DIGITALLY DESIGNED SOLUTIONS TO OFFLOAD END-TO-END LOGISTIC GLITCHES
"Enter if you plan to stay long in this game and always be ready to unlearn, have an innovative mind-set. It's a red ocean and the only way to succeed is to bring the change and deliver quality work",
Swiftly undergoing an economic growth augmentation, the world is buzzing for the freight forwarding industry catching the pace like fire. Moreover, regardless of how unnerving it comes across to someone unfamiliar to this sector, it is quite a booming one.
Hence, while the market is booming, the dire need for an adequately managed freight-forwarding network is necessary. Boxnbiz Technologies Pvt. Ltd. is one such efficacious digital freight forwarding company for modern age shipping.
Based in Bangalore, India, from the time of its inception in 2016, the company has engaged in logistics and special expertise in supply chain management using its unique logistics management system, specially designed for importers & exporters. With another operational office in Singapore, it provides need-based solutions for airfreight, ocean freight, road freight, customs brokerage along with technological solutions for BCO's & SME's.
THE MINDS THAT MADE IT HAPPEN
Biplob Barik, CEO –Co-Founder, with more than 5 years of experience in the industry of logistics and shipping, he is an MBA from the Sri Balaji Society, Pune. Before Boxnbiz happened, Biplob was professionally associated with Allcargo (one of the largest NVOCC in the world), Hindustan cargo (Forwarding division of ACL), and Kansai Nerolac Paints.
Ricky Goyal, COO – Co-Founder, a successful engineer in electronics and an MBA with Finance, he holds a thorough knowledge of the industry trends from his past professional experiences of working with Oracle and H&R Block. Apart from being actively involved in the business of freight and logistics, he also manages the transportation firm and its associated needs back home in Gujarat.
In a conversation with The CEO Magazine, the Co-Founders talk about the business plans, corporate culture, innovative ideas, start-ups and more,
The CEO: What nature of business product and solutions do you offer?
Co-Founders: Boxnbiz is a digital freight forwarder & customs broker company with a mission to fix broken user experience in the global shipping industry. We combine people, infrastructure, & technology to deliver excellent shipping experience. Right from freight quote discovery, booking, communication, reporting to payments and more is manageable from an intuitive cloud software. We offer Import/Export services for Air/LCL/FCL/CHA and for freight forwarders & carriers we have SaaS solution to manage logistics operations.
The CEO: What gives you an edge?
Co-Founders: The key differentiator is how we combine people, Infrastructure, & technology to deliver smooth & predictable shipping experience. We are beyond a price discovery platform. Our intuitive cloud-based solution helps in booking, collaboration, reporting to payments and many more. We have a Transaction (margin) based business model for importers/exporters & subscription fee for our SaaS solution users.
The CEO: What nature of clients do you serve?
Co-Founders: We have a combination of clients from Automotive, agro, machinery, Electric mobility, Pharma and more. Today we work with India's best EV companies handling their end-to-end supply chain.
The CEO: What is the business problem the company hopes to solve with its solutions and offerings?
Co-Founders: The container shipping industry is almost 60 years old now but processes are still manual, it takes more than 3 days to find a quote, more than 75 odd documents required to move a single consignment end to end, shippers (Importers/exporters ) lose $7bn + annually just because of bad decision and delays . It has been always challenging an SME to scale faster just because of not having a smooth logistics solution. Hence, they spend 60% of the time in managing the entire international logistics.
The worst part is that the entire chain has so many parties involved and not connected into a single chain and this makes operation more complex and opaque. We believe the problem of transparency, agility can solve through technology, and that is where we introduced Boxnbiz digital forwarding solution.
The CEO: What does innovation mean to you and your company?
Co-Founders: We believe innovation comes from within; it is a way to see problems differently and building a new solution to the problem. Most organizations do incremental changes in their existing problem and consider it as innovation but we believe a truly innovative company solves problems with a new approach.
In a start-up scenario, we face challenges every day but for us converting challenges into opportunity are what we strive for, Innovation is one of the core pillars in our company's culture, and every one of us believes in it. Everyone in our team has the freedom to add their input and we take their feedback very seriously as they are the people who fight on the field.
The CEO: What are the innovations that your company has brought into the industry?
Co-Founders: The operating system of its kind: Logistics is manageable over emails, phones, & faxes over the years and involves multiple parties to operate. In such complexity, processes are still manual. Boxnbiz has managed to build an operating system layered with freight services to manage the complexity in trade. The Domino effect philosophy: The process & workflow constructed in a way that every information received or sent has a definite effect on other actions, this automatically makes actions dependent on each other and enables users to get better visibility.
The CEO: Is innovation the only driving force behind a start-up?
Co-Founders: Innovation cannot be the only driving force for any startup but it is absolutely an important factor for companies to become global leaders. Team, time, and execution are a few other aspects that also come into being.
The CEO: What technologies, business models, and trends will drive the biggest changes in your industry?
Co-Founders: A few of them like Digitization of the supply chain, Urbanization of trucking, machining of warehouses, augmented reality & wearable's, SaaS solutions for logistics companies, a marketplace for trade are few of the most promising things in near future in logistics space. Logistics is an old and slow-moving industry, it lacks basic digitization presently, but for sure deep tech like ML, AI blockchain has huge scope in changing the industry how it looks today.
The CEO: What accreditations have you bagged?
Co-Founders: Multiple media firms have covered us: your story, Loadstar, the voice, CIO reviews etc., we accelerated by PortXL – world 1st port & maritime accelerator and we Opened an office in Singapore 2019.
The CEO: What is set in the future for the company?
Co-Founders: By the end of the year, we plan to open at three new locations: Chennai, Hyderabad, Mumbai, and launch pilot project for NVOCC's & freight agents by end of Q2. We also Plan to scale revenue 3.5X by end of the year and Close pre-series around by end of Q3. We are looking forward to starting pilots in Singapore; by next year and our operation in SG.
Boxnbiz is working efficiently on the lines of premium quality work, personal attention to details, and supreme priority to each project taken. The association of their esteemed clients is a proof that they abide by the assurance of best services provided to the customers.