North American railroad companies are facing the need to innovate. Whether as a means to find new growth opportunities, to cut costs, or to increase productivity, railroads are actively asking for more innovation in maintenance-of-way and inspection equipment. In the rail industry, there are better ways to stop the leaks that often occur naturally within the revenue pipeline.
A focus on efficiency will become increasingly important as railroads hit capacity limits on significant portions of their main line (principal route) networks. For the first time in decades railroads are facing new network investment requirements: adding mainline trackage, removing network bottlenecks and implementing federally mandated positive train control (PTC). These capital requirements are expected to run into hundreds of billions of dollars and railroads must attain greater efficiency from their asset base.
Improving revenue traffic mix and revenue yields will continue to be an industry focus. Railroads will see more money flow to the bottom line by looking for ways to minimize revenue leakage within all interrelated functions. Inefficiencies in individual functions or weak coordination across the board can lead to lost revenue. Nonetheless, it is possible to find critical leaks and stop them permanently. The result will be more value from existing assets as well as better positioning for long-term growth.
ProKarma engages US Class 1 Railroad companies to eliminate inefficiencies in their sourcing by streamlining processes and creating workflows which enable zero surprise operations. We have built robust tracking systems for sourcing functions, completed full-fledged consulting projects to discover Business Process and IT inefficiencies and provided recommendations which bring value for years to come. Class 1 Railroads continue to partner with ProKarma to eliminate inefficiencies and increase productivity resulting in stronger revenue pipelines. We specialize in cutting-edge technology solutions and highly efficient business processes to help the railroad industry gain efficiencies and improve operating ratios.