FreightWaves, an industry-leading provider of data, analytics and news for the global supply chain and logistics industries, has announced that its TRAC spot rates have been integrated into FreightFriend, a truckload procurement platform.
This integration is now live and available to mutual customers.
“At FreightFriend, we look to provide our clients with accurate, real-time information to make sure they are working with the best fit carriers at the best rates,” said Noam Frankel, founder and CEO of Freight Friend. “The SONAR integration will provide valuable pricing information to our brokers and shippers, further enhancing their ability to drive digital execution with partner carriers at current market rates.”
Chicago-based FreightFriend is a data-powered truckload procurement solution that helps shippers, brokers and carriers build and manage relationships in a trusted ecosystem, then match the right capacity to the right freight.
The software solution includes a carrier relationship management (CRM) platform, auto-communication of ranked freight matches to carriers with digital execution, new carrier sourcing, and a Mini-Bid tool to capture consistent capacity for contract freight.
“Feedback from our customers has included a desire for price transparency and we are thrilled to share with them the SONAR integration — one more feature making FreightFriend an invaluable tool to them and their teams,” said Taryn Daker, director of customer success at Freight Friend.
FreightWaves, founded in 2016, has become the nerve center of global supply chain intelligence, specializing in high-frequency fundamental freight market data.
FreightWaves SONAR is the industry’s leading and fastest supply chain data platform. SONAR provides the clearest insight into freight pricing, and subscribers can reliably forecast supply chain demand and capacity by using spot rate and tender data for predictive rates.
FreightWaves’ COO/CFO Spencer Piland added, “FreightWaves SONAR has long believed that supply chain decisions are improved with fast and accurate data. Our partnership with FreightFriend allows mutual customers to access our data in the systems they use most on a daily basis, reducing the number of links between analysis and action.”