Bear Cognition Introduces AI-Driven Revenue Optimization Tool for 3PL Providers
CHARLESTON, S.C., May 23, 2024 (Newswire.com) - Bear Cognition, a leader in data-driven business intelligence, has developed an innovative Revenue Optimization System (ROS) that significantly enhances profitability and efficiency for third-party logistics (3PL) providers. This cutting-edge tool will be featured at the upcoming Freight Waves' Future of Supply Chain show in Atlanta on June 4th.
The ROS tool represents a significant leap in processing efficiency, reducing the time spent analyzing competitor invoices from hours to minutes. Originally designed for a leading 3PL provider, the ROS uses advanced Optical Character Recognition (OCR) AI to transform static shipment invoices into actionable insights, allowing users to optimize for either maximum margins or customer savings.
"By automating what was once a labor-intensive process, our ROS tool not only saves time but also increases accuracy and profitability," said Mike Mullen, COO of Bear Cognition. "It's about transforming data into strategic advantage effortlessly."
The implementation of ROS has shown remarkable results: sales representatives have cut down invoice processing time by 92%, freeing up significant time for customer engagement and acquisition activities. Additionally, the tool has helped achieve an impressive 5-7% increase in margin points by identifying optimal pricing strategies.
Bear Cognition will also unveil a new version of ROS specifically tailored for less-than-truckload (LTL) shipments at the Freight Waves show, demonstrating the company's commitment to innovation and leadership in the logistics industry.
"Our participation at the Freight Waves show in Atlanta is a fantastic opportunity to showcase how ROS can dramatically transform logistics operations," added Mullen. "We invite attendees to see firsthand the potential of AI in revolutionizing the 3PL landscape."
The ROS tool was developed hand-in-hand with clients following Bear Cognition's Software with a Service (SwaS™) model, which combines proprietary tools with expert support to enhance client performance efficiently. This model is part of Bear Cognition's broader strategy to empower logistics companies to navigate the complexities of modern supply chains with cutting-edge technology.
For more information about Bear Cognition and the ROS tool, visit www.bearcognition.com
About Bear Cognition
Bear Cognition is a high-touch business intelligence, process solutions, and management platform company, providing innovative solutions that propel the logistics and supply chain industry forward. With over 25 years of direct involvement in the sector, Bear Cognition is dedicated to delivering comprehensive data management solutions and business strategies.
Source: Bear Cognition
