FarEye Strengths, Domain Expertise, and Key Differentiators
FarEye’s Intelligent Delivery platform turns at-home deliveries into a competitive advantage. Retail, e-commerce and third-party logistics companies use FarEye’s unique combination of orchestration, real-time visibility, and branded customer experiences to simplify complex last-mile delivery logistics. The FarEye platform allows businesses to increase consumer loyalty and satisfaction, reduce costs and improve operational efficiencies.
FarEye Recent Developments
In June 2022 FarEye introduced an online returns management solution to simplify the returns experience for customers by removing friction from returns and exchanges and creating new revenue opportunities for retailers. FarEye’s online returns management solution gives brands a customized returns strategy to streamline return and exchange requests, inventory, logistics, and processing and connect every point in the return cycle. The solution offers in-depth functionality for picking up, receiving, inspecting, and processing returns and exchanges. Furthermore, FarEye is uniquely able to layer those return flows on top of the existing “forward” delivery network driving speed, and efficiency while driving return costs down.
FarEye’s returns management solution simplifies the returns experience for consumers through these capabilities: Embedded branded returns portal: Gives retailers the ability to personalize the returns experience, upsell the consumer through targeted ads on special offers and upcoming events, and a dedicated dashboard to measure the performance of retailers’ 3PL and merchant network. Real-time tracking of returns and refunds: Offers granular return policies and fees based on any customer or order attribute, and allows the consumer to choose their preferred carrier for the return. Flexible returns methodology: Allows consumers to choose from multiple shipping options to best match their needs. They can select at-home pickup or choose from multiple drop-off locations like store and carrier locations, and schedule windows for at-home pickups. Returns analytics: Gives retailers powerful insights that reduce return rate, help define the return strategy, solve inventory issues, gather SKU-level analytics, and ultimately deliver more value to the consumer.
FarEye Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying FarEye applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of FarEye and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FarEye IDM Platform customers.
Ownership: - x
Number of Employees: 1000
FarEye Key Enterprise and Cloud Applications
FarEye IDM Platform
FarEye Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
FarEye Revenue Breakdown By Type, $M:
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FarEye Enterprise Applications Revenues By Functional Markets, $M:
FarEye Enterprise Applications Revenues By Verticals, $M:
FarEye Revenues By Region, $M
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FarEye Direct vs Indirect sales
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FarEye Customers - Breakdown by Geo, Size, Vertical and Product
No. of FarEye Customers: 160
No. of FarEye Enterprise Applications Customers: x
No. of FarEye Cloud Customers: x
No. of FarEye Cloud Subscribers: 25000
FarEye has 150+ customers across 30 countries and five offices globally. FarEye, First Choice for Last Mile.
FarEye Market Opportunities, M&A and Geo Expansions
In February 2022 FarEye revealed several new capabilities for more environmentally sustainable delivery operations, route optimization, and consumer experience. New capabilities across FarEye’s Intelligent Delivery Management Platform are designed to help customers boost delivery efficiency, enable green fleets, and gain visibility into outcomes of sustainability initiatives.
FarEye’s four new sustainability capabilities have been developed to help both shippers and carriers minimize CO2 emissions throughout their logistics operations, addressing end consumers’ desire to have their online orders delivered on time and with minimal or zero carbon emissions. These features include Green Vehicle Route Planning: Enables customers to design and plan last-mile delivery of products with an intelligent mix of green fleets (cargo bikes, bikes, and foot delivery), to achieve on-time delivery ultimately driving high consumer satisfaction with minimal or zero carbon footprint. Long-Haul Truck Route Planning: Allows carriers to design optimal multi-day, long-haul trucking routes to minimize idling times, avoid roadblocks and reduce fuel consumption. FarEye’s algorithm facilitates long-haul deliveries with multiple drivers to swap driving shifts and meet the legal norms of on-road driving requirements. Carriers can not only achieve sustainable goals but also meet their OTIF targets. Carrier Allocation System: Helps brands select suitable delivery partners for different types of shipments to improve their first attempt delivery rates, minimize delivery re-attempts and damaged goods deliveries, and avoid repeated transport and corresponding carbon emissions. This goes hand-in-hand with a strong focus on ensuring a higher percentage of first attempt delivery rates to build and sustain a loyal customer base. Sustainability Dashboard: Provides a visual representation specifically measuring carbon footprint KPIs for the customer, helping them understand carbon emissions breakdown by mode, route, and carrier. The dashboards are designed to scale to be granular enough to measure package-level emissions. The dashboard also provides the ability to track and control CO2 emissions across all modes of transportation (road, rail, ocean, and air) and benchmark third-party carriers and routes with the least CO2 emissions.
FarEye has expanded operations in the United States and Mexico, including the establishment of Chicago as its North American headquarters. FarEye has also deepened its presence in Mexico to support customers, drive co-innovation with partners and create a Center of Excellence for customers in the Latin America region. Chicago named FarEye North America Headquarters FarEye’s Chicago office in Wacker Drive will support U.S. operations, with plans to have 50% of global field operations-driven out of the office by the end of 2022. Both CEO and co-founder Kushal Nahata, and co-founder and CTO Gaurav Srivastava have relocated to Chicago from India to spearhead FarEye’s global growth.
FarEye to build an innovation hub in Mexico, Latin America has become a fast-growing region for FarEye. To underpin this growth, the company will establish a Center of Excellence to both drive innovation and support local customers. FarEye will invest in customer service teams locally, with a long-term vision to have approximately 15% of the North American customer service team hosted out of Mexico by the end of 2023. The Center of Excellence will be co-managed and co-innovated with FarEye and its partners in the region, to fuel innovation and expanded technology capabilities addressing last-mile delivery while providing a localized and consistent experience for its customers.
FarEye plans to increase its strength by over 1,000 employees in the coming year. Today with 150+ customers, across 30+ countries, FarEye's platform processes over 100 million transactions on a monthly basis, supports more than 25,000 drivers, and is integrated into a network of over two million vehicles, improving billions of deliveries worldwide. The company is on a journey to achieve 100+ million transactions per day by processing petabytes of data.
FarEye Risks and Challenges
Keeping track of the supply chain and logistics challenges is unique. The sudden need to scale during particular festivals, inaccurate addresses, and changing cross-border regulation requirements among others often become a roadblock when it comes to ensuring seamless execution of supply chain and logistics.
FarEye Ecosystem, Partners, Resellers and SI
In January 2022 FarEye has been selected by Microsoft as an Amplification Partner in Microsoft Cloud for Retail. The collaboration empowers and transforms how retailers orchestrate, track, and optimize the movement of goods, enabling enterprises to lower logistics costs while meeting the needs of end consumers. If retailers wish to remain competitive in an ever-evolving landscape, a strong logistics framework with keen attention to last-mile delivery solutions will be the key differentiating factor to help boost customer satisfaction. With the combined capabilities of Microsoft Cloud for Retail and FarEye, retailers can attain: Real-time dynamic routing, Improved operational control, and Branded and consistent customer experience.
FarEye Cloud Infrastructure Insights
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- FarEye Public Cloud and Infrastructure (IaaS)
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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