FarEye has been recognized in a recent report by Gartner, for its pioneering technology solution. The report titled- Market Guide for Vehicle Routing and Scheduling from Gartner emphasizes the necessity for businesses to adopt new routing and scheduling technologies, in order to remain competitive and improve workforce productivity, optimize workflows and boost output.
FarEye is a carrier agnostic SaaS platform that digitalizes logistics by integrating and optimizing business processes and adding a predictability layer to make them more efficient. The solution uses a blend of mobility and geo-intelligence to provide real-time multi-enterprise visibility of logistics function.
Kushal Nahata, CEO and co-founder of FarEye says, “FarEye’s vehicle routing and scheduling solution addresses the problem of “unclear” addresses with its machine learning capabilities and has better accuracy than many address mapping companies. Our internal database of over 1 billion stored addresses improves the address quality by 20-25%. Another layer of intelligence is further applied to convert the text-based addresses to geo-pins on map for optimal routing, saving a substantial share of the ‘last-mile’ cost that constitutes about 28%-32% of the total logistics costs, thus reducing miles per delivery.”
The growing popularity of ecommerce has given rise to accommodate a new business model, which is ‘digital logistics.’ FarEye is working with industry leaders in the region like Century Express, Maraxpress et al, to help overcome their challenges of lack of real time visibility of last mile deliveries, excessive usage/wastage of paper, gap in customer experience and others. FarEye’s technology enables enterprises to improve their fleet management, customer experience, and overall efficiency.
In addition, FarEye is pleased to announce that the company has been ranked 150 for its 362% revenue growth over the last three years in Deloitte’s Technology Fast 500 Asia Pacific awards program. The Technology Fast 500 APAC award winners were selected based on percentage revenue growth over three years. Qualification for the Technology Fast 500 requires that companies own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues.