Business Challenges
The client faced challenges in analyzing variables that impact pricing and required an intelligent system that would predict the optimal price that aligns with business objectives. There was a need to improve efficiency in the existing RFP and pricing workflow.
- Delays in determining lane-level pricing and bid analysis for shipping contracts
- Analyzing large amounts of internal and external data from various sources was time-consuming
- Low bid win rate
QBurst Solution
A cloud-based solution that ensures lane/pricing standardization, automates qualification, and integrates predictive pricing for informed decision-making. The solution does this based on changing scenarios and predicts the right outcome with a high level of accuracy.
The solution comprises three modules:
- Shipper file processing
- Pricing advisory
- Market intelligence
The solution enables stakeholders to upload the shipper's RFP and adjust settings such as tender ID, date, origin, industry, destination, mode, services among other parameters. The pricing advisory and market intelligence modules join forces to help streamline the end-to-end pricing process by validating prices from globally indicated benchmarks leveraging AI/ML capabilities.
