Transporeon to offer autonomous spot freight procurement services, following acquisition of TNX Logistics.
- TNX supports autonomous procurement for up to 90% of road spot freight and helps finding more capacity in the trusted carrier pools of TNX’s customers.
- TNX’s product is a great extension of Transporeon’s offering, proving an entry point for shippers, forwarders, and carriers onto the Transporeon platform.
- TNX’s autonomous procurement technology will be made available to existing Transporeon customers starting with beta customers with high spot volumes.
Transporeon announced today the acquisition of TNX Logistics, an innovative start-up in the field of autonomous procurement. Founded in 2016, TNX offers a turn-key data science powered platform for road transport. The company’s software allows shippers and forwarders to autonomously procure up to 90% of spot volume. To do so TNX uses data and behavioral science to equally support shippers, forwarders and carriers to better match capacity in an increasingly dynamic market.
Artificial Intelligence and Big Data are more and more impacting the logistics industry. As a digital logistics platform Transporeon is continuously working on increasing process efficiencies and matchmaking capabilities on the platform with the goal to benefit all parties in the network.
A growing number of shippers, forwarders and carriers move away from long-term rigid assignment strategies and build competencies for more dynamic and fully automated approaches (spot-market, spot-tenders increasing etc.). Pricing in logistics is historically less mature than in other sectors due to fragmentation and low degree of digitalization. Over the last 18 months Transporeon has increasingly invested in this area, with products like price prediction, lane 360 and its smart transport allocation initiative. TNX’s autonomous procurement service will provide a logical enhancement of Transporeon’s Ticontract tendering offering as well as its spot assignment product Transporeon Best Carrier. It will also provide an entry service to connect onto its digital platform.
“We are excited to welcome the outstanding TNX team to our Transporeon community. Combining TNX’s autonomous procurement services with our leading digital platform will provide significant added value to our customers”, says Stephan Sieber, CEO of Transporeon. “TNX has built a strong product delivering strong results that are proven by several international forwarders as well as shippers achieving significant improvements in their spot buying strategies.”
TNX Logistics Founder and CEO Jonah McIntire says: “By joining the Transporeon Group, we see huge growth possibilities for our business as well as attractive opportunities for our international team of experts. We are looking forward to joining forces with Europe’s premier network for logistics.”
Transporeon, Europe’s largest logistics platform, boosts performance and profitability with every freight load. Founded in Germany in 2000, Transporeon connects a worldwide network of more than 1,300 industrial shippers and retailers with over 120,000 logistics service providers in 100+ countries in real time. Its security-certified platform offers digital solutions for freight benchmarking and sourcing, freight assignment and shipment procurement, time slot management, shipment tracking, and end-to-end supply chain visibility. By leveraging the latest capabilities, including artificial intelligence and predictive analytics, Transporeon solutions cut CO2 emissions, empty runs and truck waiting times while digitising manual processes. Transporeon is located across Europe, Russia, Asia, and the US.
About TNX Logistics
TNX is single-instance, multi-tenant SaaS that applies data and behavioral science to spot procurement. Launched in 2016, TNX has been deployed on five continents with some of the largest and most demanding logistics providers and shippers.