Transport and logistics operations have traditionally been labor-intensive. Manual processes for data entry, localized and segmented information and a lack of integrated data means that there is no single source of truth for operations across locations and branch offices.
The transportation and logistics industry is one of the sectors that has lagged behind other industries in adopting digitization and automation.
According to the World Economic Forum, digitization in the logistics industry could provide $1.5 trillion in value by 2025.
Transport & logistics: The road ahead
With a proliferation of smart city projects, we're looking at a future of tech-enabled cities with lightning-fast WiFi connectivity and web-based transport solutions. The logistics industry will increasingly use connected vehicles, autonomous cars, delivery drones, and field devices that track real-time deliveries using geolocation tracking capabilities.
Are transport & logistics companies geared up for this data revolution?
While the transport and logistics sectors have been slow to go digital, the world has moved rapidly into digital operations, online ordering and payment platforms, electronic supply chain tracking systems and web-based ticketing systems. But is the logistics industry geared up to meet the new demands of tech-savvy customers and the lightning-speed response time demands of digital enterprises?
- The transport & logistics industry processes high volumes of information, but it has lagged behind in adopting technology or systems to capture and leverage data effectively for digitized process enablement and data-driven decision-making.
- Without timely updates to its technological infrastructure, the transport and logistics industry has built up a considerable amount of technical debt. It is burdened with legacy systems that don't adequately meet today's demands for omnichannel customer interactions and real-time data-driven operations.
- The transport and logistics sector is woefully unprepared for mobility and connected devices that will be the hallmark of a digitally transformed logistics industry of the future. As connected devices and real-time transport tracking become the norm, the complexity of data, operational processes, and workflows will increase. Automation will become essential to survival in a competitive landscape.
Logistics companies that want to capitalize on the growing demand for shipped goods and stay resilient in a dynamic market must adopt automation.
They must focus on automating document-intensive processes, managing data efficiently and accurately and delivering superior customer service.
Time to get agile in transport & logistics
The time is ripe for a technological transformation of the transport & logistics (T&L) sector! T&L companies need to build a strong foundation with a data management platform that will help them keep pace with the speed and volume of information in the digital era and generate valuable business insights to drive growth in a digital landscape.
Here are a few aspects to keep in mind when they invest in digital infrastructure:
- Data platforms must be agile and connect seamlessly to ecosystems, including supply chain partners and customers.
- The infrastructure must be modernized while leveraging the cloud as much as possible to increase the speed to market.
- Data security must be enhanced to address the increasing threat of cyberattacks and enable the safe adoption of cloud technologies.
DRS: Driving digital transformation in transportation and logistics
DRS Imaging helps transport and logistics companies automate critical document-centric processes such as invoices, bills of lading (BoL), waybills, customs clearance documentation, certificate of origin, remittance requests, etc.
- Efficient management of transport and logistics documentation with Mercury: Centralize documents and data with Mercury, our enterprise content management system that integrates structured and unstructured data from various sources into a single source of truth for all business documents.
- Automate back-office processes for higher accuracies and fewer errors: Our workflow automation solution digitizes day-to-day operational processes. Efficient workflows save time, decrease costs and enhance the overall productivity across the enterprise.
- Expedite invoicing and payment solutions: Our accounts payables automation and invoice processing solution eliminates 50+% of labor cost while accelerating the time it takes to process an invoice from weeks to days. Speed up invoice approval, never miss a payment deadline and avail of early payment discounts.
- Cloud data storage and archival solutions: We offer affordable, yet compliance-ready data storage with the highest levels of security for securing documents with personally identifiable information (PII) or transaction data. Our cloud data storage solutions offer more agility, scalability and cost-effectiveness.
- Leverage state-of-the-art machine learning technology: The Hyperscience Platform provides best-in-class Intelligent Document Processing to drive faster, more reliable downstream processing of documents with customized business rules. Human-centered automation helps you inform your customer where their goods are during transit and gets accurate invoice data to your finance department as quickly as possible, improving your cash flow and customer experience.
Seize the opportunity!
The global market for digital transformation spending in logistics is projected to reach $82.4 billion by 2027, growing at a CAGR of 8.8%. Industry stakeholders should take notice and come together to prioritize digital transformation initiatives in transport and logistics, given the potential for creating significantly higher value for the business.
Are you ready to be a part of this data revolution?
DRS Imaging offers a range of digital transformation services as a partner to enterprises in the T&L sector. Our solutions enable your business to streamline workflows and adapt operational processes to stay agile in changing market conditions and boost the productivity of your workforce. Integrated data management and real-time analytics support connected devices and smart transport systems, making your business future-ready!
Contact our automation consultants to start your journey toward digital transformation in transportation and logistics.