Chase Flashman, Co-Founder & CEO
Having worked as a finance and business development executive for over 10 years at the world’s largest logistics and supply chain firm, Chase Flashman methodically built his leadership skills and industry expertise while ascending the ranks at the firm. While working with big carriers, Flashman acquired in-depth knowledge about setting and negotiating the pricing on the carriers’ side. It was also while serving as a senior sales manager at this firm, calculating margins and tracking account profits, Flashman saw from close quarters the challenges of handling thousands of shipping accounts, including asking for discounts and changes.
Following his entrepreneurial aspirations and penchant for transformation, Flashman, along with his business partner, Deyman Doolittle, leveraged their experience and insights to help businesses reduce their shipping expenses. Flashman and Doolittle founded ShipSights—a company that develops industry-leading supply chain data analytics software and produces enterprise-level consulting solutions—to usher in millions in savings for the clients.
This was in 2017. Flashman has not looked back since. At the helm as the co-founder and CEO, Flashman leads his team at ShipSights to empower organizations with solutions and efficiencies that not only improve their bottom line but also make the carriers happy to hand over cost reductions. At the core, ShipSights is assisting organizations in overcoming a long-standing problem: data silos. Hamstrung by these silos, organizations lack standardized or normalized data, as well as the ability to know where to start when it comes to visualizing the data or turning that data into analytics. Experts at ShipSights were quick to realize that analytics can eliminate the pain involved in managing raw transportation data by converting it into actionable intelligence—whereby data can enable the industry players to streamline factory functions, optimize routing, and give transparency or visibility to the entire supply chain, benefitting both logistics and shipping companies alike.
Understanding that advanced data analytics can help consolidate an industry that has been traditionally plagued with data silos, ShipSights digitizes, and automates the antiquated freight and shipping processes with the use of machine learning incorporated software bots. Alongside this, the company is a pioneer in shipping expense optimization. ShipSights provides cloud-based supply chain management solutions that optimize carrier agreements, service selection, and empowers shippers to deploy a more tactical global transportation strategy. The company ensures that the clients are compliant and are able to reduce shipping expenses by streamlining their transportation execution, monitoring special delivery movements, and identifying ongoing opportunities to increase their profits per shipment. “We provide interactive, visual data to shippers.
We accelerate business value through data and automation
Unlike other vendors that use embedded analytics, we build our analytics from the ground up,” says Flashman.
For perspective, Flashman explains how the request for pricing (RFP) process is much more than a way to secure the cheapest shipping lanes. A Fortune 50 organization was negotiating agreements with UPS and FedEx, both of which were providing it with a number of solutions and recommendations. The result was that the organization could, at most, reduce their costs by about $28,000 a year. However, discussions did not progress much further because of their inability to understand what additional value the 60-paged long agreements held within. In the quest to find and select the right partner who could make their shipments a whole lot smoother, the organization approached ShipSights for assistance. As part of the request, ShipSights modeled the data and provided insight and analysis into how much the opposing agreements were really worth to the Fortune 500 firm. ShipSights’ proprietary modeling software helped the organization understand not only how profitable UPS and FedEx were from their shipment standpoint but also what their operating ratios were and how much costs they could reduce with the help of the particular carrier. Within 10 days of ShipSight’s modeling, the organization was able to reduce their costs by over $700,000 a year with a new carrier agreement in place, which ShipSights was able to procure.
A typical client engagement at ShipSights begins with performing an assessment of the clients’ challenges. Many of the challenges often relate to how much clients can reduce their spend in a given year with UPS or FedEx. ShipSights assesses the client’s invoice data in less than 10 minutes, for free. Within 48 hours, the company can inform the client how much of their costs can be reduced with ShipSight’s trusted modeling, fulfillment modeling, and service mix modeling.
In addition, ShipSights helps its clients in crucial decision-making. For a client looking to add its next distribution center, ShipSights will utilize their current historical data to complete worst-case scenario modeling by applying predictive analytics and fulfillment modeling, based on several different data sources. Furthermore, the company leverages cost modeling to make the client aware of the most cost-effective practices they can undergo. “Our technology can, within seconds, take a tremendous amount of data and perform what-if scenarios and know their financial impacts down to the penny,” adds Flashman.
Besides having a 100 percent client success rate, ShipSights’ data modeling, cost modeling, and fulfillment modeling come with a 100 percent money-back guarantee. With its technology built with global clients in mind, ShipSights can model any carrier agreement in any currency at any time.
Continuing on its voyage of solving inefficiencies and ensuring operational standards, ShipSights will be releasing a mobile and desktop app in the third quarter of this year. The company’s cloud-based SaaS software will also allow sending with push notifications. From a geographic expansion standpoint, ShipSights has recently opened an office in Puerto Rico. “We are on track for at least 300 percent growth this year. We have added four new developers to work on the app, and our website will also be out in the next couple of months,” concludes Flashman.