Both companies are set to accelerate integration and extension of global freight rates into Winmore’s digital pricing platform.
Chain.io, a cloud-based integration platform that connects partners across the global supply chain, today announced an integration with Winmore, the leader in AI-driven price and process optimization solutions for the logistics industry.
The integration expands the ability of freight forwarders, brokers and carriers to secure more shipments by directly loading rate data from rate management systems directly into Winmore’s pricing optimization solution.
“Continued instability across all modes means that only logistics service providers with the best data can win the right deals at the right price,” said Brian Glick, Founder and CEO, Chain.io. “Forwarders, brokers and carriers that respond to bids quickly and with pricing based on real historical data will continually outperform their peers. Aligning the Winmore platform within the Chain.io network gives our customers that leg up in the marketplace.”
Chain.io synchronizes organization master data from a connected TMS into the Winmore platform to allow for accurate responses on bids. The integration also gives Chain.io customers the ability to send copies of freight invoices from their TMS to Winmore to provide deeper reporting and analytics on how actual shipment volume and spend from customers compares to projections.
“Winmore helps logistics service providers compete in this accelerating marketplace, often increasing their tender and RFP win rates by double-digits,” explained Aaron Sasson, Winore CEO. “Through our integration into Chain.io, we can extend our pricing optimization platform deeper into the pricing and product functions at freight forwarders, carriers and freight brokers, delivering richer insight that can have a transformational impact.”
Indeed, McKinsey & Company recently reported that pricing optimization projects in the logistics industry result in an increase in revenue by 2-4%, which translates to a 30-60% increase in operating margin.
“With the integration of Winmore, Chain.io customers now have access to AI-driven workflows that analyze and automate request data,” concluded Glick. “This data reconciliation allows Winmore users to accelerate their reviews even faster, freeing up bandwidth to address the increasing bottlenecks in the freight pricing process.”