Redwood Logistics, certainly one of the fastest-growing supply chain and logistics corporations in North America, announced FreightWaves, the leading provider of high-frequency data for the worldwide supply chain, has chosen Redwood as its integration partner between Oracle Transportation Management (OTM) and the FreightWaves SONAR freight data intelligence platform.
Powered by RedwoodConnect, Redwood’s proprietary integration platform, OTM users can now embed SONAR data directly into their user workflows to reinforce decision-making at the purpose of carrier offers and tendering.
“Redwood’s status as an Oracle gold partner positioned them as a powerful partner for FreightWaves because they’ve the implementation, integration and customization experience with large TMSs mandatory to supply essentially the most value to shippers and logistics service providers and to scale SONAR’s reach,” said Amy Hart Philips, senior vice chairman of strategic partnerships and execution at FreightWaves.
SONAR’s Trusted Rate Assessment Consortium (TRAC) data and market intelligence have primarily been utilized by analysts and other individual users within the FreightWaves SONAR SaaS offering and its suite of API solutions.
The brand new integration between FreightWaves and Redwood puts the data within the hands of TMS end users, operations managers and logistics analysts. Now when users are tendering an order or shipment, they’ll compare their contract and spot carrier rates with current market trends in real time.
Storing SONAR lane intelligence data alongside order and shipment data in Oracle OTM also can open recent avenues for post-analysis and continuous improvement.
Beyond rate benchmarking, users can tap into additional data evaluation from FreightWaves, including the Outbound Tender Rejection Index, Outbound Tender Volume Index, lane capability rating and more.
“Shippers not need to sift through pages of knowledge across multiple screens. All of the information needed to fortify rate negotiations is in a single point of truth,” Eric Rempel, Redwood’s chief innovation officer, said. “By leveraging Redwood and FreightWaves SONAR, OTM customers have access to a cheat sheet of actionable data and market information to barter with. It’s like playing poker, but you’ll be able to see all the opposite players’ cards.”
Current OTM customers can connect with FreightWaves SONAR by following a straightforward integration playbook, with a streamlined onboarding and configuration process that enables users to start leveraging the combination and securing higher rates quickly.
OTM customers desirous about adding SONAR data to their environment can connect with the FreightWaves SONAR team at sonar.freightwaves.com/contact.
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