CHENNAI: Convergence is the buzzword these days and that is exactly what 4TiGo Network Logistics is focussed on. It was founded in April 2015 by two IITians, Anjani Mandal and Vivek Malhotra.The company’s aim is to transform and optimise the goods transportation industry in India by bringing all the stakeholders and industry participants including consignors, consignees, fleet owners, small and medium businesses, transport companies and transportation agencies onto a common technology platform where they can interact and transact, in a trusted, secure and transparent environment.
“We are an internally focused company as the opportunity in India is large with a number of players moving from the unorganised to the organised sector as time goes by,” said Anjani Mandal, CEO and co-founder of the company. “Any business must serve a known or unknown need, and we wanted to be a platform that services all the needs of the logistics sector — a one-stop shop for all stakeholders. The logistics space is constantly evolving and with the increased usage of technology, visibility is going to be the next big thing as it will help improve efficiency.”
It is this dedication to serve a need that led to the platform introducing a host of other services like providing a market place and complementing business services to facilitate the enhancement of business and efficiency for the platform users.
It entered into strategic partnerships with The Federal Bank and Indian Oil Corporation Limited (IOCL) to deliver a comprehensive solution to the network participants that includes a payment guarantee, fulfilment assurance, breakdown assistance and a host of amenities including rest areas and other support services across the country.
“Working capital was the biggest issue faced by the ecosystem,” he said. “Banks are not interested in bill discounting and are not willing to provide capital, so we decided to provide it through a surrogate assessment of the financial health of the entity.
Apart from this, we want to slowly address the inefficiencies at various levels in the supply chain, be it at the factory level or after. The time is ripe for technology-backed assistance and this is why it is an exciting time to be in the logistics space, especially in India.”
The 4TiGO platform provides: