Yojee (ASX: YOJ) is set to extend its market reach into South East Asia after it announced signing a three-year agreement with Thailand-based Siam Shoreside Services – an established transportation company with almost 40 years of history in the region.
Furthermore, Siam Shoreside is part of APM Terminals global network, one of the world’s most comprehensive port and integrated inland service networks, currently operated by Danish giant A.P. Møller – Mærsk A/S.
The agreement follows last month’s similar deal with global supply chain operator Geodis Singapore that will see Yojee’s SaaS platform being integrated by Geodis to track freight across Malaysia, Thailand and Singapore.
Yojee’s platform tracks and optimises freight movements along the entire logistics chain with Siam set to integrate the platform into its operations by the end of the year.
The subscription agreement means Yojee will provide Siam with access to its subscription-based SaaS platform across its freight movements of all sizes including the shipping container segment within South East Asia. A per-transaction fee will be charged on top of minimum monthly fees for container movements.
According to both parties, the agreement will run for an initial term of three years and will automatically renew for successive 12-month periods, subject to standard enterprise termination clauses, including a mutual option for termination within 90 days’ notice.
“Yojee is the standout solution in the region now, with its ability to handle powerfully and efficiently any use case thrown at it. The system is scalable, user-friendly and quick to implement, making it perfect for our purposes in this fast-growing region to fast track the growth and improve cost efficiencies while providing greater visibility to our clients,” Siam director Rupesh Jain said.
Yojee noted the platform integration will occur in several phases.
In phase one, Yojee’s SaaS platform will be implemented into Siam’s operations at its Bangkok headquarters in addition to other supporting locations around South East Asia for end-to-end supply chain use cases under an initial statement of work.
The go-live phase whereby container movements are being tracked on an ongoing basis is expected to occur in November 2020.
“Our signing of a key container logistics operator in Thailand with Siam Shoreside is another opportunity for us to support the logistics industry in digitising. We work with customers to take market-leading products to clients, and to create cost and operating efficiencies across the supply chain,” Yojee’s managing director Ed Clarke said.