VIRYANET ANNOUNCES STRATEGIC BUSINESS PARTNERSHIP WITH HITACHI SYSTEMS & SERVICES IN JAPAN
Companies to Provide Field Service Management Applications, Systems Integration, and Consulting to Service Maintenance Companies in the Japanese Market
Southborough, Mass. — August 28, 2002 — ViryaNet (NASDAQ: VRYA), a leading provider of integrated mobile and Web-based software applications for workforce management and the automation of field service delivery, today announced a strategic partnership with Hitachi Systems & Services Ltd. Under the terms of the relationship, Hitachi Systems & Services, which has a very strong business within the manufacturing, trading, public, and financing segments, will offer systems integration and consulting related to field service management, and sell ViryaNet’s Service Hub and suite of applications within its core markets.
ViryaNet Service Hub is a complete and proven Internet platform for service communities, which dramatically improves previous ways of delivering field service. ViryaNet Service Hub is being used by thousands of users across dozens of customer locations in numerous industries. ViryaNet Service Hub is built using open Internet and wireless technologies, allowing customers to adapt ViryaNet Service Hub to their continuously changing conditions.
ViryaNet Service Hub includes an information portal that provides community access and collaboration; business intelligence for proactive reporting, analysis, and action; workflow-driven business processes; a powerful integration server that interfaces to other systems; and a mobile gateway that allows mobile field technicians to access and communicate service information.
Using ViryaNet Service Hub, a service organization can quickly transition its complex business processes into a manageable, scalable Internet operation, with goals of increasing efficiency, quality of service, customer satisfaction, customer retention, and profitability.
In addition, ViryaNet offers a suite of field service applications, including Mobile Workforce Management that ensures the right person arrives at the right location with the right parts and customer information, Service Scheduler that optimizes and dramatically improves scheduling efficiency, e-Supply Chain that automates spare-parts inventory management, e-Contract that manages the complete contract lifecycle, and e-Repair to manage high-volume depot repair operations.
“Hitachi Systems & Services possesses a rich history of technological and service excellence,” stated Win Burke, president and CEO, ViryaNet. “We are most pleased to be entering into this formal relationship with a company so committed to the field service segment.”
About Hitachi Systems and Services
Hitachi Systems & Services, a leading systems integrator to financial services, public sectors, manufactures and distribution industries in Japan, provides a nationwide system of integration services that leverage internet technologies, including database, groupware, ERP, and advanced XML. Their large team of qualified engineers is trained in technologies from leading vendors, including Oracle, Microsoft, and Lotus, and has a strong track record of success. Hitachi Systems & Services is headquartered in Ota-ku, Tokyo, Japan. More information on Hitachi Systems’ products and services can be found at www.hitachi-system.co.jp.
About ViryaNet
ViryaNet is a provider of software applications that improve the quality and efficiency of an organization’s service operations. ViryaNet’s flagship product — the award-winning ViryaNet Service Hub — combines the power of the Internet, the freedom of wireless technologies, and the resources of ViryaNet’s deep service expertise to help companies improve workforce scheduling, dispatching, and activity reporting; customer contract and entitlement automation; and asset, logistics and repairs management.
Customers in the telecommunications, utility, high-technology manufacturing, grocery and retail, insurance, HVAC, and other industries use ViryaNet Service Hub to transition complex service business processes into a manageable, scalable Internet operation, with the goal of increasing service revenues, decreasing service costs, and maximizing customer satisfaction.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding ViryaNet’s expectations, beliefs, intentions, or strategies regarding the capabilities of its products, its relationships with its customers, and its customer purchases. All forward-looking statements included in this document are based upon information available to ViryaNet Ltd. as of the date hereof, and ViryaNet Ltd. assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet’s business include market acceptance of and demand for the Company’s products, risks associated with a slow-down in the economy, risks associated with the financial condition of the company’s customers, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet’s Form F-1, as amended, declared effective by the SEC on September 19, 2000, and the other reports filed from time to time with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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