Australian digital logistics company Yojee (ASX: YOJ) has locked in a three-year master services agreement with global logistics provider Geodis Singapore Pte Ltd, giving it access to a greater number of customers across the Asia Pacific.
The agreement will govern multiple sites across the region where Yojee will provide its software-as-a-service (SaaS) logistics and supply chain management technology on standard commercial terms on a project-by-project basis, plus applicable setup, subscription, professional service and transaction fees.
It will commence immediately and includes standard enterprise clauses including termination by either party for any reason or no reason on 180 days’ written notice.
Founded in 2018, Yojee aims to bring delivery and logistics businesses into the digital era, by utilising blockchain technology, artificial intelligence and machine learning for fleet management.
It has been developing a logistics network across the Asia Pacific region based on a proprietary software solution designed to manage deliveries on a mass scale and including traceability and visibility of parcels along the processing line.
The web-based platform provides full visibility of a logistics operations when planning, dispatching and monitoring deliveries and includes real-time business analytics via desktop or mobile app.
Among other features, it promotes real-time route planning as new delivery jobs are booked; job history tracking and associated analytics; and direct communications between drivers and base office.
Geodis is a top 10 global forwarder specialising in sea, air and road transport, with more than 1,000 Asia Pacific partners on its books.
With a strategy based on digitising its logistics operations and improving service experiences across-the-board, Geodis said it had chosen Yojee for its “unique solution which supports modern logistics requirements, drives efficiency and supports customer requirements”.
Yojee managing director Ed Clarke said the Geodis agreement was a milestone for the young company.
“This agreement is not financially material due to the variability and difficulty in estimating transaction volumes and project scopes,” he said.
“But it does validate our mantra of “any business of any size” and will prove the capabilities of our world-leading logistics technology.”
Mr Clarke said Yojee is strategically-aligned to meet the market’s current technology needs and is “uniquely positioned technically and geographically” to understand and deliver solutions.
At midday, shares in Yojee were trading 47.44% higher at $0.115.