Redwood Logistics, one of the fastest-growing supply chain and logistics companies in North America, announced FreightWaves, the leading provider of high-frequency data for the global supply chain, has selected 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 enhance decision-making at the point of carrier offers and tendering.
“Redwood’s status as an Oracle gold partner positioned them as a strong partner for FreightWaves because they have the implementation, integration and customization experience with large TMSs necessary to provide the most value to shippers and logistics service providers and to scale SONAR’s reach,” said Amy Hart Philips, senior vice president of strategic partnerships and execution at FreightWaves.
SONAR’s Trusted Rate Assessment Consortium (TRAC) data and market intelligence have primarily been used by analysts and other individual users in the FreightWaves SONAR SaaS offering and its suite of API solutions.
The new integration between FreightWaves and Redwood puts the information in the hands of TMS end users, operations managers and logistics analysts. Now when users are tendering an order or shipment, they can 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 can also open new avenues for post-analysis and continuous improvement.
Beyond rate benchmarking, users can tap into additional data analysis from FreightWaves, including the Outbound Tender Rejection Index, Outbound Tender Volume Index, lane capacity score and more.
“Shippers no longer have to sift through pages of data across multiple screens. All the information needed to fortify rate negotiations is in a single point of truth,” Eric Rempel, Redwoods’ 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 negotiate with. It’s like playing poker, but you can see all the other players’ cards.”
Current OTM customers can connect with FreightWaves SONAR by following a simple integration playbook, with a streamlined onboarding and configuration process that allows users to begin leveraging the integration and securing better rates quickly.
OTM customers interested in adding SONAR data to their environment can connect with the FreightWaves SONAR team at sonar.freightwaves.com/contact.
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