Trax Technologies announced that it has entered into a strategic partnership with project44, the world’s leading supply chain visibility platform for shippers and logistics service providers. Trax Technologies is the global leader in Transportation Spend Management elevating freight audit and payment (FAP) through advanced technologies and premium solutions for global shippers and Logistics Service Providers with complex transportation logistics ecosystems. project44, based in Chicago, Illinois, is the most advanced, international provider of connected and automated visibility into key transportation processes to accelerate insights into the physical flow of goods all over the world.
The project44 and Trax partnership creates the leading Transportation Spend Management solution that brings visibility to the supply chain’s physical and financial logistics flow of data into one technology ecosystem for shippers and logistics service providers to drive an optimized Cost-to-Serve for logistics spend while maintaining the highest levels of On-Time-in-Full (OTIF) service and performance. The strategic partnership of project44’s visibility of the physical event data of shipments with Trax’s visibility and control of transportation spend through global Freight Audit and Payment create an unparalleled solution for global enterprise shippers and logistics service providers linking shipment performance and cost-to-serve with real time insights.
"Many of our customers have shared with us the struggle that they have seeing the movement of goods globally and aligning that with their decisions about cost-to-serve. Then to add on top the desire to do that proactively and with speed. We are extremely excited to be the only Transportation Spend Management provider to bring this partnership and that opportunity to our current and future customers," said Josh Bouk, President of Trax. "With this exciting partnership with project44, we can now help our customers advance how they manage the multiple legs of their supply chain, increase the quantity and quality of the data and the actionable insights at their fingertips, and ultimately improve service timeliness and efficiency for their customers."
The partnership between Trax and project44 brings improved decision making to customers of both companies. The benefits of the partnership include actionable insights into transportation activities and the resulting impact on costs leading to real time problem solving, improved planning and rate management, greater customer satisfaction, and more collaborative shipper-carrier relationships. Additionally, the one-to-many integration capabilities of both project 44 and Trax ensure insights into both performance and cost across the globe, regardless of technology stack, region, mode, lane, or carrier.
"We are excited to be working with Trax to combine visibility into the movement of goods with the financial impact of those transportation events," said project44 President Tim Bertrand. "Together with Trax, project44 is focused on providing much needed visibility and actionable insights into the events within the global supply chain. Our solutions, joined together, ensure ease and confidence in smarter decision making, which is now more essential than ever to address mounting supply chain bottlenecks."
“This partnership of Trax and project44 makes me incredibly excited for our global customers,” said Chris Cassidy, Executive Vice President of Sales and Strategic Partnerships, Trax. “The real time problem solving, improved planning, and uniquely robust transportation data and insights now available for our customers will dramatically improve the cost and service effectiveness of their supply chain control tower, leading to increased customer satisfaction and improved operating margins.”
Trax customers, and their $22+ billion in transportation spend under management, achieve greater control and transparency over transportation spend, a growing portion of the cost-to-serve for all global enterprises and LSPs, through a robust software and analytics platform that elevates global freight auditing, cost allocation, logistics data management, payment automation, and supply chain financing. With project44, Trax now offers end-to-end, real-time supply chain visibility, cost optimization, and working capital solutions for shippers, carriers, and 3PL/4PLs within the global multi-modal market, and the company is a trusted partner of many of the world's largest and most sophisticated supply chains.