One in Three Logistics Firms Loses $250K Annually Due to Poor Integration
Cleo releases “sneak peek” of annual Logistics survey findings in conjunction with FreightWaves Summit participation
ROCKFORD, Ill., FreightWaves North American Supply Chain Summit -- December 14, 2020 – If you listen to Frank Kenney, director of market strategy for Cleo, you might start to believe there’s nothing but upsides for logistics companies in 2021, as they finally take steps to resolve their supply chain integration challenges through an “ecosystem integration” approach.
And you’d be right to believe him. Mr. Kenney is among the speakers at tomorrow’s FreightWaves North American Supply Chain Summit, a virtual conference event for decision-makers at transportation and logistics companies. Kenney will participate in the “What the Truck?” panel discussion on Tuesday, December 15 at 1:40pm EST alongside Michael Vincent of Freightwaves, Shannon Currier of St. Christopher Truckers Relief Fund, and Drew McElroy of Transfix.
For years now, Mr. Kenney and his peers at Cleo have been educating the world’s logistics companies (Cleo has over 500 of them as customers, all types and sizes, running their business on the Cleo Integration Cloud software (CIC) platform) on how to reframe the supply chain integration challenge and get ahead of customer expectations.
“All along we’ve told our customers and prospects, ‘You’ll need real-time end-to-end visibility. You’ll need a way to connect on-prem to cloud. API isn’t replacing EDI, they’re complementary and you’ll need a single platform that can do both. You need the agility to turn on a dime. And you’ll want the choice to either do it yourself, get it as a managed service, or figure out some combination of the two,’” Kenney explained. “It’s all about you being in control of the customer experience. It’s all about optimizing your business ecosystem and creating value through integration.”
Enter a pesky global pandemic in 2020, with its residual disruptions to virtually every supply chain on earth, and suddenly now more companies are tuning in to Cleo’s ecosystem integration story. Today’s logistics companies know what their integration problems are, and they know they need to do something about it, Mr. Kenney says. But it really wasn’t until the pandemic hit that they began to accept that the traditional approaches they’ve long relied on just won’t work anymore.
Preliminary Logistics Survey Findings Released
Results just in from a soon-to-be-published survey1, developed in partnership with Dimensional Research, of 200 logistics industry experts reveal that 97% of logistics businesses are actively trying to mitigate supply chain disruptions negatively impacting their business. And the topsy-turvy socio-economic climate of 2020 has only underscored this urgency, as eCommerce irreversibly accelerates. The cultural shift of employees Working from Home topped the list of conundrums survey-takers identified, with 51% of respondents citing this as the #1 supply chain disruption impacting their business in 2020, followed by manufacturing slowdowns (45%) and restrictions in international trade (33%).
Many logistics companies felt the pain in their pocketbooks. More than one-third (34%) of logistics companies say they are losing over $250,000 annually due to poor integration. Nine percent say they are losing $1,000,000 or more because of integration technology problems. Over half (51%) have increased their technology budgets to address supply chain shortcomings surfaced by COVID-19. What problems are the biggest? According to the study, 34% say they rely too much on manual integration processes, and also suffer from slow decision making.
Cleo Integration Cloud for Logistics
To get ready for 2021 and beyond, logistics businesses should invest more in cloud integration technology and move aggressively to automate key end-to-end business processes driving revenue through their digital ecosystems. Traditional B2B integration technology is broken, siloed, and outdated for today's logistics market environment. So, what’s the fix? Cleo Integration Cloud for Logistics combines API, EDI, and file-based integration on a single, cloud platform enabling end-to-end integration and real-time visibility for any B2B transaction. With CIC, organizations can expect to improve agility, operational efficiency, and customer experiences.
FreightWaves North American Supply Chain Summit
Join Cleo and other supply chain experts on Tuesday, December 15, as we discuss how to navigate the supply chains of the future and how it relates to your integration strategy. To view the full agenda and to register, click here. You'll be able to interact with us in many ways during event:
○ Visit our virtual booth: Come say hi and check out some of our logistics-focused content, like our new Integration Control whitepaper.
○ Watch a demo: At 9:55am EST, our very own Principal Solutions Architect, Jacob Olson, will explain why our platform is purpose-made for the logistics industry in a Cleo Integration Cloud demo.
○ View the podcast: Watch a live interview with Cleo’s Director of Market Strategy, Frank Kenney, on FreightWaves' What the Truck?!? podcast at 1:40pm EST.
For additional information, talk to Cleo.
1 Survey conducted November 2020 by Dimensional Research and sponsored by Cleo will be published in Q1 2021.
About Cleo Integration Cloud
Cleo Integration Cloud (CIC) is a cloud-based integration platform, purpose-built to design, build, operate and optimize critical ecosystem integration processes. The CIC platform brings end-to-end integration visibility across API, EDI and non-EDI integrations that gives technical and business users the confidence to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. On the platform, businesses have the choice of self-service, managed services, or a blended approach – ensuring complete flexibility and control over their B2B integration strategy.
Cleo is an ecosystem integration software company focused on business outcomes, ensuring each customer’s potential is realized by delivering solutions that make it easy to discover and create value through the movement and integration of B2B enterprise data. Cleo gives customers strategic, “outside-in” visibility into the critical end-to-end business flows happening across their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions empower teams to drive business agility, accelerate onboarding, facilitate modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.