Transporeon has launched three platform innovations that enhance its spot quotation, contract rate benchmarking and freight audit capabilities.

The Trimble-owned software specialist has also announced the launch of Freight Marketplace, a deal-making hub for freight procurement which is of equal benefit to shippers and carriers.

Transporeon’s first new platform innovation is its Autonomous Quotation spot bid tool which allows carriers and logistics service providers (LSPs) to quote for more opportunities.

Meanwhile Rate Benchmark facilitates informed procurement and pricing decisions and Freight Audit integrates audit capabilities into Transporeon’s Transportation Management Platform (TMP).

Price negotiations are opaque and manual in the growing freight spot market, the company explained, and freight forwarders, brokers and LSPs spend considerable time manually researching and building quotes.

To solve this challenge Transporeon now enables brokers and LSPs to prioritise incoming transport requests easily and automatically serve customers with instant, accurate pricing for truckload spot transports based on predicted market rates.

By fully automating the spot bidding process with Autonomous Quotation, brokers and LSPs can increase the volume of opportunities they quote for, which in turn, can lead to new business opportunities. Automating the process can also unlock cost-savings by minimising the manual work involved in the quotation process.

Rate Benchmark extends the capabilities of Transporeon’s existing Market Insights solution, which democratises truckload pricing by providing real-time insights into markets, lanes and their development.

Freight Audit will allow customers to audit shipments executed on Transporeon’s platform and combines a variety of specific capabilities, including cost allocation, online dispute management, invoice legal information audit, billing instructions, accruals and accounts payable.

The new tool does not require additional customer input as it uses existing platform data, such as rates and transport orders.

Commenting on the move during a launch event at Transporeon’s annual summit near Barcelona, chief executive Stephan Sieber said: “In today’s fast-paced world of transportation and logistics, adaptability is key for companies to survive and thrive. Digital technologies can significantly reduce cumbersome, manual processes. We have seen that when companies adopt more collaborative approaches, improved efficiency often follows. This is precisely what Transporeon’s platform enables.

“With our latest platform innovations, logistics teams can gain access to even more detailed market insights and codify tedious manual tasks into fully automated processes – not just within their own company, but between business partners.”

Meanwhile in a separate move, Transporeon said its new Freight Marketplace addresses the challenges of aligning capacity and assessing fair pricing with a tool designed to transform logistics procurement and redefine how companies buy, sell, negotiate and contract.

Its key benefits include a central location for deal-making, simplified negotiations, multi-dimensional negotiations that factor in sustainability, and enhanced visibility and transparency. Buyers benefit from pre-structured, standardised data that simplifies finding new partners through high-quality profiles.

Sellers gain access to a broader range of shippers and mini tenders, allowing them to win new business. Since every event is structured the same way, sellers can also evaluate opportunities more efficiently, meaning they no longer need to decipher shipper-specific jargon or endless Excel table names.

“Finding reliable partners, aligning capacity and securing fair agreements is a long-standing industry challenge,” explained Sieber. “That’s why we built Freight Marketplace to take freight procurement to the next level. At its core, our new solution is a one-stop shop for deal-making, empowering buyers and sellers alike to connect, negotiate and close new business. This is supported by advanced algorithms, full transparency and a focus on sustainability.”