While real-time transportation visibility is still a relatively new software category — one that FourKites pioneered less than five years ago — it is clear that the industry’s movement toward interconnected, secure, intelligent and collaborative supply chain networks is gaining momentum like never before.
One of the more recent indications of that momentum is the release this week of Gartner’s first-ever Magic Quadrant for Real-Time Transportation Visibility Platforms. The analyst firm’s report comes after a year of dramatic market growth, turbo-charged by a pandemic that put unprecedented strain on our global supply chains. Gartner positioned FourKites as a Leader for ability to execute and the highest completeness of vision, highlighting our strong presence with the largest enterprise customers across many vertical industries, and our history of industry-first innovation and community-building.
I want to pause for a moment on that idea of community. It is our Community — the largest supply chain visibility network in the world, now 500+ customers strong — that has helped drive us toward that “completeness of vision”. Since our inception, we have always put our customers first. Supporting them to be successful on our platform; listening to them so that we can best understand their biggest pain points; giving them insight into our product roadmap, and innovating with them so that we can ensure that our solution is always filling their critical needs; and gathering their feedback and ideas so that we can continue to deliver value day in and day out. Through close collaboration with our Community, we get a new idea for platform expansion every single day. In 2020 alone, we launched 126 new features, 50% of which came directly from our customers.
I am so proud of the community we have built, and so excited for what we will continue to build together. And now, with the backing and partnership of our new strategic investors — Volvo Group, Qualcomm Ventures, Zebra Technologies and Thomas H. Lee Partners — we will continue to lead the supply chain visibility space with industry-first innovations, and continue to grow our Community with companies looking to supercharge their supply chains with the best the market has to offer.
In addition to recognizing FourKites for its category-defining milestones and leadership position, more broadly, Gartner’s report reflects the growing popularity and necessity of supply chain visibility, and the need for clear evaluation criteria for prospects looking to invest in such a platform. And beyond those evaluation criteria, it’s important for prospects to find the companies that can provide robust assurances of successful implementations that meet — and even exceed — their objectives for quality and time to value.
Gartner’s report also reinforces for me that leadership is a never-ending commitment. That’s why FourKites recently announced new service-level agreements and an industry-first data tracking guarantee that collectively help customers achieve end-to-end supply chain visibility faster, and with assurances of the highest-quality tracking in the industry.
More specifically, our new Carrier Connect Guarantee™ ensures connectivity to 90% of a customer’s full-truckload carrier network within 30 days of project kickoff, helping organizations lower operating costs, improve on-time performance and create better customer relationships. And our industry-first Tracking Quality Guarantee (TQG) establishes the highest standards in supply chain data, guaranteeing real-time visibility and predictive intelligence into a minimum of 90% of customers’ shipments — end-to-end and across every mode and geo.
Individually, these are valuable guarantees. Together, they are powerful and differentiating in the industry. Swift carrier connections are important, but without a massive network of the highest-quality real-time logistics data, your network lacks the raw fuel for insights and collaboration. Similarly, quality data is of limited value if supply chain partners aren’t wired and ready for action.
These guarantees conclusively illustrate the power of the FourKites network and our community. This is the power of tracking more 2 million active shipments for 500+ of the world’s most recognized shippers every single day. It’s the power of intelligently analyzing billions of data points so that customers and partners can proactively identify, alert and mitigate exceptions, using the industry’s best artificial intelligence and machine learning-based algorithms. And it is the power of securely sharing and collaborating across the world’s biggest network of supply chain leaders.
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As the pioneer of the real-time supply chain visibility market back in 2014, and an innovator of so many industry-firsts, it’s incredible to see our market evolving so rapidly. The 2021 Gartner Magic Quadrant is validation of the growing importance of real-time transportation visibility, and a recognition that there is so much more to come. We look forward to a future of ongoing leadership and innovation — for and with our incredible customers!
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