TZ Limited’s US expansion continues with ‘strong growth’

TZ Limited ASX TZL SMArt lock SMArt software platforms United States
TZ Limited’s purchase orders have come from a mix of existing clients including Microsoft and new customers.

Developer of access control, smart lock and self-serve locker bank systems TZ Limited (ASX: TZL) has experienced “strong growth” in the US, receiving more than US$2.2 million in purchase orders from customers in the country since April.

Since the start of April, TZ has received more than US$2.2 million in purchase orders from a mix of its existing client base and new customers.

TZ noted its existing US blue-chip clients had been seeking to expand, upgrade or replace their access control and locker bank solutions with the company’s new systems.

Meanwhile, new clients had committed to TZ’s SMArt lock and SMArt software platforms.

“The improving rate and flow of new purchase orders into the business clearly shows that as our existing base of blue-chip US customers emerge from the COVID-19 pandemic, there is a heighted demand for TZ’s access control, smart lock and self-service locker bank solutions,” TZ chief executive officer and managing director Scott Beeton said.

“Encouragingly, the business is expanding its installed client base across all market sectors we operate in.”

Microsoft expands TZ services

Microsoft is an existing TZ customer and during the period, it ordered US$547,000 worth of the company’s technology to complete a major hardware upgrade on its existing locker bank network.

As well as Microsoft, a “leading” US university has purchased US$572,000 of TZ’s mailroom and locker bank solution.

This was after electing to cancel an order with a competing provider.

Smart lock technology market

Mr Beeton says parcel collection flexibility is a “huge” and “underserviced” market opportunity for TZ.

Data indicates more than half of online shoppers elect to have their parcels delivered to after-hours collection hubs.

Last year, click and collect sales in the US grew 107% to US$72.46 billion.

This is forecast to almost double to US$141 billion by 2024.

With the growth in demand for click-and-collect retrieval processes, Mr Beeton says demand is mounting for the company’s smart lockers.

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