents.
According to KPMG's Tolling Benchmarking study, owners and operators of toll facilities have two levers for improving operating results: increase revenues or decrease costs. However, the vast majority of respondents to their comprehensive tolling industry study say they have little to no flexibility in driving new revenue by adjusting toll rates. As a result, many are now focusing on the cost side of the equation, where new collection and back office technologies are creating opportunities as well as challenges.
NUMERUS™ is a cost-effective solution for tolling created through customer engagement research and development. Uses for this product also extend to other applications that require superior accuracy, volume and speed, such as customer loyalty, congestion pricing and variable speed monitoring, where cost and ease of integration are major factors.
"Our disruptive pricing combined with industry-leading license plate reading accuracy is a game changer for the global ETC industry," said Robert A. Berman, President and CEO of Rekor. "We offer a simple and scalable cloud-based product that can easily integrate with virtually any single or interoperable tolling system. On average, traditional technology can cost toll operators upwards of $290 per thousand transactions , with vehicle mounted identification tags, such as EZ-PASS comprising a substantial portion of these costs. By supplementing these existing technologies with NUMERUS™, tolling authorities can realize vast economies and significantly increase their bottom line. The cost efficiencies are staggering."
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ: REKR), a Delaware company, is the parent organization of Maryland-based Rekor Recognition Systems, Inc. Rekor provides advanced vehicle recognition systems, powered by its innovative OpenALPR software, which dramatically improve the accuracy of license plate reads and also identify the make, model and color of vehicles. Rekor's products can be used for law enforcement, security and surveillance, electronic toll collection, parking operations, banking and insurance, logistics, traffic management and customer loyalty. Rekor's solutions include mobile and fixed license plate readers, "Move Over" law enforcement, school bus stop-arm enforcement, red light and speed enforcement, parking enforcement and citation management. Rekor's applications and solutions are intelligent, flexible, and leading the next generation of ALPR.