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Software & Systems January 22, 2018

FarEye To Benefit 177.8 Million Online Shoppers in USA With Its Parcel Shop Technology - 'Drop&Pick'

FarEye To Benefit 177.8 Million Online Shoppers in USA With Its Parcel Shop Technology - 'Drop&Pick'


Key Highlights:

Online consumers will grow to 1.623 billion in 2018, according to the United Nations Conference on Trade and Development and eCommerce Logistics companies have to be ready for the huge business opportunity.
Parcel shops to book, manage, track and deliver to the end customer - making eCommerce convenient for the seller and consumer. Mobile Application enables already established local stores to become pickup and drop points for parcels - saving time, reducing cost and increasing revenue.
FarEye's technology is enabling paperless delivery of parcels to companies and homes alike, across the world this holiday season.
FarEye's technology is aimed towards major enterprises and logistics firms globally - sees strong enterprise demand.
Technology has been designed to meet the huge demand for fast parcel facilitation in the logistics sector, as well as for end users - particularly with the growth of eCommerce and online shopping, providing major benefits to e-tailers, and SMEs who demand fast and convenient delivery services.


New York, 22 January 2018: FarEye, a digital logistics platform, is pleased to announce the successful introduction of its new parcel shop technology - 'Drop&Pick'. Launched in January 2017 the technology is already being incorporated by various large businesses like DHL, DTDC, First Flight and many others to facilitate paperless, high speed and secure dispatch/delivery of parcels through its parcel shop network.

FarEye's 'Drop&Pick'- aimed at major enterprises and logistics firms globally is built to fulfill the need for fast and convenient dispatch/delivery of parcels with minimal cost of infrastructure. Its successful roll out is now revolutionizing traditional dispatch/delivery processes into efficient and customer-centric approaches.

'Drop&Pick' follows a key-three phased - book, manage and deliver process, which is based around a simple to use and intuitive mobile application. The app enables any parcel shop to quickly register a parcel, and the sender's details (including capturing handwritten information), followed by scanning the shipment and adding recipient name, delivery details and parcel size. It then calculates shipping fees which the sender can pay in multiple ways - prepaid, wallets, cash or card. The parcel shop personnel can also book multiple parcels under one sender ID. In the back end - data entry processes convert images to actual data. The parcel is then handed over to the courier and electronic proof of transfer is collected, who then delivers to the end customer and once again, receives electronic proof of delivery from the customer.
This technology while enables quick and seamless dispatch and receiving of parcels - has two additional benefits:

SME Ecosystem development - The technology is providing significant benefits for small and medium-sized enterprises (SMEs) and micro-SMEs who want to sell their products online but cannot build an in-house delivery infrastructure. Their hence need fast and convenient delivery services for their customers. The sellers may easily deposit their parcels at selected parcel shops or they can also raise a parcel booking request online (and prepay it). It generates a 'parcel label' which then acts as a unique order ID.

Reduced carbon emissions: Door to door delivery can waste a lot of time and fuel in finding home addresses, while if parcel is dropped at a network shop, it saves resources. The customer can later collect the parcel at his or her convenience.

This technology is also targeted towards logistics businesses offering franchise models. While this model has been available since a long time to book parcels, the need now is to add a layer of visibility and efficiency to the processes to help businesses make real-time data backed decisions and in parallel empower the customers with easy deliveries, event alerts & notifications. The customer gets an option of getting parcel delivered to a nearby 'parcel shop', both -during the time of order placement as well as before the actual delivery.

Kushal Nahata, Co-Founder and CEO, FarEye says, "The reaction to FarEye's parcel shop technology - 'Drop&Pick' has been exceptional. The product is built to enable fast & convenient delivery/dispatch of parcels which provides logistics companies innovative and value-added services, thus increasing their revenue streams while enhancing their customers' experience."

Kushal further adds, "There is a sharp increase in online transactions and both sellers & buyers require smart and efficient dispatch & delivery of goods as quickly as possible. The global ecommerce market is about 2 trillion USD and FarEye with its technology excellence is integrating into the systems of major logistics service providers, helping them capture this market. Our Mobile Application for Parcel Shop Delivery is a key aspect of the technology, which is being used by many of our clients including DHL. We expect to see the use of this technology across many key markets in 2018."

About FarEye
FarEye is a carrier agnostic SaaS platform that digitalizes logistics by integrating and optimizing business processes and adding a predictability layer to make them more efficient. FarEye has designed the world's first BPM Engine for the modern-age logistics function, enabling companies to become agile and reduce their go-to-market time.
The solution uses a blend of mobility and geo-intelligence to provide real-time multi-enterprise visibility of logistics function.
FarEye empowers the logistics & distribution wings of over 75 large organizations across 15 countries globally. With a growth rate of over 360%, FarEye aims to break down operational silos and enables multi-enterprise collaboration thus helping organizations to champion operational efficiency and customer experience. FarEye executes more than 500 million shipments annually.

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