XLOG gears up to become Asean digital ‘backbone’ in shipping, trade
Shiptek Solutions Corp., the developer of XLOG, the world’s first fully-integrated, blockchain-based, end-to-end shipping and logistics platform, plans to expand its presence beyond the Philippines and into the larger Southeast Asian region, banking on the rising demand for digital solutions in the regional logistics industry.
With the implementation of the Association of Southeast Asian Countries’ (Asean) regional initiative called the Asean Single Window, Shiptek is bullish that it can address the demand for digital solutions in the region, reflective of its early success in the Philippine market.
The Asean Single Window aims to expedite cargo clearance and promote economic integration by enabling the exchange of trade-related documents among Asean Member States.
“We have seen remarkable and exponential growth in volume and revenues since our launch in 2018. As the only fully-integrated blockchain-based, end-to-end shipping and logistics digital ecosystem in the country, we are able to serve all the needs of the players in the industry — from shipping lines, freight forwarders, customs brokers, trucker associations, and even drivers,” Shiptek Founder and CEO Eugenio Ynion Jr. said.
Ynion added: “This gives us the confidence that we will be able to expand in the Asean region and allow us to become the backbone of the regional shipping industry, providing the tech needed to make logistics more transparent, efficient, and affordable to all players.”
Launched in 2018, Shiptek operates the homegrown supply chain and logistics orchestration ecosystem called XLOG, which houses digital solutions such as digital documentation, online booking, fleet management, payment systems, tracking and tracing of shipments, container insurance, finance management, and a mobile app for truck drivers.
In a nutshell, XLOG streamlines the process interconnecting different players in the industry, allowing them to work with one another to create efficiencies and promote productivity.
The fully-customizable platform caters to all players — including the smaller ones — in the logistics industry.
“Our goal is to continue growing rapidly throughout 2022 by expanding our solutions and services, offering financing and digital solutions as a package. This will help our market address the main pain point of limited cash flow, while enabling them to digitize their operations, thereby promoting transparency and efficiency at more affordable costs,” Ynion said.
XLOG offers financial services by leveraging the open finance platform of its minority investor UBX, the fintech arm of Aboitiz-led Unionbank of the Philippines.
“The impact of digital transformation in the logistics sector is huge. Complemented by our open finance platform, we at UBx expect XLOG to empower more players in the logistics industry to digitally transform their operations to enhance productivity and contribute to economic recovery,” UBX Chairman Henry R. Aguda said.
To date, Shiptek has become a trusted partner to over 1,000 companies and organizations in taking their logistics operations to the next level.
“Digital transformation has become the norm in many sectors and the logistics industry is on its way to fully embracing this movement. Our platform levels the playing field by enabling even the smallest of players to digitalize their operations. We at Shiptek are excited to expand to other Asean countries to help more players join the digital revolution in the logistics industry,” Ynion said.