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January 2 2023

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Page 118 of 131

Januar y 2, 2023 | Journal of Commerce 117 EXECUTIVE COMMENTARY 2023 ANNUAL REVIEW & OUTLOOK Logistics at WiseTech. Data is at the core of any supply chain or logistics process, and speed, accuracy, and cost are paramount to improve outcomes. Developing solutions that will pro- vide rapid, accurate, and complete data transfer, allowing real-time data processing and streamlined opera- tional processes and decision-making, is a win–win for everyone involved. WiseTech Global is committed to this fully digital future and is investing heavily in the innovations required, most recently acquiring Bolero and Shipamax, along with a substantial internal development program to enable and empower our customers and the industry at large. As we progress this fully digital future, we intend to license our inno- vations, standards, and schematics to other participants and supply chain and logistics technology vendors to create common standards and con- sensus in this space. JOC with up to 30 di erent stakeholders. This process is slow, ine cient, and error-prone. As we move toward a paper-free future, we need to innovate for the full replacement of paper and e-paper and move to com- puter-readable documents and fully digital workfl ows. Human-readable documents should be an option used only when absolutely required by law or technical impediment. There has been a surge in the use of data entry automation software in logistics, but there is a missed opportunity in realizing the true operational benefi ts of this technol- ogy. We need to remove the need for human rekeying in data capture to reduce the risk of incorrect data entry and rekeying of data, as well as lower the costs associated with data exchange and reduce the opportu- nity for fraud. We've made this fully digital future a priority development area Image credit: SAL Thinking outside the box? Distributed Quarterly | Print and Digital Webcasts | Newswire | | Targeted events 32068/1222

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