Business Category: Logistics Transportation
Founding Year: 2016
Startup Stage: Revenue Generation
Support Required: Funding Mentoring
Structure of the Company: PVT Ltd.
Executive Summary: TruckHall is a technology company, aimed at improving the efficiency of truckloads plying on Indian roads. It caters to full truckload movements with a non-asset based model i.e. it doesn't own any truck and uses technology to fulfill any order reaching its platform. With more than 1500+ active vehicle suppliers on its platform, TruckHall has aggregated the largest pool of vehicle suppliers operating in Eastern India. Currently TruckHall provides outbound load servicing from Eastern India (West Bengal, Jharkhand, Assam and Odisha) to Pan India and inbound load fulfillment from Pan India to Eastern India.
India spends more than 14% of its GDP on logistics and transportation, where-as in developed countries the spend is between 6-8%. The transportation industry is characterized by words such as unorganized, inefficient corrupt etc.
The root cause of this problem is that vehicle ownership in the industry is very fragmented i.e. 80% of vehicles are owned by players having less than 5 vehicles, which gives birth to a lot of intermediary players. A single transaction can have anywhere between 8-20 players involved in it.
Moreover, the service levels in the industry are very poor which always leave the clients frustrated.
Product/Service description: SuperProcure : Networked Transport Management System (TMS) as SaaS for manufacturing & construction enterprises to optimise freight cost and improve operational efficiency by digitizing current manual workflows. SuperProcure helps automate day to day logistics workflows, such as vehicle procurement, freight e-negotiation, trip management, e-documentation, in-transit inventory tracking, freight processing, coordination, and collaboration. We help collate and present data in suitable format for planning, optimization and decision making. This empowers people with real time data for informed decision making. Benefits are i. cost reduction – freight, inventory, manpower ii. improved customer service with visibility and faster turnaround
1500 - Suppliers across Eastern India