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- In light of the COVID-19 operating environment, Yojee (YOJ) has seen an uplift in interest and agreements from new clients
- The cloud-based logistics company has experienced a surge due to the increased need for digital connectivity
- Yojee has signed two agreements with Magic Hand Car Wash and Singapore-based Hub Express
- These new clients have taken an interest in Yojee’s Dispatch offering which can be customised to suit the needs of every customer
- Yojee also reports it has just under $6 million in cash, has no debt payments and will not need to raise capital during this year
- Yojee is up a healthy 16.7 per cent and shares are trading for 2.1 cents each
In light of the COVID-19 operating environment, Yojee (YOJ) has seen an uplift in interest and agreements from new clients.
Yojee has noted a surge in visitor traffic on its website, which signals online interest and the need for technology in these recent conditions.
The cloud-based, Software-as-a-Service (SaaS) logistics company attributes the uplifting interest to companies seeking digital solutions and increased capability across supply-chains.
These clients have taken a particular interest in Yojee’s Dispatch module. This offering is designed to improve end-to-end supply chain visibility, ensure accountability and allow users to control and initiate decision making.
Dispatch customers
The Dispatch customer agreements are based on monthly subscription and transaction volume fees which are customised to each customer’s business model.
Hub Express
Hub Express Singapore has signed a two-year Dispatch SaaS agreement with Yojee to support its industry-leading clients.
Established in 1989, Hub Express is a logistics company that provides holistic, end-to-end solutions.
“We are an innovative company supporting some of the leading brands in Singapore through a focus on best in class customer experience and reliable service,” Hub Express Director Andy Ea said.
“After looking around the market, Yojee became a clear leader in supporting us with our ambitious objectives,” Andy added.
Magic Hand Car Wash
Leading franchise Magic Hand Car Wash has signed a 12-month Dispatch SaaS agreement with Yojee to streamline various business processes. These include areas of automation and optimisation powered by Yojee’s artificial intelligence capabilities.
Yojee’s platform will deliver customer-focused process improvements such as “pick up and delivery”, whereby customers can see washing availability and can easily
make bookings and payment through an order function.
Franchisees are able to run and measure their performance of the ‘pick up and delivery’ service using Yojee.
Magic Hand Car Wash is considered by some as a pioneer of the car wash, with a cafe customer-focused business model. Since 1994, the franchise has washed over 10 million vehicles.
“Yojee’s platform, through undertaking its advanced core functionality, can be deeply integrated into the business, making us uniquely positioned to optimise, improve business processes and ultimately end-customer satisfaction,” Yojee Managing Director Ed Clarke said.
Funding position
Yojee maintains a strong funding position and $5.9 million in cash as of the end of March 2020. The cloud-based company also has a simple capital structure without any debt or the need to raise funds during 2020.
“We continue to maintain a healthy balance sheet and operate our business as usual for existing clients and undertake ramp-up activities as planned,” Ed concluded.
Yojee is up a healthy 16.7 per cent and shares are trading for 2.1 cents each at 3:15 pm AEDT.
