Nordic ID Recognised by Frost & Sullivan for Its Ground-breaking RFID Solutions That Enable Instant Checkout for Retail Customers

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May 06, 2019, 08:00 ET

Nordic ID's exceptional support complements its product benefits, giving it a significant competitive advantage in the global market

LONDON, May 6, 2019 /PRNewswire/ -- Based on its recent analysis of the European market for radio-frequency identification (RFID) for retail self checkouts, Frost & Sullivan recognises Nordic ID with the 2019 Europe New Product Innovation Award for facilitating a significantly faster checkout experience. Nordic ID signed a strategic partnership with IBM iX, the design and consulting division of IBM, to develop an RFID-based self -checkout solution. Inspired by the co-operation, the company developed a novel instant checkout solution—the Nordic ID Self-Checkout. Instead of having to scan items one by one, customers can scan them instantly, reducing checkout times to one-tenth of the time taken to scan 9 items by a cashier. This eliminates queueing and speeds up checkout transactions, resulting in an enhanced customer experience.

"With the Nordic ID Self-Checkout, the company has made the checkout experience quicker and more accurate for retail consumers," said Ram Ravi, Industry Analyst at Frost & Sullivan. "In January 2019, Nordic ID also launched an advanced information desk solution that presents an integrated reading area and touchscreen display for digital content, retrieving the necessary information on the chosen product instantly whenever needed. It delivers optimum support to customers by facilitating product selection for purchase."

At the heart of the company's success is an unwavering commitment to customers across diverse segments of the economy. Nordic ID offers informational materials as well as technical and other support services to meet customer needs in different industries. Furthermore, it provides a single application program interface (API) available for all of its hardware, which ensures a faster and less costly integration. To aid the optimal application of its products by customers, it also built a comprehensive support partner network consisting of its service facilities and authorized service partners worldwide. Additionally, it guarantees a 3-day and 10-day repair turnaround to fix and deliver repaired products to customers worldwide.

Several case studies in different industries have proven the quality and efficiency of Nordic ID's RFID solutions. For example, Nordic ID aided Austrian Airlines (Austria's largest carrier), in optimising aircraft maintenance processes crucial to flight safety. Its Nordic ID Merlin solution helps technicians save time by enabling them to read safety information on board aircraft using RFID-enabled measurements. This solution specifically reduced Austrian Airlines' mandatory in-cabin maintenance tasks, such as checking data on oxygen generators and life vests, by 90%. As a result, it reduced the need for labour by 66%, leading to higher efficiency and maintenance savings.

"In less than four decades, Nordic ID extended its commercial activity to over 10 locations worldwide across Europe, North America, and Southeast Asia," noted Ravi. "Its outstanding value proposition, backed by full-range customer support, is expected to increase the adoption of RFID based solutions across verticals, all over the world."

Each year, Frost & Sullivan presents this award to the company that develops an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which, in turn, raises customer acquisition and overall market penetration potential.

Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Nordic ID

Nordic ID is a full service PaaS (Platform as a Service) solutions company aimed at becoming the go-to partner for businesses that struggle with managing their flow of items. Our passion for enabling customers to manage their routine operations with ease, speed and efficiency, inspired us to develop all-in-one solutions that help companies to optimize the flow and count of goods. With our full line of RFID tracking devices and a customizable, adaptable cloud platform we simplify once tedious routine tasks and enable total process transparency. Nordic ID is listed on Nasdaq First North (NORDID). www.nordicid.com

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.

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SOURCE Frost & Sullivan