Air cargo platform Aerios has teamed up with booking portal provider CargoAi to integrate real-time rate and capacity data into its charter quoting tool.
The partnership between the two companies, both members of the Cargo Tech group, will see CargoAi’s live aggregated rate and capacity data included in Aerios’ Commerical Pricing Insight module with the aim of giving charter carriers greater visibility into market conditions.
“Charter carriers typically have limited access to live commercial data during the quotation phase and instead rely on informal market knowledge or static and outdated data sources,” the company said in a press release.
“Within larger carriers, charter sales teams often operate separately from the general airfreight sales team, so they don’t typically have access to live airfreight rates or up-to-date information on which lanes are currently served by airfreight or how often.
“All of which means quotes are often generated ‘in the blind’ and can result in inaccurate pricing, lost business opportunities, and missed revenue.”
Aerios said that once a route is constructed, users can view how their quote compares to the wider market without switching tools.
“It can display the aggregated current market rate, along with historical and forecast trends, helping to highlight whether a route is actively served by airfreight and its frequency.”
“Getting real-time visibility on the next few weeks in terms of rate trends and capacity change is a game changer for the industry, which has been relying for a very long time only on past data with a significant delay,” said Matt Petot, founder and chief executive at CargoAi.
The additional tool is the second development from Aerios this year. In January, the company added a new Artificial Intelligence module that it hopes will create efficiencies by automating responses to charter requests.
