Trax Open Logistics Settlement Platform

The Trax Open Logistics Settlement Platform is a transportation spend management solution designed to help businesses manage and control their global transportation costs. According to the vendor, this platform caters to clients with complex supply chains, including some of the world's largest networks. It is utilized by supply chain managers, logistics managers, transportation managers, procurement managers, and finance managers across various industries such as retail, consumer packaged goods (CPG), technology, manufacturing, and healthcare & life sciences.

Key Features

Transportation Spend Management: According to the vendor, the Trax Open Logistics Settlement Platform offers transportation spend management solutions to help businesses manage and control their global transportation costs. It aims to optimize transportation spend, improve data quality, and provide insights for logistics management optimization strategies.

Freight Audit & Freight Data Management: The vendor states that Trax provides comprehensive freight audit and freight data management capabilities. Users can manage international transportation, including freight audit, rate management, carrier payment, and data and policy compliance. The platform ensures that transportation invoices meet contractual rate agreements and comply with enterprise procure-to-pay policies.

Performance Management: According to the vendor, the Trax Open Logistics Settlement Platform includes performance management features to help users master the financial performance of their international transportation network. Users can gain insights into match rates and accrued vs. actual variances for ongoing optimization. The platform provides visibility into financial commitments before an invoice is posted into financial systems, reducing the need to account for inconsistencies from vendors in accrual planning.

Transportation Optimization: The vendor claims that Trax's transportation optimization features help users optimize their transportation network and achieve better control of transportation spend. The platform allows users to build a nimble network by working with manufacturers, suppliers, distributors, and other partners to ensure on-time, quality shipments. Users can identify opportunities for cost reduction, waste elimination, and increased distribution capabilities.