This funding will enable them to continue improving their product, invest more in marketing and sales, double their team size, and expand their operations in Europe and beyond
Cargofive, a partner of Conqueror Freight Network, has successfully raised €1.8M in a funding round aimed at expediting the digital revolution within the freight forwarding industry. This funding will be instrumental in driving the transformation of freight forwarders and facilitating their transition into the digital era.
Cargofive
The freight forwarding industry forms the backbone of global trade and the world economy, underpinning the transportation of goods consumed daily across the globe. Yet, despite its immense scale, a significant portion of the process involved in moving cargo from point A to point B remains offline. Freight forwarders still rely on antiquated procedures to secure the best prices and schedules for goods transportation. This often involves sorting through spreadsheets, PDFs, a deluge of emails, and multiple websites with non-standardized data. Additionally, these manual processes are time-intensive, often requiring hours or even days to complete.
Cargofive steps into this landscape with a mission to modernize and streamline these processes. Leveraging advanced technology, the platform facilitates the quick identification of optimal routes and competitive prices, and generates customer quotations with just a few clicks. In addition, by digitizing and automating these traditionally manual processes, Cargofive effectively reduces time-intensive tasks to mere minutes.
Sebastian Cazajus CEO and Co-Founder of Cargofive said about the industry’s current landscape: “International shipping has remained largely offline until recent years, causing products to cost more and arrive later than needed. We launched Cargofive to transform this reality, aiming to simplify how freight forwarders operate, and make them quicker and more cost-effective.”
The funding round was led by venture capital firms Lince Capital and Shilling, with participation from angel investors and funds from the European Union (PRR) as part of the Nexus project. The digitalization of the logistics industry is inevitable as the market demands faster and more efficient processes than before. Visionary companies will be the only ones prepared for global challenges within the industry in the short and long term. This investment is proof that the market trusts in the success of Cargofive and its potential to position itself as a key player in the digitalization of freight forwarders’ business processes.
The seminar hosted by PTN Events brought together digital innovators in next-generation technologies
Andrea Martin -Conqueror’s FreightViewer Coordinator, took part as a speaker in the Container Shipping Conference celebrated online on 30th– 31st May, presenting the topic “The importance of a digital strategy for freight forwarders”. Conqueror’s FreightViewer Department chose this topic with the aim of exposing the need of establishing new strategies and procedures to cope with disruptive changes in Industry 4.0. Andrea Martin tackled three points: the impact of Industry 4.0 in the logistics industry, how to find a place in this new industry based on a digital strategy and the challenges this process may come with.
Container Shipping conference
During her speech, Andrea Martin highlighted the importance of developing a digital strategy within the logistics business to cope with the technological changes in the industry. In addition, she pointed out how FreightViewer helps members to implement digitization, underlining the two most important advantages the platform has – connectivity between members and the ability to be online. Lastly, Martin finalized her participation talking about all the challenges this process will come with.
The Container Shipping Conference assembled several experts to explore insightful topics on container optimization and platform collaboration, causes and impacts of port congestion, accelerating digitalization, investment scenario and solutions for improving efficiency. The conference brought together global container shipping professionals to understand and discuss international market issues and technical challenges. It enabled attendees to gain insights from the best leaders of the industry and get to know new approaches to improve their knowledge in the future tools and tactics from the sector.
In the words of Antonio Torres, CEO and Founder of Conqueror Freight Network, “We are always keen on participating in conferences which bring out the digital innovations in the industry. It helps both our members and us to be informed about the latest developments in logistics sector. Plus, it gives our member-exclusive transport management software, FreightViewer, a place in a new digitized era where establishing a digital strategy becomes no longer optional but mandatory for freight forwarders. We thank PTN Events for this invitation, it has been a pleasure for us.”
The freight forwarding industry is transforming steadily. Big Data, IoT, AI, Cloud Computing, TMS, are some of the digital trends that have serious consequences for this sector with regards to customer service, cost control, speed, and resilience. In this background logistics 4.0 has become crucial for independent freight forwarders looking forward to positioning themselves successfully in the industry.
Today we are publishing a special report on the beginnings of FreightViewer with valuable insights from Mr. Manual Cardona, the IT Manager of Conqueror Freight Network and the Developer of FreightViewer.
How an idea led to FreightViewer
Four years ago, Antonio Torres, President and Founder of Conqueror Freight Network, realized the importance of Logistics 4.0. He took into consideration the up and coming technologies that were setting new standards in the transportation and logistics industry. Technological innovation started allowing players in this industry to boost efficiency, reduce expenses, and explore new business opportunities.
Many forwarders used phone and computers to manually enter the same info into several IT systems. As pointed out by Conqueror’s IT Manager Manuel Cardona, “The logistics industry had been stuck many years in outdated customer interfaces, and age old manual processes. However, everything was changing very quickly. We noticed that freight forwarders were running the risk of getting overburdened with inefficient asset utilization, and declining response time that ultimately eroded their customer base. This motivated Antonio Torres to find a way to allow Conqueror members to take the first digital stride. This was when he got in touch with me.”
