Situation

A third-party logistics company for a major retail store was experiencing over $60m in claims and losses each year.

• Paying an average of $5m per month in claims and losses
• Experiencing 9% theft and loss ratio, which is double the industry average
  

Opportunity

Venatrust performed a pilot program to test our gate exit solution, which provides real-time validation and timestamps for any shipment exiting the facility.

• Enables security personnel to automatically validate loads being shipped for IOD, insurance, and invoicing purposes
  

Response

Venatrust was able to create a digital record of any tractor trailer exiting the facility through the security gate and provide digital proof of loads shipped from the warehouse.

• The company estimates this new tracking system will eliminate most of its claims and returns
  

Projected Results

96%

of all claims and returns will be eliminated

$4.8m

estimated savings per month

85%

less expensive than the nearest competitor's solution