Boston -
CAMBRIDGE - IntelliVid Corporation today announced its Proof-of-Value Program, created to benchmark the effectiveness of video analytics systems in the retail industry.
As the leader in intelligent video analysis software for retail loss prevention and store intelligence, IntelliVid is committed to helping the retail community learn the impact that its video analytics-enabled workflow has on a retailer's bottom line.
Based on IntelliVid's experience with retailers, program participants will see a decrease in shrink on the average of 25 percent, resulting in an increase in operating income of approximately nine percent.
Shrink is estimated at 1.59 percent of retail sales, according to the University of Florida's 2005 National Retail Security Survey. This percentage translates to an astounding $37.4 billion in annual losses to retailers. For an average department store chain with $14 billion in annual sales, shrink erodes $222.6 million off of the bottom line.
Shrink is a significant drain on a retailers' performance, creating a "domino effect" of mitigation costs and multiple losses. For example, when merchandise is stolen, it is no longer available for customers to purchase. These so-called "silent out-of-stocks" mean ongoing lost sales opportunities. In addition, dishonest employees harm the store's image, environment, and perception of quality, and present a liability risk to the company. Finally, given the high cost of theft, retailers are forced to charge higher prices or accept lower margins, further impacting the bottom line. Thus, the real cost of total losses is actually significantly higher than $37.4 billion.
Proof-of-Value Program IntelliVid is offering retailers the opportunity to participate in a controlled test program which demonstrates the value of its shrink-reducing solution. This is a unique opportunity for a select group of retailers to work with a company that is focused on quantifying the return on a loss prevention investment.
"Research shows that 90% of retailers are planning to invest in video analytics over the next 12 months," said Alan Sherman, IntelliVid's director of marketing. "By participating in our Proof-of-Value Program and using our video-based analytics and workflow, retailers will be able to make their purchase decisions armed with proven results."
Fred Edling, IntelliVid's chief financial officer added, "This is a compelling opportunity for leading retailers to experience how significant an impact intelligent video analytics can have on their operating margins. As a CFO, I appreciate the financial pressures retailers face, and I'm pleased to offer them our Proof-of-Value Program, so they can see first-hand how strategic an imperative video analytics truly is."
Proof of Value Elements
For each Proof-of-Value program participant, IntelliVid will:
· Provide video analytic test systems for a defined time period (estimated at 3-6 months)
· Work with CFO to set business objectives, including ROI
· Train loss prevention personnel on best practices for video analytics
· Provide customer and technical support to ensure all aspects of the test are carried out successfully
· Work with retailer to optimize and monitor test environment and interpret results
· Provide a detailed report summarizing the results of the test including:
- pre-and post-test shrink measurements
- ROI calculations
- workflow analysis- best practices
For additional information regarding IntelliVid's Proof-of -Value Program, retailers are invited to contact Fred Edling at 617-497-8400.
About IntelliVid (www.intellivid.com)
IntelliVid provides intelligent video analysis solutions for the retail industry. Its open platform Video Investigator software unleashes the full potential of existing surveillance systems, transforming them from passive recording devices into proactive theft prevention and store intelligence solutions. Video Investigator delivers bottom-line benefits to forward-thinking retailers. It automatically monitors store activities, and reveals important events to personnel, eliminating the time-consuming tasks of manually monitoring and searching surveillance video. It will also serve as a platform providing unprecedented insights into customer traffic, stock-outs, merchandising effectiveness and more.
Headquartered in Cambridge, Massachusetts, IntelliVid is backed by Intel Capital, Flagship Ventures, Egan-Managed Capital, and DFJ New England. Its customers include leaders in the department store, mass merchandise, and chain drug store segments.
