AP Cargo Loqistic Network Corp., Philippines' leading domestic provider of express logistics for air cargo and other goods, today announced that it will implement Ramco Svstems' Logistics Software to streamline its freight operations nationwide.
Ramco - an award-winning provider of enterprise software on cloud, mobile and tablets - beat local and global vendors to secure the partnership with AP Cargo, it will roll out its integrated Logistics platform bundled with next-gen Finance and HR, for the benefit of more than 1,600 employees, covering over 500+ fleet, reducing manual workloads and generating cost savings while automating tedious administrative tasks.
The partnership comes at a time when Philippines is rapidly adopting IT solutions to ramp up its logistics capabilities and infrastructure. According to ResearchAndMarkets.com, the Philippine freight and logistics market is expected to be worth USD 60.22 billion by 2023, with the rise of e-commerce, internet penetration and increased spending power anticipated to boost demand.
Ramco, which set up its Philippine subsidiary in mid-2016 has been witnessing stupendous growth in the region, with nearly 40% of the new order booking for APAC in 2017-18 coming from Philippines. Ramco's continuous thrust on Logistics segment and focus on employing some of the innovative minds locally, has been strengthening the company's position in the region.
As part of the agreement, Ramco will implement its unified, mobile-friendly modules for transport management, hub management; warehouse management, fleet management, visibility; rating and billing, finance and accounting, integrated with end-to-end HR and Payroll compliant with Philippines' statutory requirements at AP Cargo.
Commenting on the deal, Vincent John S. Villacorte, Vice President - Business Operations, AP Cargo, said, "The decision to automate our manual systems with a future-ready logistics suite is part of a larger strategy to overhaul our supply chain. Ramco's unified solution will offer real-time operational visibility and better planning capabilities, enabling us to arrest revenue leakage and boost productivity to drive overall growth. Ramco has a great track record as a logistics software provider in the Philippines, and we are excited to work with them for our digital transformation."
Virender Aggarwal, CEO, Ramco Systems, said, "We are pleased to announce AP Cargo as our latest customer in the logistics and shipping space. Logistics is the backbone of global trade and the Philippines has enjoyed remarkable growth in recent times. Our intelligent, mobile-friendly enterprise suite has won us the trust of customers throughout the Philippines, helping local enterprises optimise their operations and meet the changing demands of commerce in the region."
"Having already secured partnerships with leading logistics providers in the Philippines, we have built our solution to address specific pain points in this market and enable clients to leapfrog the competition. This win represents another milestone in our ongoing journey to strengthen our presence in the high-growth ASEAN economies," added Aggarwal.
Ramco Looistics software is an integrated Cloud-based platform for Third Party Logistics, Freight Forwarders, and parcel / courier service providers seeking a high-performance logistics software. An lntegrated end-to-end solution that can link every stage of a logistics chain and bring all the functionalities under a single technology platform, which is flexible, scalable, cognitive, and ready to adapt to change is helping the solution attract customers, worldwide.
Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.377.05 as compared to the previous close of Rs. 384.3. The total number of shares traded during the day was 1667 in over 120 trades.
The stock hit an intraday high of Rs. 397.95 and intraday low of 375.1. The net turnover during the day was Rs. 644430.