Deloitte and Nexxiot establish KYX

News 13 Oct 2023 by WCN Editorial

Deloitte, the large financial auditing and advisory company and Nexxiot, a leading supplier of tracking devices for the rail and container shipping sectors, have established a strategic partnership that they hope will pave the way for greater levels of digitalisation while improving efficiency and building resilience across supply chains.

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In a statement, the two parties said that KYX, which is the name given to the partnership, will “provide a robust, scalable infrastructure rooted in a strong commitment to regulatory excellence and trust.” Effectively, it combines Deloitte’s established KYC (Know Your Client) services and implementation capabilities with Nexxiot’s cutting-edge asset intelligence technology and trusted CINFONI (Client Information Network Intelligence) platform.

Stefan Kalmund, CEO of Nexxiot, said the new partnership “represented a significant step forward for supply chain participants and would accelerate the adoption of fleet-wide technologies, fostering visibility, transparency, and operational excellence.”

Deloitte’s James Yearsley, lead partner for the transportation, hospitality and services for North and South Europe, agreed: “Through this partnership, we aim to set a new global standard for KYX services, benefitting all stakeholders in the logistics sector, including trade finance, banking, and insurance,” he said. “Deloitte and Nexxiot will offer new services based on real-time data, covering all aspects of KYX from door-to-door, internationally.”

Zurich-based Nexxiot has established itself as one of the largest designers and suppliers of sensors and real-time tracking and monitoring devices in the freight transport sector, with over 1M units in operation. Its clients include Hapag-Lloyd, Knorr-Bremse, VTG, Ermewa, Deutsche Bahn, SBB and several North American railroads.