CargoSphere Tackles Carrier Contract Complexity

MarineLink.com
Wednesday, July 10, 2013

Smart Upload and Diagnostic Solution (SUDS) automates carrier contract and amendment management and processing with smart, diagnostic mapping intelligence for a faster, streamlined workflow.

CargoSphere, cloud-based global rate management solution and confidential rate mesh network for the ocean and air transportation and logistics industries, introduced SUDS (Smart Upload and Diagnostics Solution), intelligent technology that reads external rate data directly from any carrier contract format and loads it into a rate system database.  SUDS quickly and effectively automates the time-consuming and tedious task of managing and processing carrier contracts and numerous contract amendments.  SUDS is a major advancement in the processing of large volumes of external freight rates.

When a contract is uploaded, advanced algorithms and smart reasoning extracts and organizes rates from endless pages of rate agreement contract data. These diagnostic features determine which rates are new and should be added versus rates which are currently in effect and simply need to be updated with revised rate levels. Once added, rates are returned back to the user through an audit feature for verification purposes. SUDS learns contract details and validations as the contract is being processed.  Contracts only need to be mapped once and then that information is automatically applied to any subsequent amendments and updates.

Dense carrier contracts with pages and pages of pricing and countless amendments have burdened the global shipping industry for decades. Contracts may have upwards of 100+ amendments in one year and current industry template-based solutions simply aren’t meeting the needs of the industry.  In response to the critical need to streamline this extremely inefficient process, CargoSphere developed SUDS so the global shipping industry including: shippers, logistics service providers, and carriers could manage contracts more efficiently and with greater accuracy. With SUDS, companies can assert better management control of their contract pricing and achieve greater internal accountability. Entire contracts that contain thousands of rates across multiple trade lanes can be loaded in minutes.

 

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