Manuel Cardona, IT Manager
Nevertheless, digitization is not just a matter of adjusting the freight forwarders’ business to the new market using ground-breaking technology. Digitization also entails the creation of a foolproof digital strategy that is sustainable in the long run. This process necessitates thorough preparation and constant engagement with clients so as to make an informed decision and invest in the right tools.
That is why it took two years of hard work and substantial private investments, for Conqueror to launch its member-exclusive Transport Management Software, FreightViewer. “It was a very exciting moment. We were doing something that was going to make history. We were offering 260 members the capability to compare competitive freight rates, immediately receive an instant quote , book online, organize and share shipping documents effortlessly and track shipment in real time all neatly organized in one place”, continues Manuel Cardona.
How FreightViewer has become a revolutionary quotation software
A TMS or Transport Management Software is a platform capable of managing and optimizing regular logistics operations. The greatest advantage of TMS is that it processes most of the shipping operations within a unique channel. In an industry where promptness is crucial, a TMS can make regular logistical operations way more efficient.
Manuel Cardona is of opinion that TMS will play a vital role in the process of digitization. Its major advantage is the simplification of tasks in a very complex business. Additionally, it improves your response time and enhances customer experience. Most importantly, it reduces costs, saves time, cuts down the steps involved in the operations, and improves security and visibility.
The evolution of FreightViewer
“Of course, once FreightViewer was launched there was a lot of work to be done. First of all, many members have been helping in the updates, changes and new features implemented in the software to make it more practical, more easy-to-use and adapt it to its work reality. Then, we had to explain members how to use it, its benefits, its upgrades… All was done thanks to Conqueror’s FreightViewer Coordinator, Andrea Martin, who has been key in the development and update of the software, as well as in the teaching and presentations process.”
FreightViewer, is a freight rate management software that not only helps with instant quote generation but also offers a host of advantages. Moreover, every year Conqueror’s IT team adds significant updates to this software thereby immensely increasing its capacity as a powerful digital tool to help with the day-to-day office chores of members.
As Mr. Cardona points out – Conqueror is constantly partnering with companies to improve the usability of this software. Conqueror aims to integrate the main co-loader’s buying tariffs on a global scale into FreightViewer. Our agreement with SHIPCO allows us to offer their LCL buying rates online through FreightViewer. Additionally, Conqueror is presently negotiating the same with Webcargonet which will enable us to upload and update more than 14 million buying airfreight rates to FreightViewer. Furthermore, we have a partnership with Onus Cargo Services, an insurance broker offering rates from different insurance companies. Therefore Conqueror members can insure their cargo directly through FreightViewer. Moreover, we are working on the process of reaching competitive insurance rates for Conqueror members.
A look at the contemporary digital freight forwarders
Eight out of the top ten carriers have created their own instant quoting platform. This proceed started in 2008 when Maersk launched Maersk Spot Booking, their online booking platform. Currently, fifty-two percent of Maersk spot cargo are booked on their online platform.
In the last couple of years digital freight forwarders like Freighthub, Flexport and Freightos came into the picture. This only shows the importance more than ever to become a digital freight forwarder to stay ahead of the competition. According to a Freightos report just 25% of the world’s top 20 logistics companies are providing LCL online quotes. It takes customers a minimum of two days to receive a freight quotation. This implies that there is a dire lack of transparency in operations.
“This is the reason why we have been working hard on FreightViewer- a platform with upgraded capabilities, adapted to the freight forwarders realities and with an insuperable benefit over other software. Unlike the rest, Conqueror is a network which boasts of 260 members in 135 countries around the world. This implies we can have rates from almost every corner of the world.” adds Mr. Cardona.
The importance of a change of mentality in the digital transformation in this sector
Even after all the digitization efforts in this for from companies like Flexport or Freightos funded by millions of dollars or top logistics multinationals such as Twill or KN Freightnet, a large percentage of freight forwarders continue to miss out in the race of digitization. To quote Mr. Cardona, “One of the preconditions of digitization is considerable investments in an IT team and training of your employees. However, small and mid-sized companies don’t always have the necessary resources to keep pace with the needs of the hour. This is why Conqueror provides the agents with a very useful digital platform that allows them to initiate this process of digital transformation without investing a dime.” FreightViewer will allow Conqueror members to be at the cutting edge of technology
The first and foremost thing that independent freight forwarders need to do is boost the level of client engagement. For example, tools like Conqueror’s TMS FreightViewer will provide you with the required capacity to meet your customers’ expectations. The technological impact on the freight forwarding industry in the last few years has been considerable. Most of the top players in this sector are investing in enhancing their services by implementing a well-rounded digital strategy.
FreightViewer allows forwarders to effectively manage rates, put together personalized quotations, and send them instantly or save them in PDF. They can also follow up with their clients and customize their websites. Mr. Cardona sums up, “This intuitive platform not only helps with instant quote generation but also allows for better customer service and helps with customer retention. Moreover, every year Conqueror’s IT team adds significant updates to this platform thereby immensely increasing its capacity as a powerful digital tool to help members with their everyday office chores.”
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