Parsippany: The shipping business is at a tipping point in the adoption of electronification and digitization, argues John Fay, ceo of INTTRA in today’s Maritime CEO interview. He notes that about half of all bookings and shipping instructions are processed electronically.
“At INTTRA, we see significant demand from members of our network to increase electronification as they pursue cost savings, growth opportunities and improved data quality, which enables better decision-making,” says Fay.
INTTRA experienced record volumes for booking and shipping instructions on its core platform in both June and July.
“There is a secular trend in the industry toward automating and electronifying that we think will continue for years to come,” Fay predicts.
The INTTRA boss says that increasingly, the use of data is driving differentiation across the board.
“I see two types of market participants,” he says. “Those who have invested heavily in technology, and those who wish they had.”
Strong data facilitates sound planning, Fay reckons, citing inventory management as an example. A fully automated carrier with accurate, integrated data might sail significantly closer to capacity on a regular basis than a carrier that does more of their business manually, he reckons.
“Especially in this environment, better data and decisions is the difference between profit and loss and a growing or shrinking customer base,” Fay warns.