J.Saf and Badger,
Fingerscan pty. ltd. (before IDX bought them) installed Fingerscan
units in all Woolworth stores down under. Although the retail price
of the system is about 3,000 dollars, I would have to believe that
on an order of several hundreds of systems, the price was about
half of that. These are very high margin products.
After a year of service, Woolworths found that payroll expenses
decreased on average 13,000 or 14,000 dolllars per store!
Sooo.... If you buy a product for $1,500 and it saves you $14,000,
the first year..... That would be close to a 1000% payback. Or you
can say that the system pays for it's self in about two months.
Woolworths was very pleased. They also found that thier workers
really didn't have a big problem with it.
You can read all about this application if you search to Fingerscan
and Fujitsu and Woolworths. Also, if you follow Fingerscan through
you will find that very major retail Information System companies
WORLDWIDE are offering these systems. Right now.
When you go to the Home pages of these companies, look at thier
"exciting new products" In fact, Try ICL Retail Systems and
Fujitsu Asia and ICL Europe. Then Try Skyblue.
And don't forget Accu-Time...
In last Quarter's conference call, Randy Fowler mentioned that
he felt that the most likely area to deliver explosive growth going
forward was Time and Attendence, Banking and I believe contract
fingerprinting.
I guess what is important here to me is that IDX has built relationships
with some very big players in the markets that IDX has decided to
enter. You can build the best product in the world....but if you have
no one to sell it...you are SOL. For example......DBII is SOL......
And you know, Badger and J.Saf.... This is just one of the areas
that IDX is clearly the market leader. I say bring on the competition!
There will be plenty to go around. Half of this market would be
wonderful! Why Wall Street is not all over this one....I don't know.
Serious.... How many stores does Sears have..Wal-mart, Albertsons
Pennys, Burger King, Target ? Anyone Know?
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