The partnership will combine contract and spot rates from two databases into one single product.
According to the announcement, “The partnership between industry data giants will combine Chainalytics’ market intelligence products with Truckstop.com’s rates data to provide increased visibility into contract and spot rates in North America. The database and modeling will aggregate over $80 billion of combined freight rate intelligence.”
The partnership was announced at Truckstop.com’s annual user conference in Dallas on Tuesday.
“The freight community can only grow with access to robust and accurate data,” said Paris Cole, CEO of Truckstop.com. “Truckstop.com’s partnership with another data-driven thought leader like Chainalytics is a game changer for all parties concerned with contract and spot rates data. It is partnerships like this one — bringing both types of best-in-class data to one screen — that move the freight community forward in ways the industry has never seen before.”
The partnership “will provide increased visibility into contract and spot rates from a single screen, starting with Truckstop.com’s strategic rate analysis platform and following with the transactional RateMate tool,” the announcement said.
Gary Girotti, executive vice president of Chainalytics, said, “Through this partnership, we’ll provide a solution for logistics service providers to gain greater visibility into contract and spot rates anywhere in North America in one place.
“Over time, we believe Chainalytics’ Freight Market Intelligence Consortium’s wealth of contract freight rate data combined with Truckstop.com’s extensive spot-rate insight will allow us to accurately predict where future rates are headed so customers can efficiently manage their transportation budgets and operation strategies,” Girotti said.