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Transforming Logistics: IQAX's Journey to Digital Innovation and Excellence

  • April 23, 2024
  • News

IQAX, an innovative technology-driven company that develops solutions for the shipping and logistics industry, is at the forefront of efforts to digitalize and make this important industry more efficient. In an interview with Biz Tech Outlook, IQAX’s leadership delved deep into how the company is revolutionizing shipping and logistics, making supply chains and trade around the world much more seamless in the process.

What is IQAX? What sets the company apart from its competitors?

IQAX is an information technology leader in developing intelligent solutions. We leverage cutting-edge technologies like blockchain, the Internet of Things (IoT), big data, artificial intelligence (AI), and digital twin to give our customers access to data and information they need to strengthen their logistics operations, provide the best possible customer service, and improve their bottom lines.

Our solutions give our customers unprecedented visibility to streamline logistics operations and drive resilience in the face of disruptions. Powered by advanced machine learning algorithms, real-time data processing capabilities, and userfriendly intuitive interfaces, our platforms integrate multiple data sources into single streams of truth that deliver customized insights at scale. Users can efficiently extract, visualize, and act on rich analytics. Where some companies only offer siloed data or generic benchmarks, IQAX provides customer-centric and user-friendly dashboards offering in-depth visibility to enable datadriven decisions. The unique ability to capture, analyze, and apply insight from massive volumes of distributed data, along with tailored actionable analytics, sets IQAX apart.

What is IQAX’s mission and vision?

The global shipping industry has been slow to embrace digital technologies despite clear opportunities to improve efficiencies, reduce costs, and better serve customers. At IQAX, we saw an opportunity to make a meaningful impact by bridging this digitalization gap.

IQAX is at the forefront of logistics digitalization. Our suite of intelligent solutions, like IQAX Track and Trace, makes use of shipping and trade data to provide traceability and transparency across supply chains. This ushers in new business models and allows companies to work collaboratively in new ways.

In an era defined by complex global supply chains, rather than just automating existing processes, we set out to empower players across trade ecosystems with our trusted platforms and innovative solutions to transform operations and overcome challenges with increased efficiency and effectiveness.

What milestones/achievements have most significantly contributed to IQAX being recognized as one of the “top fastestgrowing companies to watch in 2024”?

From day one, IQAX has focused on being at the cutting edge of innovation by incorporating advanced technologies into our logistics solutions. Two products that exemplify our disruptive approach are IQAX eBL and IBOX Reefer.

Managing outdated paper bills of lading (B/L) is a strain on the industry. Our electronic bill of lading (eBL) solution fully digitizes the B/L processes using blockchain. With over 150,000 eBL issued and counting, the platform revolutionizes the management of these very important documents with enhanced speed, security, and ease of use.

IQAX eBL cuts down on document circulation times by 5 to 8 days through one-click online transfers and endorsements. The Global Shipping Business Network (GSBN) blockchain-powered platform ensures the authenticity and traceability of records. Disputes are eliminated and the risks of detention and demurrage charges are slashed. Users gain a single bird’s eye view of cargo movements, B/L history, and banking statuses for facilitating decisionmaking.

Another game-changer is IBOX Reefer, which optimizes cargo care, boosts efficiency, and strengthens carriers’ competitive edge through the power of integrated big data and machine learning.

By integrating IoT monitoring into its AI-powered platform, IBOX Reefer provides carriers with realtime insights into reefer container conditions. This makes way for predictive maintenance planning through remote data capture and analytics of cargo components likely to fail.

What are IQAX’s strategies to exceed client expectations?

Continuous innovation and exceptional client service are at the core of IQAX. Our regular platform updates with new features keep pace with evolving client requirements and industry trends.

Robust data security and privacy protection are also top priorities. Our stringent measures safeguard sensitive information in full compliance with regulations to maintain our clients’ trust.

We go above and beyond standard service offerings to consistently exceed client expectations. Leveraging our deep domain expertise, we provide valuable strategic consultation to help clients gain competitive edges.

Which key markets have particularly complex regulatory environments for logistics operations, and how does IQAX address these challenges?

Shipping regulations vary greatly between countries and pose ongoing challenges. IQAX tackles this head-on through regulatory expertise, adaptive technology, and key partnerships. Strict compliance with unique trade rules worldwide is fundamental to our operations.

Our solutions are designed with adaptability and global accessibility in mind. They can be tailored to meet intricate requirements in markets worldwide and maximize flexibility for users wherever they are. For example, our key partnerships with major carriers, banks, and logistics operators reinforce IQAX eBL’s ability to streamline the B/L process.

Logistics operations are evolving rapidly. How does IQAX ensure its solutions continue meeting the changing business needs and requirements of customers?

Staying agile and responsive to evolving customer needs is central to IQAX’s success. We regularly communicate with our existing clients to gain a real-time understanding of their supply chain challenges. This important feedback informs how we continuously enhance our platforms and services.

We also proactively collaborate with partners up and down the supply chain to keep our fingers on the pulse of industry evolutions. They include shipping lines, ports, international shipping associations and other stakeholders. This way, we can accurately pinpoint emerging requirements before they become widespread industry norms.

Be it shippers, freight forwarders, carriers, or financial institutions, IQAX endeavors to help our partners digitize processes, collaborate seamlessly, and meet emerging business challenges throughout the supply chain.

Most importantly, IQAX speaks both the language of technology and logistics. With deep-seated shipping industry roots, our solutions translate technological advancement into practical applications. Customers access predictive analytics on cargo, shipments, operations, and industry trends through AI, digital twins, blockchain, and IoT.

Going forward, as the evolution of shipping and logistics accelerates, IQAX will continue delivering value and remain steadfast in empowering our partners to succeed in a changing world.


written by Biztechoutlook

IQAX respects your privacy and is committed to protecting it. For more information, read IQAX's Privacy Statement

IQAX respects your privacy and is committed to protecting it. For more information, read IQAX's Privacy Statement.