CargoSphere has taken another step to empowering forwarders with real-time rate access by launching a systematized process for distributing freight rates to customers online in real-time.
In mid-2016, the company announced that SEKO Logistics and Dachser would gain direct access to rates supplied by shipping line UASC in the CargoSphere rate sharing network, called Rate Mesh. This allowed real-time sharing of rates from carrier to forwarder, who could then quote their customers faster and more accurately, given ocean rates are subject to frequent changes and amendments.
The new tool is called eSUDS (smart upload and diagnostic solution), and is an update to CargoSphere’s existing rate document upload platform, launched in 2013. The new “e-version” is designed to speed the process of carrier rate uploads to better provide real-time rate data to forwarders.
“We’ve created an original, digital rate infrastructure to advance the global containerized shipping industry for long-term success. By fully automating this process the industry will achieve significant time and cost savings and the ease of business desired by all industry participants. eSUDS accelerates the conversion of ocean freight rates to a fully digital environment and provides a simple, standardized process. We believe eSUDS is a huge leap forward in positioning CargoSphere as the single rate platform for all,” said Neil Barni, president of CargoSphere.
According to CargoSphere, the process works by a carrier updating confidential contracts, rate sheets, and/or surcharges in its internal system. The carrier’s system triggers creation of an export file containing new or updated rates and sends it to the CargoSphere system via sftp. The eSUDS tool detects the new carrier rate file and initiates the diagnostics process. eSUDS reads the carrier file, converts the carrier codes and data structures into CargoSphere Rate Mesh standards and inserts updated rates into the carrier’s CargoSphere cloud system. Updated rates are automatically shared via the CargoSphere Rate Mesh in either the customer’s CargoSphere system or the carrier’s website, giving customers real-time access to updated rates, base rates and/or surcharges.
The following infographic outlines CargoSphere’s eSUDS process further: