Situation

A third-party logistics company for a major retail store was experiencing over $60m in claims each year.

• Paying an average of $5m per month in claims and losses
• Experiencing 9% theft and loss ratio, which is double the industry average
  

Opportunity

Venatrust performed a pilot program to test our gate exit solution, which provides real-time validation and timestamps for any shipment exiting the facility.

• Enables security personnel to automatically validate loads being shipped for IOD, insurance, and invoicing purposes
  

Response

Venatrust created a digital record of any tractor trailer exiting the facility through the security gate, automating the proof process.

• Company now has a way to automate outbound load tracking and to obtain digital proof of shipments.
  

Projected Results

96%
of all claims can be addressed with immutable data.

$4.8m
per month in claims can now be countered with data