Survey Reveals Rapid ROI With RFID
MORE THAN HALF OF COMPANIES SURVEYED ARE IMPLEMENTING OR PILOTING RFID TECHNOLOGY
Yonkers, NY - CYBRA Corporation (OTCBB: CYRP) the developer of EdgeMagic® Integrated RFID Control Software and award-winning MarkMagic Bar Code Labels, RFID Tags, and Electronic Forms Software has released the findings of their latest customer survey on RFID trends.
The survey results show an upward trend in the adoption of RFID technology. CYBRA’s first RFID Survey was conducted in 2008, in which only 21% of companies stated that they use RFID technology. According to the new survey, an amazing 54% of organizations are using, piloting, or already in the process of implementing RFID technology. This is a stunning 157% increase in just four years. According to the recent survey, 81% of respondents expect to achieve their Return on Investment (ROI) in three years or less, up from 72% in the previous survey. These statistics reveal that a growing number of companies are increasingly investing in RFID technology and shortening their payback period.
Furthermore, of the respondents who claim they are already using RFID technology, 70 percent are regular users or are in the implementation phase. This year’s study also shows that only 19% of respondents have no interest in RFID. These respondents are typically worried about high costs and don’t see evidence of ROI.
Other highlights from the new survey include:
- Of organizations that are not yet using RFID technology, 70% of respondents state that they have plans to implement RFID in the future.
- Of organizations that were either implementing RFID or evaluating the use of RFID, 74% of respondents indicate that they will do it not only for EPC (Electronic Product Code) compliance, but also to improve product track and trace capabilities.
- Tracking Products (67%) and Improved Inventory Management (62%) remain the top two business drivers that determine RFID adoption.
- The key anticipated benefits of RFID adoption are improved inventory accuracy (42%), increased distribution center efficiency (30%), and improved customer service (28%).
"This year's RFID survey results are a clear indication that businesses are beginning to understand the benefits that RFID technology can bring to their organizations," commented Harold Brand, President and CEO of CYBRA Corporation. "They also reflect a growing realization that RFID investments result in a shortened return cycle than was previously believed."
As an incentive for clients and prospective customers to participate in the survey, CYBRA offered a chance to win the third generation Apple iPad. Bob McVay of Hamilton Beach Brands was the prize winner.
About CYBRA Corporation
CYBRA Corporation is a leader in bar code and RFID technology for IBM Power Systems and other major computing platforms. An IBM Business Partner and Motorola/Symbol Partner, CYBRA is represented by a network of value added resellers throughout the United States and is represented internationally by sales and support offices.
MarkMagic Bar Code Labels, RFID Tags and Forms Software is used by thousands of customers worldwide, and has been selected as the bar code print engine of such leading software developers as Manhattan Associates, Infor and VAI. MarkMagic helps customers easily integrate barcode, RFID technology and electronic forms into their business systems.
CYBRA's latest product, EdgeMagic®, is an integrated RFID control solution. EdgeMagic helps customers build any type of RFID system, from complying with the full range of RFID mandates to closed loop asset management RFID applications.
CYBRA software solutions run on all major computing platforms including IBM Power Systems (System i, iSeries, AS/400, AIX) as well as Linux, Unix, and Microsoft Windows.
CYBRA Corporation is located at One Executive Boulevard, Yonkers, NY 10701. Product information is available toll free at 1-800-CYBRA-88. CYBRA's web site is located at www.cybra.com. To request information via e-mail, write to info@cybra.com.
SOURCE: CYBRA Corporation