EKA Solutions Inc. on Monday (July 26) launched a cloud-based, touchless trading and execution Software-as-a-Service (SaaS) platform through the EKA Supply Chain TMS.
“EKA’s touchless solution enables supply chain participants – carrier, broker or shipper – using the EKA supply chain Omni-TMS to benefit from the highest level of real-time automation when trading and executing loads with their trusted freight partners,” said JJ Singh, founder and CEO for EKA Solutions, Inc., in the announcement.
“As a result, each trading partner benefits from the lowest cost of handling a load, superior customer service and sustainable revenue, profitability and business growth,” he added.
One key pain point can be found in trucking, with significant friction related to the coordination of transporting materials to and from a construction site.
Tom Spencer, chief revenue officer of TRUX, told PYMNTS that this particular workflow is “almost a hidden market.” With TRUX recently launching a Software-as-a-Service platform designed to facilitate the coordination of these workflows, as well as B2B payments to trucking companies, the FinTech arena is beginning to set its sights on the sector.
“EKA’s innovative and best-in-class solution will help carriers, brokers and shippers using Omni-TMS to integrate and automate all trading and execution life-cycle workflow processes between them, from load tendering to booking to load tracking to invoicing and settlement, in a touchless manner, with manual handling limited to exception events,” said Mark Walker, investor, president and CDO of EKA.
In other logistics news, Uber announced last week that it would acquire Transplace from TPG Capital in a $2.2 billion deal. With the acquisition, the ridesharing giant will expand its platform toward the more active management of freight.
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