COMPANY MEMBER SPOTLIGHT: SONAR BY FREIGHTWAVES, CHATTANOOGA, TN

SONAR, developed by Freightwaves, serves as the data engine empowering logistics companies to comprehend supply and demand data at a deeper level. It provides multiple rate tools supported by the most accurate rates and lane scores in the industry.

What makes your company special?

Instead of solely gathering data from shippers, brokers, and carriers, SONAR has collaborated with innovative freight tech companies to construct the most current, impartial data source accessible for the supply chain industry. SONAR encompasses tender data from authentic EDI providers, $1.7 trillion in annual global data, and rates on more modes and geographies than any other platform. Companies utilizing SONAR data can stay ahead of the competition by proactively identifying market trends and establishing more precise rates, thus creating opportunities and mitigating risks. Moreover, our data is supported by a team of market experts who offer additional context and insights for optimizing results.

How did you enter the 3PL industry/what is your background in the industry?

SONAR, founded by Craig Fuller, stands as a creation of one of the most influential and knowledgeable leaders in the industry. Nearly everyone at the company boasts over five years of industry experience. We’ve expanded to cater to numerous industry-leading companies and are currently pivoting to target brokers at large, aiming to provide our potent market and rate data to all.

What about the 3PL industry do you like the most?

We value the individuals. As previously noted, we collaborate with a majority of freight tech companies, emphasizing the cultivation of insightful relationships to facilitate swifter and more precise movement for all in our domain. Additionally, accuracy is paramount to us. SONAR, alongside the Freightwaves media team, has made more precise market predictions based on our data than any other voice in logistics.

What about the 3PL industry is most challenging?

Trust. In our case, it’s about establishing trust in the data, given its distinction from other providers. However, trust is something that must be earned, a fact we all recognize. That’s why, for our first five-plus years, we’ve concentrated our efforts on generating precise market signals. Our aim is to furnish brokers with tools they can employ to further bolster trust with their shipper and carrier partners.

What interested you about joining TIA?

SONAR dedicated its initial five years to collaboration with technology partners. Presently, SONAR directs its attention toward the 3PL sector to develop more potent rates and tools, enhancing brokers’ effectiveness. We eagerly anticipate joining TIA and collaborating to effect substantial change within this sphere.

What feature of TIA membership are you most excited about?

We are enthusiastic about engaging with TIA Connect and participating in discussions, but our greatest excitement lies in attending meetings and events. We will have several representatives at Capital Ideas in April and intend to increase our presence at future TIA meetings.

What do you hope to gain overall from membership with TIA?

Stronger relationships with the great people of this industry.

What was your company’s greatest achievement this year?

We have overhauled our platform to replace the previous interface. It is now four times faster, easier to use, and has garnered rave reviews from users. What was once a hindrance for broker teams due to a learning curve has transformed into a secret weapon.

What goals do you have for the future of your company?

We aim to establish larger and more robust consortiums for 3PLs to benchmark their businesses against industry standards. Additionally, we intend to expand our operations into Mexico. Ultimately, we aspire to become the authoritative source for rates and market data within the 3PL sector.

How can TIA help you reach your goals?

We aspire to collaborate with TIA to provide enhanced content and intelligence, enabling everyone to operate more intelligently and effectively while addressing the demands of the logistics and supply chain industry.