May 01, 2017
FourKites Named Entrepreneurial Company of the Year in the Dynamic Supply Chain Tracking Solutions Market by Frost & Sullivan
FourKites’ solution has modernized and enhanced supply chain visibility in the transportation industry
CHICAGO, IL – April 26, 2017 – FourKites, a company providing real-time tracking and supply chain visibility solutions across transportation modes and digital platforms, announces today it has been named Entrepreneurial Company of the Year by Frost & Sullivan. The award recognizes companies that excel in entrepreneurial innovation and customer impact. FourKites was recognized for its unmatched, real-time tracking data and orchestration tools, its superior ability to manage exceptions in the supply chain and its aptitude to adapt to changing industry dynamics.
Blind spots in the conventional freight tracking process have cost shippers hundreds of millions of dollars annually. Recently, as the trucking industry has been presented with higher operating costs, freight inefficiencies, mobility requirements, a shortage of drivers and rising demand for shipping flexibility, the need has grown for a more modernized solution to move the industry forward.
In response, FourKites built a software platform that streamlines information sharing in the logistics industry and provides high-quality, real-time data exchange between shippers, carriers and third-party logistics providers (3PLs). FourKites’ technology helps its customers track shipments and can be applied to frontline customer services, field sales and operations. FourKites’ visibility solution allows customers to gain better insights across the total supply chain. Currently, over 30 blue-chip global shippers, and eight of the top-30 3PLs rely on FourKites as their freight visibility and exception management console. FourKites unifies a host of systems to help users reduce operating costs, improve performance and deliver a better customer experience.
“FourKites has effectively differentiated itself from competitors by moving from ‘dots on a map’ to a fully actionable supply chain visibility solution that gives customers a 360-degree view of data and prioritizes a relationship-driven partnership model to help customers manage complexities,” said Silpa Paul, Industry Analyst at Frost & Sullivan. “Ten years ago, a real-time data exchange between shippers, carriers and 3PLs didn’t exist, so freight visibility was simply hours-old dots on a map that shippers and carriers tracked remotely. FourKites not only fills those blind spots in freight visibility, but provides orchestration tools that put the company miles ahead of its competition. We’re confident FourKites will continue its sharp growth trajectory, not just in North America, but globally too.”
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as technological innovation, strategic product development, leadership and customer service. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research in order to identify best practices.
“Hours-old visibility was the accepted norm in the past, but shippers and 3PLs now see retailer-acceptable ETA windows shrinking,” said Matt Elenjickal, founder and CEO of FourKites. “Customers expect their shipping experience to be similar to that of a consumer who ordered a pair of jeans or any other good online—full visibility in real time for any load, any mode. We built this business on an ambitious goal of redefining freight visibility and orchestration. We’re very proud to serve many of the world’s leading shippers and 3PLs. We know this is only the beginning, and it’s tremendously special to receive this prestigious honor for our boldness and to be labeled as a disruptive brand by Frost & Sullivan.”