- Freight Technologies Inc. (Fr8Tech), a company developing solutions to optimize and automate the supply chain process, believes that technology can help streamline operations, improve safety, and increase efficiency within the fleet-tracking industry
- This outlook has informed the innovation and overall improvement of its fleet management offering, guaranteed improved customer service, and reduced operational costs, and contributing to the company’s growth
- Fr8Tech’s management is optimistic that as more people get to know and appreciate fleet technology, the company will continue to experience a steady and sustained growth in demand for its offerings, ultimately defining it as the go-to brand and platform for B2B cross-border shipping in the USMCA region
Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a technology company developing solutions to optimize and automate the supply chain process, offering a platform for B2B cross-border shipping in the USMCA region, is constantly pushing for more accessibility and affordability of fleet tracking technology. As a firm believer that technology can significantly help streamline operations, improve safety, and increase efficiency within the fleet tracking industry, Fr8Tech is constantly innovating and improving its existing products and services. This move has helped it differentiate itself in an industry that commands over $385 billion in revenue between the U.S. and Mexico alone and $732 billion domestically in the U.S. (https://ibn.fm/VSqwc).
Fr8Tech’s robust and innovative fleet management offering integrates GPS tracking, telematics, and automated logging for improved safety, reduced operational costs, improved efficiency, and overall improved customer service. In addition, structuring the entire product has made Fr8Tech’s onboarding process seamless, allowing carriers to save time and money, focusing on booking loads and growing their business, as opposed to fulfilling administrative requirements (https://ibn.fm/q46xA). Such welcome additions stem from the close relationship that the company has with its consumers and how well it takes feedback and leverages it to improve its existing product and service offering.
This approach has been integral to the company’s growth, attributed to the company’s expanding list of customers and partners, as evidenced most recently by the alliance with MAJOBA Logistics, a leading transportation company in Mexico.
The alliance sees an increase in the volume of trucks available for Fr8Fleet dedicated services, a move which Fr8Tech is optimistic will guarantee a more efficient and cost-effective transportation service to its customers.
“We are very happy to partner with Majoba Logistics,” noted Javier Selgas, Fr8App’s CEO. “Their commitment to providing high-quality and dedicated logistics services aligns perfectly with our mission to revolutionize the transportation industry. Together, we will be able to provide an even wider range of options and services to our customers,” he added (https://ibn.fm/E7KAa).
Through strategic expansion moves such as these, Fr8Tech is making advanced tracking technology more available and affordable to end users. As a result, it is opening up the benefits of this technology to millions of potential clients, ultimately defining modern-day cross-border shipping, not just within the USMCA region but globally as well.
Fr8Tech projects that in 2023, it will hit revenues between $36 million and $42 million, compared to preliminary 2022 revenue of approximately $26 to 27 million, based upon early returns from new product offerings. Its management is optimistic that the company’s cross-border and domestic full truckload (“FTL”) products and services will achieve continued growth over the next 12-24 months, opening new prospects and growth opportunities for the business.
As more people get to know and appreciate fleet technology, Fr8Tech is expected to continue steady and sustained expansion in demand for its technology. This, coupled with the company’s constant innovation and improvement of its existing products and services, will continue to set Fr8Tech apart from its peers, defining it as the go-to brand and platform for B2B cross-border shipping in the USMCA region.
For more information, visit the company’s website at www.Fr8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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