Trax Named a Representative Vendor in Gartner 2023 Freight Audit and Payment Market Guide.
Global leader in Transportation Spend Management (TSM) solutions, Trax Technologies, has been recognized again in the Gartner® report, “Market Guide for Freight Audit and Payment Providers” as a representative vendor. Freight Audit and Payment (FAP) is a fast-growing industry backed by increasing demand for credible data insights for cost optimization.
According to the report, “Lack of freight spend visibility combined with increasing globalization are increasing complexity and making it more difficult to have a holistic view of transportation costs. Finally, shippers are starting to look to their technology and service providers for resources and information to support sustainability commitments.”
As a global provider, Trax is highlighted as a vendor that is using complex data to empower shippers’ sustainability impacts measurement in addition to traditional FAP functions, including invoice collection, auditing, and transportation invoice payments across multiple modes and regions.
The report, written by Gartner analysts Brock Johns, Brian Whitlock, and Brian Day, notes that:
- Though foundational FAP services have not changed much throughout the last 10 years, vendors now provide customers with needed freight spend data and industry counsel for informed decision-making.
- Shippers should outsource FAP processes after thorough analysis of vendor capabilities due to notable cost savings and potential for automated optimization processes.
- Global shippers need FAP providers with global capabilities to improve functionality and business processes.
For additional insights, get the complete report, compliments of Trax here.
Trax’s Carbon Emissions Manager provides supply chain leaders with a credible emissions monitoring system in advance of the anticipated new U.S. Securities and Exchange Commission (SEC) climate disclosure rules for reporting on scope 1, 2 and 3 emissions. Company leaders are expected to be required to have an emissions monitoring system in place by January 2024 to have reporting data available for the SEC by 2025.