Descartes MacroPoint™ and FreightWaves SONAR Integrated to Deliver Advanced Transportation Capacity Management Solution

Rhea-AI Summary

Descartes Systems Group (Nasdaq: DSGX) has integrated FreightWaves SONAR Lane Score data into its MacroPoint™ Capacity Network. This integration aims to enhance freight brokers' decision-making by providing insights on available capacity and market pricing across transportation lanes. The SONAR Lane Score offers a simplified scoring system to assess lane attractiveness, helping brokers prioritize their outreach to carriers. This partnership seeks to address the complexities of transportation challenges and improve efficiency in load coverage, ultimately maximizing brokers' profitability.

Positive

• Integration of FreightWaves SONAR Lane Score enhances data-driven decision-making for brokers.
• Access to over 216,000 carriers and 1 million truckload lanes increases operational efficiency.
• Improved capacity sourcing process helps brokers maximize profitability.

Negative

• None.

WATERLOO, Ontario and CHATTANOOGA, Tenn., Oct. 25, 2021 (GLOBE NEWSWIRE) -- Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, and FreightWaves, an industry-leading provider of data, analytics and news for global supply chains and logistics, announced that FreightWaves SONAR Lane Score data is now available in the Descartes MacroPoint™ Capacity Network. The combination provides freight brokers with a single solution to see available capacity and market pricing intelligence per transportation lane.

“The ripple effect of low freight availability over the last year and a half particularly highlights how tight capacity can impact rates and margins for brokers and shippers, as well as the need for new transportation solutions,” said Travis Rhyan, Chief Product Officer at FreightWaves. “We chose to work with Descartes because of the breadth and depth of its network and unique approach to addressing the transportation capacity challenges we face today.”

The Descartes MacroPoint Capacity Network allows brokers to search its network and contact over 216,000 carriers and their assets on more than 1 million truckload transportation lanes in North America. The lane network shows available carrier density, helping brokers prioritize loads where transportation capacity is constrained. Once the lanes are prioritized based on specific parameters such as carrier ranking, equipment type needed, available capacity, outreach frequency and others, brokers can systematically communicate with the best fit carriers operating within the network.

SONAR Lane Score from FreightWaves allows logistics professionals to view market conditions on each lane via a simple score system that represents how attractive—or not—it will be to cover open loads in that lane. This insight allows decision makers to prioritize lanes where capacity is tight to proactively adapt to market rate movements and minimize risk.

Integrated to the Descartes MacroPoint Capacity Network, SONAR Lane Score delivers a critical indicator of lane attractiveness which, combined with the calculated inbound capacity score from the Descartes solution, provides immediate insight into current market conditions across the North American over-the-road network. The combination also enhances day-to-day outreach as brokers can use lane scores as automation triggers to send offers to the most appropriate carriers servicing the network. Together, Descartes and FreightWaves facilitate and automate load coverage decision-making processes by giving logistics professionals critical data points to prioritize and execute in a reliable and more cost-effective way.

“Today’s transportation challenges are too complex to be addressed by traditional manual methods and assumptions,” said Xavier Bignon, Senior Product Manager at Descartes. “FreightWaves’ SONAR Lane Score helps to simplify the capacity sourcing decision-making process, making it easier for brokers to serve their customers and maximize their bottom line.”

To learn how the Descartes MacroPoint Capacity Network is addressing the challenges of real-time freight visibility and automated freight matching, visit: https://www.macropoint.com/.

To see why FreightWaves SONAR Lane Score is totally different from other bulk lane rate tools on the market visit: https://sonar.freightwaves.com/features/lane-scorecard.

About FreightWaves

FreightWaves is the world’s leading provider of freight market forecasting, data, news and analysis. Logistics and supply chain firms depend on FreightWaves for benchmarking, analytics, monitoring and forecasting of pricing, capacity, demand, energy and carbon intelligence. The company provides the freshest data and market insights through SONAR, a subscription SaaS platform, and through the world’s largest streaming media network focused on logistics and supply chain information.

FreightWaves SONAR provides near real-time freight market data and supply chain intelligence to 500+ enterprises. FreightWaves Carbon Intelligence provides supply chain firms with transparency on carbon emissions and solutions to achieve carbon neutrality.

FreightWaves Media operates the FreightWaves, American Shipper and Modern Shipper brands. FreightWaves Media serves more than 1.5 million unique monthly visitors on its websites, generates 15 million monthly minutes of streaming TV and 100,000 monthly podcast downloads.

About Descartes

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

Descartes Contact
Cara Strohack
Tel: +1(800) 419-8495 ext. 202025
cstrohack@descartes.com

FreightWaves Contact
Matt Stubbs
Director, Public Relations
mstubbs@freightwaves.com

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

FAQ

What is the significance of Descartes' partnership with FreightWaves for DSGX stock?

The partnership enhances the value proposition for DSGX by improving logistics efficiency, potentially impacting stock positively.

How does the SONAR Lane Score affect Descartes' MacroPoint Capacity Network?

The SONAR Lane Score provides brokers with market insights to prioritize transportation lanes effectively, improving decision-making.

What should investors know about the recent developments of DSGX?

Investors should note that the integration with FreightWaves is designed to simplify logistics processes, which could enhance revenue streams.

When was the partnership between Descartes and FreightWaves announced?

The partnership was announced on October 25, 2021.