NEWS FLASH: Kuehne + Nagel to use CargoSphere for rate management

The global freight forwarder will use CargoSphere’s ocean freight Rate Mesh network to drive access to more current, accurate rates and quicken its quoting capability to customers.    The cloud-based ocean freight rate management software provider CargoSphere said Monday that the global freight forwarder Kuehne + Nagel (K + N) will use its rate technology platform across its entire organization.
   The move will enable K + N to move to direct ocean carrier rate connections in CargoSphere’s Rate Mesh network, the company’s flagship product that functions much like Facebook in that it allows a company to share its rates with those partners that it wants to, much like someone would “friend” another person using Facebook. The parties then essentially create their own rate-sharing network.
   “Kuehne + Nagel’s digital evolution in seafreight is the ability to receive ocean freight rates and subsequent rate updates directly from ocean carriers for an immediate upload into its centralized rate base in the CargoSphere cloud,” the software provider said in a statement.
   By using CargoSphere, the forwarder also reduces manual processing, gets faster and more accurate access to current rates for quoting to customers, and improved data quality. The software provider also said ocean carriers benefit when customers of K + N have faster access to rates through the network.
   “CargoSphere’s innovative approach to freight rate management is an important component of our digital evolution,” said Thorsten Meincke, senior vice president, global seafreight at K + N. “We share a common vision with CargoSphere that encompasses using technology to improve the time-consuming, inefficient aspects of seafreight rate management.”
   Rate management software has gained significant traction among forwarders of all sizes in recent years as those companies recognize the need to quote rates quicker and more accurately in a landscape where rates are available to shippers in a more transparent fashion. Rate indexes and marketplaces, plus carriers’ ability to quote to shippers directly online, have driven the need for forwarders to improve their ability to quote competitively, while still retaining necessary margins.
   In recent months, CargoSphere has formed its first direct-to-carrier rate arrangement in conjunction with existing customers SEKO Logistics and Dascher.
   “We’re thrilled to support Kuehne + Nagel’s digital evolution and are looking forward to a strong collaborative partnership that champions Kuehne + Nagel’s digital readiness,” said Neil Barni, president of CargoSphere.