While establishing traceability strategies has become a priority for food service executives, cost cutting initiatives remain at the top of the priority list for 2011, according to a survey released today by Voxware, a leading supplier of software for voice-driven warehousing operations. More than three quarters of those polled (76%) said that traceability is a priority for their companies, yet only ten percent said it was their top priority, according to the survey conducted at the International Food Distributors Association’s annual conference. More than half (57%) of the respondents said that cutting costs is their top priority over the next 12 months. The survey points to the growing emphasis on adopting traceability standards across the food service industry. It also indicates a potential conflict in priorities as organizations grapple with the expense of implementing traceability while simultaneously focusing on cost cutting in the broader operation. Traceability has become more important to food service companies’ customers, as nearly a third (31%) of those polled said their customers ask either frequently or urgently about plans on compliance. An additional 52 percent of respondents said their customers are asking about traceability occasionally. Another indication of the growing support for traceability is that, despite the clear focus on cost cutting, the overwhelming majority of respondents (72%) said they are either somewhat likely or very likely to adopt some traceability standards in the near future. “Traceability is becoming an increasingly important issue for food service companies and their customers and this survey confirms decisions we made in regard to traceability support in our software,” said Scott Yetter, Voxware CEO. “We see a real opportunity for organizations to proactively implement standards, gain good will from their customers and in some cases gain competitive advantage. Our goal is to provide them with the technology and the expertise to implement solutions as seamlessly and cost-effectively as possible.”
Most respondents (93%) agree that outbound traceability data should be captured at the point of the pick, although there is no consensus on the best technique for capturing the data. Over half (55%) said that utilizing voice, in some cases combined with scanning, is the best technique for outbound data capture. The survey polled food service managers and executives. Voxware designed the survey to provide its food service customers and prospects with insights around the highly discussed traceability issue.About Voxware Voxware, Inc. Voxware (OTC: VOXW.PK) provides voice picking software products that optimize the full spectrum of warehouse operations for greater accuracy, productivity and flexibility in supply chain execution. Voxware’s corporate headquarters are in Hamilton, New Jersey, with operating offices in Cambridge, Massachusetts, and the United Kingdom. Additional information can be obtained at www.voxware.com . This news release contains forward-looking statements. Such statements are subject to certain factors that may cause Voxware’s plans to differ or results to vary from those expected including the risks associated with Voxware’s need to introduce new and enhanced products and services in order to increase market penetration and the risk of obsolescence of its products and services due to technological change; Voxware’s need to attract and retain key management and other personnel with experience in providing integrated voice-based solutions for e-logistics, specializing in the supply chain sector; the potential for substantial fluctuations in Voxware’s results of operations; competition from others; Voxware’s evolving distribution strategy and dependence on its distribution channels; the potential that speech products will not be widely accepted; Voxware’s need for additional capital; and a variety of risks set forth from time to time in Voxware’s filings with the Securities and Exchange Commission. Voxware undertakes no obligation to publicly release results of any of these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected results.