01:28:57 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Descartes Systems Group Inc (The)
Symbol DSG
Shares Issued 85,109,249
Close 2024-04-10 C$ 121.61
Market Cap C$ 10,350,135,771
Recent Sedar Documents

Descartes offers Descartes MacroPoint FraudGuard

2024-04-10 18:07 ET - News Release

Mr. Dan Cicerchi reports

NEW DESCARTES MACROPOINT(TM) CAPABILITIES HELP COMBAT FRAUD IN TRANSPORTATION AND LOGISTICS

The Descartes Systems Group Inc. has made Descartes MacroPoint FraudGuard available to help freight brokers, third party logistics companies (3PLs) and shippers identify and prevent fraudulent activities related to carrier information, load tracking and shipment status. The new capabilities are now included as part of the subscription for the Descartes MacroPoint service.

"Fraud is a serious and growing problem in the industry. The costs associated with, for example, stolen loads, double brokering and mode switching, can be significant. Worse, it's extremely challenging for stakeholders to find effective and timely resolutions when incidents do occur," said Omer Ramusevic, director of business development, Swick Logistics. "With Descartes MacroPoint, we will have a new way to automate the early detection of potential fraud, which will be crucial to preventing disruptions for our customers, mitigating financial risk and building trust with our shipper and carrier communities."

Descartes MacroPoint FraudGuard uses advanced technology to pro-actively assess and flag certain potential instances of carrier or driver fraud by evaluating billions of data points on freight location and status for accuracy. It helps to combat fraud by verifying the location of the freight and driver, blocking location tracking points that are determined to be false and managing the interaction with the customer when fraud is detected. The new capabilities help freight brokers, 3PL) and shippers detect fraud early, save costs associated with the repercussions of fraud, improve carrier scorecards and carrier network performance, enhance trust with customers and carriers, and improve collaboration with carriers and partners when addressing concerns or disputes.

Descartes MacroPoint is a multimodal visibility platform designed to help freight brokers, 3PLs and shippers gain better visibility to their freight operations and shipments. Carriers can easily connect with the solution via GPS-based (global positioning system) electronic logging device (ELD), transportation management systems (TMS) or mobile app-based tracking methods. The platform allows for increased control and management of the supply chain with more efficient and high-quality data to improve communication and decision making. Using Descartes MacroPoint, companies can enhance customer service, increase distribution efficiency, better collaborate with customers, suppliers and carriers, and minimize the impact of disruptions and late delivery penalties.

"Given the increasingly sophisticated tactics of bad actors combined with the sheer volume of data in transportation and logistics, it's essential to have advanced capabilities to help monitor and minimize the impact of fraudulent activities," said Dan Cicerchi, general manager, transportation management, Descartes. "This is an industry-wide issue and our capabilities help address these challenges, making Descartes MacroPoint an even more valuable freight visibility tool by facilitating a more secure logistics ecosystem."

About Swick Logistics

Based in Naperville, Ill., Swick Logistics is a full-service 3PL freight brokerage providing custom-tailored freight services, including dry van, expedited, flatbed, refrigerated and special shipments, through its fleet and trusted partner carrier network to customers across the United States, Mexico and Canada.

About The Descartes Systems Group Inc.

Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use the company's modular, software-as-a-service solutions to: route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. The company's headquarters are in Waterloo, Ont., Canada, and Descartes has offices and partners around the world.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.