Concept:
M2SYS provides biometric identification technology to retailers for workforce management and point of sale applications. By utilizing biometric technology, which identifies an individual by their physiological characteristics, RightPunch is designed to help retailers stop preventable loss, lower costs, prevent time theft, increase productivity, build customer loyalty, achieve higher ROI, establish airtight access control, solidify role based security, boost operational efficiency, increase speed and comply with PCI requirements.
One of the trickle down effects of using biometrics is that it can potentially keep costs low (i.e. – boosting loss prevention means businesses will not have to pass that cost along to customers).
The solution is available in two formats: Bio-SnapOn, which is a non-integrated software solution that interfaces with any retail software solution as a keyboard or serial port wedge interface; or Hybrid Biometric Platform, which is a fully integrated software solution available through a host of retail software providers. Retailers also can leverage a customized version the RightPunch solution for time and attendance WFM applications through various HR Management Service Providers, such as KRONOS, ADP and Qqest.
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Team:
The biometric technology was created by M2SYS Founder, CEO and CTO, Mizan Rahman. Rahman founded Atlanta, Georgia-based M2SYS in 1998. While working on several different project designs at M2SYS, Rahman designed and developed a new generation supply chain sourcing automation technology that received strong market demand and interest. Recognizing the enormous potential for this application, in 1999, Rahman leveraged the innovation to spin off a separate subsidiary and founded Net Research, Inc./BayBuilder. BayBuilder evolved into the marketing and distribution arm of M2SYS’ strategic sourcing software.
Market Relevance:
According to the 2009 Global Retail Theft Barometer report, the global retail industry facing $115 billion in theft losses. This risk has created a demand for more secure identification technologies that will curb shrink, wardrobing, employee theft and help to raise accountability and productivity. In addition, biometric technology can help retailers “go green” by eliminating the time, energy, resources and capital required to manufacture barcode cards.
Delivery:
The solution is comprised of three components: server software, client software and scanning hardware. Retailers can purchase a server software license that is equal to the number of biometric enrollment templates they wish to store. The end user would then purchase a client license that is the equivalent to the number of PCs/tablets that they need in order to run the client software that powers the hardware and sends the scan to the server for identification. The end user then obtains the biometric hardware (fingerprint, finger vein, palm vein or iris readers) which plugs into a USB port into the computer and is used to create the biometric template and for all subsequent enrollments.
Proof Points:
M2SYS was the recipient of Frost & Sullivan’s 2007 Biometrics Technology Innovation of the Year Award for the company’s Bio-Plugin solution. Organizations including Baskin Robbins and US Vision utilize M2SYS technology, while several other retailers are currently piloting the technology.
