LG Electronics and Time America Conclude Value Added Reseller Agreement.TEMPE, Ariz. & JAMESBURG, N.J. -- Time America to Incorporate LG IrisAccess(R) 3000 Iris Recognition Iris recognition is a method of biometric authentication that uses pattern recognition techniques based on high-resolution images of the irides of an individual's eyes. Not to be confused with another less prevalent ocular-based technology, retina scanning, iris recognition uses System into Its Labor Management Solutions LG Electronics U.S.A. Inc. has selected Time America Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TMAM) to become a Value Added Reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). partner of its Iris Technology Division. Under the terms of the agreement, Time America will remarket and resell the LG IrisAccess(R) 3000 system as an integral part of its suite of automated labor management solutions. The LG IrisAccess 3000 system, delivers unsurpassed accuracy in authenticating humans. Digital video imaging -- essentially pictures -- of the unique patterns found in the iris of the eye can provide high integrity biometric authentication See biometrics. of an employee without PIN numbers, passwords or ID cards. The LG IrisAccess 3000 interfaces directly to Time America's NETtime(TM) and GENESIS(TM) labor management applications, providing automated collection and transfer of this employee data. This integration will allow Time America customers to combine highly versatile time and workforce automation capabilities with the world's best authentication technology. "LG's IrisAccess 3000 system provides an advanced level of biometric-based security to customer environments that require a higher level of safety and security of people and physical assets," said Thomas Bednarik, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Time America. "The interface from LG's iris recognition system to our labor management products enables us to provide a turnkey solution to our customers." LG's iris recognition technology coupled with Time America's labor management applications helps organizations to drastically reduce labor costs by eliminating manual time tracking processes and better control schedule enforcement, buddy punching and access control. The resulting offering will expand Time America's solution functionality to include access control to restricted areas and will restrict late arrivals/early departures. David B. Johnston, vice president of marketing at LG's Iris Technology Division, commented, "Today's challenge is about aligning technology spending to areas where definitive ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). can be achieved, and a key focus is on how to truly maximize performance of the human assets every company has. This partnership combining state-of-the-art labor management automation solutions and the best biometric identity will yield powerful tools where ROI can be calculated across an organization, within a work unit, or even highlighted at the individual level." Targeted at small, mid-sized and enterprise level companies, Time America provides Web-based, client-server and desktop time and attendance solutions that enable companies to better manage their payroll, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. . These time and attendance solutions are currently used by over 16,000 companies, academic and legislative institutions worldwide including ARAMARK Corp., John Deere, Mesa Air Group Mesa Air Group (NASDAQ: MESA) is a Nevada Corporation[1] commercial aviation holding company with headquarters in Phoenix, Arizona. The company operates three regional airline subsidiaries: Mesa Airlines, Freedom Airlines, and Air Midwest, and five supporting , Cornell University Cornell University, mainly at Ithaca, N.Y.; with land-grant, state, and private support; coeducational; chartered 1865, opened 1868. It was named for Ezra Cornell, who donated $500,000 and a tract of land. With the help of state senator Andrew D. , Texas Legislative Council and the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission . About Time America Inc. Time America Inc. is a leading provider of Web-based, client-server and PC-based workforce management Workforce Management (WFM) encompasses all the responsibilities for maintaining a productive and happy workforce. Sometimes referred to as HRMS systems, or even the larger ERP systems (Oracle, PeopleSoft, SAP). There are many software vendors within this space. solutions. With more than 16 years of experience, Time America's family of NETtime(TM), HourTrack(TM) and GENESIS(TM) solutions deliver cost-effective management of labor resources, automation of time and attendance, data collection, workforce scheduling and payroll processing. The Deloitte Technology Fast 500 recently honored Time America as one of the 500 fastest-growing technology companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information, please visit the Time America Web site at www.timeamerica.com. About LG Electronics LG Electronics, a principal component of South Korea's $60 billion LG Corp. has been active in iris recognition research development and production since 1997. In 2002, LG Electronics' U.S.-based Iris Technology Division assumed global responsibility for all operations, marketing and distribution for the LG's iris recognition business. LG IrisAccess platform is the leading iris recognition system in the world and is deployed in public and private sector applications on six continents. LG IrisAccess is developed under a technology license from the Iridian Technologies of Moorestown, N.J., United States. NETtime and GENESIS are registered trademarks of Time America Inc. IrisAccess is a registered trademark of LG Electronics. All other names are the property of their respective owners. Forward-Looking Statements Certain information and comments contained in this press release may be forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Factors set forth in the company's annual report on Form 10-KSB for the fiscal year ended June 30, 2003 and subsequently filed Form 10-QSBs, together with other factors that appear in this press release or in the company's other Securities and Exchange Commission filings could affect the company's actual results and could cause the company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of the company, in this press release. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion