CASE STUDY

How Kargo reduced operational expenses by 28% with deeper financial visibility

  • Launched in 2018, Kargo is the leading online marketplace for freight transportation in Indonesia
  • Kargo raised US$7.6M in seed and US$30M in series A, and currently has 200 employees
  • The company is servicing global brands like Unilever, Coca Cola, Shopee, Maersk, among others

Improved time-to-insights

Reduced time to insights from 14 days post book close to 2 days

Enhanced visibility

Built direct visibility from 200 to 8,000 rows of General Ledger data across 200+ accounts

Improved cash flow

Identified negotiation opportunities for 50+ vendor contracts

The Challenge

Time required to generate financial performance insights

Visibility into numbers

Cost negotiation with vendors

Kargo has carved out a niche in the vast Indonesian logistics and trucking sector, which accounts for a staggering 25% of the country’s GDP. As an online marketplace, Kargo bridges the gap between logistics partners and customers, aiming to foster transparency and accountability within Indonesia's supply chain. However, they wanted to improve their financial reporting process to reduce redundancies and manual effort.

Kargo's finance team found themselves investing an average of 35 man hours every month on the Financial Planning & Analysis (FP&A) cycle, post-book-close. This involved extracting financial data, deriving insights, and pinpointing potential areas to improve financial performance. The time taken to generate insights from the General Ledger (GL) was far from ideal.

Time required to generate insights

The team needed a more detailed and efficient FP&A process. They had to manually comb through thousands of rows of financial data to answer crucial questions around costs, post-book-close. This tedious process was not only time-consuming but also impacted decision-making.

Moreover, exporting data from their accounting software (Xero), for analysis, required two different sessions, each taking a couple of hours.The overall FP&A cycle, which took approximately 2.5 weeks, was in need of acceleration.

Visibility into numbers


Kargo's executive team required deep visibility into their numbers. The default view of their P&L only provided 100 rows of summarised data, leaving a wealth of information unexplored.

They needed to expand their management resolution to the full general ledger but with 8000 GL rows, it was a daunting task. This lack of visibility not only hindered their ability to make informed decisions but also made it challenging to communicate financial information to other stakeholders within the company.

Cost Negotiations with vendors

These challenges were further compounded by the need to negotiate, track, and manage over 500+ vendors regularly. Their accounting software did not provide deep insights into vendor and transaction-level details.

Kargo was missing out on opportunities to negotiate cost-efficient deals with vendors, which in turn affected the cash flow cycles and delayed month-end consolidation. With the goal of profitability, the company needed to stay agile, negotiate payment terms with vendors, budget accurately, and communicate their financial strategy to external stakeholders efficiently.

The Solution: How Bunker Helped

In October 2022, Kargo turned to Bunker's intelligent FP&A solution for a comprehensive, fast, accurate, and in-depth overview of its finances. Bunker processed transactions from Kargo's general ledger, providing complete financial visibility in mere minutes.

With a single click, Bunker offered a deep-dive into Kargo's expenses, including an intuitive P&L dashboard that the finance team could easily sort by actuals and variances.

We deployed Bunker to deep-dive into our financial strategies, build our financial narrative and feel more confident in preparation for fundraising.

Tiger Fang, CEO, Kargo


Bunker helped us understand key metrics behind general ledger line items including vendor spend trends, variances, and vendor count in one quick glance,” said Tiger Fang, CEO, Kargo “It also helped us avoid oversight and improve our accounting and financial close processes.”


Our finance team found it difficult to get visibility into finances and had to comb through complex data to get needle-moving insights. It caused a lot of frustration,” says DeCosta, who has been part of Kargo’s phenomenal growth journey

Bunker delivered impact through surgical cost savings, superior cash conversion cycles, and intelligent, dynamic budgeting.

John DeCosta, VP of Finance, Kargo,

Impact: Key Results

  • Reduced vendor spend by 20% through strategic negotiations  
  • Decreased marketing spend by 40% within six months of using Bunker
  • Negotiated 60+ vendor contracts, with the help of vendor insights
  • Gained transaction-level visibility into 8000 rows of financials through Bunker’s intuitive dashboard
  • Built a stronger financial narrative via deep financial insights


Within months, Kargo gained complete visibility into key financial metrics through dashboards and received insights delivered to their inbox through monthly reports. This helped them communicate their financial narrative with stakeholders more effectively.

With Bunker's help, Kargo negotiated over 60 vendor contracts and reduced its spend by 20% through strategic negotiations. Their marketing spend also dropped significantly by 40%.

Bunker's financial dashboards, with vendor and transaction-level drilldowns, provided Kargo's leadership with complete financial visibility that could easily be communicated to stakeholders. It also saved their finance team countless hours of manual effort in extracting data. As Kargo revolutionises the logistics sector in Indonesia,

Bunker will continue to be instrumental in accelerating their growth and enhancing the efficiency of their FP&A process.

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