FreightWaves SONAR is the industry’s leading and fastest freight forecasting 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’ CFO/COO Spencer Piland noted, “SONAR has been proven time and again to make an operational and financial difference for shippers, carriers and intermediaries. What many SONAR users are asking for now is integration between SONAR and their transportation management systems [TMS], freight matching services, and other third-party services.”
Piland continued, “SONAR was designed with an API-first approach, allowing for easy integration and access to key freight market data within a broad range of FreightTech solutions providers. Ultimately, FreightWaves’ vision is for SONAR customers to be able to obtain key supply chain intelligence in systems most convenient to them to drive decisions across their operations.”
Brokers and 3PLs use SONAR daily
A core group of SONAR users includes freight brokers and 3PLs. Whether the freight markets are up, down or sideways, brokers and 3PLs experience demanding, hectic workdays. Many use SONAR data and analysis to help guide decision-making. These users quickly access SONAR to maximize margins, improve workflows and optimize business outcomes. Using SONAR data, the operations, carrier sales, customer sales teams and management can enhance productivity for an entire brokerage. SONAR not only saves time, it takes the “gut, guess and check method” out of pricing and booking equations.
In addition to accessing SONAR data via API and/or UI, its users can leverage key information like SONAR TRAC spot rates in third-party software. This ensures ease of access for users, saves time, and reduces toggling between applications.
Expanding partnerships and the reach of SONAR in FreightTech
Key SONAR data elements are already available in a number of third-party software services and will soon be available in more. “We have signed several major partnerships over the last few months, and expect several more before year-end,” said Piland.
For the companies whose software is not yet integrated with SONAR, FreightWaves is seeking to establish or strengthen relationships. “As Spencer said, many users want SONAR, their TMS and other FreightTech to be integrated,” explained FreightWaves Senior Vice President of Strategic Partnerships and Execution Amy Hart Phillips. “I’m working with a number of key companies to develop partnerships that provide actionable SONAR data to meet the needs of their customers and prospects.”
Phillips noted that partnerships are already active with Descartes Macropoint, Tai Software and Turvo. In addition, FreightWaves has an agreement in place to integrate with McLeod Software (available in 4Q22) and commitments with Revenova (available in 3Q22) and Zuum on integration partnerships (available in 2H22).
“FreightWaves is excited about the partnerships already created, those in negotiation and in the pipeline,” Phillips said. “For those TMS/third-party software providers that aren’t yet working with FreightWaves or integrated with SONAR, please contact FreightWaves via this link to begin the integration process.” Phillips added, “Brokers, 3PLs and other SONAR subscribers can check with their TMS or FreightTech provider to determine if they plan to integrate with SONAR. You can also contact your SONAR customer service representative to check on the status of your TMS.”
SONAR gives its users current and historical data generated from thousands of exclusive sources representing more than $200 billion of contract freight transactions. SONAR provides actionable market insights so that its users can make day-of decisions from aggregated freight capacity and pricing data. Phillips noted that “SONAR takes the guesswork out of the process and lets users make data-driven decisions.”