Noatum Logistics Completes Acquisition of the Multinational MIQ Logistics. Read more.

MIQ Logistics Adds CargoSphere Frictionless Freight Rate Technology

Market Wired

CargoSphere, the leading provider of frictionless rate networking and cloud-based global freight rate management, today announces that MIQ Logistics, a major global logistics provider has completed implementation of the CargoSphere technology platform. CargoSphere’s frictionless rate distribution and networking technology smooths out process and data inefficiencies. With CargoSphere, MIQ receives current confidential ocean rates over the Web-based, real-time Rate Mesh and accesses them in a single, systematized freight rate database. All MIQ U.S. branches, as well as their Hong Kong and UK offices are using CargoSphere.

MIQ’s centralized rate database provides frictionless rate management and networking that is simplified and moves MIQ’s business forward. The integrated database includes freight rates from its direct ocean carrier FCL (full container load) contracts, and NVOCC co-loader LCL (less than container load) and Asia-based agent partner rates published in the Rate Mesh. This central rate repository feeds the integrated quotation system which MIQ uses to quickly build multi-lane, professional, branded quotations with current and future ocean rates. MIQ management has visibility to this quote activity and win/loss statistics for an effective, automated process for analyzing quoting business activity.

CargoSphere technology enables MIQ to better understand carrier rates by trade lane and review rates and carriers on all lanes. MIQ uses this analytical data to refine their procurement strategy for ocean transportation services. Prior to implementing CargoSphere, MIQ managed their rates manually which was difficult due to the significant volume of rates and complexity.

“With CargoSphere, we are now quoting faster with greater accuracy. The value CargoSphere delivers was especially evident when I prepared a 6-7 lane ocean transportation rate quote for a customer meeting. My old process of flipping through contracts individually would have taken me a few hours, but because of CargoSphere, I was able to get the quote done in 15 minutes,” said Carol O’Connor, MIQ Senior Manager of Global Procurement.

MIQ Logistics has enhanced the ocean transportation service options for their customers now that they have a comprehensive database that includes all their ocean contracts, agent, and co-loader rates. This capability provides MIQ with a competitive advantage.

“I am happy to welcome MIQ Logistics to the CargoSphere Community. Today’s logistics companies are increasingly adopting online systems to improve the speed of data transfer and to quickly improve their technology infrastructure. Systematized rate data adds significant value that enhances strategic decision-making, integrates easily with other technology platforms, and reduces complexity. Frictionless rate management and networking is bringing the global shipping industry into the 21st century,” said Neil Barni, president of CargoSphere.

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