Magaya Closes Successful Third Quarter 2023
Miami, FL October 10, 2023 – Magaya Corporation, the leading provider of logistics and supply chain automation software, today announced impressive revenue and bookings growth for the third quarter ended September 30, 2023.
Surpassing year-over-year third-quarter revenue by 20%, Magaya maintains its strong growth trajectory as it heads into the final quarter of 2023. Strong retention across a diverse customer base combined with a solid fourth-quarter pipeline has positioned the company in line to hit its FY 2023 sales target.
Logistics service providers are facing a softening freight market with falling volumes and rates, making it imperative to find new efficiencies, keep costs in check, and nurture loyal customers. The automation and digitization capabilities of the Magaya Digital Freight Platform enable businesses to do just that, helping them save time, lower operating costs, and provide customers with world-class customer service.
Business highlights for Q3 2023 include:
- Added 34 new logos in Q3, including SEALAB Logistics, M&G Worldwide Logistics Services Inc., and many others
- Announced a cloud platform modernization on Amazon Web Services, Inc. (AWS). in partnership with Thoughtworks
- Signed strategic partnerships around the globe with Sicon CRM, EightyDays, and Lading Corporation
- Released a new AWB tracking feature connecting CargoAi with Magaya Supply Chain
- Released Flow WMS 2.1, introducing several improvements to pick and load operations
- Maintained its Leader spot on the G2 Grid Reports for Warehouse Management and Supply Chain Suites
“Experience has taught me that challenging market conditions can often provide remarkable business opportunities,” said Gary Nemmers, Magaya CEO. “Although demand for shipping services has softened in recent months, opportunity still abounds for logistics service providers that play their cards right. Magaya solutions provide the ideal platform for growth, enabling the visibility needed to make proactive strategic decisions, unlocking new efficiencies with automation, and putting the customer at the heart of the business. These are the building blocks for healthy growth regardless of market conditions.”
Magaya delivers a Digital Freight Platform that accelerates growth with flexible, interoperable, and modular cloud-based solutions designed to optimize and digitize the entire logistics operations and customer experience. Whether used together as an integrated digital freight platform or independently, Magaya solutions enable businesses of all sizes to streamline complex and redundant processes, enhance the customer experience, optimize productivity, reduce costs, and grow revenue. At Magaya, we are passionately devoted to ensuring our customers’ success through our innovative technology and comprehensive array of related professional services. We take great pride in our people, experts in the field of logistics automation, who are always willing to go the extra mile for our customers. There are no limits to your growth with Magaya.