Tachyon Announces New Venture with Alfanar
Riyadh, Saudi Arabia (November 1, 2022)
the energy industry, mainly the manufacturing of electrical construction products. Senior officials from Tachyon underline that this marks a key step in its continued expansion, since it began operation earlier this year, particularly as it prepares for its second round of investment.
Currently, the global digital logistics market size is predicted to exceed $46 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 21.7%. The increased digitization of a variety of industries as a result of the pandemic
has accelerated its growth, with automation becoming an increasingly prominent part of the logistics sector. For instance, the worldwide logistics automation market has the highest CAGR of any supply chain market, with an expected rate of over 12%.
Saudi-based firm Tachyon is helping all stakeholders in the logistics supply chain to integrate automation as a means of streamlining their operations. The company utilizes machine learning and algorithms as a means to help shippers,
brokers, and carriers to manage their transport services. As a cloud-based platform, Tachyon requires no set-up and offers an entirely digital answer to problems being experienced by global supply chain disruptions, which have become increasingly common in recent months.
The firm’s newly announced venture with Alfanar will see Tachyon working with Alfanar to help bolster its manufacturers’ supply chain management capabilities. With crucial support from the Saudi Vision 2030 initiative, Tachyon is accelerating logistics digitization throughout the Middle East and North Africa (MENA) region.
For example, the Tachyon platform brings together all aspects of companies’ logistic operations into a ‘one-stop shop’, regardless of whether these operations are being outsourced or conducted in-house. For transporters, the digital platform helps to tackle problems such as low return-on-investment (ROI), revenue volatility, and limited technological expertise. For shippers, the platform tackles pricing variability, complicated and manual booking processes, and limited choice of transporters and trucks.
In addition to this, the platform utilizes automation to make invoicing more effective, with senior officials from the firm highlighting Tachyon’s plans to introduce blockchain technology in 2023 in order to enhance the security and transparency of all aspects of the supply chain.
“We’re delighted to have business with Alfanar, a company with a global reach and recognition. This collaboration is testament to both the rapid growth that we have experienced so far, having launched in January 2022, as well as our potential to continue accelerating this expansion throughout the MENA region and beyond,” concludes Abdulrahman Ijaabo, Co-Founder and CEO of Tachyon.