Everpeaks Launches Integrated Logistics Platform
By Digital News Asia January 15, 2021
- FBE gives impetus to SEA fulfilment automation & M2C commerce
- Targeting US$4mil revenue in 5 years, be key digital economy player
Everpeaks®, a Malaysian based omnichannel ecommerce solutions provider, today launched Fulfilment by Everpeaks (FBE), a duty-free, integrated warehousing and fulfilment solution that facilitates global manufacturer to consumer (M2C) commerce.
The platform integrates marketplaces and websites, while connecting sellers to distributors and consumers, eliminating multiple layers of traditional retail operations and market barriers. This allows global brands to extend their reach by tapping into new markets, providing global sellers with instant Southeast Asian market access as its functions enable the sellers to create, control, and fulfil on-demand B2B bulk orders and B2C orders seamlessly.
The FBE System is a robust technology platform that provides sellers with an omnichannel inventory management feature that is entirely agnostic, as it blends functionalities and is capable of integration with most pre-existing ecommerce suites. It optimises a total system solution that centralises orders, tracks inventory, and automates the fulfilment of orders received, enabling sellers to create shipping plans, send in shipments to the FBE Warehouse, as well as track and monitor shipments.
Located within a Free Trade Zone (FTZ) at KLIA (Kuala Lumpur International Airport), the FBE Warehouse ensures that sellers retain full ownership of stored goods throughout a set tenure based on their selected account plan, allowing them to capitalise on duty-free storage, and only be charged duties when fulfilling orders in the country of a sale. This improves cash flow, and helps sellers better allocate resources for growth, as opposed to inventory being stuck overseas in the form of duty paid.
FBE also provides sellers with the flexibility to increase storage capacity, enabling them to expand sales targets to a wider region. The solution helps sellers meet evolving customer demands and expectations by shortening delivery lead time, increasing fulfilment speed, and reducing OOS (out of stock) issues. This ensures higher customer satisfaction rates that lead to repeat purchases, and higher seller ratings that lead to higher conversion rates, subsequently increasing traffic.
Joachim Sebastian (pic), founder and CEO of Everpeaks said, “The COVID-19 pandemic overhauled consumer purchasing behaviour across the globe with supply chains bearing the brunt. This rise in ecommerce drove a permanent shift in fulfilment and warehouse management technology. Manufacturers today burn through inventories at an accelerated rate, demonstrating the need to maintain healthier warehouse stock closer to their targeted markets for future volatility, as more and more goods experience speedier throughput coupled with a compressed sales cycle.”
”FBE creates a unique offering to help global sellers stabilise the situation, transform the current supply chain landscape, and adjust to new market realities through a reliable technological infrastructure that provides a competitive advantage by increasing seller output multifold, creating a significant impact across markets,” he continued.
FBE facilitates greater cost efficiency by eliminating unnecessary expenses associated with logistic complexities, offering stronger economies of scale. With the consolidation, automation and centralisation of inventory warehousing, fulfilment, integration, and a free trade zone, periodical and recurring administrative overhead can be minimised while enjoying increased efficiency. With a total system solution that removes additional warehousing and administrative costs, sellers will have more time and money to focus on product innovation and satisfy market demands.
“As part of our mission to connect all dots of fulfilment and warehousing, FBE helps facilitate M2C commerce - an emerging business model - as sellers reach consumers directly, eliminating the middleman. Everpeaks aims to be a driving force in Malaysia’s leap into the digital economy to drive shared prosperity, and firmly establish the nation as the Heart of Digital ASEAN,” Joachim added.
With the launch of FBE, Everpeaks® is targeting US$4 million (RM16 million) in revenue within the next 5 years. It is the first Southeast Asian Amazon Service Partner Network Member, the first Malaysian eBay Channel Partner, the first Malaysian Community Partner for Payoneer, and a Partner of DHL Express Malaysia. According to a report by Grand View Research, the global warehouse order picking market size is expected to reach US$11.16 billion (RM45 billion) by 2025.
In August last year, Everpeaks® successfully raised US$341,000 (RM1.4 million) through an equity crowdfunding (ECF) campaign, attracting 48 investors with 25.17% equity offered through Malaysia’s leading ECF platform, pitchIN.