Step 3 - Introducing Wise Tech Global Technology

"We focus on the deep and persistent pain–points of logistics and are system thinkers, with a track record of delivering globally relevant software solutions.”

I was quite interested to see which company I would be assigned and whilst logging onto moodle and scrolling down the spreadsheet, I was amazed at the number of people enrolled. A quick search and I happened to come across my name and my chosen company, Wise Tech Global. My first thought, technology…. For those that don’t know me well, when it comes to technology, I tend to find myself on the outside looking in. I feel sorry for the IT Technicians at work when they see my name appear on their phone screen! Anyway, I best get back to researching their website and downloading their annual reports, because to be honest, I’ve never heard of them before, but I look forward to learning more about them and what they do.

Wise Tech Global – Background Information

https://wisetechglobal.com/

Wise Tech Global is an industry leading software that helps manage the movement of goods and data across the worlds supply chain. In my own words, Wise Tech Global builds software and technology that logistics companies use and rely upon.

The very first thing that grabbed my attention on Wise Tech Global’s website was that the word united was underlined and highlighted. My initial thought was picturing the company coming together to create a common purpose in delivering relevant software solutions for global logistic companies. I was surprised to read that Wise Tech Global provides solutions to over 15,000 logistic organisations across 150 countries and 50 offices worldwide. Not to mention that they commenced this journey into the Technology industry 25 years ago.

I found their website easy to navigate and source information. As I’m a visual learner, I took to finding a video on YouTube and came across this one which is of great value: https://www.youtube.com/watch?v=184Q1y8pb2Y It clearly explains what Global tech does and their vision.

A few questions came to mind when scrolling through their website: What are their customer’s expectations? Do they meet these expectations? Is this able to be shown in the annual report? What challenges does the firm appear to be facing? What are some of the opportunities the firm is facing?

In 2020, they were classed as a global leader in international logistics software, with their mission to transform global trade, one innovation at a time. According to an article published by the Australian Financial Review on the 19th February, Wise Tech Global is suffering from the impact of the Coronavirus with shares plummeting 27%. The article title read “WiseTech tumbles $2.6b as coronavirus sparks downgrade.” The cause of the shares plummeting is due to the fact that since the Coronavirus commenced, China has slowed down in manufacturing and as a result has impacted the global supply chain. This is relevant and fresh news. It got me thinking as to how Wise Tech Global will be able to maintain their customers’ expectations through this pandemic and how long is it going to last. Are they putting plans in place for the short or long term? Did they accommodate this assumption in their financial statement? Will there be cause for redundancies or lose of customers? I was interested in how Wise Tech Global have been communicating with their customers’ and staff about the latest updates during the pandemic and I happened to scroll across to the news tab on their website. With this discovery, I found what their approach to staff will be and to the communities they operate in and not to mention their assurance to their customers in remaining fully operational. However, with the border controls now in place, will this have any effect on the logistics companies by not being able to transport goods? It really gets you thinking how dependant companies are on others to be able to be fully operational.

Link to article by the Australian Financial Review: https://www.afr.com/technology/wisetech-tumbles-2-6b-as-coronavirus-sparks-downgrade-20200219-p542cr

It also got me thinking on how this relates to my own personal experiences and made me have a greater appreciation for the Supply and Logistics department at work. I know we use SAP as one of our main software programs; however, I must investigate at work how we manage our business’ needs. By working in the agriculture industry, we’re often dealing with farmers transporting mud, ordering equipment for factories, organising transportation of cane and so on. I will endeavour to investigate my query further which will then give me a greater understanding of another area of the business. Now, where were we? Back to focusing on Wise Tech Global. I’m excited to see how Wise Tech Global are operating financially... stay tuned for the summary of the annual report and my findings.

Annual Report

Link to Wise Tech Global’s Annual Reports: https://ir.wisetechglobal.com/investors/?page=annual-reports

After researching the company background of Wise Tech Global, I felt I had a greater understanding to read through their annual reports. At first glance, Wise Tech Global are a profitable business. By looking at the financial statements their profits were higher in 2019 compared to 2018 and this is due to the business receiving a higher revenue. Although the business’ profits increased, their overheads were slightly higher because they were generating more revenue; however, they were able to cover the costs effectively. It is also evident that Wise Tech Global spent more money on developing products to in return increase their revenue in the future. All in all, Wise Tech Global are doing extremely well and are even spending more money on marketing to promote their products. They seem to be getting bigger and bigger each year.

(Image Reference from Website – Annual Report)

My experience with Studiosity

I found the support from Studiosity to be very helpful, especially since the service provides helpful tips to improve your academic writing skills and style. I also found it to be a quick turnaround, with an answer waiting in my emails within the day of submission. It was also easy to find on the moodle site. It also seems that other peers have also find Studiosity to be helpful, and whilst researching one peer found it to be a great tool with correcting their spelling and grammar. I would use the support of studiosity again. Overall, it was a great experience using it for the first time.