Today I’m joined by WiseTech Global – used by more than 18,000 logistics organizations, including 24 of the top 25 global freight forwarders and 43 of the top 50 global 3PL’s, they are one of the best-known tech brands in the industry.
WiseTech are a leading developer and provider of software solutions to the logistics industry. Their global team of approximately 3,000 people is united in a mission to create breakthrough products that enable and empower those that own and operate the supply chains of the world.
Today Richard White, Founder and CEO of WiseTech Global, joins me to chat all about the company and what they do; his entrepreneurial journey; using real-time data visibility to bring your workforce together; accelerating growth through acquisition; and his vision for empowering the world’s supply chains.
Guest bio:
Richard founded WiseTech Global in 1994. Today it is the major global supplier of logistics execution software covering 173 countries, with ~3,000 staff, and 24 of the top 25 largest Freight Forwarders as customers. His vision is for CargoWise to be the operating system of the global logistics industry. WiseTech listed in 2016 (ASX:WTC) and has grown into a more than $21 billion (AUD) company.
Richard consults to industry and border authorities in countries where WiseTech provides electronic customs clearance. He also works with universities and schools to create pathways for more students to enter the IT industry.
IN THIS EPISODE WE DISCUSS:
[07.23] An introduction to WiseTech and its vision for the industry.
“We have a vision to be the operating system for global logistics – and we’re obviously executing on that vision.”
[09.10] The ideal customer for WiseTech, and why scale breeds success.
“We try to be all things to the industry… but the reason we have a very strong natural success with the largest companies is because of a network effect – the larger you are, and the more nodes you have on the map of the world, the more efficient the system becomes.”
[10.57] An overview of Richard’s entrepreneurial journey, how he founded WiseTech, and why he decided that this brand would be his “forever job.”
[14.11] How Richard created WiseTech’s credo, and why workplace culture is so important.
“That problem-solving, that artistic background, led me to understand that culture is fundamental. If you don’t have strong culture, all the other talk about tactics and strategy and execution goes nowhere.”
[18.18] How the pandemic changed the industry, why WiseTech were so quick to adapt, and how they are helping customers to navigate the current challenges of the ‘new normal.’
“Volumes have come down a bit, but what has come down massively is margins… we’re seeing companies, that perhaps didn’t worry about their automation and processes during COVID, now converting to CargoWise because their margins are being constrained and they need to look at how they can be operationally efficient rather than executionally capable.”
[23.07] A closer look at CargoWise, and the many and varied ways it is helping customers.
[26.43] How CargoWise helped DHL to reduce their Information Systems costs by around 200 million euros per year, and DSV to dramatically grow their company through quick and successful mergers and acquisitions.
“All of our large customers have had significant productivity, efficiency and risk mitigations because of CargoWise.”
[31.03] Why the CargoWise Partner Program was developed, and the benefits of industry collaboration.
[34.34] The complexity of visibility – why it means different things to different people, and why visibility might not be as valuable as you think.
“In my view, visibility is a very thin layer, and not particularly productive or capable by itself… visibility is only valuable if it solves a problem.”
“In a world where we’re so overpowered with information, extra data isn’t really a help. What’s a help is using the data automatically to give you the keys to opportunity.”
[39.46] WiseTech’s tactical acquisition strategy, why that approach is key to building a global business, and the recent acquisitions of Envase and Blume.
[47.00] The future for WiseTech.
RESOURCES AND LINKS MENTIONED:
Head over to WiseTech Global’s website now to find out more and discover how they could help you too. You can also connect with WiseTech and keep up to date with the latest over on LinkedIn, Facebook, Twitter or YouTube, or you can connect with Richard on LinkedIn.
If you enjoyed this episode and want to hear more, listen to 320: Going Inside The Mind of Anthony Miller, 330: Transform Every Move, Every Mode and Every Mile, with Blume Global or 325: Build Thriving Supply Chain Communities, with Envase Technologies, or read Marisa Martin on Finding A Seat at the Supply Chain Table.
Check out our other podcasts HERE.
