CS Global LTL Services Ltd. wins Technology Excellence Awards for Digital-Shipping
CS Global LTL Services runs a freight forwarding business out of a cloud platform that enables shippers to quote, book and manage their door-to-door less-than-container-load (LCL) shipments online.
Hong Kong Business honoured Asia's leading companies in technology innovation during the inaugural Technology Excellence Awards (TEA) ceremony held on February 27.
The winners were outstanding companies who have made exceptional contributions through the most innovative and unique IT initiatives and solutions that enhanced their company's business in Hong Kong.
Tech companies eligible for the recognition were those that pioneered ground-breaking IT products and solutions as well as tech firms with the most innovative technology initiatives that made an impact to their businesses.
CS Global LTL Services Ltd. bagged the Technology Excellence Awards for Digital-Shipping.
Launched in May 2018, the Global LTL project aims to digitalise the quotation and booking processes for door-to-door less-than-container-load (LCL) shipping services using cloud technologies. Driven by the vision of becoming a “man-less” freight forwarder, the Cargo Services Group piloted the digital transformation in the LCL business through the creation of an online booking platform (https://www.csglobal-ltl.com).
To move LCL cargo, the traditional practice has always been that upon receiving such requests, the forwarder would reach out to our local offices by email, gather costing data and subsequently package everything into a service and return a sell-rate. Another few days are required to collect the required documents from the shipper. With this cloud platform, CS Global LTL Services is able to compress quotation time to just seconds, allow shipper to place their booking online and track their cargo real-time.
The core of the innovation lies in the creation of the rate engine that enables the company to return instant quote against a wide range of service permutations requested by customers. The entry point to the “digital shipping” concept was to perfect the quotation and pricing capabilities using cloud technologies.
From the outset, this digital platform is expected to quote anywhere-to-anywhere services. This lead to the introduction of a hierarchy of matrices that profiles buy-rates categorised by agent, trade lane, mode of transport, geography, trading terms and service offerings. The database works in tandem with an algorithm that is designed to enable the company to deploy different pricing strategies in response to different demand scenarios in different trade lanes. Because of this technology, the request responding capability has been raised considerably up to 500 quotes a day. Simultaneously, the platform opens up the possibility to potential partnerships with B2B portals, eCommerce platforms and other online marketplaces where international trade deals are negotiated and closed nowadays.
The Technology Excellence Awards (TEA), presented by Hong Kong Business, was held on February 27 at the Conrad Hong Kong.
This year's nominations were judged by a panel consisting of Bong Chan, Southern Region Leader (China TMT Industry) of Deloitte China, Jason Yau, Partner (Technology and Management Consulting) of RSM Hong Kong, Douglas Kwan, Partner (Assurance and Advisory Services) of SHINEWING (HK) CPA Limited, John Poon, Head of Accounting and Outsourcing Solutions of Mazars Hong Kong, and Jonathan Chu, Partner of Stephenson Harwood.
If you would like to join the 2020 awards and be awarded as one of the region's top tech companies, please email Julie Anne Nunez at firstname.lastname@example.org or contact +65 3158 1386 ext. 221.