AI Revolutionizes 3PL: Saves Time, Gains Margin
The shipping and supply chain industry, a linchpin of global commerce, has long wrestled with outdated and error-prone data handling processes. Traditionally, businesses have relied on tedious manual processes, accepting them as a necessary cost of operations. The boom of AI has opened the door to innovate workflows that are custom-tailored fixes.
Bear Cognition identified an opportunity to streamline a cumbersome process for one of their 3PL clients using AI. Their sales teams were spending five hours each week analyzing 100-page competitor invoices to calculate potential savings or the best margins, a task both tedious and error-prone due to missed fees and the lack of an effective cross-check. To address this, Bear Cognition's team developed a targeted solution to optimize this process.
Enter the scene-changer: Bear Cognition’s Revenue Optimization System (ROS). It was not just an upgrade; it was a complete overhaul of how the sales team approached shipment data analysis and pricing strategies.
At its core, ROS epitomizes efficiency and precision. Utilizing a state-of-the-art Optical Character Recognition (OCR) AI model, ROS is trained to transform static shipment invoices into dynamic, actionable insights.
ROS doesn’t just enhance data ingestion – the model instantly analyzes the invoice data and shows the user the best shipping methods. The user can choose to either maximize margins, customer savings, or a combination of the two.
The 3PL client implemented ROS in their sales processes with remarkable results. Sales representatives, who previously spent 4-5 hours processing competitor PDF invoices, now complete the task in just 15 minutes, a 92% reduction in time per representative per week. This gave the sales reps more bandwidth to focus on customer acquisition. Equally impressive, ROS has helped them achieve an additional 5-7 margin points by pinpointing the best pricing options. With the tool, less time and effort yield more revenue.
ROS arms clients with both internal and customer-facing dashboards that highlight savings in a clear manner. These interactive dashboards extend beyond client interaction, offering deep dives into cost savings, operational trends, and performance metrics. This isn’t just a tool; it’s a strategic ally, empowering clients to make informed decisions swiftly.
Mike Mullen, Bear Cognition’s COO, emphasizes the impact of ROS, paired with the company’s Software with a Service (SwaS™) model. “It’s been a game-changer for our clients,” states Mullen. “Our approach is about partnership, we use our tech to fit your problem, not have your problem fit the tech.”
The ROS tool by Bear Cognition is just one solution that was designed for a 3PL client with a specific pain point. The Bear Cognition team of Data Professionals are constantly solving for client pain points and designing solutions that provide instant relief. Embracing AI and machine learning is not just an option but a necessity, propelling the logistics sector into a new era of unprecedented efficiency and transformative potential.
Bear Cognition distinguishes itself with 25+ years of direct involvement and innovation within the supply chain and logistics sphere. Our expertise is not just in analytics, but in understanding the intricate dance of global logistics networks. We are a high-touch business intelligence, data analytics and management platform and solutions company. Our SwaS™ (Software with a Service) model brings proprietary tools together with our Data Lab to help you gain an unfair advantage.
Contact us to discover how AI and ML can optimize your revenue.
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