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Yojee Limited (ASX:YOJ) is a technology solutions provider that focuses on building delivery network and blockchain technology platforms for logistics services. The core business of the company is to provide logistics technology solutions for on-demand movement of goods and services. The platform build by the company enables mass participation in a sharing economy network to help both sender and carrier.
The company, today on 14 February 2019, has announced the addition of a new mobile application called BoxApp. This will help in solving the markets need for a portable âtransport management system liteâ for owner-operators and the thousands of discreet logistics networks to its product suite. This has been achieved through the utilisation of the companyâs extensive existing API set and mobile capabilities in its version 2.0 platform completed in mid-2018.Â
Logistics represents anywhere between 3.0% to 25% of a country's gross domestic product, and it is often extremely fragmented. Market Data and internal research has demonstrated the requirement for a âgateway solutionâ between legacy operating models and achieving digital literacy across the millions of drivers and unofficial logistics networks which traditional transport management systems would not satisfy.
BoxApp will enter the marketplace as an advanced industry-specific messenger app, uniquely positioned as a stepping stone between the users existing solutions such digital messaging applications and traditional paper form which can result in information being lost and extremely difficult to share.
Hence, the technology customers and shippers are in constant demand of achieving real-time visibility, data and automated accounting. SMEs and large enterprises are serviced by Yojeeâs existing software through a Service Transport Management System; however, the sole trader and discreet network marketplace have yet to be offered a solution. This represents a significant percentage of the global logistics operator marketplace.
The company will provide the messenger and job management functionality for free and with unlimited usage, with hundreds of application programming interface, data points and finance and reporting features in the backend of the application able to provide monetizable benefits to both the user and the Company. Additionally, BoxApp is planned to provide 'in-app purchases' including job reports to fast-track invoicing, keeping sole traders on the road and earning, instead of in the office performing unbilled administrative work.
The Managing Director of the company Ed Clarke said that the company has always been committed to providing technology to companies of all sizes, and this is a further demonstration of their commitment. The company provides solutions that are helpful to the small family business as well as the world's largest enterprises who to this day still assign work to individual vehicle operators.
On the price-performance front, the stock of Yojee Limited last traded at $0.086 and rose significantly by ~10.256% during the dayâs trade (AEST 2:22 PM). It has a market capitalisation of $66.1 million. The stock has generated a YTD return of 27.87% and posted returns of -25.71%, 4.0% and 30.0% over the last six months, three months and one-month period respectively. It has a 52-week high price of $0.245 with an average trading volume of 818,583.
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