Innovolt enhances next-gen vending

Date
04/25/2013

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IVM, a leading vending management and automated supply distribution company, announced an agreement with Innovolt® Inc., where IVM will purchase Innovolt's products and license its technology to guard against power related disruptions experienced in vending equipment. These disruptions, including lockups in retrieval arms and dispensers, coin jams, transaction malfunctions, and compressor failure, are costly to IVM's customers. Innovolt is the industry leading provider of power protection through its Intelligent Asset Management technology, which directly addresses these disruptions. Through this partnership Innovolt's technology will be implemented into vending platforms distributed by IVM to clients such as Facebook, Logitech and General Electric. Innovolt's power management and protection technology will be deployed alongside IVM's currently installed field assets, as well as outfitted as part of new projects shipping from IVM production facilities. "Power fluctuations cause a host of disruptions for vending equipment so Innovolt's technology platform is a perfect fit for an industry like vending where machine reliability is so crucial for revenue generation. We are very excited to be working with IVM," states Jeff Spence, COO and president of Innovolt. "With this partnership Innovolt makes a significant move into the vending market where our patented technology will provide optimal protection for this type of equipment, which needs to run regardless of the consistency or quality of the available power." Evolution of Vending Vending machines are most commonly known as machines that provide quick access to snacks and drinks for hungry students or employees, until recently. Now they are popping up in places like taxi cabs, hotels and department stores offering customers far more than chips and soda, like electronic devices and games. As a $28 billion industry[1], the vending market is continuing to grow due to broadening of its product offering and the use of innovative new technology. President of IVM Mike Pitts says, "We have been offering vending and distribution programs to the marketplace since 1991 and we have been at the forefront of the development of vending technology to help develop a more efficient workplace. Proof of this evolution can be seen through our recent project working with Facebook to create and deploy vending machines that distribute computer supplies. The distribution of IT supplies via vending is becoming much more common and I predict we will see an increase in innovative uses of vending going forward." With the demand of immediate access and convenience rising, vending and self-service offerings are becoming a vital part of the future. Given the wide range in use cases for this equipment, demand from end-users continues to increase, meaning when equipment experiences downtime it can be damaging to productivity, revenue and the customer experience. This growing need demands enhanced protection from power related problems, which when implemented can decrease service calls and increase the machines' reliability. The Need for Intelligent Asset Management Ever since Innovolt entered the marketplace in 2009, the company has provided patented and proven intelligent electronics protection and asset management technology for hundreds of millions of dollars of installed systems in the commercial and industrial markets. Often deployed in environments with unstable power, vending machine downtime can result in unnecessary service calls and negative customer experiences. Deploying vending machines with Innovolt's technology protects equipment from power related disturbances and prevents costly service issues before they negatively impact business. Innovolt and IVM are unveiling this news during the NAMA OneShow taking place April 24-26 in Las Vegas. Visit Innovolt's booth, #1641, to learn more. Innovolt

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