(MENAFN- ProactiveInvestors)
() has won an initial purchase order from the University of Technology Sydney Housing Service for the deployment of a Parcel Locker System at their Broadway campus.
This will enable the management and delivery of parcels for on campus UTS student residents.
The integrated solution will offer students the ability to pick-up parcels from an on campus location at any time of the day.
It involves the coordination of a number of key service providers including Fastway Couriers who will receive sort and manage last mile delivery of parcels to the campus Monitor Business Machines who will provide a payment management system for parcel transactions and the UTS Housing team who are spearheading this innovative initiative to provide a higher level of student services.
TZ’s back-end software will underpin the total solution and integrate with the various third party systems to ensure a seamless service offering.
Last week the company noted it has a backlog of approximately $4 million and a solid pipeline of secured business. This leaves it on track to achieving its stated guidance of A$18M for FY2015.
“This is the first engagement with an Australian University and represents an exciting new application for TZ and what we believe should be a strong and relevant value proposition to other Universities and their residential housing programs” executive director Kenneth Ting said.
“This is a great example of a fully integrated offer whereby TZ has partnered with a number of strategic partners to deliver a new and innovative end-to-end solution to meet our client’s needs.”
Packaged Asset Delivery
TZ’s Packaged Asset Delivery (PAD) business which provides smart lockers almost tripled revenues in the December quarter 2014 from the previous corresponding quarter.
Growth is being fuelled by strong traction in all geographies with penetration of the U.S. Corporate and Residential sectors the rapidly emerging and substantial Australian Day Locker business and the on-going Postal Locker roll-outs underway in Asia.
These include a pilot Parcel Locker program deployed in Chicago by a U.S. Logistics and Transportation Corporation as well as the delivery of the 100th POPStation Locker Bank to Singapore Post.
In Australia Day Locker sales continue to expand exponentially on the back of large supply contracts with and another large financial institution.
Analysis
The initial purchase order from University of Technology Sydney Housing Service is the first such order from an Australian University and provides a new market and another scalable business model for for the university and residential college market locally and overseas.
This initial contract provides high market visibility for TZ's parcel locker system and adds yet another market application from TZ's core technology that is likely to be a forerunner of further university college contract wins and additional revenues.
This adds to the orders the company’s PAD business has received to date this year and increases the likelihood of meeting its revenue forecast of A$18M for FY2015.
Proactive Investors has calculated a price target of $0.19 - $0.22 in 12 months’ time.
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