6 best freight rate procurement software for improved negotiation

Any supply chain professional who has worked in the industry for long enough, and handled the procurement of freight rates, would have wondered at some point whether there is a better way to negotiate rates than the traditional practice. 

Putting together a suitable RFQ, manually reaching out to different logistics service providers and obtaining quotations from them, comparing all the bids received, and then selecting the vendor with the lowest quote, is a time-consuming process, to say the least. Not to mention the number of delays experienced due to slow email communication, discrepancies due to human errors at the last possible minute, etc.

Today, there indeed is a better way to secure freight rates. With the help of the right freight procurement software, it is possible to drive significant cost savings and enjoy the ease of freight management. Automating your RFQ processes enables you to receive the best quotes from trusted vendors, engage in transparent bidding processes and obtain the cheapest deals for your business, every time.

Any automated freight procurement solution provides a unified dashboard to carry out all your negotiation processes. Vendors will have other vendors to bid against/negotiate with, thereby, eliminating human bias that may affect your final negotiation. Timely alerts go out to the vendors to notify them of their current rank in the bidding process as well as nudge them to improve their bids if required.

For supply chain companies that are looking to majorly improve their bottom line, here is a list of freight procurement software that can completely automate your freight quotation management.

Six leading freight procurement solutions:

  • GoComet Freight Negotiation Engine

Secure the best deals through GoComet’s freight quotation management module that provides an automated and compounded negotiation system, ensuring that your vendors compete with each other, to give you the best possible rates. 

Accepted by all the major global accounting firms, GoComet’s platform enables a transparent procurement process, reduces turnaround time for spot rates, lets you instantly compare rates from multiple vendors, facilitates better decision making by providing vendor performance analytics and records every transaction, for future reference.

  • Coupa 

Coupa’s RFQ management software makes requesting a quote as simple as creating a requisition. Coupa is an all-in-one application that provides real-time freight quotes and consolidates all of your negotiated rates on one dashboard so that you can choose the right vendor with ease, review quotes side-by-side, invite vendors to bid on your project via email and so on.

  • Alpega

Digitize and automate your rate procurement process confidently, with Alpega’s Freight Cost Management software. Obtain a quick and comprehensive overview of total freight cost and visibility, settle, monitor and analyze freight costs, all from a single platform provided by Alpega. 

Their solution provides shippers with a reliable, cloud-based system to easily settle invoices, handle contract management and reconcile surcharges or accessorial costs related to their international transportation.

  • Transporeon

Transporeon’s centralised Rate Management module gets your freight rates sorted out, no matter how many transport data sets and logistics contracts you manage worldwide, and facilitates easy access to information, centralized data handling and transparency. 

It is used to process complex pricing plans, surcharges and alternative shipping options quickly and easily. Enjoy centralized storage of all freight contracts and documents per carrier and freight contract, enabling easy and quick access to standardized information.

  • FreightPOP

FreightPOP aims to save up to 30% on shipping and freight with their multi-carrier rate shopping module. Their Rate Shopping dashboard compiles all of your negotiated rates into one window – all that you have to do is fill in the shipment information, or automatically pull from your ERP system using our robust integrations. 

You can compare rates for an unlimited amount of shipments at the click of a button as well as email quoted rates to your team, directly from the FreightPOP app.

  • Freightos

Experience painless global freight comparison and booking with Freightos. You can receive free freight quotes, compare instant freight shipping quotes from 75+ freight forwarders with all-in shipment fees, and know exactly what level of service you’re getting every time. Do away with hidden costs and enjoy the most attractive pricing for all your shipments.

GoComet enables you to drive double-digit savings each time that you ship via its recursive rate reduction system.

To know more about how to best negotiate the lowest prices for your shipment, and identify the right freight procurement software for your business, talk to us today!

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