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4TiGO to bridge the technology gap for GST Enablement in Goods Transport

Caption – Mr.Vivek Malhotra, Co-founder and Chief of Strategy and Marketing, Fortigo Network at an event in Mumbai to announce the company’s expansion plans in Maharashtra and about its GST Enablement Solutions for transporters and fleet owners.

Company plans to further expand its operations in Maharashtra

19th July, 2017, Mumbai:  In its mission to help “organize the unorganized” logistics sector, Fortigo Network (4TiGO), a logistics start-up backed by Nandan Nilekani and Accel Partners, today announced its GST Enablement solutions for transporters and fleet owners. The firm also announced to further expand its operations in Maharashtra.

In line with this, Anjani Mandal, Co-founder and Chief Executive Officer, Fortigo Network said, “With the launch of GST in the country, the hitherto unorganized transport industry has a golden opportunity to get organized and reap the benefits of being a part of the economic mainstream. The impending introduction of the e-Waybill will further help streamline and improve the ease of goods movement, thereby reducing transit times and enhancing the utilization and profitability for the logistics sector. However, to take advantage of the transformation being ushered in by GST and related reforms, the industry needs to be tech-enabled. While the government, recognizing the low-level of technology penetration in the transport industry, has released a simplified mechanism for GST payments for road transportation, we at 4TiGO believe that the transporters, fleet owners and the industry as a whole will stand to gain significantly by fully embracing the forward charge provisions of the GST and taking advantage of the input credits to lower their cost basis.”

4TiGO has now developed transport industry specific extensions and partnerships to enable its network participants to register onto GSTN, upload invoices and other GSTN documentation, and maintain their entire books of account online. As and when the e-Waybill initiative is rolled out, the transporters and fleet owners will be able to use the platform to generate and access the e-Waybill as well. 4TiGO’s cloud-based technology platform and complementary business services brings various stakeholders of the logistics industry -- including consignors, consignees, fleet owners, transport companies and agencies — together on a common platform. This helps the network participants exchange information, transact and manage their entire business on the platform. 4TiGO also facilitates completely cashless digital payments for freight as well as trip expenses including fuel, toll and driver expenses.

Speaking about expansion of operations, Vivek Malhotra, Co-founder and Chief of Strategy and Marketing, Fortigo Network expressed, “We have established a pan-India footprint covering most of the major transport hubs. In Maharashtra, we have so far been operating primarily in Mumbai and Pune. Based on the market traction and growth potential, we are now expanding into Central Maharashtra by strengthening our presence in Nagpur, Aurangabad and Nashik.”
Fortigo Network currently has over 10,000 trucks on its platform across 400+ network participants.

4TiGO to bridge the technology gap for GST Enablement in Goods Transport

About Fortigo Network 

Fortigo Network is a start-up focused on transforming and optimizing the goods transportation industry in India, by bringing all the stakeholders and industry participants on to a common technology platform where they can interact and transact, in a trusted, secure and transparent environment.  Fortigo Network’s platform provides:
¨Matching supply to demand of trucks in real time based on the location, truck and load characteristics, to minimize idle time and maximize resource utilization
¨Online bidding, negotiation and contracting
¨Working capital for transporter and fleet owner-based small and medium businesses
¨Complete contract management with fulfilment assurance and payment guarantee
¨Precise navigation to help drivers find addresses in newer geographies
¨A comprehensive fleet management system to monitor and manage captive as well as extended fleet movement for fleet owners, transport companies and customers
For fleet owners this translates into an increase in revenue of 20-40 percent. For Transport companies and customers the network can provide the assurance of consistent and transparent services by validated, fully monitored trucks. The online, electronic documentation including the electronic proof of delivery (ePoD) facilitates smoother transit and shorter cash cycles for the consignor and the consignee.
Currently, Fortigo Network has set up operations in Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Kerala and Goa, Maharashtra, Gujarat and NCR. It plans to expand its coverage across the country within the next 12-18 months