Freight Technologies (Fr8Tech) has launched a digital freight-matching platform offering less-than-truckload services (LTL) in Mexico.
The new Fr8Now platform uses machine learning (ML) algorithms to match shippers with carriers, Fr8Tech said in a Thursday (March 16) press release.
“We are confident that Fr8Now will be a game-changer for businesses looking to ship goods both in-country in Mexico and from Mexico to the exterior,” Fr8Tech CEO Javier Selgas said in the release. “We offer a value-add to small businesses in Mexico seeking economic product distribution as well as small carriers seeking local distribution routes — so it’s a win-win solution on a number of fronts.”
PYMNTS research has found that the drive to modernize procurement systems and logistics and supply chain functions is happening across industries.
Sixty-six percent of retailers, 59% of manufacturers, 45% of finance and insurance companies and 27% of healthcare companies are investing in digital technology to modernize their procurement processes, according to “Digital Payments: Modernizing Procurement Processes,” a PYMNTS and Corcentric collaboration.
Among those who are doing so, many are also investing or planning to invest in upgrades to their logistics and supply chain functions. That is the case with 55% of the manufacturers, 54% of the retailers, 40% of the finance and insurance companies, and 34% of the healthcare companies, the report found when surveying 500 chief financial officers (CFOs) across the four industries.
The new Fr8Now platform, together with its freight-matching functionality, gives businesses more control over their shipping processes by allowing them to track their shipments through the platform’s real-time portal, according to the press release.
The new platform for the LTL segment joins two other Fr8Tech digital platforms: Fr8App, which handles B2B cross-border shipping and domestic shipping within the United States-Mexico-Canada Agreement (USMCA) region, and Fr8Fleet, which helps enterprise customers manage their dedicated truck services and operations, according to the company’s website.
“The successful rollout of Fr8App throughout North America has paved the way for the launch of Fr8Now, which is set to empower Mexican businesses with cutting-edge LTL freight-matching technology and provide an entry point into the U.S. LTL market,” the company said in the release.
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