Tuesday, February 27, 2007
Wednesday, February 21, 2007
Cernium Launches First in New Series of Advanced Video Security Applications with S.R. Smith
Reston, VA – February 20, 2007 – Cernium Corporation, a pioneer and leading developer in the field of advanced video analytics, announced today the first in a series of vertical market applications to embed its P-Core™ analytics engine. Pool safety equipment market leader S.R. Smith has adopted P-Core as the foundation for PoolOptix™, a management tool that improves the capabilities of businesses and consumers to mitigate the risks associated with unattended swimming pools. PoolOptix utilizes advanced video detection technology and video analytics software to provide event of interest detection and early warning for commercial and residential swimming pool environments. P-Core makes the powerful video analysis and behavioural recognition technology of Cernium’s flagship Perceptrak® system accessible to a wide range of platforms and industry-specific solutions, and offers the same 8x-10x processing advantage that enables real-time analysis of up to 16 video inputs on a single general purpose processor.
S.R. Smith is the world leader in manufacturing innovative, safe and reliable pool deck equipment for both residential and commercial swimming pools. The PoolOptix system is comprised of layered detection zones that, when activated, trigger an audible and visual alarm. Cernium’s P-Core engine will give the PoolOptix system the power to immediately recognize and report problem scenarios as they arise at an affordable cost.
PoolOptix continues Cernium’s heritage of using video analytics to meet real-world challenges that began with the ExitSentry™ system for protecting airport security checkpoints. Today ExitSentry is installed in more than fifty airports across North America.
“Cernium is pleased to provide the behavioural recognition solution that S.R. Smith required,” said Craig Chambers, chief executive officer of Cernium. “The flexibility and 10X processing advantage of P-Core allows advanced analytics technology to be incorporated into complete, cost-effective solutions, such as PoolOptix. This is just one first-rate example of how analytics technology has moved beyond the laboratory to practical products that make video cameras into more effective tools for safety and security.”
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About Cernium CorporationCernium Corporation is the leading developer and provider of real-time video analytics and behavior recognition software for the security industry. Cernium’s unique software employs a patented technique that analyzes multiple, concurrent behavioral criteria in real-time with orderof- magnitude greater efficiency than previous approaches. The company’s advanced video security systems safeguard facilities in a range of industry sectors that include government, critical nfrastructure, healthcare, transportation, hospitality, education and cultural institutions. Cernium’s powerful, patented security products include Perceptrak® and ExitSentry®. Newly launched CheckVideo™ won the 2006 New Product Showcase for Peripherals at ISC West. For more information, call 877-968-8383 or visit www.cernium.com.
About S.R. Smith S.R. Smith is the world leader in swimming pool deck equipment; offering an array of focused solutions for the recreation, leisure, safety and ompetition needs of swimming pools and aquatic facilities worldwide. Headquartered in Canby, Ore., with additional manufacturing in Portland, Tenn., and founded in 1932; today S.R. Smith employees over 125 workers and utilizes a dynamic network of channel partners worldwide to meet the diverse needs of the swimming pool construction, service and remodel industry. For more information, visit www.srsmith.com or call (800) 824-4387.
S.R. Smith is the world leader in manufacturing innovative, safe and reliable pool deck equipment for both residential and commercial swimming pools. The PoolOptix system is comprised of layered detection zones that, when activated, trigger an audible and visual alarm. Cernium’s P-Core engine will give the PoolOptix system the power to immediately recognize and report problem scenarios as they arise at an affordable cost.
PoolOptix continues Cernium’s heritage of using video analytics to meet real-world challenges that began with the ExitSentry™ system for protecting airport security checkpoints. Today ExitSentry is installed in more than fifty airports across North America.
“Cernium is pleased to provide the behavioural recognition solution that S.R. Smith required,” said Craig Chambers, chief executive officer of Cernium. “The flexibility and 10X processing advantage of P-Core allows advanced analytics technology to be incorporated into complete, cost-effective solutions, such as PoolOptix. This is just one first-rate example of how analytics technology has moved beyond the laboratory to practical products that make video cameras into more effective tools for safety and security.”
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About Cernium CorporationCernium Corporation is the leading developer and provider of real-time video analytics and behavior recognition software for the security industry. Cernium’s unique software employs a patented technique that analyzes multiple, concurrent behavioral criteria in real-time with orderof- magnitude greater efficiency than previous approaches. The company’s advanced video security systems safeguard facilities in a range of industry sectors that include government, critical nfrastructure, healthcare, transportation, hospitality, education and cultural institutions. Cernium’s powerful, patented security products include Perceptrak® and ExitSentry®. Newly launched CheckVideo™ won the 2006 New Product Showcase for Peripherals at ISC West. For more information, call 877-968-8383 or visit www.cernium.com.
