FarEye recognised in the 2024 Gartner® Market Guide for Multicarrier Parcel Management Solutions

Analyst mentions

By FarEye | June 17, 2024

- FarEye’s Multicarrier Parcel Management Solution experienced impressive adoption in the retail industry with over 37% YoY growth.

- Supported by a comprehensive carrier network and low-code/no-code integration methods reducing average carrier onboarding time by up to 90%.

- This complements FarEye’s Last-mile delivery product suite creating a single platform for the complete order-to-door lifecycle.

FarEye, a global last-mile technology platform, has been recognized as a Representative Vendor in the Gartner® Market Guide for Multicarrier Parcel Management Solutions (MCPMS). Read more here.

The Pitney Bowes 2023 Parcel Shipping Index forecasts parcel volumes to reach 225 billion by 2028, growing at a 6% CAGR from 2023. This steady rise faces challenges like high delivery costs, consumer demands for flexibility, shorter delivery times, and varied delivery models. In addition, labor and fuel cost inflation drives organizations to cut delivery expenses and boost adaptability. MCPM solutions enable shippers to optimize carrier spending, and delivery capacity, and keep service promises.

"For us, the Gartner recognition is a significant milestone enabling us to become a partner of choice for companies obsessed with providing superior delivery experience for their customers," said Kushal Nahata, CEO & Co-founder of FarEye. "Our latest research that draws insights from 300+ global supply chain leaders reveals a shift in the delivery landscape, with 51% of shippers now using outsourced carrier networks, up from 40% last year. However, carrier performance remains a key challenge for these outsourced fleets. This underscores the need for a robust platform that seamlessly integrates with existing TMS, WMS, or order management systems, providing the scalability and efficiency shippers require."
 

Global Leaders Deliver Fast, Smart, and More Flexibly

Consumers are accustomed to multiple delivery options such as same-day, same-hour, curbside, carbon-conscious, free, expedited, and more. Giving consumers choices isn’t an option anymore, it’s their expectation. However, enterprises need to balance the speed of delivery while keeping delivery costs under control. FarEye’s Multicarrier Parcel management solution is leveraged by global Retailers, Manufacturers, Pharma, and eCommerce giants to reduce delivery costs by up to 22% and delivery time by up to 15%.

“We have a lot of carrier partners, and FarEye has helped us onboard successfully. And now we have great visibility of all our partners and LSPs. We implemented FarEye’s carrier selection engine, which was key for us, as it gives us the choice to deliver certain products with certain carriers. It gives us a lot of flexibility, helps expand our footprint, and provides our customers the best experience possible” says Adriaan Smit, Product Manager of Logistics, Distribution, and Merchandising at HomeChoice.
 

Ship From Anywhere To Everywhere at Low Cost

FarEye offers an enterprise-level global multicarrier parcel management solution, that compliments its last-mile delivery solution offering a seamless order-to-door journey on a single platform. With a comprehensive delivery partner network of over 250+ parcel carriers, and 1000+ delivery services integrated, FarEye’s USP is its low code integration platform that can onboard a new carrier in as little as one day.

Its advanced capabilities, which are present with few vendors in the market, include real-time rate shopping, efficient and fast label generation, and intelligent contract management with rate simulations. FarEye's platform is distinguished by its comprehensive visibility control tower and proactive exception management, offering real-time parcel tracking and carrier performance benchmarking against market standards. FarEye’s capabilities extend to customer experience that spans from pre-order, to cart checkout experience with better sustainable options through post-order branded customer communication/tracking and post-delivery end-to-end returns management.

Gartner subscribers can access the report here.

 

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Attribution and Disclaimers:

Gartner, Market Guide for Multicarrier Parcel Management Solutions (Published on 27 May 2024, ID G00780066, by Simon Tunstall, Brock Johns, Oscar Sanchez Duran)

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
 

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