The Silicon Review
Developing World Class Enterprise Platforms & Wallets
LiteLink Technologies Inc. was set up to examine, understand and in turn, utilize artificial intelligence, blockchain, and mobile technologies to build online marketplaces. It saw a unique opportunity to take A.I. and blockchain technology into industries that were in need of transformation and those which were stuck in the 90s or that are slower to transform. These technologies include logistics and digital wallet space. The company is developing products that can create a world with transparency, trust, usability, and automation, which in turn increases productivity & human capital management. LiteLink Technologies uses simplicity and user experience in the logistics industry that solves simple tendering, tracking, cost avoidance, and auto bill of lading and payment. It is also solving real-world problems with the commitment to save companies money while increasing revenue.
“If this does not happen, we have missed the market in our vision and purpose,” says LiteLink Technologies Inc.
The Flagship Product - 1SHIFT logistics
1SHIFT Logistics is a cloud-based platform that anyone can pick up and use intuitively. It allows all carriers, shippers and 3PL brokers to win at ensuring assets and make sure goods are delivered on time, on quality, with little to no human intervention. The company has built a workflow to allow all parties to benefit from its platform and hence solves all problems with driver retention. It bridges the gap between enterprise digital payments and wallets for millennials and active digital banking users without high fees or laborious online workflows.
LiteLink Technologies has found a simplified experience that any first-time user can benefit from online remittance, debit card programs, and non-fiat to fiat global remittance. Unlike other applications, this platform targets specific users and is about end-to-end supply chain management. By sharing real-time information about the shipment, stakeholders are kept up to date about its progress and are notified about potential issues. In other words, it acts as a one-stop shop for what you care about when you need to care about it.
This platform has also enabled the firm to achieve substantial efficiencies by replacing paper-based processes with streamlined online workflows and hence eliminate the need for paper and repetitive phone calls (manual follow-ups).
Companies in the logistics marketplace face problems such as fragmented technologies, broken capacity management platforms, and driver loyalty. LiteLink Technologies had to face the same along with the diversity of users it was servicing as well as the complexity of the ecosystem. The firm’s platform had to make the small truckers and shippers demonstrate that they can operate like large enterprises through its rating IP, which it owned. The one question that popped up - How do you level a playing field with different sizes and maturities of users? LiteLink Technologies did that by introducing its own rating, behavioral analysis, and trust network on the blockchain. No one does this today for logistics except LiteLink Technologies.
“The reality is most logistics platforms have a huge learning curve and try to kill the brokers and 3rd party logistics groups. Brokers own the carrier and shipper relationships. We found a way to accelerate broker businesses while reducing the cost of business for all parties. In other words, we come in and bring the ‘human touch married with technology’,” says LiteLink Technologies Inc.
The Current Market Scenario
The US trucking industry has revenues of $700 billion. As e-commerce continues to grow and as companies like Amazon continue to take wallet-share, the demands on the trucking industry will continue to grow. The industry, however, struggles with inefficiencies brought about by a lack of data standards, reliance on voice and paper-based linkages between parties, and proliferation of stand-alone technological solutions of varying vintage and sophistication. This pervasive fragmentation and inherent inefficiencies make the industry ripe for transformation. LiteLink Technologies, with its innovative and state-of-the-art platform, is poised to make inroads into the logistics industry through a continually expanding network of shippers, brokers, and carriers. Because of the mutual benefit of having all stakeholders on the same platform, one participant (such as a shipper) is incentivized to bring other parties (such as carriers) into the ecosystem. Due to this positive reinforcement, the company expects to expand its user base rapidly. Even with a small piece of the very large pie that is the logistics industry, it expects to grow quickly and thrive with a highly competitive solution that is continually evolving.
Future Roadmap of the Firm
While the current 1Shift Logistics product is a platform that goes beyond what is currently offered in the market, it is just the beginning. LiteLink Technologies plans on moving to the next phase of its product development. That is to build an entire ecosystem for all industry players to use. Through integration with the latest technologies and other established line-of-business systems, the company’s comprehensive platform will offer efficiencies and conveniences that provide a new way of doing business. The company feels that mobile phones continue to be the only hardware device which customers use for banking, commerce, workforce management, and communications. Therefore, LiteLink is now focusing on the mobile platform and further uncuffing the necessity of sitting at your desk or visiting a bank ever again. In addition, as described above, the e-wallet platform will provide not only a compelling offering in the personal finance world, it will also be an important value-add to the 1Shift ecosystem.
LiteLink technologies see its solutions enabling the largest retailers and shippers in the world. It has technology that can transform the entire industry in a couple of years. The company is managing its rollout in Canada, followed by the US and the Americas. In a couple of years, it will be servicing the US, Canada, America, and all of Europe. The firm also plans to facilitate all payments for logistics through its platform ensuring payment is made in a timely manner through its technology payment trigger processes on blockchain using A.I.
The Global Technology Leader
Ashik Karim, CEO:
Ashik brings two decades of global technology leadership experience in the telecommunications & high tech sectors driving change on how enterprises use business technology. He enjoyed taking several software platforms through full commercial use with large clients such as TELUS, Wind Mobile, and MDA Aerospace. In the second half of his career, he shifted his focus on start-ups to disrupt enterprise software & consulting companies with AI, blockchain and leading emerging technologies. By being armed with start-up and enterprise platform industry commercialization experience, Ashik strongly believed that he wore the right strategy and tactical focus to this business for platform vision through customer adoption.