Industry Leaders Discuss the Impact of Emerging Technologies on the Freight Market
CHICAGO – April 22, 2016 – project44, a progressive Chicago-based technology company that provides the freight industry standard cloud-based APIs (Application Programming Interfaces), showcased their industry insight and leadership on the most recent Transportation Expert Call Series hosted by KeyBanc Capital Markets Inc. (KBCM).
Tommy Barnes, President of project44, along with Todd Fowler, Director, Transportation and Logistics for KBCM, discussed the expected impact of emerging technologies on various subsectors of the transportation market. The hour-long conference call was framed up by three key challenges drastically hindering today’s $740B+ domestic freight industry:
- Challenge 1: Less than adequate ROIC is hurting asset-based trucking,
- Challenge 2: Transportation is not viewed as a revenue enhancement tool,
- Challenge 3: Rigid communication and data exchange systems are still widely used across the industry.
“The state of the industry is forcing companies to work smarter; with that some key players are adopting startup solutions that leverage technology to achieve less expensive, more data-driven, and faster-to-deploy solutions,” said Tommy Barnes, President of project44. “However, not all emerging technologies are well positioned to advance transportation. For example, the Uber-for-Trucking model, while popular in the mainstream market, fails to adequately address the complexities of the freight industry and overly commoditizes the value-base of transportation.”
In an industry typically hesitant towards innovation, Barnes focused on addressing three specific, actionable opportunities for technology to have an immediate impact on the most pressing transportation challenges. Technologies that enhance supply chain processes, meaning solutions that better manage supply and demand, leverage data into proactive insights, and streamline connectivity, were highlighted as having the largest potential influence.
“We believe companies that are positioned to combine technology with existing freight networks may create a wider, competitive moat,” mentioned Fowler. “This call shed light on which emerging transportation technologies are most likely to be successful and why.”
A replay of the call can be accessed through April 24, 2016 by dialing (888)-203-1112, and using the passcode 7548148. For a copy of the presentation, please email Ally Lynch at firstname.lastname@example.org.
project44 is a forward-thinking technology company that provides standardized, secure web service API integrations that allow shippers and 3PLs to connect to carriers in real-time – eliminating the use of EDI and instantly creating a better experience for customers. For more information, visit project44.com or follow along on Twitter, @freightpipes
About KeyBanc Capital Markets
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