The first step to improving your freight contracts is understanding where they stand in relation to the market. By uploading your freight rates and volumes into Xeneta, you can leverage Xeneta’s benchmarking capabilities to find out where you can improve your freight rates.
The Spend Overview collects all of your uploaded freight rates and volumes and breaks them down by corridor. It is immediately useful for finding the corridors with the largest spend and the largest volume. It also offers insight into any discrepancies or outliers from the market benchmarks that Xeneta offers.
The Saving Potential is a calculation that demonstrates how much you could theoretically save for shipping on a corridor. The Spend Overview provides a Saving Potential for both corridors and individual port-to-port routes.
Finding corridors with a high Saving Potential allows you to focus your effort on reducing costs through negotiations of better contracts on specific lanes. This way you can leverage the Xeneta market average price to set more preferable baselines for future contracts.
Auto-generated Reports take snapshots of your valid rates and the associated Xeneta market rates for each month. Once you’ve had your rate data in Xeneta for several months, you’ll be able to look back through your auto-generated reports to see how your rates compare to the market at different parts of the year.View example in Xeneta
In this manner, you will be able to understand how your rates compare to the market and the sort of rates to expect once you enter the tender process.
In this manner, you will be able to understand how your rates compare to the market, whether the market has moved favorably or otherwise relative to your rates, and the sort of rates to expect once you enter the tender process.