Freightos Launches Freightos Enterprise, Transforming Global Freight Procurement
Freightos (Nasdaq: CRGO), the world’s leading digital freight booking and payment platform, has unveiled Freightos Enterprise, a groundbreaking integrated logistics procurement suite tailored for large-scale importers and exporters. This new platform unifies the increasingly digitalized but often fragmented world of global freight procurement, rate benchmarking, and shipment execution. Freightos Enterprise is designed to simplify the procurement process, enabling businesses to navigate the complexity of global supply chains with greater efficiency, reliability, and transparency.
In today’s rapidly evolving logistics landscape, the need for a streamlined, data-driven approach has never been more pressing. Global freight procurement, once dominated by traditional methods like email chains, spreadsheets, and siloed systems, has become increasingly digitalized. However, many businesses still struggle with disjointed processes that lead to inefficiencies and inflated costs. Freightos Enterprise aims to solve these problems by providing a single, comprehensive platform that integrates all aspects of the procurement process, from tender management to real-time shipment tracking and market intelligence.
A New Era for Global Freight Procurement
Freightos Enterprise is the result of years of development and innovation by the Freightos team, with a specific focus on addressing the unique challenges faced by large enterprises involved in global trade. As supply chains grow in complexity, businesses need tools that can help them optimize their freight procurement strategies. With Freightos Enterprise, companies gain access to an end-to-end solution that offers everything they need to manage their logistics needs more effectively.
The platform brings together three powerful modules that address different aspects of the procurement process, helping to streamline workflows and reduce the friction that often arises when dealing with multiple systems and service providers.
Module 1: Procure – Streamlining Tender Management and Contract Optimization
The first module, Procure, is designed to automate and optimize the procurement process for businesses managing large volumes of shipments. One of the key features of the Procure module is the ability to automate the Request for Quote (RFQ) process, which traditionally has been a time-consuming and error-prone task. With Freightos Enterprise, logistics teams can automatically send RFQs to multiple logistics service providers, compare rates, and select the best offers—all within the platform. This not only reduces procurement time by up to 90% but also eliminates the need for cumbersome back-and-forth communications and paperwork.
Freightos Procure is built on the recent acquisition of Shipsta, a leading provider of tender management and contract optimization solutions. This acquisition enhances Freightos’ ability to offer a truly integrated solution that covers every aspect of freight procurement, from initial quote requests to final contract negotiations. The ability to track and optimize contract terms and conditions in real time also ensures that businesses can make informed decisions and secure the best possible deals with their logistics partners.
Module 2: Rate, Book & Manage – Simplifying Rate Comparison and Shipment Tracking
The second module, Rate, Book & Manage, offers direct digital connectivity to hundreds of carriers and logistics service providers, enabling businesses to easily compare rates, book shipments, and track their cargo in real-time. With this module, businesses can access a vast network of carriers and service providers, including those in air, ocean, and ground freight, and make decisions based on accurate, up-to-date information. This eliminates the need for manual rate negotiations and significantly reduces the amount of time spent on administrative tasks.
Freightos’ vast network also provides customers with a one-stop solution for all their freight needs. Whether a company is shipping by sea, air, or land, Freightos Enterprise makes it easier to book, track, and manage shipments through a single interface. This integration helps eliminate communication bottlenecks and ensures that logistics teams have the information they need to make timely decisions and avoid delays.
Module 3: Terminal – Market Intelligence and Rate Benchmarking
The third and final module, Terminal, focuses on providing real-time market intelligence and enhanced contract benchmarking capabilities. Terminal leverages data from dozens of multinational BCOs (Beneficial Cargo Owners) to offer businesses an unprecedented level of visibility into commercial market rates. With Freightos Terminal, businesses gain access to critical market data, including pricing trends, demand fluctuations, and capacity information, allowing them to make smarter decisions about when and where to book shipments.
