Iteris Unveils Powerful New Asset Management SaaS Solution

Rhea-AI Summary

Iteris has launched ClearAsset, a smart mobility infrastructure asset management solution designed for transportation agencies. This SaaS solution enhances the management of intelligent transportation systems (ITS) by allowing agencies to track inventory, conduct lifecycle analysis, and monitor performance. ClearAsset aims to improve device uptime and overall operations for traffic signals and highway ITS. The service can be utilized directly by agencies or through Iteris’ managed service, offering 24/7 support and integration with other smart mobility solutions.

Positive

• Launch of the ClearAsset solution enhances asset management for transportation agencies.
• ClearAsset improves device uptime and overall operations for traffic signals and highways.
• SaaS model allows for flexible implementation and management of ITS assets.

Negative

• None.

ClearAsset Enables Remote Lifecycle Management of Intelligent Transportation System Assets for State, Regional and Local Transportation Agencies

• ClearAsset helps transportation agencies track and maintain inventory and operational status of equipment deployed in the field or warehoused, conduct lifecycle analysis, and monitor performance over time.
• Asset management SaaS solution increases device uptime for better overall operations, and management of traffic signals and highway intelligent transportation systems (ITS).
• Agencies can use ClearAsset on a SaaS basis to manage ITS assets or as part of Iteris’ cloud-enabled asset management service, where this process is virtualized and performed by Iteris experts.

SANTA ANA, Calif.--(BUSINESS WIRE)-- Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has launched a new smart mobility infrastructure asset management solution, ClearAsset™.

Iteris Unveils Powerful New Asset Management SaaS Solution (Photo: Business Wire)

The state-of-the-art asset management solution, which can be delivered on a software-as-a-service (SaaS) or managed service basis, enables state, regional and local transportation agencies to track and maintain the inventory and operational status of technology equipment deployed in the field or warehoused, conduct lifecycle analysis, and monitor asset performance over time. With ClearAsset, agencies can maximize equipment uptime for improved overall operations, and management of traffic signals and highway ITS.

The ClearAsset SaaS solution provides transportation agencies with 24/7 networking monitoring of IP-based assets to automate down-device detection and work order creation. Using automated alerts and configurable workflows, ClearAsset can seamlessly create work orders and service requests to be evaluated by maintenance staff. When delivered as a managed service, agencies receive 24/7 support from Iteris’ network operations center team.

In addition, ClearAsset leverages Iteris’ ClearMobility™ Cloud and interoperates with the company’s family of smart mobility infrastructure management SaaS solutions, offering a unique, proactive ability to monitor, manage and optimize the health of mobility infrastructure to transportation agencies, which are critically challenged in this supply-constrained environment to maintain their ITS assets.

ClearAsset forms a core part of Iteris’ asset management service, which has already been selected by early adopters including the Georgia Department of Transportation (GDOT) and Virginia Department of Transportation (VDOT). GDOT selected Iteris’ asset management service to improve statewide ITS maintenance following the successful deployment of a similar ITS Asset Management System for VDOT. This new service will expand Iteris’ asset management for VDOT from tens of thousands of highway ITS assets to include 4,500 traffic signals statewide.

“We are thrilled to announce Iteris’ launch of the most powerful asset management SaaS solution available for the smart mobility infrastructure management market,” said Todd Kell, vice president, Mobility Operations Services at Iteris. “With the addition of ClearAsset, our state, regional and local transportation agency customers can now manage the lifecycle and performance of their ITS assets more effectively, and ultimately increase the value, effectiveness and resilience of their existing transportation infrastructure.”

ClearAsset is a key component of Iteris’ ClearMobility Platform – the world’s most complete solution to continuously monitor, visualize and optimize mobility infrastructure. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.

About Iteris, Inc.

Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.

Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the capabilities and benefits of our ClearAsset infrastructure asset management solution and asset management services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to provide our services and products in a cost-efficient manner; our ability to introduce, market and gain broad acceptance of our new and existing product and service offerings in the transportation industry; the potential impact of product and service offerings from competitors and other competitive pressures; challenges in the development of software-based solutions generally; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005112/en/

Media Contact

David Sadeghi

Tel: (949) 270-9523

Email: dsadeghi@iteris.com

Investor Relations

MKR Investor Relations, Inc.

Todd Kehrli

Tel: (213) 277-5550

Email: iti@mkr-group.com

Source: Iteris, Inc.

FAQ

What is the ClearAsset solution launched by Iteris?

ClearAsset is a new smart mobility infrastructure asset management solution that helps transportation agencies track and maintain their intelligent transportation systems (ITS) assets.

How does ClearAsset benefit transportation agencies?

ClearAsset enhances asset management by improving device uptime and facilitating lifecycle analysis and performance monitoring of ITS equipment.

Can transportation agencies use ClearAsset on a SaaS basis?

Yes, ClearAsset can be utilized as a software-as-a-service (SaaS) solution or as part of Iteris' managed service.

What type of support does ClearAsset offer to agencies?

ClearAsset provides 24/7 network monitoring and support when delivered as a managed service.

What are the early adopters of Iteris' ClearAsset service?

Early adopters include the Georgia Department of Transportation and the Virginia Department of Transportation.