Logicbroker is a cloud-based drop-ship software that allows retailers to connect with vendors and manage their inventory, pricing, and order fulfillment.
By tapping into $135M in funding, they have advanced their software and made shopping easier and more efficient for customers.
In this article, we will explore how Logicbroker’s software works.
What is Logicbroker
Logicbroker is a cloud-based proprietary software platform offering multi-channel retailers and wholesalers drop-ship, inventory management, and fulfillment services. With secure, trackable integration, Logicbroker’s technology helps customers manage all aspects of the order fulfillment process while seamlessly supporting the ecommerce business activities within an intuitive user interface.
The company recently announced that it has secured a $135M investment in capital from prominent investors such as Singapore’s Temasek Holdings and Scale Venture Partners. Logicbroker will use this injection of funds to accelerate product development and expand its global presence.
Logicbroker provides features such as inventory management, order synchronization, supplier integration, 3PL integrations for better shipping options, business intelligence dashboards with predictive analytics to identify prospective improvements and audits that help ensure data accuracy & availability. In addition, the software includes an Online Marketplace Integration (OMI) suite that allows businesses to convert large marketplace orders quickly into drop ship orders.
The software facilitates smooth operations between retailers and their suppliers. At the same time, they are connected through immutable and encrypted blockchain processes, meaning they can’t be altered or substituted after being recorded into a ledger. In addition, using proprietary technology such as HyperBatch 3D screening process and advanced analytics techniques ensures order accuracy at scale without compromising performance levels. This ensures trust between suppliers and customers by delivering products on time with robust auditing capabilities for improved transparency across all entities involved in the supply chain.
Overview of Logicbroker’s Software
Logicbroker’s cloud-based drop-ship software is designed to help businesses manage the entire drop-shipping process from start to finish. With its recent investment of $135M, Logicbroker’s software has become even more advanced and feature-rich.
In this section, we will discuss a brief overview of Logicbroker’s software and how it works.
How Logicbroker’s cloud-based drop-ship software works
Logicbroker’s cloud-based drop-ship software, recently awarded $135 million in federal funding, allows a business to better manage its supply chain by automatically exchanging product data between buyers and suppliers.
This software allows sellers to set up an online storefront or product catalog with all their items listed as separate SKUs. Then, when someone orders one of these products, the system automatically transmits the order data to the supplier responsible for fulfilling it. In turn, the supplier will fulfill the order and then update the system with information such as shipping details, tracking numbers and invoices so that both parties can see what is happening in real-time.
This streamlined process simplifies the supply chain and eliminates any miscommunication between buyer and supplier while also providing businesses with access to opportunities they may not have previously been able to take advantage of due to manual processes or market segmentation.
Logicbroker’s software provides buyers and suppliers with accurate details on inventory levels, available shipping options and orders that can be checked on demand. Additionally, it enables businesses to efficiently manage returns and cancellations across multiple entities through automated processes that eliminate costly overhead or labor costs associated with manual handling of transactions.
Their cloud-based drop-ship software allows businesses to simplify their supply chains while also providing a competitive edge by leveraging advanced technologies such as artificial intelligence, machine learning algorithms and advanced analytics tools.
Benefits of Logicbroker’s software
Logicbroker’s cloud-based software was developed to provide online retailers with an effective drop-ship management solution. The software is designed to bridge the gap between retailers, manufacturers, and distributors by simplifying process flows and optimizing inventory movements in the supply chain. Through its advanced integration with modern web technologies like EDI, APIs, CSV/Excel and other sources such as ERPs, Logicbroker offers a unified platform that enables real-time information exchange between organizations.
This integrated solution allows retailers to stay ahead of the curve by automating tasks such as order routing, price checking, shipping, etc. Benefits of using Logicbroker include:
- Improved accuracy and reliability throughout the system.
- Faster fulfillment times.
- Fully customizable purchase orders matched with managed invoicing for different supplier types.
- Complete visibility into the entire eCommerce supply chain.
- Improved customer experience.
- Reduced risk of errors or complications arising from manual processes.
- Enhanced data quality and accuracy through validation rules.
- Comprehensive automation delivery reports including up-to-date inventory levels.
- Improved partner collaboration among business entities through digital contracts management system.
- Easy workflow management for optimizing dropship operations.
Other benefits include real-time tracking of dropship related activities through a single dashboard enabling proactive decision making based on historical performance analysis results. Furthermore, utilizing this cloud enabled browser-based solution helps reduce IT overhead associated with maintaining custom software development environments while giving businesses access anytime they need it.
Logicbroker taps into $135M to advance cloud-based drop-ship software
Logicbroker recently secured funding of $135 million to advance its cloud-based drop-ship software. This technology allows retailers to connect with global supply chains and to coordinate digital inventories with suppliers. This investment is a huge boost for Logicbroker, but how does the software work and how does it benefit retailers?
Let’s take a look.
How Logicbroker tapped into $135M to advance their software
Logicbroker recently closed a $135 million Series C funding round, led by Grotech Ventures and providing capital for the company to continue developing its cloud-based software. This impressive strategic investment places Logicbroker in a prime position to capitalize on emerging e-commerce trends and support rapid growth.
Logicbroker offers an innovative solution for retailers who utilize third-party dropshipping for their e-commerce operations. Logicbroker’s software platform automates the connections between vendors and retailers to streamline communication, track inventory and orders, monitor payments, reduce shipping costs, and promote enterprise visibility. This allows dropshipping partners to have complete control over fulfillment and distribution without manually managing each order individually.
The new funding will enable Logicbroker to rapidly expand its partner network with retailers like Costco, Target and Walmart while extending current integrations with popular eCommerce solutions such as Shopify Plus, Amazon Seller Central and more. In addition, the capital will also be used to support existing solutions such as ediCommerce (for global B2B), Coupa (for easy digital settlement), Elevon AI powered data management suite (to manage data across global retail networks), TrueSource 511 (which helps globalizable clients in getting all required international identity documents quickly) etc, further enhancing the value proposition of
Logicbroker’s Partner Network platform.
This successful round of funding is indicative of the increasing demand for cloud-based services within the commerce landscape. With this new wave of capital behind them, Logicbroker is well positioned to become the leader in cloud based drop ship software solutions.
How Logicbroker plans to use the funding
Logicbroker recently secured $135 million in funding to continue advancing its cloud-based drop-ship software. This will allow the company to better access the e-commerce retail space, allowing its customers access to a new platform of options while remaining integrated with their current retail vendors.
Logicbroker plans to use this funding to expand their product offerings and deliver greater automation and scalability for multi-retailer supply chain management. In addition, the company hopes that this technological advance will enable retailers, distributors, and manufacturers to improve their order fulfillment capabilities and offer faster delivery times for the consumer.
Additionally, Logicbroker plans to leverage the investment funds for development in automated processes such as:
- Automating vendor approvals and onboarding
- Increasing inventory synchronization speeds
- Enhancing package sizing optimization
- Utilizing AI/machine learning technologies
- Creating more efficient order processes
- Developing a mobile application
These developments aim to create an even higher level of automation than what is available presently, allowing orders faster processing time with improved accuracy and customization by retailers and consumers.
Conclusion
Logicbroker’s advanced cloud-based drop-ship software has helped revolutionize how businesses can manage their inventory and supply chain needs. With its automated system, Logicbroker’s technology helps to streamline processes and cut costs, while providing comprehensive visibility into inventory and orders.
Through its recent investment of $135M, the company is poised to continue to expand its reach and further enhance its software.
In conclusion, Logicbroker’s cloud-based drop-ship software offers a valuable solution for businesses to better manage their inventory and supply chain needs.