SHIPTEK Solutions Corp., a Philippine-borne technology company, on Monday formally introduced to the media its blockchain-based digital logistics platform in Makati City.
The software solutions provider dubbed its platform XLOG, saying it is the country’s “first end-to-end digital logistics platform” and offers enterprises “with complete supply chain management solution.”
Shiptex officials Joey Inion (left) and Nico Gonzales face the media at XLOG launch. (EKU)
XLOG comes with strong support, backed by many years of experience in the shipping and logistics industry. Shiptex unveiled it in May this year.
Shiptek’s founder and CEO, Eugenio Ynion, Jr., has been in the industry for a quarter of a century.
Of the industry’s woes that he cited prominent among them is the rising costs of transporting or conveying goods.
“As a logistics expert working in the industry for almost 25 years, I recognize where the logistics industry is at the moment. It is governed by unnecessary costs that are inexorably increasing at every opportunity.
“It is influenced by wrong perceptions, made so because the right data are not
available, which then contributes to a detrimental environment for everybody involved in the business of logistics. But now we have XLOG — a technological advancement that promises to breathe life into the industry. XLOG’s bottom-line mission is to improve companies’ bottom line,” a confident Ynion said in a statement.
With the digital platform’s launch, XLOG hopes to play a role in helping lower the costs of shipping and trucking, among other solutions. In short, change the shipping industry.
XLOG offers shippers Quick Online Booking that save customers time and resources by giving them the opportunity to book their logistics requirements through the internet from reputable logistics service providers — covering shipping and storage to trucking and customs brokerage.
Growing global logistics market
Joey Ynion, chief operating officer (COO) of Shiptek, noted at the November 20 event that the world’s logistics market’s value in 2017 climbed to US$10.32 billion, adding the amount was forecast to grow to US$12.68 billion by 2023.
“This just proves that the logistics industry remains an important contributor to every country’s growth. However, despite its importance logistics is in dire need of an upgrade, with many of its processes still very much manual,” he pointed out.
In response, Shiptek conceptualized XLOG to make logistics smarter and more efficient by providing tools that allow shippers fast and cost-effective online booking, end-to-end shipment monitoring through GPS, and easy transaction management.
One other going for XLOG, it was created by shippers for shippers and leverages emerging technologies like blockchain.
Remember the problem about “paihi” or the pilferage of cargo loads such as oil and merchandise goods from ships and trucks?
Nico Gonzales, chief marketing officer (CMO) of Shiptek, in an interview with SDN — Scitech and Digital News, said the use of GPS for real-time monitoring of shipping and trucking provides a means to detect and catch pilferers.
“First and foremost, when you have visibility and transparency like that and you can see the trucks’ movement, as a service provider you will be conscious already, and you will be a bit more careful in how you operate because you are seeing (your trucks) all the time,” he said.
Another thing, Gonzales said, once XLOG captures the moment a truck stops, the service provider can already be informed (about the possibility of a pilferage) and they can be held accountable for it.
Trucks on the road for transporting goods. (Image: Pixabay)
“You (the client of the service provider) can hold them (service provider) responsible because it’s their driver. If there are pilfered goods, you can hold them accountable,” he added.
XLOG’s monitoring function
“We provide you that initial insights if (your) truck stops. The next action is really being able to hold accountable service providers. We provide the connection between the service provider and the customer,” Gonzales said.
On blockchain, he said Shiptek wants the transactions to be paperless as well as making sure that with blockchain transaction documents like invoice are not tampered, replaced, or edited.
“With blockchain we can guarantee that all the documents that come in will not be tampered with. (There is) immutability of the documents,” the Shiptex executive said.
He said that is the reason the company is implementing a private blockchain network.
Aside from a Quick Online Booking, XLOG also provides Transparent Rates and Online Payments, End-to-End Shipment Monitoring, and Early Transaction Management.
Membership to XLOG is free and those interested may visit https://web-xlog.net/. (EKU)