WATERLOO, ONTARIO and ATLANTA, GEORGIA, May 17, 2023 (GLOBE NEWSWIRE) -- Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released the results of its 8th Annual Broker & Forwarder Benchmark Survey. The report highlights that top financial performing customs brokers and freight forwarders are almost twice as likely (40% versus 23%) to have larger percentage increases in their IT investments compared to poorer financial performing companies (see Figure 1).
Figure 1. Broker and Forwarder IT Investment Plans
Source: Descartes
“Investing in technology continues to be the top strategy for brokers and forwarders to address continuous economic and industry changes,” said Chris Jones, EVP Industry at Descartes. “Top performing forwarders and brokers are much more aggressive in their IT strategies (see Figure 2) and investments to help sustain their competitive advantage and enhance profitability.”
Figure 2: Broker and Forwarder Technology Adoption Strategy
Source: Descartes
Since 2016, Descartes has conducted an annual benchmark survey of global forwarding and customs brokerage professionals to identify the strategies, tactics and technologies used by top performing organizations. Each year, the survey:
- Explores how brokers and forwarders view the global logistics industry;
- Analyzes how their views impacts financial performance;
- Identifies key industry trends driving the market;
- Uncovers which capabilities, technologies and competitive strategies/tactics are having the greatest impact on brokerage and forwarding operations; and
- Provides an outlook on future forwarding and broker IT investment.
To learn more, read the full report: Descartes’ 8th Annual Broker & Forwarder Benchmark Survey Results.
About Descartes
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and sustainability of logistics-intensive businesses. Customers use our 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. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
Global Media Contact
Cara Strohack
Tel: +1(800) 419-8495 ext. 202025
cstrohack@descartes.com
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.