Shipamax records largest quarter in new bookings, after YoY growth of 4.3x in revenue from its data entry automation platform
After years of quiet technology development, Shipamax, today announced a year-over-year revenue growth of 4.3x from its data entry automation platform for logistics companies. Jenna Brown, CEO and co-founder of Shipamax said “2021 is set to be one of our strongest years yet, with Q1 bookings set to almost double annual recurring revenues”
The significant revenue growth coupled with key leadership appointments and market-leading product releases, signal continued scale and growth for the company as it focuses on making it simple for any logistics organisation to automate data entry.
"It's becoming harder and harder to drive efficiency improvements from human process improvement alone without creating data-entry sweatshops. CIOs are now investing in automation technology en-masse to future-proof expansion plans and efficiency gains. We’re seeing companies migrate away from external BPOs - taking back control by complementing internal teams with machine-only processing technology” noted Brown.
Shipamax continued to set the bar for innovation in logistics-automation with its release of Smart Product Code matching and Smart Document Grouping features - enabling an unparalleled level of automation versus vanilla data extraction products. Combined with bolstering their internal Customer Success team and integration coverage, Shipamax is gaining an increasing presence at the enterprise end of the market. Notably, Shipamax added Röhlig Logistics and TVS Supply Chain Solutions to their rapidly growing customer base.
As Shipamax continues its ramp to support all logistics documents within a single automation platform, the Commercial Invoices and Customs Invoices additions have been particularly well received by forwarders battling to keep Britain moving amongst the UK’s Brexit woes.
“I’m extremely bullish about 2021, as we continue to grow our global presence, attract key talent and set the bar for data entry AI solutions within logistics ,” said Brown. “We’ve also got a few exciting plans up our sleeves as we continue on our vision to enable the free flow of global trade information within and between organisations.”