EKA Solutions, Inc., provider of a cloud-based integrated freight management ecosystem platform, dFEMXTM, and cloud-based end-to-end supply chain Omni-TMSTM platform for carriers, brokers and shippers announced today a strategic channel partner collaboration with FreightWaves. The strategic collaboration will offer FreightWaves SONAR data visualization tools for brokers, carriers and shippers with forward-looking analytics on freight movements including rates, volumes and market dynamics.
“EKA is excited to work with FreightWaves, the global leader for freight market analytics and forecasts. We want to offer a seamless user experience in which EKA users can simultaneously access SONAR products through the EKA Omni-TMSTM platform and use it seamlessly to make pricing decisions. The goal is to increase EKA customer productivity and improve profitable decision-making.” said JJ Singh, Founder, Investor and CEO of EKA Solutions, Inc.
“Also, EKA smart pricing value-added tools will enable it to ingest FreightWaves SONAR actionable intelligence and blend it with unique customer data to deliver targeted and improved pricing decisions for each specific use case to each EKA broker, carrier and shipper customer,” said Mark Walker, Investor, President and Chief Digital Officer for EKA Solutions, Inc.
“Software and technology are accelerating the pace of innovation in the supply chain business and, among other things, delivering innovative capabilities to improve management of operations and eliminate uncertainty and doubt about market pricing and direction” stated Craig Fuller, Founder and CEO of FreightWaves. “We’re excited to work closely with the experienced and talented supply chain leadership team at EKA Solutions, Inc., that understand freight price volatility, freight price risk and potential solutions to manage logistics price movement. The seamless integration of innovative SONAR actionable intelligence solutions with the price management solutions embedded in EKA Omni-TMSTM platform will accelerate the delivery of transformative price transparency solutions to meet the industry’s current and emerging needs.” added Fuller
About EKA Solutions, Inc.
EKA Solutions, Inc. provides a transformational cloud-based SaaS digital freight ecosystem management platform, dFEMXTM, to manage all the customer’s freight businesses including freight exchange and third-party services. As part of dFEMXTM Offering, EKA provides the Smart, Unified Platform EKA Omni-TMTM for – Virtually – Everyone. EKA Omni-TMSTM is designed to transform the transportation and logistics industry. It empowers small, medium, and large size broker, carrier, and shipper businesses to operate from quote-to-cash with affordable and best-in-class digital tools, enabling the higher performance demanded in tomorrow’s supply chain. With real-time information, EKA Omni-TMSTM enables brokers, carriers, and shippers to provide visibility and transparency as they fluidly trade across an expanding and verified network with key, trusted partners.
About FreightWaves SONAR
FreightWaves SONAR is the industry’s most comprehensive freight data platform with unparalleled insights and forecasts.
SONAR tracks daily activities in the domestic and global environments, with freight market data generated from thousands of exclusive sources with more than $200 billion of contract freight transactions. SONAR offers historical and current freight rate, demand and capacity index data across all modes. The industry’s first and fastest platform uses current tender rejection rates to create the most current freight activity and logistics rate indices in the market.
The only freight forecasting platform that combines contract tender data with spot rate data, SONAR creates predictive freight rates. Plus, SONAR uses artificial intelligence to develop consistently updated forecasts to give you the most reliable predictions of where trucking spot rates, supply chain demand and logistics capacity are headed over the next 12 months.
Rather than relying on one set of data, SONAR is the only freight market analytics platform that combines historical freight market data with real-time market activity to offer logistics rate forecasts, spot rate forecasts, forecasted freight rates, and visibility into the freight marketplace – at local, state, national and global levels. The SONAR freight forecasting model is the only one in the market that uses tenders from the contract marketplace to track real-time freight market capacity and demand. SONAR provides the fastest freight market data in the world, across all major modes of traffic.
SONAR has proprietary data that comes from actual load tenders, electronic logging devices and transportation management systems, along with dozens of third-party global freight and logistics-related index providers like TCA Benchmarking, Freightos, ACT, Drewry and DTN.