SuperCom Ltd. (NASDAQ: SPCB) Anticipating Increase
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Posted On: 03/12/2024 4:52:49 PM
SuperCom Ltd. (NASDAQ: SPCB) Anticipating Increase in Demand for EM Solutions
- Studies have proven that Electronic Monitoring (“EM”) solutions reduce reoffending within 24 months by 16%, and for individuals aged 30 years and under, it reduces reoffending by 43%
- These solutions have also been shown to reduce criminal justice costs by about $30,000 for each eligible offender
- With such benefits and the validation that comes with governments around the world adopting EM solutions, SuperCom anticipates a significant uptick in the demand for EM solutions
SuperCom (NASDAQ: SPCB), a global leading provider of traditional and digital identity solutions offering advanced safety, identification, and security products, projects an uptick in demand for Electronic Monitoring (“EM”) solutions. This stems from the growing realization and acknowledgment of the effectiveness of these solutions when correctly applied, having proven to reduce reoffending and criminal justice costs.
A study published by the IZA Institute of Labor Economics noted that EM solutions, such as SuperCom’s One-Piece GPS Tracking and Two-Piece GPS Tracking, reduced reoffending within 24 months by 16% compared to serving a prison sentence. It was further noted that for offenders aged 30 years or less, the reduction stood at 43%, with a sizable and significant reduction in reoffending persisting for eight years (https://nnw.fm/1nlfJ ). The study further noted that with EM solutions, criminal justice costs were reduced by about $30,000 for each eligible offender, significant savings, especially taking into account that the U.S. had roughly 1.8 million people incarcerated at the end of 2023 (https://nnw.fm/dKCYM ).
Various governments worldwide have taken note of the effectiveness of EM solutions and have gone ahead and utilized them. Finland, for instance, deployed SuperCom’s Domestic Violence Monitoring Solution, an integral component of its PureSecurity EM Suite. The primary objective of this adoption was to empower the Finnish authorities, safeguard victims, and proactively prevent domestic violence incidents, ultimately enhancing the safety and well-being of Finnish citizens (https://nnw.fm/2Zeai ). In October 2023, Romania’s Ministry of Interior made the third order with SuperCom for its National EM Project to the tune of approximately $3.4 million, adding to the list of governments employing such solutions (https://nnw.fm/NmQHg ).
With the number of EM solutions adopters globally slowly and steadily growing, SuperCom is positioning itself to take advantage of this growth. With the validation it has received from the secured government contracts around the world, coupled with the growing realization of the overall benefits of EM solutions, the company anticipates a growth in the demand for its products and services. Just earlier this year, it announced a new EM contract in California, having closed another contract within the USA in December of 2023. Ordan Trabelsi, SuperCom’s CEO, has attributed these milestones to the team’s hard work and commitment to improving public safety and supporting rehabilitation efforts.
“We are proud to see our new proprietary solutions gaining traction in new regions in the US, reaffirming our commitment to innovation and excellence in the field of electronic monitoring,” noted Mr. Trabelsi. “It is a testament to the hard work of our team and the trust our partners place in our technology,” he added (https://nnw.fm/RVuKx ).
Since 1988, SuperCom has been perfecting its product offerings, implementing new technologies that have helped it set itself apart from its peers. This proactive approach to research and development has earned it a significant market share globally. It has also helped assert the company as the leading provider of digital identity and electronic monitoring solutions to governments and private and public organizations.
As the conversation around the overall benefits of EM solutions continues to proliferate, SuperCom is confident that the demand for its offerings will increase, further stamping the company’s position as a leader in this important space.
For more information, visit the company’s website at www.SuperCom.com.
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Studies have proven that Electronic Monitoring (“EM”) solutions reduce reoffending within 24 months by 16%, and for individuals aged 30 years and under, it reduces reoffending by 43%
- These solutions have also been shown to reduce criminal justice costs by about $30,000 for each eligible offender
- With such benefits and the validation that comes with governments around the world adopting EM solutions, SuperCom anticipates a significant uptick in the demand for EM solutions
SuperCom (NASDAQ: SPCB), a global leading provider of traditional and digital identity solutions offering advanced safety, identification, and security products, projects an uptick in demand for Electronic Monitoring (“EM”) solutions. This stems from the growing realization and acknowledgment of the effectiveness of these solutions when correctly applied, having proven to reduce reoffending and criminal justice costs.
A study published by the IZA Institute of Labor Economics noted that EM solutions, such as SuperCom’s One-Piece GPS Tracking and Two-Piece GPS Tracking, reduced reoffending within 24 months by 16% compared to serving a prison sentence. It was further noted that for offenders aged 30 years or less, the reduction stood at 43%, with a sizable and significant reduction in reoffending persisting for eight years (https://nnw.fm/1nlfJ ). The study further noted that with EM solutions, criminal justice costs were reduced by about $30,000 for each eligible offender, significant savings, especially taking into account that the U.S. had roughly 1.8 million people incarcerated at the end of 2023 (https://nnw.fm/dKCYM ).
Various governments worldwide have taken note of the effectiveness of EM solutions and have gone ahead and utilized them. Finland, for instance, deployed SuperCom’s Domestic Violence Monitoring Solution, an integral component of its PureSecurity EM Suite. The primary objective of this adoption was to empower the Finnish authorities, safeguard victims, and proactively prevent domestic violence incidents, ultimately enhancing the safety and well-being of Finnish citizens (https://nnw.fm/2Zeai ). In October 2023, Romania’s Ministry of Interior made the third order with SuperCom for its National EM Project to the tune of approximately $3.4 million, adding to the list of governments employing such solutions (https://nnw.fm/NmQHg ).
With the number of EM solutions adopters globally slowly and steadily growing, SuperCom is positioning itself to take advantage of this growth. With the validation it has received from the secured government contracts around the world, coupled with the growing realization of the overall benefits of EM solutions, the company anticipates a growth in the demand for its products and services. Just earlier this year, it announced a new EM contract in California, having closed another contract within the USA in December of 2023. Ordan Trabelsi, SuperCom’s CEO, has attributed these milestones to the team’s hard work and commitment to improving public safety and supporting rehabilitation efforts.
“We are proud to see our new proprietary solutions gaining traction in new regions in the US, reaffirming our commitment to innovation and excellence in the field of electronic monitoring,” noted Mr. Trabelsi. “It is a testament to the hard work of our team and the trust our partners place in our technology,” he added (https://nnw.fm/RVuKx ).
Since 1988, SuperCom has been perfecting its product offerings, implementing new technologies that have helped it set itself apart from its peers. This proactive approach to research and development has earned it a significant market share globally. It has also helped assert the company as the leading provider of digital identity and electronic monitoring solutions to governments and private and public organizations.
As the conversation around the overall benefits of EM solutions continues to proliferate, SuperCom is confident that the demand for its offerings will increase, further stamping the company’s position as a leader in this important space.
For more information, visit the company’s website at www.SuperCom.com.
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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