Yahoo Finance

PHOENIX, AZ, CHESAUX-SUR-LAUSANNE, Switzerland, and HARRISBURG, N.C., USA, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Kudelski IoT, a division of the Kudelski Group (SIX: KUD.S) and a pioneer in digital security and IoT solutions, and KEYper Systems, an ASSA ABLOY company, today announced a strategic collaboration to transform key management for car dealerships. The partnership brings together the secure key storage and checkout solutions of KEYper Systems with the advanced, real-time dealershipwide key location tracking capabilities of Kudelski IoT’s RecovR for Keys.

Car dealerships face significant challenges due to key mismanagement, leading to operational inefficiencies and financial losses. While specific statistics on key loss are scarce, RecovR’s customer survey indicates that dealerships lose an average of $30,000 per year due to lost keys. The combined technologies of both companies provide dealers with unprecedented security, control and oversight over their keys, increasing dealership efficiency, reducing time to sale and curbing the expensive problem of key loss.

This collaboration seamlessly integrates the state-of-the-art KEYper MX electronic key and asset control cabinets with RecovR for Keys’ Bluetooth key tags. For the first time, car dealerships will have a comprehensive single-screen overview that tracks who accessed which key and whether it is in or out of the cabinet and pinpoints the exact location of keys across dealership lots. This enables quicker customer service and improves dealers’ operational efficiency so they can spend more time selling cars and less time hunting for keys.

“Our partnership with KEYper Systems tackles a critical pain point for car dealerships,” said Patrick Hauert, SVP of Asset Tracking at Kudelski IoT. “By combining our real-time tracking technology with KEYper Systems’ proven key control solutions, we’re helping dealerships streamline operations, improve vehicle tracking and reduce financial losses tied to key mismanagement.”

“The integration of RecovR with our systems delivers a new level of visibility and accountability for dealerships,” added Steve Baucom, president and head of automotive at ASSA ABLOY’s KEYper Systems. “This innovative solution is a game-changer for dealership operations, and we’re thrilled to unveil it at NADA 2025.”

Attendees at NADA 2025 will have the exclusive opportunity to see a live demonstration of this integrated solution at the RecovR’s booth, 4501. The demo will highlight how the integration provides the following benefits:

• Enhanced visibility: Monitor key access in real time and track key movements beyond the confines of the key cabinet.

• Improved accountability: Identify who accessed which key and track key usage patterns for enhanced security.

• Operational efficiency: Reduce the time spent searching for keys to improve the overall workflow of dealership operations.