Four Soft bets big on cloud-based product for logistics sector

Four Soft, the IT services provider for the logistics and transportation sector is focussing on cloud computing.

The company has designed a cloud-based product for the small and medium enterprises for effective management of information flows covering the entire supply chain structure.

“We have already tied up with Amway and Toshiba for the product.

“We feel cloud-based logistics product will be attractive for companies, as this eliminates the need to install and run applications on the customer's own systems,” Mr P. Srikanth Reddy, Chairman of the company, told Business Line .

The company feels the global logistics and supply chain market will be looking for specialised software that focuses on continued technology advancement. Four Soft is competing with companies such as Kale Consultants and Take Solutions in this space.

Its product, SaaS, involves a suite of solutions on cloud, using common platform for inter-operability across industries.

Its other products include solutions for freight forwarding and logistics, extended warehouse management, customs brokerage, shipping line execution, etc.

growth outlook

Four Soft, which is aiming at a net profit of Rs 15 crore this fiscal, feels that IT spends in the logistics sector are on the rise.

The Indian logistics industry is estimated at $130 billion and is expected to grow to $385 billion in the next four to five years.

investment

A study by Mumbai-based Softlink Logistics last year had revealed that there is a significant increase in the number of companies planning to invest above Rs 1 crore on IT.

The survey had revealed that 37 per cent of the large companies with a turnover of Rs 250 crore felt that not finding suitable software is a barrier in adopting IT.

amitmitra@thehindu.co.in

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