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Shipsta by Freightos launches Rate Refresh

IT & Technology
Shipsta by Freightos has launched Rate Refresh to create more resilient contract management through refreshed rates from nominated providers.

Rate Refresh was launched with some key customers earlier this year, helping shippers adapt to market shifts in real-time while making it easier for their providers to refresh rates.

Sports brand Puma has been using Rate Refresh since July and reports significant improvements in efficiency, speed and quality of rate management.

Peter Stockhammer, Head of Global Logistics Procurement at Puma Group, says, “With Shipsta’s Rate Refresh feature, we can quickly adapt to changing market dynamics without extensive work required from us or our partners whilst maintaining full track and auditability of all changes in our contracts globally.”

Rate Refresh helps customers deal with market volatility as pricing and capacity fluctuate by letting them adjust rates quickly without lengthy RFP processes.

They spend less time managing tenders and eliminating frequent, large-scale tenders means shippers preserve key relationships with providers.

Christian Wilhelm, Founder and Managing Director of Shipsta by Freightos, says, “Agile, tech-driven, procurement demands less from both the shipper and their provider, building both relationships and more viable business practices.”