Bio Recognition Systems Pty Ltd has had significant profit growth over the last 12 months, growing its customer base to more than 300 companies across Australia, including high profile security providers such as Honeywell. The company’s product portfolio includes hardware and software that enables enterprises to track time and attendance as well as physical access to company resources. Bio Recognition also provides developer kits that allow programmers to build biometric components for custom applications.
The company, founded in 1999, began the following year to develop identity systems based on high-frequency signals incorporating algorithms allowing the sensor to read beyond the surface to the live layer of skin where the real fingerprint resides. The result is an accurate read, even when the fingertips are dry, contaminated by dirt or the fingerprints are extremely faint. The ultrasonic frequencies used Bio Recognition’s product range are also safe, generating less electricity than is present in most atmospheres.
Bio Recognition’s Chief Executive Officer, Jon Reid commented, “We can demonstrate a rapid return on investment to prospective clients, by improving the accuracy of biometric systems and eliminating the administration and error associated with other systems such as bundy clocks or individual access cards.
“We believe that our solutions stack up against the best in the world. Certainly, we have a strong customer base in Australia and we are about to move to the next level, by opening an office in the United States.”
ADI Director, Alan Milwidsky added, “Bio Recognition Systems offers truly world class solutions for the problems of time recording and access control. We believe their developments will gain significant traction in global markets, and we are pleased to have supported their early growth.”
Bio Recognition Systems has offices in Sydney, Melbourne, Brisbane and Adelaide. The company expects to achieve profitability in fiscal 2006.
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About Business Strategies International (BSI) and Australian Distributed Incubator (ADI)
Established in 1989, BSI is a leader in providing innovative and integrated business services for small to medium businesses through to large corporate enterprises. As an organisation, BSI have grown through their vision of "helping you grow" through business strategy, accessing government assistance and raising capital. BSI's wholly owned subsidiary, ADI is a BITs Incubator Fund helping talented entrepreneurs build leading technology companies. For further information, please visit www.bsi.com.au and www.adinc.com.au