Value

 

Value, like beauty, is in the eye of the beholder. We won't presume to tell you how you should perceive the value of biometrics but the following are some things to consider. 

 

Biometrics, using palm vein scanning, allows the automation of identity verification, bringing value to virtually every industry. Faster, more accurate identification frees up employees to do value-added work, significantly reducing costs and quickly becoming a net revenue contributor. 

 

We see the value of biometrics comprising two elements; Peace Of Mind and Return On Investment.

 

Peace Of Mind is knowing you have the ability to quickly and easily identify a person and confirm their permissions to undertake a particular action, receive particular service or access specific data. Prevent errors and mistakes that can have life threatening implications and/or major financial costs. 

 

Return On Investment means any technology you purchase should clearly demonstrate a financial value. Reduce cost, improve efficiency and accountability, streamline processes and make them faster and more accurate . This is technology that rapidly pays for itself and becomes a net revenue contributor. 

  •  Healthcare: Hospitals, Medical Clinics, General Practitioners, Telemedicine

 

Clearly the first priority is the safety of the patient. There is significant value knowing exactly who the patient is and retrieving the correct record(s). This prevents procedural errors, medication mistakes and other human error mistakes that are the bane of busy hospitals where a quiet day is merely a relative term

  • Aside from the safety aspect there are real costs to correcting overlaps and overlays. 

  • There are also major financial risks from misidentification. The total national healthcare cost of preventable medical errors resulting in patient injury is between $8.5 billion and $14.5 billion. 

  • ePortID™ solutions mitigates these risks and rapidly provides significant return on investment 

    •  Medicare fraud in fiscal year 2011 was anywhere from $17-57 billion. A palm vein scan can't be faked.

    • Using standard methods it takes a minimum of 3 minutes to confirm a patients identity at registration. We do it in 2 seconds. That's a 9,000% increase in efficiency

    • Process flow is materially improved allowing increased patient throughput resulting in an increase in revenue.

  • Small, Medium and Large BusinessIndustry, Factories, Processing Plants, Warehouses, Stores, Offices

Workforce Management & Time & Attendance:  According to the American Payroll Association the average employee steals 4 hours 5 minutes per week.    

       

We sincerely hope they are wrong but lets assume they are half right and it's 2 hours. Then an organization employing 55 people is losing 5,720 hours per year in productivity.  

                                                                                                                     

An hourly salary of $18 actually costs employers $28.80. For 55 employees that's lost revenue of ($164,736) per year. More employees? The loss increases exponentially. 

 

  • Added to time theft is the cost of manually calculating payroll. For an employee base of 55 payroll processing can be an additional cost of $56,498 per year.

    • Use the payrol processing calculator to work out your cost

 

Combined the cost of time theft and payroll processing for a company of 55 equals a total annual revenue loss of  ($221,234)

 

  • There is also the issue of security. Protect your people and assets from harm and theft from unauthorized people wandering in from outside

    • Control access to areas where valuable equipment and tools are stored

    • Prevent a terminated employee from gaining access to your premises and causing trouble

    • Control employee theft. 60% of inventory loss is caused by employee theft

  • The ePortID™ solutions eliminate these cost factors, increase accountability and provide a rapid return on investment.

  • Critical Infrastructure: Oil Refineries, Chemical Plants​, Seaports, Airports, 

 

Security: An attack on critical infrastructure is not an if, it's a when and is just a matter of time.

 

Critical infrastructure can benefit from easy to use, accurate, fast and mobile biometric identity solutions.

  • Physical access control using biometrics prevents the wrong person from entering even if they wear the right uniform

  • The ability to random challenge to ensure the right person is in the right place is crucial to good security

  • Providing real time alerts if there is an issue means response times are reduced

  • The financial risks of plant shutdown are mitigated

  • The pollution risks from unauthorized activity that pose a threat to local populations and the environment are reduced

    • Using ePortID™ solutions as an element in the security profile helps mitigate these risks

      • An added benefit is that reporting of activity in real-time and accurate data being provided to HR systems reduces expense.

  • EducationDay-Care, Middle and High Schools, Universities

 

All educational facilites from day care centers to Universites can benefit from easy to use positive identity solutions

  • Control access to areas children work and play

  • Prevent the wrong person from picking up a child

    • Custody of a child is often court mandated and handing a child over to the wrong party leads to legal issues

  • The cost of ID cards and FOBS is expensive and time consuming to administer

  • Security is an issue and managing access is a key component of safety at educational institutions

  • Reduce the cost of managing time and attendance of student, staff and visitors

  • Increase compliance for local, state and federal requirements

  • Real time reporting helps manage the daily work schedule

In conclusion we can only say that we think there are some very compelling reasons to use the ePortID™ suite of identity verification solutions.

 

Call or e-mail us to discuss your needs and requirements.