Energy Stock News:
Enterprise Group (TSX: $E.TO) Deploys Proprietary Asset Tracking & Dispatch
Software "Star" to Lower Costs and Increase Margins
St.
Albert, AB - April 10, 2018 (Investorideas.com Newswire) Enterprise Group,
Inc. ("Company" or "Enterprise") (TSX:E),
a consolidator of services to the energy sector; focused primarily on
specialized equipment rental, announced today that it has implemented its
proprietary dispatch & asset tracking software known as "Star" to
further cut costs and improve margins.
Star,
tracks and reports utilized assets, which provides the Fleet Manager the
ability to ensure the highest level of service to the client: In turn, lower
costs while delivering maximum equipment performance.
When
Enterprise Group (TSX:E) acquired Westar Oilfield Rentals in 2014, the
management team was working on a business management & dispatch software.
After
exhaustive and unsuccessful efforts in sourcing an effective software solution,
it was apparent that the group needed to develop this system in house.
Enterprise continued to fund and upgrade the project resulting in this unique
and proprietary technology asset, critical to the profitability and cost
mitigation of all the Company's subsidiaries.
"With
the components developed, we began process mapping our existing business
operations. As a result, we were able to considerably reduce our administrative
costs by automating many of the human elements," stated Des O'Kell SVP of
Enterprise Group. "Furthermore, with its implementation, the cost benefits
that emerged from asset tracking are substantial."
This
approach keeps the customer up and running and ensures other expended revenue
and protection of the asset. The software is comprised of 18 components that
work together and exchange information over a central database. Early results
confirmed improved metrics including lowering costs and raising margins.
With
Star successfully deployed in all our rental divisions, Enterprise Group now
has a proprietary and custom software designed explicitly for its business.
About Enterprise Group, Inc.
Enterprise
Group, Inc. is a consolidator of services to the energy sector. The Company's
focus is primarily on specialized equipment rental. The Company's strategy is
to acquire complementary service companies in Western Canada, consolidating
capital, management, and human resources to support continued growth. More
information is available at the Company's website www.enterprisegrp.ca. Corporate filings
can be found on www.sedar.com.
For questions or additional information, please
contact:
Leonard Jaroszuk, President & CEO, or
Desmond O'Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Desmond O'Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Forward
Looking Information
Certain statements contained in this news release
constitute forward-looking information. These statements relate to future
events or the Company's future performance. The use of any of the words
"could", "expect", "believe", "will",
"projected", "estimated" and similar expressions and
statements relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of such future events. In
particular, this news release contains forward looking information relating to
the use of proceeds from the CTHA transaction and post-closing adjustments
relating to such transaction. These forward-looking statements are based on
assumptions and are subject to numerous risks and uncertainties, certain of
which are beyond the Company's control, including reliance on contractual
arrangements with third parties, general economic conditions, industry
conditions and competitive factors. Actual future results may differ
materially. The Company's Annual Information Form and other documents filed
with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors
that could influence actual results and which are incorporated herein by
reference. The Company disclaims any intention or obligation to publicly update
or revise any forward-looking information, whether as a result of new information,
future events or otherwise, except as may be expressly required by applicable
securities laws.
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