Meet Catapult, an intuitive digital platform that helps businesses make decisions based on freight rates. The founders were tired of the manual process of keeping track of rates through word documents, excel spreadsheets and decided to build a solution to help manage all the different rates from different carriers.
What does all this technology mean for your business? Virgil Ferreira, the CEO of Catapult joins us to talk about how their platform helps businesses see rates from different carriers including ocean, air and ground, giving logistics providers more visibility into their rates so they can increase their margins. A Challenge that logistics providers face is that they don't have access to industry data but Catapult changes that as providers can also compare their own data with industry data and see it all in a standard, easy-to-use view. The biggest challenge logistics providers face is understanding how to get the best market rate. With Catapult, businesses can use the tool to see the gaps in their system and focus on improving profit, which all providers are looking to do!
Their typical clients are mid to global sized forwarders with a large number of vendors and a large customer base. These are clients looking for technology enabled solutions and need help getting their rate management house in order. By using a rate management platform, logistics providers can apply margins where they want, map different features into an internal format and use this across different modes. As Virgil says, the main things companies should be focusing on in 2020 is understanding what the customer is expecting and encouraging interoperability across different structures.
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