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A lot can change in a year, particularly in the world of business. Take Tasman Logistics as a case in point. When The CEO Magazine last spoke to the company’s CEO Ivan Vanis, the company was on the look-out for acquisitions but had not yet found the right company.
But the last year has delivered the goods, with Tasman snapping up not one but two logistics businesses in that time – Ryans Group in June and the other yet to be disclosed.
Together, the deals have taken the company northwards of US$195 million in revenue, with a head count of more than 900 staff across the country, marking a hefty rise on the 400 it counted in its ranks just one year ago.
“We have acquired additional infrastructure assets in Toowoomba and Port of Brisbane as well as growing our footprint in Adelaide and Sydney,” Vanis says.
These new developments come on the back of a period of organic growth which saw Tasman double in size before these new acquisitions were made.
“Through organic growth and acquisition we have added a new batch of amazing people to our business who have adapted extremely well to our ‘can-do’ culture and fun workplace behavior,” Vanis says.
As part of this expansion, Tasman has restructured its executive team, with Ben Overman promoted to the role of COO and Kat Attana stepping up as CCO.
“With our acquisition of Ryans Group, we have also added Mark Reeves as the new Group CFO,” he adds.
These are important moves for Tasman, with Vanis a long-term believer that the key to providing the best quality services lies in hiring the best people and treating them well, with competitive salaries as well as bonuses, entertainment and a few nice lunches thrown in for good measure.
But has all this activity drawn Tasman’s attention away from automation, which it was so focused on during our last conversation? Vanis’ answer is a resounding no, although he admits the focus has somewhat shifted.
“These projects are still ongoing, however our focus has moved to AI and automation of repetitive tasks,” he explains. “Our AI system is working remarkably well in the back end of our business providing efficiency in our operations via route planning, utilization of equipment and human capital.”
He reveals that this system has also been instrumental in clamping down on the “empty running” of its vehicles. It has also provided Tasman’s sales teams with the data required to target specific customers, rather than simply “onboarding just any new business”.
Such applications of the latest technology help to keep Tasman at the forefront, with Vanis clearly passionate about their potential along with the wider uses of AI and deep learning within the logistics space.
“We have hired a superstar CTO to lead this project which a team around him to ensure there are no gaps in our business and that all the information and data we capture is used in a positive manner to benefit our customers and our business as a whole,” he says.
CTO Jason Rogers joined the team in September 2023, equipped with a raft of experience driving innovation within the logistics sector. The company has also developed a productive relationship with Victoria-based IT consultancy BM Technology Group, which is helping to drive it forward in this ever-evolving area.
As Tasman seeks to stay on top of the latest logistics innovations, it is monitoring not only domestic markets but also global ones.
“In the past 12 months we have expanded our operations, albeit in a smaller manner, into the United Arab Emirates, Philippines and Brazil,” Vanis notes. “We are looking at supply chain as a whole rather than just focusing on logistics.”
This includes an emphasis on building strong relationships with crucial partners such as leading semi-trailer manufacturer Krueger Transport Equipment.
It’s an overwhelmingly positive picture as the trials of the COVID-19 pandemic fade into the distance, with Vanis reporting that the majority of disruptions to the business caused by the unprecedented event have now subsided.
But still, challenges are inevitable, and for Tasman it is attracting younger people in the workforce to drive trucks that is proving tricky. But, as ever, Vanis has a plan.
“We are working with various associations to ramp up the volume of female drivers and younger drivers in general with exceptional training programs and career paths in our business,” he says.
As Tasman works on a third acquisition over the coming months, maximizing organic growth from the new customer base generated by its recent deals is also a priority. This, Vanis plans to do through cross-selling services and by providing a high caliber of service.
“We have an amazing team of problem solvers in our business which is extremely beneficial to our customers as we don’t rest until things are running at the highest possible service levels,” he says. “With this ability, it has allowed our business to be selected for large logistics projects in the Philippines and beyond.”
Building on this growing global presence, in January, Tasman revealed a new joint venture with Aviva Prime Philippines to launch integrated supply chain company Aviva Tasman Corporation. The new partnership will source food products from farmers and distribute them across the Philippines, using their combined facilities and logistics network.
As to what the next year holds for Tasman, it’s definitely a case of watch this space. The Australian freight and logistics market is expected to total US$94.10 billion in 2024, but it’s a number that is forecast to grow to US$113.94 billion by 2029, with Tasman set to help drive this upwards trajectory.
“We have exceeded all of our organic growth plans and, with the acquisitions combined, we are beyond our planned revenue and profit forecast, which is an amazing place to be,” Vanis says.
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