Technologies Used
The client is a global leader in Spend Management. They leverage industry-leading cloud-based applications and deep domain expertise to transform the logistics freight and parcel audits business. Their commitment lies in assisting customers in better managing and controlling their logistics spending and driving enterprise-wide efficiency. With an expansive global presence encompassing North America, Latin America, Asia, and Europe, they consistently deliver data-based visibility and insights, resulting in substantial savings and enhanced control over transportation spending for shippers of all sizes
The client needed help identifying logistics and shipment costs across various regions, seasonal variations, and transportation modes. The existing approach, which relied heavily on experience-based decisions or a preferred vendor approach, proved inefficient. They could not assess vendor performance and predict delivery outcomes effectively. This challenge prompted the client to think about how to reduce shipping costs and to seek a solution that would enable them to make data-driven decisions, evaluate vendor performance, and enhance overall operational effectiveness in their logistics operations
Challenges
Absence of accurate and timely delivery receipts led to delays and inefficiencies in financial reporting
Pricing decisions based on historical data, experience, and competition resulted in suboptimal cost allocations
Limited ability to determine optimal pricing for specific goods hampered cost optimization and hindered decision-making
Solution
Developed an AI/ML-powered pricing discovery engine using 23+ parameters and ASNs for shipment pricing prediction
The engine provided real-time cost visibility at the time of shipment booking, enabling proactive cost management
The engine reduced delays in closing accounting periods, avoiding price discrepancies and increased cost savings with a price prediction ai
Challenges
Absence of accurate and timely delivery receipts led to delays and inefficiencies in financial reporting
Pricing decisions based on historical data, experience, and competition resulted in suboptimal cost allocations
Limited ability to determine optimal pricing for specific goods hampered cost optimization and hindered decision-making
Solution
Developed an AI/ML-powered pricing discovery engine using 23+ parameters and ASNs for shipment pricing prediction
The engine provided real-time cost visibility at the time of shipment booking, enabling proactive cost management
The engine reduced delays in closing accounting periods, avoiding price discrepancies and increased cost savings with a price prediction ai
Business Impact
Enhanced Cost Management
Improved cost management capability, allowed for more accurate financial planning and resource allocation by providing better visibility into costs during shipment booking
Streamlined Financial Processes
Reduced delays in account closure by streamlining financial processes by implementing AI in shipping
Optimized Cost Structure
Achieved greater cost-effectiveness by avoiding price discrepancies and improved route reliability, thanks to AI in shipping
Why Kanerika?
Kanerika is a premier provider of data-driven software solutions and services that facilitate digital transformation. Specializing in Data Integration, Analytics, AI/ML, and Cloud Management, Kanerika prides itself on its expertise in employing cutting-edge technologies and agile methodologies to ensure exceptional outcomes. With a proven track record across various industries, Kanerika maintains rigorous quality standards, backed by ISO 27701 certification, SOC II, and GDPR compliance. As a distinguished partner of Microsoft, AWS, and Informatica, Kanerika’s commitment to innovation and strong partnerships positions it at the forefront of empowering businesses for their growth.
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