Software and information provider, INTTRA, presented the results of an industry survey, which tried to understand the appetite of businesses for digital transformation. Specifically, the survey found that 71% of the respondents are well on their way to full digitalization.
The survey attempted to comprehend business challenges and the appetite for digital transformation. The results support the themes outlined above, including the increased need for standards.
Standards should be done by a neutral party
82% responded that standards should be done by a neutral party. In fact, 82% prefer to see an initiative started by a neutral party that works collaboratively with multiple industry players.
Moreover, 18% would prefer a small and closed number of industry players to establish data-sharing standards and protocols.
Agreed standards and protocols are essential
Another important issue of the survey was standards and protocols. For this matter, 91% noted that the creation of agreed standards and protocols is essential. Namely:
- Absolute necessity – 58%
- Very important – 33%
- Somewhat important – 9%
- Not important – 0%
EDI and API the highest scores, blockchain the lowest
Regarding how each digital sector ins performing standard-wise, the respondents mentioned that EDI and API scored the highest, while blockchain the lowest on standards that will help shipping the most. In fact:
- 26% choose EDI standards;
- 26% choose API standards;
- 16% choose eBill of Lading standards;
- 14% choose Real-Time container status communication standards;
- 10% choose IoT standards;
- 8% chosse Blockchain standards.
Real-time container visibility among top challenges
Real-time container visibility is a top challenge for BCOs and Freight Forwarders. Namely, respondents consider the following as top priorities:
- Real-time container visibility the top – 47%;
- Securing space/getting containers rolled – 45%;
- Managing rates and rate changes – 41%;
- Delivery time predictability – 39%.
Overcapacity also a challenge
The survey showed that overcapacity on trade routes is a top challenge for carriers, as well. The top four responses showed the following as a challenge:
- Overcapacity on trade routes – 55%;
- No shows/ghost booking – 52%;
- Capacity management/asset utilization – 48%;
- Data sharing – 33%.
71% close to full digitalization
As for digitalization in general, the vast majority of the respondents (71%) said that they are well underway to achieve full digitalization. More specifically:
- 16% said 0-20% of their operations are fully digitalized;
- 22% said 20-40% of their operations are fully digitalized;
- 25% said 40-60% of their operations are fully digitalized;
- 24% said 60-80%. of their operations are fully digitalized;
- 13% said 80-100% of their operations are fully digitalized;
Commenting on the results of the survey, Inna Kuznetsova, President and COO of INTTRA, stated:
While a significant percentage of respondents indicate that a good portion of their businesses are now digitalized, much work still needs to be done around standards for API and EDI, electronic Bill of Lading and other aspects around interoperability.