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Hyderabad, December, 2005 -- The Hyderabad based Four Soft Limited plans to make a foray into the global logistics software industry. It will launch several new products in the next 18 months to catch a slice of the $500 Million global market. To start with, the company has recently announced the commencement of development of two new products - 4S-3Plex and 4S-eCustoms.
4S-3-Plex will bring together various logistics players in the industry to collaborate on a single open platform, which will enable regional and mid-sized forwarders, agents and transportation companies to work seamlessly.
This will provide the visibility of the entire chain to its customers. 4S e-Customs will accelerate the import and export clearance of cargo in major geographic locations.
Customs clearance of major countries will be available in one web based system having the capability to handle the operations, automate interaction with various government customs agencies and ensure compliance.
"The demand of high supply chain visibility, fast turnaround time and increasing pressure on costs by the end customers is forcing the various regional and mid-sized players in the T&L industry to collaborate among themselves and speed-up interaction with governmental agencies like customs. 4S-3Plex and 4S-eCustoms are designed to address these evolving needs and will help 4S stay ahead of the market," observed Mr. Srikanth Palem, CEO & MD, Four Soft.
Four Soft is an enterprise solutions company, providing innovative software products, exclusively for transportation, logistics and supply-chain management market place and also offers IT consultancy services.
The global operations of the company are based out of India, UK, The Netherlands, Singapore and USA. It has its software development centre in HITEC city of Hyderabad, India with products developed on three-tier web architecture.
The Company has large customers including EGL Global Logistics, DHL, Kuehne & Nagle, Schenkers, Panasonic Logistics, UTI, Frans Maas Europe, S-Net Freight, WT Limited and Franklin Distilleries.
Earlier, in line with this objective, Four Soft has acquired DCS Transportation and Logistics Solutions Division, a UK head-quartered Transport and Logistics Software solutions major, belonging to the DCS Group, PLC, with operations in UK, US, Netherlands, France and Germany for a purchase consideration of $19 Million.
ICICI Bank has part funded the acquisitions through debt funding. DCSi.Logistics provides a total solution for all aspects of logistics and freight forwarding by combining its core modules with add-ons such as mobile communications, digital document imaging and business activity monitoring.
The acquisition established 4S as the market leader with large international client base including majority of the top twenty Transportation & Logistics companies of the world.
According to Mr. Srikanth Palem, the acquisition presents the combined customer base a reliable migration path forward and global support for a comprehensive range of products and services in Transportation and Logistics.
"The combined customer base will expand from 120 to 250 plus and the range of products will encompass the complete Transportation & Logistics domain catering to 30,000 plus users spread across 75 countries," he added.
With the acquisition and launch of these new products, Four Soft aims to achieve a turnover of over $28 million
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