Freightos, the world’s leading digital freight booking and payment platform, has officially announced the launch of Freightos Enterprise, which happens to be an integrated logistics procurement suite, designed for large importers and exporters.
According to certain reports, the stated suite arrives on the scene as well-equipped to unify those digitized yet fragmented components of global freight procurement, rate benchmarking, and shipment execution.
More on that would reveal how this procurement platform can be expected to package together annual, quarterly, and spot procurement of air, ocean and ground freight, all while offering critical market intelligence required to navigate ongoing industry volatility.
“Having everything connected – from market intelligence to tender procurement to actual bookings – transforms how shippers operate. Now, teams can focus on strategy, instead of chasing information across multiple systems and endless email chains, saving time and money, and getting goods on shelves with less overhead and more reliability,” said Paolo Galli, VP Group Logistics Operations at Electrolux.
In essence, Freightos Enterprise effectively combined three powerful modules into one exclusive platform
Talk about each one on a slightly deeper level, we begin from Freightos Procure, which will allow users to seamlessly access automated RFQs (Request for Quotes), tender management, and contract optimization, each component capable of reducing procurement time by up to 90%. Not just that, the setup in question can also digitalize communications with logistics service providers.
Markedly enough, Freightos Procure is understood to be a byproduct from the company’s recent acquisition of Shipsta.
Next up, we have the Rate, Book & Manage module, where Freightos brings forth direct digital connectivity to hundreds of carriers, typically through their logistics service providers, for rate comparison, booking, and shipment tracking.
Another detail worth a mention is rooted in the Terminal module. This one is specifically designed to deliver real-time freight market intelligence, along with newly enhanced contract benchmarking capabilities. The module will also bank upon data from dozens of multinational BCOs to provide unprecedented visibility into commercial market rates.
Beyond that, Freightos Terminal includes the leading indexes for container shipping and air cargo, Freightos Baltic Index (FBX), and Freightos Air Index (FAX).
Already in use across a few select customers, Freightos’ new suite has successfully achieved 20% reduction in freight spend through data-backed negotiations, as well as an 80% decrease in email communication around quoting and booking. It has also been able to eliminate communication bottlenecks with logistics service providers.
Complementing that would be the availability of comprehensive visibility right from contract negotiation to final delivery.
Founded in 2011, Freightos’ rise up the ranks stems from digitalizing trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments for global businesses of all shapes and sizes.
The company markedly does this, at present, on the back of various industry-leading solutions like Freightos Marketplace, WebCargo, WebCargo for Airlines, 7LFreight by WebCargo, Shipsta by Freightos, and Clearit.
“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.. 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.”
