SONAR inks data partnership with Transfix

“Transfix really has the best-in-breed in transportation management and a framework for analyzing optimal network design and making choices that will result in a two-digit operating ratio,” said Daniel Pickett, SONAR’s chief technology officer. “SONAR is best-in-breed data and forward-looking analytics. We have a certain set of expertise; Transfix has a certain expertise. Putting our data in their platform is going to help people make better long-term decisions.”

Now Transfix is helping freight brokers solve one of the thorniest problems in the transportation industry: price discovery, a process that brokerages have historically muddled through with a combination of endless phone calls, outdated data and guesswork. Manually filling out rates on thousands of lanes for RFPs consumed hours of time, and the outcome was very uncertain.

“Today the rate-finding process is very much a game of Marco Polo,” Pickett said. “By getting the tender data and market data and running it through their rate calculation algorithms, Transfix is going to give people multiple data points. It will allow brokers to think beyond the next load and ask themselves, ‘How should I prioritize my day? What should I be expecting on this lane? How should I manage my customer relationships?’”

Transfix’s Data Solutions allows brokers to model their contract and spot rates into the future, weaving market data into their historical transaction data to generate the most accurate forecasts. Not only does the platform give brokers the rates they need, but it also helps them triage lanes by desirability and predict how their entire freight portfolio will perform.

“Transfix has been a long-term partner, dating back to their earliest days as the first digital broker,” said Spencer Piland, CFO and COO of SONAR, in a statement. “We’re excited to be a part of this journey with them and their exceptional data and technology teams as they showcase to our industry how to improve pricing models and apply freight market data to improve decisions and drive margins for America’s largest brokers.”