Facedrive Inc. (“STEER”), an integrated ESG technology platform, is pleased to announce it has successfully rolled out its Delivery as a Service (“DaaS“) offering with over 200 small and medium businesses (“SMBs“), and is now marketing such services to large big box retailers. STEER’s DaaS offering provides a last mile logistics solution for retailers to offer just-in-time deliveries to end-users. The Company expects the DaaS platform to be a key element of its business and a valuable driver of ESG data, reporting and analytics.

STEER’s DaaS offering has demonstrated operational success, with over 200 local merchants in the Greater Toronto Area and a 99% on-time delivery rate. The Company has also seen many of its customers transition from a hybrid to a full-time arrangement with STEER. Following its success with smaller local vendors, STEER’s DaaS offering is being promoted to big box retailers, some of whom have also expressed an interest for the offering. The Company feels its ESG value proposition, powered by its proprietary EcoCRED carbon offset analytics platform, sets the STEER DaaS offering apart from competitors. In particular, EcoCRED’s capabilities to capture, analyse and report on key ESG data can appeal to socially-responsible brands and larger retailers, who are increasingly conscious of environmental tracking and reporting protocols. 

The global Delivery as a Service market, valued at USD 18.7Bn in 2020, is expected to grow at 18.9% CAGR for the period 2021-2027¹, making it one of the high-growth sectors in today’s global economy. This growth has been accelerated by the global impact of the COVID-19 pandemic and goes beyond food deliveries, spanning nearly all categories of consumer products.  This megatrend presents qualified providers like STEER with a potentially-lucrative opportunity to increase market presence and significantly increase revenues.  

STEER’s DaaS offering leverages the assets and technology developed by the Company through its existing on-demand offerings. Specifically, introduction of DaaS enables the Company to draw on its tech stack, operational expertise, and its existing infrastructure—including drivers—to deliver a nimble, agile, cost efficient, and customizable product. STEER’s tech-driven delivery management software integrates directly with the merchant’s Point of Sale (“POS“) solution and provides visibility, KPI controls and data processing. Moreover, STEER leverages its built-in data science algorithms to analyse daily demand cycles for each individual offering and to streamline resource allocation. In the future, this data will be utilized to identify cross-selling opportunities within the STEER platform and provide customers with analytics, metrics and data that quantify their carbon reduction efforts.

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STEER’s DaaS offering also capitalizes on synergies with its existing on-demand services through a shared driver fleet. For drivers, this means potentially higher earnings through an additional revenue stream, minimized idle time, and the convenience of managing fewer apps on their phone. For the Company, introduction of the DaaS functionality results in greater operational efficiencies through unified driver acquisition, training and optimized marketing spend across the platform. The Company feels these operational efficiencies will translate into economies of scale as STEER’s DaaS onboards more vendors and launches operations in new geographies.

“Delivery as a Service represents a natural evolution for our Company. Having built significant assets and expertise in the mobility and food delivery segments, it is important for us to leverage our existing assets to enter a growing market space. It allows us to grow incremental revenues in the near future while not increasing costs at the same rate. We have confirmed the demand during our launch with over 200 small and medium vendors and are now focused on large retail customers. With the launch of DaaS, STEER’s vision of creating a one-stop shop ecosystem for an environmentally-conscious B2C and B2B consumer has come a step closer to fulfilment”, said Suman Pushparajah, Chief Executive Officer.

Source: Facedrive Inc.