ATLANTA and AMERSFOORT, The Netherlands, June 11, 2024 (GLOBE NEWSWIRE) --
Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting
logistics-intensive businesses in commerce, released the results of its 8
(https://www.descartes.com/resources/knowledge-center/2024-transportation-
management-benchmark-survey)(th) (https://www.descartes.com/resources/knowledge-
center/2024-transportation-management-benchmark-survey) Annual Global
Transportation Management Benchmark Survey
(https://www.descartes.com/resources/knowledge-center/2024-transportation-
management-benchmark-survey) of over 630 companies. The study shows that 40% of
the shippers and logistics services providers (LSP) surveyed are planning to
invest in transportation technology to prepare for industry and regulatory
changes. For top financially performing companies where senior leadership view
transportation as a competitive weapon, this number rose to 44% compared to 32%
for poorer financial performers.
In terms of areas of focus, for the 7(th) consecutive year, real-time
transportation visibility held the top spot for greatest transportation IT
investment. Visibility was cited as the priority technology investment by 36% of
respondents and was closely followed by order management at 35% in the 2(nd)
spot. Jumping into the 3(rd) spot, fleet routing was noted by 29% of respondents
as an important technology investment, compared to being 8(th) in 2023. Carrier
sourcing continued to decline as an IT investment area for the 3(rd) year in a
row, cited by only 20% of respondents and landing in the 10(th) spot in the
capabilities rankings.
Figure 1. Transportation Management Technology Investments
Source: Descartes "This year's study once again shows a correlation between business performance
and management's perception of the importance of transportation, as companies
that place a higher strategic value on transportation realize stronger financial
performance and growth," said Mike Hane, Director, Product Marketing,
Transportation Management at Descartes. "Top performers continue to take more
aggressive actions to grow and expand delivery options for customers, which
requires increasing technology investments such as visibility and order
management. By contrast, poorer performers are more focused on cost cutting and
are 10X less likely to expect growth greater than 15% annually than top
performers, according to study findings."
Descartes and SAPIO Research surveyed 630 participants representing the
logistics community (i.e., brokers, forwarders and third-party logistics
providers) and shippers (i.e., manufacturers, distributors and retailers) from a
wide variety of industries. The goal was to understand how companies view the
role of transportation management; uncover which capabilities, technologies and
competitive strategies/tactics are having the greatest impact on transportation
operations; and provide an outlook on future transportation IT investment.
Respondents were based in the United States, Canada and in Western Europe.
To learn more, read the full report: Descartes' 8
(https://www.descartes.com/resources/knowledge-center/2024-transportation-
management-benchmark-survey)(th) (https://www.descartes.com/resources/knowledge-
center/2024-transportation-management-benchmark-survey) Annual Global
Transportation Management Benchmark Survey
(https://www.descartes.com/resources/knowledge-center/2024-transportation-
management-benchmark-survey).
About Descartes
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand,
software-as-a-service solutions focused on improving the productivity, security
and sustainability of logistics-intensive businesses. Customers use our modular,
software-as-a-service solutions to route, track and help improve the safety,
performance and compliance of delivery resources; plan, allocate and execute
shipments; rate, audit and pay transportation invoices; access global trade
data; file customs and security documents for imports and exports; and complete
numerous other logistics processes by participating in the world's largest,
collaborative multimodal logistics community. Our headquarters are in Waterloo,
Ontario, Canada and we have offices and partners around the world. Learn more
at www.descartes.com (http://www.descartes.com), and connect with us on LinkedIn
(https://www.linkedin.com/company/descartes-systems-group) and Twitter
(https://twitter.com/descartessg).
Global Media Contact
Cara Strohack
Tel: +1(800) 419-8495 ext. 202025
cstrohack@descartes.com (mailto:cstrohack@descartes.com)
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of
applicable securities laws ("forward-looking statements") that relate to
Descartes' transportation management solution offerings and potential benefits
derived therefrom; and other matters. Such forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other factors that may
cause the actual results, performance or achievements to differ materially from
the anticipated results, performance or achievements or developments expressed
or implied by such forward-looking statements. Such factors include, but are not
limited to, the factors and assumptions discussed in the section entitled,
"Certain Factors That May Affect Future Results" in documents filed with the
Securities and Exchange Commission, the Ontario Securities Commission and other
securities commissions across Canada including Descartes' most recently filed
management's discussion and analysis. If any such risks actually occur, they
could materially adversely affect our business, financial condition or results
of operations. In that case, the trading price of our common shares could
decline, perhaps materially. Readers are cautioned not to place undue reliance
upon any such forward-looking statements, which speak only as of the date made.
Forward-looking statements are provided for the purposes of providing
information about management's current expectations and plans relating to the
future. Readers are cautioned that such information may not be appropriate for
other purposes. We do not undertake or accept any obligation or undertaking to
release publicly any updates or revisions to any forward-looking statements to
reflect any change in our expectations or any change in events, conditions or
circumstances on which any such statement is based, except as required by law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f9af155d-5fe2-45b1-8166-
b796f7553f45
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