March Networks, a provider of intelligent IP video solutions, has received orders totaling US$2.4 million from an existing retail customer for the company’s software and managed services. More than half of the value of these orders is expected to contribute to fourth quarter fiscal 2011 revenue, pushing the company’s fiscal 2011 revenue expectations beyond $100 million.
March Networks, a provider of intelligent IP video solutions, has received orders totaling US$2.4 million from an existing retail customer for the company's software and managed services. More than half of the value of these orders is expected to contribute to fourth quarter fiscal 2011 revenue, pushing the company's fiscal 2011 revenue expectations beyond $100 million.
The retailer will deploy the company's software in 2011 to better manage more than 30,000 March Networks hybrid recording systems currently installed in the retailer's US stores and membership warehouses. The software will provide the retailer with improved video compression, software investigation tools, retail video analytics and future network camera integration while equipping store managers and loss prevention investigators with high-quality video that can be accessed quickly from any networked location. The software is a key component of the organization's March Networks retail solution, which enables retailers to enhance customer and employee safety and reduce losses from retail shrink. In the U.S. alone, losses from theft and fraud cost the industry more than $30 billion annually.
The retailer is also expanding its managed video network services contract through which experienced March Networks monitor the health of the surveillance systems remotely and dispatch technicians on behalf of the retailer when required. In addition, the offering includes scheduled maintenance upgrades conducted over the network. The managed service provides retailers with a means to ensure optimum system performance and leaves internal staff free to focus on the company's core business operations.