State Of - Deutsche Bank Says Embedded Finance Is Changing Business Models

FourKites and BuyCo Partner on Container Shipping Management Solution

FourKites, BuyCo Partner on Container Shipping Management

FourKites and BuyCo partnered to offer a container shipping management solution that provides Fortune 500 shippers with visibility across inland and ocean shipments.

With the integrated offering created by this collaboration, shippers can manage initial planning and booking, documentation and tendering and gain real-time transportation visibility, the companies said in a Wednesday (April 3) press release.

“Ocean shipping is extremely complex, with numerous stakeholders and cumbersome documentation workflows that can account for upward of 70% of detention and demurrage,” FourKites founder and CEO Matthew Elenjickal said in the release. “Together with BuyCo, we are filling a significant gap in the industry, enabling shippers to efficiently manage all container shipping operations and gain real-time, end-to-end visibility in one integrated solution.”

FourKites provides a real-time supply chain visibility platform that tracks inventory, shipments and orders; identifies risks and inefficiencies; and helps businesses save money and serve their customers better, according to the release. The platform tracks more than 3.2 million shipments daily.

BuyCo offers a container shipping platform that lets shippers retrieve shipping schedules from their preferred carriers; select the optimal route; and complete the booking process, the release said. The company’s global network of ocean carriers covers 97% of global container flows.

With the end-to-end digitization provided by the companies’ integrated solution, high-volume shippers can streamline their operations, build a more sustainable supply chain and enhance the customer experience, per the release.

“Our collaboration with FourKites marks a significant advancement in providing shippers with the necessary tools to get full visibility over the door-to-door container journey,” BuyCo CEO Carl Lauron said in the release.

The emergence of digital platforms and technologies for the freight industry is revolutionizing the way goods are transported, coordinated and managed globally, PYMNTS reported March 26.

Another partnership in the space was formed in February, when PayCargo and Rippey AI collaborated to connect artificial intelligence with payable and receivable invoices in the logistics industry. These companies aim to connect invoice automation and transaction processing to drive efficiency across the industry.

Also in February, Flexport launched a technology platform that provides global shippers with access to a trucking capacity marketplace of small carriers and owner-operators. By connecting small carriers with shippers, Flexport’s Convoy Platform aims to strengthen the logistics ecosystem for all parties involved.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.