With this partnership, Coforge will bring agile, next-generation solutions to the transportation & logistics industry.
The digital services and solutions provider announced a partnership with Estes Express Lines (Estes), the largest privately held freight carrier in North America.The go-to-market launch will initially focus on a platform-powered application specifically created to address multi-dimension pricing plans required to generate the optimal freight rates for shippers and brokers who depend on carriers like Estes to move freight of all kinds around the world.
The global freight handling market has experienced a number of first time ever milestones over the last several years which have accelerated the demand for nimble technology, giving carriers the ability to address market opportunities and challenges swiftly, with less dependence on IT resources, Coforge said in a statement.
The Coforge Freight Pricing & Rating (PRISM) application is a platform-based solution that will be offered to carriers in North America and Europe.
PRISM was designed and developed with a few key tenets: industry standard-based, configurable / template-based constructs, designed for business analysts to make changes easily, and architected to add new pricing schemes, such as dimension-based pricing, as market adoption occurs. This transformative approach gives carriers the ability to focus pricing analysts and strategy teams on those critical activities, creates an expansive offering of pricing plans, and provides nimbleness to address market shifts swiftly by any dimension such as region, freight class, customer categories, handling, etc.
Todd Florence, chief information officer, Estes said, "At Estes, we're committed to building technology that not only makes freight shipping as frictionless as possible for our employees and customers, but that can also help the rest of the less than truckload (LTL) industry do the same." He added, "With the partnership with Coforge, Estes is able to share the PRISM framework with other companies that can customize it to meet their specific needs."
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Stuart Chandler, senior vice president - Digital Process Automation (DPA), Coforge said, "The partnership with Estes opens up a new road for Coforge to leverage its industry expertise, brand, and relationships in the dynamic transportation and logistics sector worldwide. The sector is subject to several macro and microeconomic factors, including pandemic-impacted supply chains, that are creating challenges in profitability. We believe that automation, such as the PRISM framework, is key to tackling industry-wide challenges."
Coforge is a global digital services and solutions provider. It leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises. The firm has a presence in 21 countries with 25 delivery centers across nine countries.
Coforge reported 13% rise in consolidated net profit to Rs 207.7 crore on a 5.1% increase in gross revenues to Rs 1,742.9 crore in Q4 FY22 over Q3 FY22.
Shares of Coforge rose 2.55% to Rs 3378.70 on Friday.
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