ATLANTA, Georgia, August 24, 2022 -- Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce, released its new Descartes Digital Rate Management™ solution and made significant enhancements to its Broker Forwarder solution suite. The suite provides logistics service providers (LSP) with a pre-integrated solution for shipment lifecycle management, customer digital interaction including quoting, booking and tracking shipments online, accounting and customs compliance. The combined technologies help LSPs to more rapidly digitize their end-to-end operations to better adapt to industry and regulatory changes and drive profitable growth.
“Many customs brokers and forwarders reached the limits of their capabilities over the last year and are rethinking how they will operate in the future,” said Ken Wood, EVP Product Management. “Descartes’ comprehensive, integrated solution suite facilitates the digital transformation required to compete in a highly evolving market.”
With a focus on rapid deployment, the new Descartes Digital Rate Management solution provides sophisticated rate management and customer engagement capabilities to mid-market forwarders. By putting a quote-to-book-to-track processes at customers’ fingertips on any Internet-enabled device, the solution gives customers full control over the booking process and instant feedback to inform decision-making.
In addition, recent enhancements to Descartes’ Broker Forwarder solution suite include:
Back-office and Accounting
- Enhanced ocean visibility to minimize detention and demurrage costs and preserve margin by automatically calculating ETAs using real-time shipment status data combined with port and terminal information;
- Digitized documents generated through machine learning (ML) that converts unstructured documents (e.g., PDF of commercial invoice) into structured EDI data. For example, with this capability, a user no longer needs to spend hours typing in a 1000-line commercial invoice and can instead convert it to EDI in minutes.
- Integration of foreign trade zone (FTZ) capabilities that allow U.S.-based shippers to lower import costs and increase supply chain velocity while ensuring compliance with customs regulations;
- New integrated Section 321 Type 86 customs entry filings that allow LSPs to expedite the import of low value goods without the payment of duties and taxes by automatically filing basic shipment details at the air and ocean manifest level with U.S. Customs and Border Protection (CBP); and
- Support for Import Control System 2 (ICS2) regulations coming into effect on March 1, 2023 that mandate the electronic transmission of data to EU customs authorities—prior to loading for cargo and arrival of mail—on all goods entering or transiting the EU.
“In Descartes’ 7th Annual Broker & Forwarder Benchmark Survey, 77% of the respondents cited that investing in technology was their top strategy for addressing the challenges they are facing today and going forward,” said Scott Sangster, General Manager, Global Logistics Service Providers at Descartes. “Our latest innovations help customs brokers and freight forwarders of all sizes around the world to better engage their customers and move shipments more securely, compliantly and profitably despite these types of disruptions in the marketplace.”
Descartes will showcase the full solution suite in its Broker, Forwarder & Customs Innovation Forum, a virtual event series taking place September 13-15, 2022. The agenda features customer success stories and topical industry presentations, including by James Moore, Program Manager, Cargo and Conveyance Security, U.S. Customs and Border Protection (CBP).
Click here for more information on Descartes’ Broker Forwarder solution suite.
Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
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This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.