3PL Warehouse Distributor can defend against 96% of claims with immutable data
Case Study
3PL Warehouse Distributor can defend against 96% of claims with immutable data
Industry Logistics
Annual Revenue $660 Million
Ownership Public
Industry Logistics
Annual Revenue $660 Million
Ownership Public
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
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 now be addressed with immutable data
$4.8m
in claims per month can now be countered with data
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
Would you like to experience similar results in your facility?
