Cookies help us deliver the best experience on our website. By using our website, you agree to our use of cookies Dismiss

Xeneta and Catapult collaborate on freight rate decision making

Paul Mullins, Xeneta CRO Paul Mullins, Xeneta CRO

Ocean freight rate intelligence company Xeneta and Catapult, rate and contract management software provider have announced a collaboration that will allow Catapult customers including freight forwarders and NVOCCs (non-vessel-operating common carrier community members) to access Xeneta data in their existing software workflow.

{mprestriction ids="1,2"}The collaboration will enable customers to compare the very latest market information to their own rates to improve business and maximise profit margins.

Xeneta crowd sources information from shippers to provide unique insights into the very latest ocean freight rates. Around160,000 port-to-port pairings are covered by the data, with 110 million data points. The collaboration allows the Oslo-based business to extend its footprint within the market, while Catapult can offer its users a new depth of real-time market insight to enable better, more profitable decision-making.

“In short, access to Xeneta’s data will give the Catapult community the ability to quote more quickly, accurately and profitably to customers looking to ship their products,” explained Paul Mullins, Xeneta CRO.

“For our company, it gives us greater access to the established Catapult community and pushes the Xeneta brand and market standing on to the next level. It’s an exciting collaboration that we’ve been discussing for the past 18 months, so it’s hugely gratifying to finally be able to roll it out and deliver compelling benefits for customers worldwide.”

Catapult CEO, Virgil Ferreira, commented: “Speaking to the Xeneta team and to our clients we realized that they were using benchmarking data at a global procurement level, or for periodic market analysis, but were finding it difficult to deliver that powerful information in a meaningful and actionable way to their broader team.  We concluded we needed to put the data where the day to day rating decisions are being made, in the rate management system.”

“This is how it works. As a forwarder, for example, you need to provide a quote for a customer that wins your company business, while optimising profit margins. In the new QMS user interface you can compare your organisation’s buy and sell rates to the current Xeneta market benchmark – assessing today’s trends – and tailor your quote accordingly. The result is a far richer level of decision-making, a game-changer in fact, that allows Catapult users to really hit that margin ‘sweet spot’."

To access the new, integrated QMS user interface, customers must be subscribers to both Catapult, which is owned by Accelya Group, and Xeneta. Existing Xeneta subscribers that now choose to access Catapult will enjoy a lower, combined subscription rate.

“Our teams have worked closely in the past and we realise the value of Catapult – a platform that leading freight forwarder sales teams utilise day in, day out – while they see the unique industry insight our wealth of data delivers. By displaying data points from both firms in the one interface we can unlock further value from our crowd-sourced intelligence, making it actionable for front line sales teams in a new, organic, easy to use and powerfully beneficial way. This will give users a real competitive advantage in the marketplace, full stop. As such, it’s an important development for the sector,” said Mr Mullins.{/mprestriction}

Related items

  • Market intelligence product to track container trends

    Xeneta has launched a new Xeneta Shipping Index (XSI) Public Indices report, which utilises its database of over 85 million contracted freight rates to deliver a monthly snapshot of long-term rate developments in the container industry, including an overview of the busiest global trade corridors, allowing users to monitor regional developments and track trends for key markets.

  • Xeneta launches market tracking freight rate system

    Freight rate intelligence platform Xeneta has created a new offering called Xeneta Shipping Index (XSI), allowing involved parties to set rates at transparent prices that directly follow market fluctuations.

  • Xeneta adds reefer data

    Freight rates intelligence platform Xeneta reports that it has added reefer container rate data to its system, and has begun to populate its database with more than 30,000 data points for major trade lanes that have been generated by existing customers that joined its beta programme.

  • Xeneta raises $12m in funding round

    Ocean freight benchmarking and market intelligence software platform Xeneta has raised $12 million in a Series B investment round led by London-based Smedvig Capital, and including a number of existing investors, with the financing to be used to fund expansion and product development.

  • Call for ‘commodity’ status for containers

    Oslo-based Xeneta, a provider of benchmarking and market intelligence systems for containerised ocean freight, is calling for the introduction of ‘commodity’ status for shipping containers, to help the market adjust to rock-bottom rates.

Joomla SEF URLs by Artio

Login/Register

Register or Login to view even more of our content. Basic registration is free.

Register now

Digital Ship magazine provides the latest information about maritime satellite communications technology, software systems, navigation technology, computer networks, data management and TMSA. It is published ten times a year.

 

Address:
Digital Ship Ltd
Digital Ship - Digital Energy Journal
39-41 North Road
London
N7 9DP
United Kingdom

Copyright © 2019 Digital Ship Ltd. All rights reserved           Cookie Policy         Privacy Policy