FreightWaves SONAR Signals + Kingsgate Logistics

As of last Thursday, Kingsgate now offers FreightWaves’ SONAR Signals to all current and prospective clients right on our website before even requesting a quote. Our sales manager, Brad McCaleb, said, “This should be an excellent jumping-off point for customers and prospects to get a free glimpse of the type of data we can provide for them.” Kingsgate has invested in the advancement of our tech capabilities and we’re consistently looking to be ahead of the curve by helping our customers make informed decisions.

We’re ready to fill whatever role customers may need in a 3PL provider—from strategic partner to on-demand resource. 24 hours a day, 7 days a week, every day of the year, no matter the type of shipment, we’ll be accumulating and sharing knowledge and data at every touch point to ensure our customers are minimizing risk and cost. We’re able to provide this level of data through added partnerships with industry experts, like FreightWaves.

Kingsgate’s Senior VP of Strategy and Innovation sat down for a Q&A to explain a bit more about this feature and our partnership with FreightWaves.

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1. What is the SONAR Signals feature?

SONAR Signals provides our shipper community with some insight into the current market conditions of a specific region with a simple dial/score view. It helps them to understand where the negotiation strength may be for an origin market as well as the destination market. When you see the signal lean towards the shipper on the dial (a score of 0-39), it means the shipper has more strength in the negotiation process (i.e. there may be less freight coming out of that area and excess capacity) if the dial is leaning towards the carrier (60-100), the carrier has the strength (perhaps less equipment, excess shipments). A score of 40-59 means it’s a neutral market currently.

2. Describe how the SONAR Signals’ data is collected.

SONAR’s proprietary algorithms use a variety of datasets, such as historical volumes and tender rejections, as well as previously assessed spot rates, found in SONAR to create a custom pricing power score.

3. How does this help our prospective and current customers?

It helps to provide a fuller picture of what may be happening in a market. This can explain current shifts or swings in the market as this data is updated every single day. This isn’t old, stale data being used to make decisions. We provide this as a free tool to our current and prospective customers just to allow them to get a feel for the data that we use to manage their transportation needs.

4. How do we hope to expand and provide more insights to Kingsgate customers?

This is a small part of a bigger plan to increase the data we can provide to our shipper community. At Kingsgate, we have spent the last few years significantly expanding on our use of technology and aggregating data amongst multiple datasets. This is a way to give some people a small taste of the data at our disposal and we’ll be looking to provide greater insight in the coming months.

5. Why do we value our partnership with the FreightWaves team?

The FreightWaves team has been an incredible partner for our group. Culturally, we fit really well together as they share the same sentiment as we do in regard to being restless as an organization. They continue to find new ways to bring value to the supply chain and we believe the partnership with their team allows us to quickly bring innovations to the shipper community.

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We’re so excited to see what this feature can do to help our customers! Thanks for reading.

All the Best,

Jeff Beckham