Think about how freight procurement used to work. Teams relied on gut feelings, phone calls, and scattered data from carriers and forwarders. It was slow, tedious, and often reactive. For years, that was enough. But today’s supply chains aren’t the same—they’re faster, more complex, and less forgiving.
Why Traditional Approaches Fall Short
Does your process still rely on outdated methods? Here’s why it’s time to rethink:
- Blind Spots: If your data is incomplete or anecdotal, how can you be confident in your rates or supplier choices?
- Time Drains: Manual processes mean lost hours—and missed opportunities—in a volatile market.
- Misalignment: Miscommunication between your teams and forwarders can mean costly mistakes.
- Missed Opportunities: Without real-time insights, you’re reacting instead of planning, leaving your business exposed.
Imagine the Ideal Procurement Process
What if you could:
- Access real-time market data that answers your questions instantly?
- Align every team, from procurement to operations, on a single source of truth?
- Slash procurement cycles in half, freeing up time for strategic work?
- Make confident decisions backed by transparent, unbiased insights?
This isn’t a pipe dream. It’s what modern freight intelligence platforms deliver.
The Tangible Benefits of Freight Intelligence
1. Shorter Procurement Cycles- Automated benchmarks eliminate hours of manual research.
- Compare supplier offers in real time for quicker decisions.
- Use predictive insights to create reliable forecasts.
- Fortune 500 companies report a 50% improvement in budget accuracy with Xeneta.
- Arm yourself with indexed rate trends and historical data.
- Ensure transparency and avoid paying peak market rates.
- Centralize data to align procurement, finance, and operations.
- Use real-time dashboards for faster approvals and decisions.
- Monitor carrier performance against benchmarks and SLAs.
- Proactively adjust contracts with Index-Linked pricing models.
A Practical Guide to Smarter Freight Procurement
1. Start with the Right Questions
No one’s born knowing how to buy freight intelligence. So, ask yourself:
- Which routes matter most to our business?
- Can we answer if we are we paying above market benchmarks?
- What risks in the market could disrupt our supply chain?
- How can we get procurement, finance, and operations on the same page?
These questions set the foundation for smarter procurement.
2. Bring the Right People to the Table
Freight procurement isn’t a one-person job. You need buy-in from key players:
- Executives: Show them how freight intelligence reduces costs and mitigates risks.
- Finance Teams: Highlight the improved budget accuracy and forecasting they’ll gain.
- Operations: Emphasize how this improves service levels and resilience.
- Procurement Teams: Focus on efficiency wins and actionable data at their fingertips.
3. Evaluate Your Options
Not all data providers are created equal. When assessing solutions, ask these questions:
- Do they provide real-time market insights?
- Can they give global coverage, beyond basic directional trends?
- Is their data unbiased and easy to verify?
- Will the platform integrate seamlessly into your existing processes?
Questions to Ask When Evaluating Freight Intelligence Providers
- Do they provide real-time market updates?
- Is their global coverage comprehensive, going beyond basic trends?
- Can I trust their data as impartial and free from bias?
- How do they ensure data quality and aggregation?
- Will I get full transparency into the market?
- Can their platform centralize intelligence to align my team?
- Do they offer proactive tools to navigate global supply chain challenges?
- How seamless is their data access and integration?
- Will this help me stay ahead of my peers competitively?
- Can I trust the accuracy of every data point?
Why Xeneta?
Xeneta simplifies freight procurement by delivering:
- Real-Time Market Benchmarks: Instantly compare spot and contract rates.
- Global Insights: Analyze 160,000+ port-to-port pairs, with long- and short-term trends.
- Community-Driven Data: Leverage 500 million datapoints, enriched by expert analysis.
- Faster Procurement Cycles: Reduce timelines from 8-16 weeks to 4-8 weeks.
- Tangible Savings: Save millions by negotiating with data-backed confidence.
The $10 million difference in negotiations
Freight procurement has changed. Traditional methods no longer cut it in a world where markets shift overnight. Investing in real-time freight intelligence isn’t just smart; it’s essential.
With Xeneta, you can:
- Align your teams and stakeholders
- Ensure transparency in freight procurement
- Make decisions with confidence
- Optimize your costs and processes
Ready to transform your freight procurement? Get a demo of Xeneta today and see how we can help you maximize your freight intelligence ROI.
