First complete beverage management solution recognized at global forum for mobile industry
Beverage Metrics, the first end-to-end wireless bar management system to meet the industry’s biggest challenge of perpetual inventory tracking and inventory shrinkage, was named the first place winner in the global M2M Challenge Innovation competition at an awards ceremony last night at the GSM Mobile World Congress 2013 in Barcelona.
Beverage Metrics, Inc., a subsidiary of the IDENTEC GROUP AG, took top honors in the Security category, which recognized novel applications “demonstrating the huge innovation potential in the world of machine-to-machine (M2M) communication.” More than 200 submissions were received from contestants in 44 countries covering energy, healthcare, mobility, consumer electronics and security.
“We were very pleased to participate in the M2M challenge this year and are proud to have received this extraordinary recognition for our system,” said Dietmar Amann of Dallas-based Beverage Metrics, Inc., while accepting the award on behalf of the company. “We truly believe that the Beverage Metrics solution is a ‘must have’ for any business wanting to manage their beverage costs more effectively, and this honor reinforces that belief.”
Each year, the GSMA Mobile World Congress attracts the largest number and highest-quality attendees of any event in the mobile industry. Professionals from 205 countries are scheduled to attend the 2013 event in Barcelona.
A panel of experts headed by Robin Duke-Woolley, CEO of Beecham Research and renowned figure in the M2M industry, evaluated the 200 submissions and nominated two finalists for each category followed by an overall winner.
“Having solutions that leverage the power and versatility of M2M connectivity is vital to drive market adoption,” stated Gerhard Schedler, Head of M2M Center of Competence at Swisscom. “By simplifying processes, and reducing costs for their customers, Beverage Metrics is a clear illustration of the power of M2M.”
The revolutionary Beverage Metrics system is a fully wireless enterprise level hardware, software and cloud solution that delivers accurate and reliable inventory data wirelessly for every bottle on-site. With its unique, cutting-edge technology, the Beverage Metrics system continuously monitors pours of open bottles as well as movement and activity of unopened inventory across all outlets by using wireless bottle-neck sensors to capture data which is then communicated back to a central database.
“Over $800,000 (US) is lost each hour due to liquor shrinkage. It was a staggering $7.2 billion in 2011,” explained Peter Linke, CEO of Beverage Metrics, during his presentation to an audience of international industry and media representatives assembled at the World Mobile Conference. “Most establishments lose in excess 25% of revenue each year due to an inability to monitor their inventory and processes. As Point-of-Sale systems are universal today, all restaurants and bars will adopt a liquor management system over time, and this award is further validation that our system is ideally suited for that purpose.”
To reduce shrinkage due to over-pours, Beverage Metrics uses intelligent wireless sensors that attach to the outside of the neck of each bottle. Using precision motion and tilt sensing, combined with sophisticated algorithms, the system accurately determines the pour amount used in each drink. This information is then compared to transactions rung through the Point-of-Sale system. All of this data is available in the cloud, so management can instantly see the performance of their bars from any Internet-enabled computer, tablet or smartphone.
Entering the market in early 2011, Beverage Metrics has made significant inroads in the large-scale corporate hotel, restaurant and casino markets and plans to capitalize on its success in 2013 by releasing its much-anticipated banquet system. “Our solution is one that was developed with significant involvement of our key customers and can be custom-tailored to fit the needs of any potential operator,” remarked Linke. “Small or large, one property or 100, our solution provides the owner or manager with the information they need to run their business effectively and efficiently.”
Based in Dallas, Texas, Beverage Metrics, Inc. (www.BeverageMetrics.com) is the first complete beverage management solution that meets the industry’s biggest challenges of tracking perpetual inventory and lowering shrinkage loss which costs owners in excess of 25% of their revenue each year, a staggering $7.2 billion in 2011. With its patented and proprietary system, Beverage Metrics employs wireless technology and state-of-the-art algorithms to deliver real-time, end-to-end beverage inventory data to the cloud which customers can then pull reports from using only their web browser.
IDENTEC GROUP is a leading, advanced RFID solutions provider that capitalizes and grows companies in global business-to-business and business-to-consumer RFID markets. Recognized worldwide for its patented, award-winning RFID solutions in a multitude of industries, IDENTEC GROUP member companies develop and market innovative RFID solutions that identify, measure, track and trace assets and people across the value chain, delivering actionable information through the cloud. IDENTEC GROUP works with its member companies on issues ranging from capitalization and development of business models and strategies to operations and shared technology, sourcing efficiencies and mutual customer relationships. For more information, visit http://www.identecgroup.com.