- Scrubbing away the hassle, stress and grunt work of static carrier contracts and rate sheets -
Chapel Hill, North Carolina, February 27, 2014 – CargoSphere, the leading, cloud-based global rate management solution and confidential Rate Mesh Network for the ocean and air transportation and logistics industries, today announces major enhancements to SUDS (Smart Upload and Diagnostics Solution) with the release of SUDS version 2.0 due out in late March. SUDS is a groundbreaking technological framework that intelligently reads and processes external freight rate data directly from any static document, such as carrier contract spreadsheets, and loads it into a dynamic rate system database. With SUDS version 2.0, automating the management of major pricing components including base rates, surcharges and inland rates, will be realized. In addition, the base rate functionality of version 1.0 has been significantly enriched over the past months for commodities, named accounts, service levels and effective dates as clients processed nearly 6,000 contracts and rate sheets with SUDS.
Prominent in ocean pricing, carrier agreements often specify commodity groups, named accounts, service levels, surcharges, GRIs, tariff applicability and a host of effective dates in nonstandard and unique ways. This makes it exceedingly difficult for global rate administrators to systemize this data efficiently and cost effectively. What’s more, these static files simply cannot and do not provide bottom line costs. SUDS 2.0 takes a very important step forward in automating the processing of this complex data allowing rate administrators to find and define any pricing term in a file and convert that text into dynamic rate data in their CargoSphere System.
SUDS 2.0 advances are designed to create a new rate management paradigm. This innovation will significantly speed the processing of static carrier contracts and rate sheets reducing grunt work, boosting cost and time savings and improving productivity within logistics, BCO (beneficial cargo owner), and carrier businesses. SUDS 2.0 will now create an even more compelling case for reducing or eliminating outsourced services for the contract management function and bringing it in-house for maximum efficiency, control and savings.
“We are achieving something exciting and tangible with SUDS by filling a major ‘industry cost sink-hole’ and equipping our clients with real technology to confront 60-page agreements, amendments and hefty spreadsheets with less stress,” said Neil Barni, president of CargoSphere.
“Carriers are amending rates faster than perhaps any time in recent history creating pricing volatility and significant administrative work for the carriers themselves and downstream customers. With SUDS 2.0, we are reaching a significant milestone in the processing capability of SUDS and a new era of rate management in the industry,” said Barni.
Established in 1999, CargoSphere powers the industry’s first cloud-based, confidential global rate solution and Rate Mesh Network. CargoSphere is enabling a paradigm shift from outsourced contract management to self-management through innovative technology like SUDS (Smart Upload and Diagnostic Solution). SUDS intelligently reads static carrier-rate files directly into the CargoSphere cloud database. It significantly reduces the complexity and time-consuming task of managing freight rate contracts.
CargoSphere’s world-class contract and rate management functionality enables rate quoting, rate distribution and agent rate collaboration through the CargoSphere Rate Mesh. CargoSphere allows each of its global clients to create a private network of trusted parties. The Rate Mesh seamlessly and confidentially connects trading partners allowing them to integrate and simplify rate communication.
For more information, visit www.cargosphere.com