One of the standout features of Freightos Terminal is its incorporation of the Freightos Baltic Index (FBX) and Freightos Air Index (FAX), two of the leading indexes for container shipping and air cargo, respectively. These indexes provide valuable insights into global shipping rates, helping companies stay informed about market conditions and adjust their procurement strategies accordingly. With this level of market intelligence at their fingertips, businesses can optimize their supply chain operations and mitigate the impact of volatility in global freight markets.
Addressing Industry Challenges with Technology
The launch of Freightos Enterprise comes at a time when global logistics professionals are grappling with a range of challenges, including trade uncertainties, fluctuating shipping rates, and the ongoing disruptions caused by events like canal closures and capacity shortages. In this environment, logistics teams are under increasing pressure to optimize their freight procurement strategies, improve efficiency, and reduce costs.
Zvi Schreiber, CEO of Freightos, highlighted the significance of the platform’s timing, noting that many logistics teams are still relying on outdated methods like spreadsheets, emails, and disconnected platforms to manage their procurement activities. “Enterprise logistics teams are drowning in spreadsheets, emails, and siloed platforms,” Schreiber said. “The result is higher cost and unreliable supply of imported goods…at a time when resilience is critical. Technology has evolved to address some of these pain points, but in a piecemeal way that doesn’t fully support the entire procurement process. We’ve spent years building the individual pieces of the puzzle, and now we’re bringing them together in a way that matches how logistics professionals work in the real world.”
With Freightos Enterprise, companies can now seamlessly manage every aspect of the procurement process in one unified platform, from market intelligence and rate comparison to tender management and shipment tracking. This integration reduces the need for manual processes and ensures that logistics teams can make faster, more informed decisions.
The Benefits of Freightos Enterprise
Freightos Enterprise is already delivering tangible results for businesses across a wide range of industries. Early adopters of the platform have reported significant improvements in their logistics operations, including:
- 20% reduction in freight spend through data-backed negotiations and optimized procurement strategies.
- 80% decrease in email communication around quoting and booking, streamlining workflows and reducing administrative overhead.
- Elimination of communication bottlenecks with logistics service providers, leading to faster response times and more reliable supply chains.
- Comprehensive visibility from contract negotiation to final delivery, enabling businesses to track shipments in real-time and ensure timely arrivals.
Paolo Galli, VP of Group Logistics Operations at Electrolux, echoed these sentiments, stating, “Having everything connected – from market intelligence to tender procurement to actual bookings – transforms how shippers operate. Now, teams can focus on strategy, instead of chasing information across multiple systems and endless email chains, saving time and money, and getting goods on shelves with less overhead and more reliability.”
Conclusion: A Game-Changer for Global Freight Procurement
Freightos Enterprise is a game-changer for large importers and exporters looking to optimize their freight procurement operations. By offering a unified platform that integrates procurement, rate comparison, shipment tracking, and market intelligence, Freightos is helping businesses overcome the challenges posed by the increasingly complex and fragmented global freight landscape. With this powerful suite of tools, companies can streamline their operations, reduce costs, and improve the reliability of their supply chains, all while staying ahead of the competition in a rapidly changing industry.
As global trade continues to evolve, Freightos Enterprise provides businesses with the digital tools they need to succeed in an increasingly connected world. Whether it’s reducing procurement time, cutting freight spend, or gaining visibility into market trends, Freightos Enterprise is empowering logistics teams to make smarter decisions and build more resilient supply chains.
About Freightos
Freightos® (NASDAQ: CRGO) is the leading vendor-neutral global freight booking platform. Airlines, ocean carriers, thousands of freight forwarders, and well over ten thousand importers and exporters connect on Freightos, making world trade faster, more efficient and more resilient.
The Freightos platform digitizes the trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments for global businesses of all shapes and sizes. Products include the Freightos Marketplace, WebCargo, WebCargo for Airlines, 7LFreight by WebCargo, Shipsta by Freightos, and Clearit.
Freightos is a leading provider of real-time industry data via Freightos Terminal, which includes the world’s leading spot pricing indexes, Freightos Air Index (FAX) for air cargo and Freightos Baltic Index (FBX) for container shipping.