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See how rates of other cargo owners compare to yours and find the average lane rate for key lanes.
With transport accounting for a significant amount of total logistics costs, there is a constant pressure on companies to improve rates from carriers. But it is very difficult for clients to understand how the rates they are paying compare with market averages and whether they are being overcharged. A common practice is to issue an RFP merely as an exercise to gather rates data which is time consuming and often counterproductive if there is no intention to change transport providers.
Gathering rates benchmarking data to drive better procurement is an extremely valuable exercise. This means finding out what other companies are paying to move freight on particular lanes that are relevant to your business. However, for a benchmark to be valid, you need a sufficiently large sample size which Transnova can provide by analysing the extensive rates data that exists within our broader transport network.
A Rates Benchmarking exercise from Transnova will show how your rates compare to those of other companies and allow you to directly compare lane rates against achieved lane rates to identify potential benefits. It will also help you understand what your target rates for each lane should be before negotiating with your service provider.
By drawing on our extensive industry experience, market understanding and constant interaction with carriers, Transnova can help clients benchmark lane rates and understand how you’re positioned compared to other shippers. We can also indicate whether you are paying too much for additional surcharges and if other favourable pricing arrangements are available that you might not be aware of. Plus, we can compare your logistics processes in a qualitative analysis that can give your company an unmatched competitive edge.