Transporeon buys TNX Logistics to offer autonomous spot freight procurement
European logistics technology platform Transporeon today announced its acquisition of TNX Logistics, an innovative start-up in the field of autonomous procurement, which it will use to launch autonomous procurement for road freight spot capacity to new and existing Transporeon customers.
Founded in 2016, TNX offers software that allows shippers and forwarders to autonomously procure up to 90% of road freight spot volumes – using “data and behavioral science to support shippers, forwarders and carriers to better match capacity in an increasingly dynamic market”. TNX has been deployed on five continents “with some of the largest and most demanding logistics providers and shippers”, the company said.
Transporeon already 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. Claiming to be Europe’s largest logistics platform, it 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.
Transporeon said Artificial Intelligence (AI) and Big Data “are more and more impacting the logistics industry”, and “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”.
It said growing number of shippers, forwarders and carriers were moving away “from long-term rigid assignment strategies” and building “competencies for more dynamic and fully automated approaches – spot-market, spot-tenders increasing, etc.”
It said pricing in logistics “is historically less mature than in other sectors due to fragmentation and low degree of digitalization”, but it said 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.”
Stephan Sieber, CEO of Transporeon, commented: “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. 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 said: “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.”