Borzo, formerly known as WeFast, has launched an upgraded dynamic pricing algorithm tailored for 2-wheeler deliveries to optimize payment structures and ensure the swift allocation of delivery partners for orders. This enhancement aims to improve customer satisfaction, boost delivery partner earnings, and streamline the delivery process.
Optimized Pricing for Short-Distance Orders
The new algorithm is designed to address challenges in order assignments by balancing the earnings structure for delivery partners. Previously, short-distance orders experienced delays in partner allocation due to lower overall earnings compared to long-distance trips. The dynamic pricing system now ensures that short-distance orders are financially attractive by adjusting courier payments based on time efficiency rather than just distance.
By implementing this dynamic pricing model, Borzo is not only offering competitive costs for clients but also ensuring fair compensation for delivery partners. This update aligns with the company’s commitment to refining its logistics technology, making 2-wheeler deliveries more efficient and reliable.
Improved Order Completion and Earnings
Borzo’s latest enhancement significantly benefits MSMEs, D2C brands, and other businesses that rely on hyperlocal delivery services. The integration of the dynamic pricing algorithm improves assignment speed, acceptance rates, and earnings potential for delivery partners. Key benefits include:
- Faster Assignments: The average assignment time for short-distance orders has been reduced to just two minutes, making it quicker for clients to get their orders picked up.
- Increased Completion Rates: The successful delivery rate for short-distance orders has improved from 89% to 93%.
- Higher Earnings for Delivery Partners: By prioritizing short-distance orders, delivery partners can earn more per hour while ensuring quicker deliveries.
Expansion to Other Major Cities
Currently, the dynamic pricing algorithm has been successfully rolled out in Mumbai and Delhi, with plans for further expansion in other metro cities. This ensures businesses and individual customers receive consistent service quality regardless of order distance.
Borzo is also strengthening its logistics capabilities by integrating a supply-centric approach to balance demand and enhance service reliability. The algorithm plays a crucial role in meeting Service-Level Agreements (SLA) with business clients, ensuring faster, cost-effective, and seamless deliveries.
CEO’s Statement on Innovation and Efficiency
Alina Kisina, CEO of Borzo, emphasized the company’s dedication to innovation, stating, “Our goal is to deliver a fast, consistent, and efficient experience to businesses and individual customers, regardless of delivery distance. The dynamic pricing algorithm not only enhances operational efficiency but also ensures fair earnings for our delivery partners. We are committed to supporting our delivery partners by offering a competitive and reliable earning model.”
Future Expansion in Logistics
Beyond 2-wheeler deliveries, Borzo has recently expanded its operations to include 3-wheelers, mini trucks, and tempo deliveries. The company aims to onboard 1,500 additional delivery partners for this segment. Currently, Borzo operates with a fleet of over 60,000 delivery partners across India, catering to the hyperlocal and SME segments.
The introduction of this enhanced dynamic pricing algorithm reinforces Borzo’s commitment to providing a reliable, efficient, and equitable delivery experience for all stakeholders.
