Expeditus drives courier industry forward with launch of interactive trading platform

UK start-up Expeditus (www.expeditus.co.uk) begins trading today
with a pledge to grow the same day courier market by offering courier firms
the opportunity to easily trade spare capacity across the industry over the
Internet. Backed by GBP1.5m funding from venture capital company Consulta, Expeditus has built the world's first real time, interactive trading platform. Utilising intelligent job matching and guaranteeing payment, this total trading solution enables courier companies to enhance their ability to improve customer
service, increase margins and incentivise drivers and riders. Expeditus estimates the same-day courier market in the UK is worth over GBP1bn
a year, with up to 50% wastage as a result of a bike or van completing half of
any journey without a package. The Expeditus system puts this spare capacity
up for grabs, enabling couriers to trade with each other over a secure network
and both pay and get paid for work they undertake. Roy Boniface, Managing Director of Expeditus, said: "The UK courier industry is highly competitive, but there is plenty of scope for sameday couriers to make more of their fleets and build a bigger patch for their businesses. "Expeditus' trading platform will be at the heart of that revolution. It will transform the way courier companies work, giving them more scope, more business and better margins. 'Dead mileage' will be reduced and the industry's customers – UK plc – will also enjoy higher levels of service, which will be extremely welcome." The 'brains' of the Expeditus operation is a sophisticated IT system that users connect to over the Internet; all jobs and capacity matching, tracking, billing and payment are handled by the system, securely and speedily. The Expeditus system is based on a simple financial and operational model, which rewards all parties: — A job is placed on the system by a courier company seeking to trade work, specifying the amount to be paid for the job — A responding courier company accepts the delivery and agrees the amount it will receive to undertake the work – This price is accepted by the courier company offering the job – The company offering the work pays for it via direct debit through the Expeditus system – Expeditus takes a 10% commission on all transactions and settles net payment with both parties on a monthly basis, through its guaranteed payment system. Mark Cairns, former despatch rider and founder of Expeditus, added: "The idea struck me when I was a courier and I'm delighted to be getting it off the ground. What we're doing is the equivalent of putting a central nervous system into a jellyfish." Phillip Stone, Chief Executive, The Despatch Association, the UK trade body for the sameday courier industry, said: "The Expeditus trading platform is a real tonic for the same-day courier industry. It should enable courier firms to build and grow their businesses, generating more jobs, more capacity and more revenues and profits without increasing their overheads. Harnessing the existing capability of the Internet, plus Expeditus' new technology, will really help to drive the courier industry into the 21st century." Boniface commented: "The beauty of the Expeditus system is its simplicity. Courier firms can choose which firms they do – and don't – want to do business with. This gives them complete control over – and confidence in – the system. "The Expeditus system will prove its worth by quickly generating business and delivering results. The market – in the form of spare capacity – already exists, and we are certain the courier industry will welcome this innovation." Courier companies can call 08700 77 77 50 to request an application form. Expeditus, a member-based system, is waiving the enrolment fee and annual subscription until 31 August 2001, saving a total of GBP360. Notes to Editors Expeditus was established in August 2000 to build the world's first interactive trading platform for the sameday courier industry. The model allows courier firms to trade work and capacity on a membership basis, using the Internet. The company is run by people who understand and have worked in the sameday courier industry including, Managing Director Roy Boniface and former courier Mark Cairns, Director of Business Development, who created the Expeditus concept. Expeditus is backed by venture capital company Consulta and is based in the City of London. CONTACT: Simon Hill Tel: +44 (0)20 7838 2695 Justine Bower Tel: +44 (0)20 7838
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