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Transfix Launches Tool to Consolidate RFP and Freight Procurement Process

Transfix has added a new tool that allows shippers to complete the request for proposal (RFP) and freight procurement process in one place.

The new RFP Manager facilitates every step from sourcing to settlement and streamlines a process that is often manual and time consuming, Transfix said in a Tuesday (Nov. 14) press release.

“The RFP process has long been outdated and in need of an innovative overhaul,” Transfix Co-Founder and CEO Jonathan Salama said in the release. “I’m incredibly excited to bring a product to market that empowers both shippers and their suppliers and sets a new bar for freight procurement solutions.”

RFP Manager, which is a new feature on the Transfix Shipper App, brings together automated bid management and acceptance workflows and powerful analytics capabilities on a centralized dashboard, according to the release.

With this tool, shippers can partner with selected carriers at a fair market price, and do so in less time than it takes to run an RFP or mini-bid, the release said.

Shippers can use the tool’s digitalized and automated processes to launch an RFP in minutes, invite brokers and carriers to participate in the bidding, and compare carrier bids, per the release. After making data-driven decisions, shippers can then begin executing freight, while remaining within the Transfix Shipper App.

The tool streamlines the process for carriers, too, as they can access the RFP through a portal link emailed to them by the shipper and then easily submit their bid, the release said.

“Market research and a robust beta program were key development milestones that delivered crucial insights and learnings,” Transfix Senior Product Manager Savar Sareen said in the release. “As a result, we recognized — and prioritized — the importance of building a product that not only streamlined the RFP process but allowed shippers to feel confident running RFPs more frequently to address the volatility in the market.”

PYMNTS Intelligence has found that the transportation, logistics and shipping business has undergone a foundational shift to become increasingly digital, with companies moving away from Excel spreadsheets to online platforms.

When investing in innovations to modernize their business, companies in this sector tend to prioritize the solutions that will result in an improvement in their relationships with their vendors, according to “Accounts Payable Automation: Transportation Companies Innovate to Drive Growth,” a PYMNTS and Routable collaboration.