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WiseTech acquires air and ocean rate management

Richard-WhiteSYDNEY: September 12, 2017. Logistics software group WiseTech Global has acquired two rate management companies: Netherlands-based Cargoguide covering the airfreight sector and CargoSphere based in North Carolina for the ocean freight industry.

Headquartered in Utrecht, Cargoguide provides rate management services to DHL, Expeditors, UPS, DSV, Geodis, Panalpina, Kuehne + Nagel, Schenker, Toll and Yusen based on its relationship with GSAs and leading combination carriers.

CargoSphere's rate management platform ensures shipper access to confidential ocean freight rates for more than 100 logistics customers including Kuehne + Nagel, Dachser, NNR Global Logistics, M+R Spedag and Livingston International.

WiseTech plans to combine both platforms with its proprietary product integrated global execution platform CargoWise One.

Company CEO Richard White (pictured) explained: "Both solutions will enhance existing rate management capabilities within CargoWise One, increasing efficiency, accuracy and workflow for our customers worldwide, while our innovation strength and development capacity will further accelerate multi-modal rate management developments.

"This will ultimately create a pathway to the deeper automation necessary to substantially increase productivity for freight forwarders grappling with exponential increases in volumes and margin pressure," he added.

Cargoguide managing director Jorre Cobelens noted: "Joining forces with a global leader like WiseTech enhances our ability to revolutionize rate, margin and capacity management for the freight forwarding industry."

Neil Barni, CargoSphere managing director added: "We have dedicated over 15 years pursuing our product vision and goal of becoming the leading neutral global ocean rates platform for the shipping industry, and working with WiseTech over the last year we realized that we can both do more and deliver more value to our customers together."

CargoWise One provides support for 7,000 logistics providers in 125 countries covering forwarding, Customs clearance, warehousing, shipping, land transport and cross-border compliance on one database across multiple users, functions, countries, languages and currencies.

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