It’s been just a few short months since thousands of the world’s preeminent supply chain leaders came together to chart the future of supply chain management at Visibility 2021. With a rallying cry of “Go Beyond,” we challenged ourselves to go faster, together — to push the boundaries of what’s possible when the supply chain ecosystem collaborates and innovates based on real-time supply chain visibility data.
Today, through our acquisition of European supply chain visibility provider NIC GmbH (NIC-place), we aren’t merely pushing at the boundaries of end-to-end supply chain visibility. We’re obliterating many of them entirely.
I’ll start with what makes NIC-place so special.
Alone, FourKites and NIC-place have each distinguished themselves as pioneers and market leaders. Together, we’re a powerhouse.
Europe is a vitally important cog in the complex machinery of global supply chains. The region’s requirements are distinct, as are the requirements of transport companies, carriers and LSPs. A two-pronged approach is clearly the right way forward, and that’s what makes this acquisition so consequential.
NIC-place will accelerate the build-out of the industry’s most robust and secure platform for carriers, while the shipper community gains true end-to-end, intermodal tracking in Europe; the ability to optimize the utilization of rail assets; the best temperature tracking solution in the world; and a highly engaged and growing carrier community that is confident in sharing data with trusted partners.
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I’ll close by noting that many companies acquire in order to gain new customers and “buy revenue”. It’s a bottom-line mentality that has little, if anything, to do with customer value. These types of acquisitions invariably carry the baggage of a host of thorny integration issues that can preoccupy the new entity for months or longer, leaving customers scratching their heads as to what it all means for them. FourKites’ philosophy is to acquire complementary companies that can quickly accelerate innovation and the rollout of differentiating platform capabilities.
In other words, we acquire for the purpose of increasing customer value. Viewed through this lens, the acquisition of NIC-place is a grand slam for customers: a “1 + 1 = 3” value proposition that changes the game for all.
We’ll be showcasing the NIC-place solution and the value it brings to both carriers and shippers in a live webinar taking place on Wednesday, February 16. Register here.