WATERLOO, ONTARIO and ATLANTA, GEORGIA, May 17, 2023 — Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released the results of its 8th Annual Broker & Forwarder Benchmark Survey. The report highlights that top financial performing customs brokers and freight forwarders are almost twice as likely (40% versus 23%) to have larger percentage increases in their IT investments compared to poorer financial performing companies (see Figure 1).
Figure 1. Broker and Forwarder IT Investment Plans
Source: Descartes
“Investing in technology continues to be the top strategy for brokers and forwarders to address continuous economic and industry changes,” said Chris Jones, EVP Industry at Descartes. “Top performing forwarders and brokers are much more aggressive in their IT strategies (see Figure 2) and investments to help sustain their competitive advantage and enhance profitability.”
Figure 2: Broker and Forwarder Technology Adoption Strategy
Source: Descartes
Since 2016, Descartes has conducted an annual benchmark survey of global forwarding and customs brokerage professionals to identify the strategies, tactics and technologies used by top performing organizations. Each year, the survey:
- Explores how brokers and forwarders view the global logistics industry;
- Analyzes how their views impacts financial performance;
- Identifies key industry trends driving the market;
- Uncovers which capabilities, technologies and competitive strategies/tactics are having the greatest impact on brokerage and forwarding operations; and
- Provides an outlook on future forwarding and broker IT investment.
To learn more, read the full report: Descartes’ 8th Annual Broker & Forwarder Benchmark Survey Results.
