The digital freight booking and payment platform Freightos has launched a new solution for large importers and exporters. The solution aims to unify the increasingly digitalised but persistently fragmented world of global freight procurement, rate benchmarking, and shipment execution. The solution, Freightos Enterprise, is an integrated logistics procurement suite. It aims to bridge annual, quarterly and spot procurement of air, ocean and ground freight. At the same time, the solution aims to offer critical market intelligence required to navigate ongoing industry volatility.
Freightos Enterprise
The product launch, Freightos hopes, will be well suited to the evolving challenges facing the industry today. Logistics professionals are grappling with worsening trade uncertainties, canal closures and highly volatile rates. They are also facing increasing pressure to optimize spend and efficiency across increasingly complex supply chains.
“Enterprise logistics teams are drowning in spreadsheets, emails, and siloed platforms,” said Zvi Schreiber, CEO of Freightos. “The result is higher cost and unreliable supply of imported goods…at a time when resilience is critical. Technology has evolved to address some of these pain points, but in a piecemeal way that doesn’t fully support the entire procurement process. We’ve spent years building the individual pieces of the puzzle, and now we’re bringing them together in a way that matches how logistics professionals work in the real world, creating digital access that truly connects multinational businesses with their service providers to make importing and exporting smoother.”
Organisations have reported that implementing Freightos Enterprise has resulted in a 20% reduction in freight spend through data-backed negotiations. Those users also reported an 80% decrease in email communication around quoting and booking.
Freightos Enterprise combines three modules into a single platform:
Procure
Automated RFQs (Request for Quotes), tender management and contract optimization. These reduce procurement time by up to 90% while digitalising communications with logistics service providers.
Freightos Procure is based on the company’s recent acquisition of Shipsta.
Rate, Book & Manage
Direct digital connectivity to hundreds of carriers, typically through their logistics service providers, for rate comparison, booking, and shipment tracking.
Terminal
Real-time freight market intelligence with newly enhanced contract benchmarking capabilities, leveraging data from dozens of multinational BCOs to provide unprecedented visibility into commercial market rates. Freightos Terminal includes the leading indexes for container shipping and air cargo, Freightos Baltic Index (FBX) and Freightos Air Index (FAX).