Mumbai, Jun 26 (PTI) Logistics solutions provider FarEye handled more than a billion shipments in the last fiscal with enterprises having revenue of over USD 1 billion accounting for around 60 per cent of volume, according to a statement.
The platform, which connects enterprises to 260-plus carriers across courier, parcel, same-day, next-day, and big-and-bulky delivery services, aims to become the category-leading AI-powered delivery management platform, serving more than 5,000 enterprises globally in the next five years.
“The company achieved shipment volume of more than 1 billion in the last fiscal, with around 60 per cent coming from enterprises with revenue of over USD 1 billion,” the statement said.
The company has been named a Representative
Vendor in the Gartner Market Guide for Multicarrier Parcel Management Solutions – its 11th overall recognition across Gartner Market Guides, it said further.
The guide evaluated 19 vendors, including Pitney Bowes, nShift, Metapack, e2open (a WiseTech Global company), and Shipium, identifying those perceived as most relevant based on revenue, client count, and end-user demand, the company said.
The company stated that Gartner’s research points to four converging pressures forcing enterprises to rethink parcel operations: rising transportation costs, a returns crisis, the emergence of AI tools and growing demand for real-time delivery visibility and accurate promises.
Global parcel volumes are set to grow by more than a third in the next five years. E-commerce returns are on track to cost retailers twice as much as outbound delivery by 2030, it added. PTI IAS MR
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