Mutual customers of Tai TMS and FreightWaves SONAR have an easier viewing of SONAR data. The new partnership brings SONAR data right into Tai’s transportation management system (TMS), eliminating the need to toggle between multiple applications. Current SONAR customers who have a SONAR API subscription to our Capacity Market or Lane Scores and/or FW TRAC data can use their existing API credentials to start accessing the data.
SONAR and FreightWaves TRAC have brought pricing transparency to the transportation market and show how capacity conditions are changing on given lanes. This has made decision-making more streamlined, allowing brokers to act quicker when quoting lanes.
“SONAR is definitely making a splash in the broker market. The ability to accurately predict truckload rates has become more and more necessary in this constrained market. Brokers are getting pressure to respond to spot quotes faster, and a rating tool like SONAR gives them market intelligence they can trust. SONAR shows you if capacity is tightening or loosening, which is critical for carrier reps. It allows you to see if the rates you are getting are the best you can get in a tightening market, or if you should wait for a better rate because capacity is loosening.” says Sean McGillicuddy, VP of Sales & Marketing at Tai TMS.
The integration between FreightWaves SONAR and Tai TMS brings the data that has been defining the freight market to the forefront.
“Mutual customers of Tai TMS and SONAR will now have another access point for mission-critical data that can drive key decisions,” stated Craig Fuller, founder, and CEO of FreightWaves.
Freight brokers are largely focused on two things:
The Tai TMS/FreightWaves SONAR/TRAC integration answers both of these questions within the single dashboard. FreightWaves Capacity Lane Score is a range from 0 to 100, and the higher the number, the tighter capacity along a given lane is. Within Tai TMS, mutual customers will be able to see the lane score and the change in the score, allowing them to act upon tightening/loosening freight market conditions.
Tai TMS customers will also have FreightWaves TRAC rates within the same dashboard, showing the median rate and the 33rd percentile and 67th percentile as the low and high rates. FreightWaves TRAC rates are based on data from members of the Trusted Rate Assessment Consortium at the time loads are covered, which brings the freshest rates to the market.