About S.R. Smith S.R. Smith is the world leader in swimming pool deck equipment; offering an array of focused solutions for the recreation, leisure, safety and ompetition needs of swimming pools and aquatic facilities worldwide. Headquartered in Canby, Ore., with additional manufacturing in Portland, Tenn., and founded in 1932; today S.R. Smith employees over 125 workers and utilizes a dynamic network of channel partners worldwide to meet the diverse needs of the swimming pool construction, service and remodel industry. For more information, visit www.srsmith.com or call (800) 824-4387.
Friday, February 02, 2007
City of Seattle Selects Cernium Corporation’s Security Video Analysis Solution to Protect Downtown Locations
Reston, VA – January 30, 2007 – Downtown Seattle’s Civic campus will now be safer, thanks to a video surveillance implementation by Cernium Corporation, a leading pioneer of video analytics solutions. Perceptrak, Cernium’s video analysis and behavioral recognition software, will analyze video from security cameras in Seattle’s downtown civic campus and enable continuous assessments of the urban landscape.
Cernium’s advanced technology will analyze video from security cameras to identify potential security threats and alert the security department when they occur. For example, when a person loiters in an area during odd hours or a vehicle stops suddenly in front of a building, Perceptrak will issue alerts via onscreen audio/visual notifications and text/email messages, enhancing response time, as well as log a video of the incident for future review.
“Cernium’s video analytics solution is the perfect fit for the needs of Seattle’s downtown civic campus,” said Mark Premo, Northwest regional account manager for Cernium Corporation. “A flexible, scalable and cost-effective solution was needed that could provide not only added security to the downtown civic campus, but also a forensic capability. Perceptrak served all those needs and was easily installed with no disruption to security operations.”
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ABOUT CERNIUMCernium Corporation is the leading developer and provider of real-time video analytics and behavior recognition solutions for the security industry. Cernium’s unique software employs a patented technique that analyzes multiple, concurrent behavioral criteria in real-time with order-of-magnitude greater efficiency than previous approaches. The company’s advanced video security systems safeguard facilities in a range of industry sectors that include government, critical infrastructure, healthcare, transportation, hospitality, education and cultural institutions. Cernium’s powerful, patented security products include Perceptrak® and ExitSentry®. Newly launched CheckVideo™ won the 2006 New Product Showcase for Peripherals at ISC West. For more information, call 877-968-8383 or visit www.cernium.com.
Cernium’s advanced technology will analyze video from security cameras to identify potential security threats and alert the security department when they occur. For example, when a person loiters in an area during odd hours or a vehicle stops suddenly in front of a building, Perceptrak will issue alerts via onscreen audio/visual notifications and text/email messages, enhancing response time, as well as log a video of the incident for future review.
“Cernium’s video analytics solution is the perfect fit for the needs of Seattle’s downtown civic campus,” said Mark Premo, Northwest regional account manager for Cernium Corporation. “A flexible, scalable and cost-effective solution was needed that could provide not only added security to the downtown civic campus, but also a forensic capability. Perceptrak served all those needs and was easily installed with no disruption to security operations.”
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ABOUT CERNIUMCernium Corporation is the leading developer and provider of real-time video analytics and behavior recognition solutions for the security industry. Cernium’s unique software employs a patented technique that analyzes multiple, concurrent behavioral criteria in real-time with order-of-magnitude greater efficiency than previous approaches. The company’s advanced video security systems safeguard facilities in a range of industry sectors that include government, critical infrastructure, healthcare, transportation, hospitality, education and cultural institutions. Cernium’s powerful, patented security products include Perceptrak® and ExitSentry®. Newly launched CheckVideo™ won the 2006 New Product Showcase for Peripherals at ISC West. For more information, call 877-968-8383 or visit www.cernium.com.
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