However, logistics companies face several issues that, to some extent, can be addressed by a SaaS-enabled platform for credit embedment.
Let’s understand how logistics can achieve innovation and growth by discussing the latest partnership between Finverv, a credit embedment company, and Shree Maruti, a notable logistics company.
Finverv is a SaaS-enabled platform founded in November 2021 for the growth and innovation of multiple sectors. We provide a white-label solution for lending infrastructure. We also have a network of lenders that we can connect with our clients’ credit products. Our digital platform is flexible and designed to meet the credit needs of businesses of all sizes.
We also help our clients with lender integration, which means we handle the process of bringing new or existing lenders on board to their credit schemes.
Shree Maruti Company Ltd., formerly known as Shree Maruti Courier Services Pvt. Ltd., has delivered smiles across India since 1985. The company has headquarters in Ahmedabad, Gujarat, and a zonal office in Mumbai, Maharashtra.
The company offers warehousing, 3PL, 4PL, 5PL, and e-commerce logistics solutions. Here is the explanation for those who need to learn about this 3PL, 4PL, and 5PL.
a) 3PL (Third-Party Logistics): A 3PL provider handles some or all of the logistics operations for a company, such as warehousing, freight forwarding, customs clearance, inventory management, and transportation. It can be asset-based or non-asset-based, meaning they may own their vehicles and warehouses or rely on their partners to provide them.
b) 4PL (Fourth-Party Logistics): It manages the entire supply chain for a company, from designing and implementing logistics solutions to overseeing and optimising the performance of 3PL providers. A 4PL is the company’s single point of contact and provides strategic guidance and analysis.
c) 5PL (Fifth-Party Logistics): A 5PL provider is similar to a 4PL provider but with a higher level of integration and involvement in the customer’s supply chain. A 5PL provider leverages advanced technology, such as artificial intelligence, big data, and automation, to create and manage complex logistics networks that can handle multiple customers and modes of transportation.
Shree Maruti has a modern tech-based platform called Innofulfill. This platform helps automate the process of order fulfilment, inventory management, route generation, and online tracking of orders and notifications. The platform minimises delivery cost and time and ensures a smooth and consistent customer experience.
The company has a network of over 2600 outlets across India and serves millions of customers every month.
The partnership between Finverv and Shree Maruti is not only beneficial for the two companies but also for the entire logistics sector in India. The partnership will have a positive impact on the growth of the logistics sector in several ways, such as financing
With Finverv, Shree Maruti can offer flexible credit solutions to its customers and partners, such as working capital loans. It is a short-term loan to partners, like e-commerce sellers, FMCG distributors, and pharma manufacturers, to help them manage their cash flow and inventory needs. The partners can utilise this loan to pay their employees’ salary, clear office utility bills, and buy inventory to meet the present demand for finished products.
Finverv and Shree Maruti have partnered to boost innovation and growth in credit in India’s logistics sector. Finverv is a platform that lets companies offer credit to their customers easily. Shree Maruti is a logistics company that uses smart technologies like IoT, AI, and blockchain. They will work together to provide flexible credit options for Shree Maruti’s customers, such as loans for working capital, vehicles, and warehouses. This will solve supply chain problems and promote economic growth. The partnership benefits both companies and the entire logistics industry in India.
