Xenata Aims to Transform Shipping Rate Deals 

Xenata, the market intelligence platform, has produced a new product which it believes has the capacity to transform the way the maritime industry does its business.

Xenata originally planned to make the market transparent and subsequently address an inefficient buy/sell process.

After many years of waiting for the industry to develop technologically, Xenata have released new technology that utilises an amounted 65 million rates on one database.

“This puts us in the position to transform the shipping industry, which is what we set out to do from the very beginning,” Xenata said in a statement, adding: “The XSI [solution] covers 57 corridors representing 95% of global intercontinental volumes.

“We built Xeneta with the vision of making the shadowy world of rate fluctuations transparent.

“Our benchmarking and market intelligence subscription products enable the market to see what is possible with readily available freight data to optimize procurement.

“XSI goes one step further and gives forward-thinking freight procurement and supply chain professionals the power to take the next natural step and relieve their teams from negotiation cycles and instead focus on driving value and optimization throughout the entire supply chain.

“This means they’re not just benchmarking rates and running RFQs, but actually getting the real-time value that, until now, has remained elusive for many organizations.”

Time will tell as to whether the new technology will transform logistics, yet its another sure step on the way to a digital supply chain.

Read more: New Report - Digital Innovation to Transform Shipping