HUNTINGTON BEACH, Calif., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Tai TMS (Tai), a fully integrated, broker-friendly platform for freight management, and FreightWaves’ SONAR data intelligence tool, continue to empower freight brokers and 3PLs to make more informed quote decisions amidst current difficult market conditions. The integration provides Capacity Lane Scores directly within Tai’s comprehensive logistics intelligence system, providing visibility into the most up-to-date market data and trend directions.
Since the SONAR integration first launched in March 2022, Tai’s one-stop Truckload Quoting page provides users with an instant view of Capacity Lane Scores which rank current capacity trends on a 0-100 scale (with 100 indicating the tightest capacity) for any given lane. Additionally, brokers can see whether a Capacity Lane Score is increasing, indicating tightening capacity and increasing rates, or decreasing, meaning that capacity is loosening, and rates will likely drop. This data allows brokers to strategically decide when to request rate quotes and from which lanes, lowering costs and improving profitability.
“Our integration with SONAR is invaluable for brokers navigating tightening and loosening markets like we’ve seen over the past year, including the loose market we’re currently experiencing where it can be difficult to source carriers,” said Sean McGillicuddy, VP of Sales & Marketing at Tai. “Providing SONAR data like current capacity trends and price averages directly and instantly within the Tai Truckload Quoting dashboard gives brokers the actionable market insights they need without ever having to leave their TMS platform.”
The SONAR integration is one of Tai’s 500+ tool integrations that fully automates the FTL lifecycle, allowing brokers to go from quote to delivery without manual intervention. Capacity Lane Scores translate tender volume and rejection data into a relative measure of market capacity. A unique algorithm is used to produce these scores by detecting structural market pattern shifts and volatility in load balance and tender rejection levels. SONAR uses high-frequency data from a consortium of companies following standardized protocol to provide market insights in freight pricing. With constant market swings and disruptions in the past few years, Capacity Lane Scores unlock key SONAR data directly within the TMS platform, allowing freight brokers to anticipate market trends in the same platform where they find coverage.
“As the industry’s most comprehensive freight forecasting and analytics platform, SONAR’s core mission is to bridge the gap between data and decision-making,” said Amy Hart Phillips, Senior Vice President of Strategic Partnerships and Execution at FreightWaves. “Our integration of Capacity Lane Score trends data in Tai has given more brokers access to this data and that visibility makes a very real impact on their ability to make informed decisions.”
Read here for more information on Tai’s integration with SONAR: https://sonar.freightwaves.com/sonar-demo-request?utm_source=TAI
About Tai Software
Tai TMS is an all-in-one domestic freight management system for full truckload and LTL shipments. Tai gives your team unmatched speed and scalability with automation implanted into every phase, along with direct integrations to carriers, load boards, and capacity tools.
Tai Software's core group of developers and freight industry experts has helped freight brokers scale growth for over 20 years. We are dedicated to introducing unique, envelope-pushing, instantly accessible products to the transportation management industry. We believe in perfecting our existing products and expanding only when we can meet our own highest standards. Our lean organization allows us to focus on continuous innovation to ensure our customers are always empowered with the most cutting-edge software.
About FreightWaves SONAR
FreightWaves is a price reporting agency (PRA) focused on the global freight market and the leading provider of high-frequency data for the global supply chain. FreightWaves’ price, demand, and capacity data allow customers to benchmark, analyze, monitor and forecast the global physical economy.
FreightWaves’ flagship SaaS product, SONAR, offers billions of data points on the global logistics industry, updated daily. The platform is used throughout the industry by capacity providers and organizations that contract with capacity providers to make informed and efficient decisions about how to route, manage and forecast their supply chains. For more information, visit www.sonar.freightwaves.com.
Media Contact:
Tyler Thornton
LeadCoverage
tyler@leadcoverage.com
