Home » IT in Logistics » Technology Innovation and Risk-Bearing Capacity Keys to Survival

Many companies in the freight and logistics space have shut down in recent times succumbing to the challenging environment the industry has been seeing. Of the many possible reasons these companies could not survive the testing times two stand out—the inability of the company to take risks and to ride the technology wave.

 

Not having a relevant strategy to make technology central to business process has led to companies losing their ability to avert the impending threat to their business. Embracing technology and innovation and aligning it to the company goals is important if companies want to weather rough periods. Not only should the freight and logistics company be open to taking risks, when it comes to embracing innovation they should follow the thought process of a technology company.

 

A strong technology platform designed to create a more seamless customer experience is essential to enhance the customer experience. It allows for greater personalization of the customer experience and will enable the company to position itself at the forefront of innovation. If the company is prepared to take a few risks it can become more adaptable to the needs of customers in the future. This is an approach that every freight and logistics company should be looking to take if it wants to avert the shutting down of its business.

 

Learning from peers is one thing but to have greater thrust of innovation and ensure a long-term sustainability more planning is required. Observing some of the most successful global companies and taking a leaf out of them can help build a successful technology base.

 

An approach that companies can employ is doing things a little differently and by providing pioneering services that fulfil the needs of customers. The technology that freight and logistics companies employ must be significant enough to increase the pace of innovation and help deliver pioneering services. When it comes to bringing a higher level of personalization to the customer experience, technology can make a huge difference.

 

Technology enables employees right from sales to operations and customer service provide personalized services to each customer, by fulfilling their individual requirements and preferences. This sets the company apart from its competitors in terms of the added value it gives to its customers. A key element to this entire process is the company’s readiness to be open to taking a few risks. Being innovative in the freight and logistics business is also about listening to customers and implementing initiatives to meet their needs. Companies that follow this stand the best possible chance of avoiding breakdowns or taking a beating on profits and sustaining the growth path.

 

Amit Maheshwari’s 25 years of domain knowledge, vision and deep understanding of logistics marks him as a major thought leader in the industry. Under his leadership, Softlink Global has become a leading global logistics software provider. One of his major creations Logi-Sys is a comprehensive ERP for the freight and logistics industry that has become a global success.

 

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