Release Date: 19 January 2010
Release ID: 4487
Hyderabad, 19th January 2010: Four Soft Limited, India (NSE: "FOURSOFT", BSE 532521), a global leader offering software solutions for transportation and logistics, today announced that it is bringing top players of the logistics industry on a single platform to form a strategic initiative - FFIFA(Freight Forwarding Industry & Four Soft Alliance). The objective of FFIFA is to provide a forum for the exchange of ideas where the resultant “Industry best practices” will save the industry time, energy and money in providing better services to its customers.
Freight forwarding & Logistics industry over the years has been struggling with lack of unified and standard business processes/ metrics resulting in very high operating costs and making them less competitive. FFIFA members will collaborate to help the evolution of unified and standard business practices across multiple tiers and geographies. Major benefits include access to all information, standards and metrics, better understanding of changing business dynamics and understanding of tangible and intangible benefits of IT in Logistics.
DHL, Geodis Wilson, CEVA, Agility, FedEx and Continental Group representing six of the largest logistic players in the world, have come together for the first time to drive efficiencies in the logistic software deployment’. The members will collaborate and will collectively suggest the adoption of best practices across the industry. This process will not only help in bringing down their operating expenditure but would also provide a platform for the largest logistic companies to work together towards the betterment of the logistics industry.
Kieren Ring, CEO, Global Institute of Logistics, commented,” I am thrilled to be part of this Global initiative from Four soft. I have been observing the growth of four soft from the past few years and they have the acquaintance with the global logistics players which makes them ideal partner to hold this initiative. I am sure this will help the Logistics & Transportation industry to achieve next level of maturity in their business processes.”
Palem Srikanth, Chairman, Four soft Limited,” Logistics and transportation industry has been facing serious problems due to lack of standardized business processes. It has made them less competitive and led to lack of control on their IT budgets. We believe this is the right time for leading players of the industry to come together and adopt a collaborative approach to the common industry problems. Four soft is proud to be a part of this consortium as we are rightly equipped to provide valuable solutions to our customers.
Rajshekhar Roy, CEO, Four Soft Limited, ” FFIFA will kick start much needed collaboration and defining common industry standards, resulting in lowering the communication costs among various players and using IT as a tool of competitive advantage. Four soft has established market leadership position in the 3PL and the transportation segments and this association will provide a great opportunity to work with industry leaders which enables us to better serve our customer base with enterprise-class software solutions”
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