TZ’s smart locks merge convenience and security
In 2014, 47 billion parcels were shipped globally. As of 2019, it was 103 billion – and that has grown exponentially throughout the COVID-19 pandemic. Is it time to throw away the lock and key?
In 2014, 47 billion parcels were shipped globally. As of 2019, it was 103 billion – and that has grown exponentially throughout the COVID-19 pandemic.
Is it time to throw away the lock and key?
In the age of the agile workplaces, online shopping and parcel lockers, there is a need for more flexible and secure locking systems. TZ Limited (ASX: TZL) is an Australian company that is a smart lock market leader for postal services, corporates and universities.
There are two main components of TZ – smart lock hardware and behind that, the software that their multinational clients use to manage their locking systems.
“There aren’t many Australian companies that are selling software to the largest software providers in the world like Microsoft, Apple, CISCO, and Amazon. Our client base have chosen our solution, not only because of the security and depth of our platform, but also because we can deploy and customise solutions to meet their needs,” said CEO Scott Beeton when he spoke on The Insider.
To name just a few projects, TZ has provided Apple with 30,000 storage and package lockers, 300 access point lockers for UPS, and 26,000 day lockers for Westpac. They also provide smart lockers for mailrooms at Ivy League colleges including Princeton, Columbia and Rutgers.
“In the US, we’re the market leader in this category. It’s a massive market and only growing, particularly with COVID,” said Scott.
TZ is also the preferred provider for two of the largest data centres in Australia, Next DC and Macquarie Telecom.
Following a restructure and cost saving measures in early 2020, TZ is well-positioned to launch its newest offering at the end of the month – SMArtWork.
“This is where we’ve taken all our existing technology from those big corporates and we’re re-deploying it into a much more simple solution to roll out for smaller organisations, said Scott.”
“The way we’re selling the software is only through the software-as-a-service subscription model which is a very different model to the way we’ve sold to the large corporations in the past,” he explained.
They are also exploring opportunities to move into the market for smart locking medicine cabinets, retail cabinets, gun and ammunition cabinets, as well as for domestic uses.
Last week, TZ’s CEO Scott Beeton joined us for ‘The Insider. This article is a summary of the information Scott shared with us during the session. You can watch a recording of the session below, or you can click here to book into our next session where we will be joined by PlaySide Studios, Nusantara Resources (ASX:NUS) and Nickel Mines (ASX:NIC).
‘The Insider’ is a great way to hear directly from the CEOs of fast growing Australian businesses. You will get valuable insights to their industries and companies future prospects.
The Insider – Event Details:
Date: Wednesday, 2nd December
Time: 12 pm AEDT
Format: Online, 3 x 15 minute presentations
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