Emerge taps DAT for rate benchmarking for its Emerge Dynamic RFP platform

Scottsdale, Arizona-based Emerge, a provider of its proprietary Digital Freight Marketplace (DFM) and TMS focused on accelerating productivity and increasing visibility for supply chain stakeholders and freight procurement, recently announced, that it has tapped DAT Freight & Analytics, operator of the largest North American-based truckload freight marketplace, with a database of $137 billion in annual market transactions, as the exclusive branded truckload rate benchmarking service for Emerge’s Dynamic RFP platform.

Emerge said that this will enable its customers to validate pricing through DAT’s comprehensive rate data, which is accessible through Emerge’s Benchmarking feature within the Emerge Dynamic RFP platform, which was introduced in June. 

Emerge Benchmarking, the company explained, is a Machine Learning (ML)-enabled product updates and aggregates freight industry data from “numerous trusted sources,” equipping shippers with real-time business intelligence and market insights, in order to quickly evaluate options and also make informed decisions.

Andrew Leto, Emerge Founder and CEO, told LM in June that a key driver for Emerge Benchmarking is focused on how the ongoing volatility in the freight market makes it challenging for shippers to know when and how to react to a business environment where rates and capacity change constantly and significantly.

And in a statement focused on the DAT collaboration issued last week, he said that with DAT’s rate data displayed in Emerge Benchmarking, users can compare their pricing against the industry standard without having to leave the Emerge workflow.

“We are committed to providing our customers with the data they need to make strategic decisions and adapt quickly to changing market dynamics,” he said.

Mike Weaver, DAT Vice President of Sales, said in the same statement that both DAT and Emerge understand why customers want to compare their rates to a trusted third party when they procure freight services.

“The need for clear, independent, accurate, and statistically valid benchmarking has never been more vital,” he said. “We’re excited to work with Emerge and help their customers develop more successful RFPs and stronger relationships among all parties to their freight transactions.”

When Emerge Benchmarking was first rolled out in June, Leto explained understanding market bid activity and market insights enables shippers to hedge during periods of market instability.

“Shippers know how they are performing against industry averages and have the granularity to isolate specific lanes where they are below market and can take action through mini bids to address the issue,” he said. “The information they gain through Emerge Benchmarking is real-time, actionable, and all in one place.”

When asked to show how Emerge Benchmarking is used by shippers, Leto said that at any moment in time, Emerge Benchmarking users can compare their specific pricing for one particular lane against the market.

“Knowing if current pricing is at, above, or below the industry average, users can take action to address rates in those lanes, on a 3-, 6-, 9-month or annual bid,” he said.