Versatile Systems Inc.
TSX VENTURE : VV
AIM : VVS

Versatile Systems Inc.

January 24, 2008 04:00 ET

Versatile Completes First Phase of Contract Worth Up to $6.6 Million

Versatile deploys its proprietary technology Mobiquity Route™

VANCOUVER, CANADA--(Marketwire - Jan. 24, 2008) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS) today announced that it has completed the first phase of deployment of a route accounting system for a major U.S. food distributor. Versatile's Mobiquity Route™ 4.0 is the core driver of this system and will be used by the distributor throughout the United States and Canada. The solution includes Versatile's software, third party rugged hand held devices and Versatile services. Full deployment of the system is expected to take between 15 and 21 months and generate revenue of up to $6.6 million. The revenue will be recognized with the completion of each phase of the contract. In addition, Versatile expects the contract will generate significant recurring revenue from services, support and maintenance.

Mobiquity Route™ 4.0 is a full route accounting solution that provides data communication between a customer's ERP system, route sales force and distribution managers in near real time. Mobiquity Route™ 4.0 allows drivers to access current customer, pricing and inventory data; create and deliver orders in the field; and immediately communicate customer visit results to the corporate data center via GPRS.

Mobiquity Route™ 4.0 thereby greatly reduces or eliminates data blackouts by allowing drivers to transmit customer visit results and inventory levels after each stop. Operating on any ruggedized Windows Mobile 5 device with a built-in GPRS, the software transmits all pending orders, inventory transactions and completed invoices to the corporate ERP servers via HTTP. Where cell coverage is not available, data is held until a connection can be made.

In addition to increased data visibility, Mobiquity Route™ 4.0 allows drivers to capture the data managers need for accurate forecasting. Most route accounting packages will report how much was sold or what was taken back in returns. Mobiquity Route™ 4.0 will also provide information on how much could have been sold, if the product had been available on the truck. This 'capturing demand' feature helps managers decide how much inventory to put on the trucks the next day.

"This added visibility of nearly real time data means that plant managers can more accurately forecast production and fulfillment needs for the next route day," said John Hardy, Chairman and CEO of Versatile. "This will reduce production overruns, while making sure the route drivers have enough product to service their customers."

Mobiquity Route™ 4.0 enables the driver to:

- Create quick, accurate orders-orders are created using the built-in barcode scanner, by utilizing pre-made order templates or by searching the product catalog. Approved product lists are supported.

- Execute sub-second scans-proprietary scan routines have been optimized to search thousands of items and return scan results in less than a second.

- Deliver pre-sold invoices-multiple invoices may be delivered to each customer. Invoices may be viewed and edited by the driver at the customer site.

- Sell off the truck-drivers may create new orders and deliver them in one visit. Truck inventory is automatically updated.

- Create allowances and charges-drivers may discount orders or add charges (applied to the line item, or invoice total) as allowed by company business rules.

- DEX invoices-multiple invoices may be delivered in one session. Invoice dueling is supported and is Sunrise 5010 compliant.

- Obtain proof of delivery (POD) via signature capture-signatures are transmitted back to the host with the order data. Managers may view signatures on-line.

- Receive payments-payments may be applied to specific invoices, or received on account.

- Track inventory in multiple locations-trucks may have multiple inventory zones and types. Inventory may be tracked at alternate storage locations, or at customer locations.

- Access detailed customer data-driver may search and view customer data, including custom pricing and order history.

- Search the product catalog-optimized for fast product lookups. View detailed product information, including standard pricing and mark-up calculator.

- Print wirelessly via Bluetooth-optimized for 3-inch and 4-inch belt-worn printers.

Mobiquity Route™ 4.0 is designed for Windows Mobile 5. Users may choose from a wide range of Windows Mobile 5 ruggedized handheld devices, including (but not limited to) the Intermec CN3, HHP 7900, Motorola MC70 and Motorola MC9000 series.

About Versatile

Versatile provides business solutions that enable companies to improve sales, marketing and distribution of their products. Versatile also provides information technology services for the implementation, maintenance and security of mission-critical computer environments. Versatile has the ability to architect solutions involving both proprietary and third party components. For more information: www.versatile.com.

Forward-Looking Statements

This document may contain forward-looking statements relating to Versatile's operations or to the environment in which it operates, which are based on Versatile's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond Versatile's control. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Versatile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

All amounts are expressed in U.S. dollars unless otherwise stated. (C) 2008 Versatile Systems Inc. All rights reserved.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Versatile Systems Inc.
    John Hardy
    Chairman and CEO
    1-800-262-1633 or International: 001-206-979-6760
    or
    Versatile Systems Inc.
    Fraser Atkinson
    CFO
    1-800-262-1633
    Website: www.versatile.com