CARY, N.C. — (BUSINESS WIRE) — MercuryGate International, Inc., a global provider of cloud-based transportation management solutions, today announced the launch of RateFriend™, the first freight index to provide global rate data for Road, Air, Ocean, Rail, and Intermodal transportation. Available for a low monthly subscription, RateFriend is embedded within the company’s TMS framework, giving users access to the information they need without logging in to a separate website or third-party application. MercuryGate also integrates with other indexing services, allowing RateFriend users to review multiple indices quickly.
“This is challenging because the freight market is incredibly volatile. Demand for freight capacity can rise or fall suddenly, making it hard to know if the rates you’re seeing are consistent with current market averages. We developed RateFriend to give our customers greater insight and more negotiating power.”
“Controlling transportation spend is always a priority, especially for high volume shippers and logistics service providers,” said Monica Wooden, MercuryGate Co-Founder & Chief Executive Officer. “This is challenging because the freight market is incredibly volatile. Demand for freight capacity can rise or fall suddenly, making it hard to know if the rates you’re seeing are consistent with current market averages. We developed RateFriend to give our customers greater insight and more negotiating power.”
RateFriend is the only freight index that provides rate information for all major modes, including Truckload, LTL, Parcel, Air, Ocean, Rail, and Intermodal. This enables transportation management and procurement personnel to determine appropriate rates for both North American and International lanes using a single application. Index averages are updated nightly and based on aggregate results from more than 40 million loads per year.
— The only global, omni-modal rate index available.
— Gives users visibility to current spot rates, average contract rates, and market trends.
— Displays rate data by lane, mode, and equipment type.
— Market data for individual lanes can be viewed in real time.
— Batch capability makes it possible to analyze dozens of lanes at once.
— Third-party rate data can also be viewed within MercuryGate TMS.
MercuryGate International delivers collaborative, global transportation management solutions for shippers, carriers, brokers, freight forwarders and third party logistics providers enabling them to plan, optimize, execute and settle global transportation movements while providing complete end-to-end control tower visibility and decision support. With MercuryGate's configurable architecture and workflow engine, MercuryGate clients are able to manage parcel, LTL, intermodal and truckload shipments as well as complex multi-leg, ocean, air, and rail movements.