Veraction launches improved transportation spend management tool

Supply chain technology provider Veraction LLC said Tuesday it has launched an enhanced version of its transportation spend management tool, adding deeper visibility and spending control by leveraging the freight and parcel audit process.

Memphis, Tenn.-based Veraction launched the improved platform as part of its Transportation Spend Intelligence (TSI) suite, including the TSI Insights and TSI Variance Analysis tools in its cloud-based Total TSM platform.

The enhanced solutions offer a visualization of transportation spending across modes, carriers, geographies, or businesses, according to Veraction. With the new release, customers can use that data to pinpoint where and why their spending is changing, so they can take action, the company said.

"In today's environment, knowing 'what happened' is important, but not enough. Customers need to know why they had positive or negative variance in their spending so they can quickly correct a problem or exploit an opportunity," Vardu Parthasarathi, Veraction's product manager for transportation spend intelligence, said in a statement. "Up until TSI, customers have had to dedicate significant resources and time on cost-reduction analysis and KPI calculation. Our analytics solutions now deliver this in seconds, and with mouse clicks instead of spreadsheets."