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Texada Software, a wholly owned subsidiary of Noble Iron (TSXV:NIR), announced that following Toromont’s (TSX:TIH) recent acquisition of the assets of Hewitt Equipment, representing the largest Caterpillar dealer acquisition to date, Texada will implement its software products at Hewitt’s equipment rental and dealership operations acquired by Toromont. Toromont provides specialized equipment to diverse sectors, and Toromont’s Caterpillar dealership operates 120 branches across Canada.
“This project with Toromont builds on a strong relationship we have had together for a number of years,” said Alex Kress, Texada’s General Manager. “Our team is excited to exceed expectations through our leading edge technology and services that radically improve our customers’ lives.”
Texada also announced two new software products, Vision X and RentalLogic, which were both unveiled at the ARA (American Rental Association) Show on February 19.
Vision X is an augmented reality (AR) application that empowers mechanics, field service technicians and drivers to more effectively diagnose and repair equipment issues. Users of Vision X interact with photorealistic 3D models of construction and industrial equipment to conduct virtual disassembly or repair procedures. Sales representatives can use Vision X as a tool to virtually demonstrate equipment and parts. Vision X also integrates with a customer’s inventory and work order management software, so users can view 3D AR models of specific equipment in their fleet, including an asset’s complete service history, telematics sensor readings, and predictive analytics. Users can also see real-time parts inventory levels and order parts directly within Vision X.
“Vision X represents a digital evolution of equipment maintenance by giving service technicians superpowers: perfect memory, X-ray vision, and the ability to make accurate predictions – even remotely. It may sound crazy, but through Vision X these feats become possible,” commented Isaac Ristich, who leads the Vision X project.
Texada also unveiled RentalLogic, a cloud-based software application designed to maximize productivity for any business offering rental transactions. RentalLogic captures reservations; manages inventory availability; and streamlines the contract, invoice generation, rental return, and payment process. Additional modules such as work order management, e-commerce store, and integration with a company’s accounting software are also available to scale RentalLogic’s capabilities.
“Before building RentalLogic, we spoke with hundreds of prospective and current customers to understand how their businesses have evolved, and what solutions they need to maximize and increase their potential,” said Adam Kropf, Product Manager at Texada. “RentalLogic simplifies the rental management process so that getting your daily work done is faster and easier for everyone from the counter operator to the entire management team.”
RentalLogic’s public release is scheduled for Q2 of 2018, and Vision X is currently in beta.
Noble Iron is a technology company that offers software applications and services to construction, industrial and other equipment rental companies, owners, and users to manage their business and assets’ life cycle.
Texada Software, a wholly-owned subsidiary of Noble Iron, offers cloud or client-based software applications for equipment rental companies, equipment dealerships, construction companies, general contractors, and equipment operators, including mechanics, logistics managers and service technicians. Texada’s products manage the entire asset lifecycle, including equipment purchasing; rental and sales transactions; inventory location, utilization, maintenance and depreciation tracking; used equipment sales and disposals analysis; and inventory replenishment analysis. Texada is the provider of industry-leading technology FleetLogic, a mobile field service and logistics management platform; SRM (Systematic Rental Management), a complete management software for scaling rental businesses; Texada Pay, a payment processing platform; and GateWay, an online store and mobile e-commerce app for customers and sales teams. For more information, visit www.texadasoftware.com or call 1(800) 361-1233.
Noble Iron can be reached at www.nobleiron.com/contact-us.
Corporate communications contacts:
Mariam Chaudhry
Chief Financial Officer
t: (226) 962-2718
e: mariam.chaudhry@nobleiron.com
Nabil Kassam
Founder, Chairman & CEO
t: (650) 766-9177
e: nabil@nobleiron.com
This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified using words such as “seek”, “anticipate”, “plan”, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company’s ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events, or otherwise, other than as required by law.
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