GT Nexus adds ocean contract and analysis software

GT Nexus adds ocean contract and analysis software    Alameda, Calif.-based GT Nexus has introduced software designed for shippers to manage ocean contracts and analyze performance for global ocean transportation.
   The information technology firm said global companies invest significant time and resources to manage the annual procurement and negotiation of ocean freight contracts, and then to optimize those contracts to reach the ideal mix of cost and service for their business.
   “However, the benefits of all that work can evaporate unless the enterprise implements an integrated system and process to manage those contracts going forward, and measure how their service providers are executing against the plan,” said John Urban, president of the company.
   GT Nexus said its contract management and performance analytics provides:
   * Support and workflow tools for standardizing the customer’s ocean transportation agreements and uploading them to the GT Nexus system.
   * A central database and hosted software applications for managing and updating “digitized” carrier contracts going forward.
   * Collaboration tools enabling companies to share contract data with partners who tender and manage shipments on their behalf, such as freight forwarders.
   * “Analytics” for measuring global transportation network operations, such as carrier volumes and capacity commitments, plan exceptions and their financial impacts, and partner service performance.
   * Freight bill auditing tools that compare actual charges against contracted rates.
   By capturing booking, freight bill and shipment status information, the IT firm said it can run a host of “plan vs. actual” reports and analytics that give customers insight into the performance of their global transportation network and where the gaps are.
   Its “managed service” system does not require investment in software and is accessed through a simple Web browser.
   After setting up the GTN multicarrier booking portal several years ago, GT Nexus has increasingly turned to the development of software for shippers.