Transport, shipping and logistics (TSL) industry most pressing issues:
Transportation payment and dispute resolution – Average Days Sales Outstanding in trucking reaches 36.9 days. Payment automation resulting from smart contract reduces payment delays and disputes.
Administrative costs – the cost of document processing and administration reaches 20% of the costs of transportation according to Maersk and IBM.
Improvement of freight monitoring and quality control – Cold chain monitoring is a serious challenge for the pharmaceutical industry where 8.5% of global shipments are sensitive to temperature deviations. In some countries, this number reaches 20%.
Transparency and trust – cargo thefts alone are estimated to $30 billion annually worldwide.