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Splash 247, Singapore: Cognizant’s AVP, Enterprise Application Services, Consulting, Outlines Key Digitization Strategies for Shippers

“Shipping is the lifeblood of the global economy, delivering 85% of the global demand for transport,” writes Badrinath Setlur. “Managing the headwinds related to the digital economy is crucial for shippers to continue staying competitive.” Excerpts:

“Digitalisation of the maritime industry is crucial in the era of heightening competition. Every competitive edge that shipping companies can gain must be leveraged in a timely manner, or they might face the risk of becoming obsolete.

Maritime business leaders must balance digitalization’s inherent challenges with the need for speed, to avoid getting left behind by the competition. There are the three strategies that shippers can adopt to get a head start in their digital journeys.

#1 E-commerce as the gateway to Connected Shipping
Research from Cognizant reveals that customers worldwide are demanding more visibility into shipment details and service reliability.

#2 A maturity framework to assess capabilities
Before getting started, businesses need an effective framework that can help assess the areas that need substantial investment of time and resources.

#3 Identifying and prioritizing initiatives
At the same time, there is a need for shippers to identify and prioritise initiatives in the action plan for moving towards “Transformed” in the maturity framework.”

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