A case in point: GoBOLT, a tech logistics start-up, which strives to deliver freight effectively through its unique hybrid model and extensive network, backed by judicious use of technology. Within a short span of 10 months, this New Delhi-based transportation solution provider in the B2B segment has managed to stand out. GoBOLT services 60 cities and towns with 4,000-plus empanelled market place trucks. It has about 20 clients with around $3 million annual revenue run rate.
“We cater to marquee clients like Flipkart, GSK, Panasonic, Pepsi, Pepperfry, Tupperware with our services,” says Sumit Sharma, Co-Founder of GoBOLT. “We operate in the B2B surface transportation space in long haul and short haul operations.”
GoBOLT was started by Sharma along with Parag Aggarwal and Naitik Baghla in September 2015 with an aim to offer industry-best logistics services and introduce benchmark practices, thoroughly integrating technology in its operations. Says Sharma, “The company is working in express and non-express FTL (full truck space) and plans to enter the part load business shortly.”
Competency matters
GoBOLT works on a hybrid model for owned and market place trucks. The key focus is on disintermediation on market place trucks and increased asset utilisation, both enabled through technology. The founders claim to have disintermediated market place trucks on many northwestern lanes by providing two-way loads or leveraging return trucks, thereby increasing revenue by 3-5%. Their trucks run around 10,000 km for non-e-commerce and 15,000-20,000 km for e-commerce businesses.
“We work on engineering principles with strong focus on operational excellence. Transportation industry, as such, has moderate margins and it becomes vital to have ‘disciplined innovative’ execution practices,” says Sharma, who leads finance, compliance/ legal, business development and marketing/ branding for the company.
GoBOLT introduced a concept of “buyers” who are the sourcing managers/ supervisors for market place trucks. The freight management system “Launch Pad” provides analytics and controls for better margins. The system also creates competition among buyers by allowing them to outbid each other’s rates, which are then linked to their performance-linked incentives.
Source: The Financial Express