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Survey From Innovolt Reveals The High Cost Of Equipment Failure

Findings illustrate need for electronics management technology with more than 75 percent of respondents taking longer than an hour to get downed equipment back online

ATLANTA, Jan. 16, 2014 /PRNewswire/ -- The costs and challenges associated with electronic asset failures are significant. To better understand these issues, Innovolt® Inc. sponsored a survey of executives from several industries that are particularly dependent upon the reliability, performance, and lifespan of sensitive electronic equipment.  The study, conducted by Gatepoint Research, sheds new light on the challenges that businesses face with an emphasis on the problems caused by power quality fluctuations and the true costs related to equipment issues requiring service calls.

Innovolt, the leading provider of intelligent electronics protection and asset management technology, has chronicled the survey's findings in a new e-book entitled Unreliable Energy, Sensitive Electronics and the Rising Costs of Field Service which is available on the company's website.

A sample of the key findings includes:

  • Almost a fifth of respondents report that 25 percent of their assets require service each month while 4 out of 10 must service 16 percent or more of their assets each month.
  • That adds up. 73 percent of companies with more than 1,000 electronic assets deployed report that each service call costs at least $150.
  • 75 percent of companies report that it takes more than an hour to bring downed equipment back online with an alarming 20 percent of companies reporting it takes more than 24 hours.  
  • Nine out of 10 respondents identify decreased customer satisfaction as the most critical ramification of electronic asset downtime.
  • 93 percent cite the rising costs of servicing electronic equipment as a challenge.
  • 77 percent of executives say that predictive maintenance is a trend that will impact their ability to grow. 73 percent cite the importance of remote diagnostics as well.

The survey, which was conducted during the fall of 2013, included nearly 100 executives from several industries—gaming, office equipment, self-service kiosks, retail and others—all of which rely on the uptime of electronic assets.

"This survey data clearly articulates the need that C-level executives and information technology managers have for quality electronics management solutions," says Jeff Spence, president of Innovolt. "This e-book is indicative of the intelligence and resources Innovolt provides for the marketplace as well as its partners and customers, to educate on the lesser known issues surrounding equipment performance and antiquated power systems."

To view a copy of the e-book, visit http://bit.ly/1a9ZfwG.

About Innovolt®
Innovolt® combines patented electronics protection technology with comprehensive monitoring and analytics applications to deliver the leading Intelligent Asset Management platform.  Significantly reducing the cost of electronics ownership, Innovolt intelligently protects and manages the productivity and usable life of the technology that powers today's digital world. The company's proven Remote Optimization Control (ROC™) technology guards valuable electronic assets against the damaging effects of power and environmental disturbances and incorporates a cloud-based platform to give businesses the tools they need to predict, measure, and maximize equipment performance across the distributed enterprise. Innovolt has also been acknowledged as a fastest growing technology company by Deloitte, Inc. Magazine, Red Herring, the Technology Association of Georgia, Atlanta Business Chronicle, American Business Awards, and Lead411 and was a finalist for Forbes list of America's Most Promising Companies in 2013. For more information, visit www.innovolt.com.

SOURCE Innovolt

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