Today marks the last milestone of the first phase of the Extensiv journey. We say a fond goodbye to the Skubana, Scout, and CartRover brands and now offer our customers a single, unified product experience that unifies the user experience across Extensiv products and allows them to seamlessly add the capabilities they need at any point in their growth.
Every year brands spend more than $200 billion dollars with third-party logistics (3PLs) to ensure their inventory is where it needs to be, when it needs to be there while allowing them to focus on product innovation, marketing, and brand building. Extensiv was created to lift the heavy technical burden off brands and 3PLs, eliminate errors, and increase productivity and harmony. Today, by creating a single fulfillment platform for brands and 3PLs, we have established our clear leadership in that mission.
Now that we are operating as a single offering, 2023 will be a year of innovation at Extensiv. While it won’t happen overnight, we will systematically eliminate the friction points that have made it difficult for brands to work with 3PLs. This will make it more appealing for brands to work with our 3PL customers and easier for our 3PLs to win business from the brands using our software.
Our software will ensure brands working with a supported 3PL have their inventory data, product catalog, and orders wherever needed without manual integration. Further, if issues arise when brands are working with our 3PL customers, we will fix those issues quickly and on our dime. In the future, when brands work with our 3PLs they will be able to get detailed fulfillment cost information including shipping and 3PL fees, as well as delivery performance information from every fulfillment node, whether it is a company operated warehouse or a 3PL. This means they can make more informed decisions about what shipping option is best for their company.
This is the first day of our fully unified business and there is much work ahead. At a time like this, I want to thank to our existing Extensiv customers for their faith and commitment to our products. To deliver on our vision, we have committed more to research and development than at any time in our history and this investment will only continue to grow.
We’re under no illusion that inventing a new category will be easy, but with the steadfast commitment of our employees and support of our customers we believe we are on the cusp of a revolutionary new offering.
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