Magaya Corporation, the leading provider of logistics and supply chain automation software, announced a strong close to fiscal year 2022 with outstanding annual revenue growth propelled by ongoing advancements to its technology platform and best-in-class customer service.
With uncertainty reigning over the freight industry throughout 2022, Magaya recognized and addressed the pressing need for logistics service providers to be more adaptable, agile, and resilient than ever. Digitization is the only answer to keep up with the ever-changing demands of modern shipping. As such, with digital transformation, automation, and artificial intelligence at the forefront of its growth strategy, Magaya achieved more than 25 percent net new growth for 2022 in alignment with its annual revenue plan, adding nearly 200 new customers and maintaining an unprecedented customer retention rate of more than 98 percent, far surpassing industry average.
The time and cost savings its customers achieve with the Magaya Digital Freight Platform enables them to operate more efficiently while also enhancing the experience for the end customer, a win-win for all.
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The platform continually evolves to meet the changing needs of the market, notably adding in 2022:
- Quote Automation by Magaya, a revolutionary inland freight quote automation solution – the first of its kind to automate the manual process of receiving inland quote requests, gathering rates from multiple carriers, and preparing, formatting, and sending quotes using leading-edge AI technology.
- Enhancements for role-based security, attachment configuration, and shipments fields in Magaya Supply Chain.
- Enhanced automation capabilities of Magaya Customs Compliance to expedite the creation and submission of Air AMS, ACAS, and Type 86 entries by uploading one Excel document for all three fillings.
- Warehouse visibility, online payments, and invoicing for the Magaya Digital Freight Portal when used with Magaya Supply Chain.
The industry continues to take note of the company’s success, with Magaya maintaining its position on the coveted Leader quadrant in the G2 Grid Reports on Freight Management, Warehouse Management, Supply Chain Planning, and Supply Chain Suites. Magaya was also named on Forbes’ list of Best Supply Chain Management Software and Inbound Logistics’ Top 100 Logistics IT Providers list.
“Q4 was an outstanding quarter for us, capping off a record year of growth for Magaya. Not only did we achieve exceptional double-digit organic growth, but we’ve also increased EBITDA growth as experience management becomes even more critical to business success,” reflected Gary Nemmers, Magaya CEO. “As we look forward to 2023, we are excited to see the further development of the Digital Freight Platform, particularly in the areas of automation, digitization, and artificial intelligence which will help our customers develop the resilience and agility needed to seize future opportunities. The momentum for achieving our fiscal 2023 financial objectives has already begun with solid customer and prospect interest geared up for Q1.”
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