Logistics services provider Delhivery Ltd gained more than 2 percent on Thursday after the company announced the launch of a location intelligence solution, LocateOne, to expand its software offerings on its OS1 platform.
LocateOne is an API-based location intelligence stack that boosts inaccurate and poor-quality address data, enhances rooftop accuracy, and aids in lowering address fraud across businesses in retail, e-commerce, fintech, banking and financial services spaces, Delhivery said in a filing to the stock exchanges.
It is built on top of a logistic service provider's patented address disambiguation and handles identification technology, the Gurugram-based firm said.
Before this, the company released a delivery management solution, DispatchOne, which is the first offering on its OS1 suite.
Developed in-house, OS1 provides a full suite of software solutions for businesses to run their logistics as well as supply chain operations efficiently.
With this launch, the software platform now provides two solutions - LocateOne’ and DispatchOne.
DispatchOne is a SaaS-based delivery management solution for Courier Express Parcel (CEP) players and businesses in sectors such as FMCG, consumer durables, retail, and manufacturing to improve delivery and distribution operations.
"LocateOne is built with our learnings from having delivered 2+ billion shipments across 18,500+ pin codes. This ground-level data is further reinforced by our machine learning algorithms to provide precise location insights via LocateOne,” said Kshitij Chopra, Head - Product, OS1.
"DispatchOne, on the other hand is an indispensable tool for companies looking to automate and optimize their last-mile delivery operations," he added.
Delhivery is the country's largest fully integrated logistics services provider with a network of more than 18,500 PIN codes. Last month, Delhivery secured a contract to build and operate the factory-to-customer supply chain for Havells India Ltd in western India.
Shares of Delhivery were trading 2.4 percent higher at Rs 440 apiece on BSE at 11:39 AM.
(Edited by : Asmita Pant)
First Published: Sept 14, 2023 12:57 PM IST
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