Top 5 Tradelens Alternatives and Competitors

What is Tradelens?

TradeLens is a data and document-sharing platform with visibility, collaboration and analytics tools. Shippers can use the platform to share and store digitized shipping documents centrally so that they are visible yet auditable. It connects shippers with carriers and freight forwarders as well as inland transport providers, customs brokers and banks. TradeLens uses blockchain technology to get information from the supply chain members and track a shipment throughout its journey as well as provide dynamic ETAs. Advance notifications of possible disruptions help shippers mitigate detention and demurrage charges.

Tradelens Features

Some of the key features offered by TradeLens are Digital customs document packs; Direct data; Transport data analytics tools; Complete downstream container visibility; Digital bill of lading; Blockchain-secured versioning. Here below are two of their most important features:

Tradelens Core

TradeLens Core offers shippers a range of digital freight management tools for end-to-end visibility of all shipping containers and document collaboration. It gives shippers reliable insight into shipment status with notifications of carrier release, terminal release, customs holds, etc. This lets them proactively manage transport plans. Publicly available APIs make it easy for TradeLens to be integrated with other systems on the network. It also provides granular analysis and insights on custom dashboards.

Tradelens eBL

The TradeLens eBL is an unbiased, industry-supported digital solution to help cargo owners, shippers and freight forwarders issue, transfer and securely surrender original bills of lading. This is a paperless instrument that can be transferred from person to person and finally surrendered at the time of cargo release. Once carriers issue an eBL, it is recorded and saved on the TradeLens blockchain. This is then transferred to the consignee. When cargo is to be released, the consignee simply clicks on the surrender tab.

Top 5 Alternatives to Tradelens

TradeLens is a secure platform for visibility and document sharing, but it does little in terms of reducing the load on shippers and automating tasks. If you are not satisfied with TradeLens, here are a few alternatives you should consider.

Alternative #1

BuyCo

BuyCo is a global Container Shipping Platform that caters to the needs of large-volume importers and exporters. It addresses the core needs of visibility and control while streamlining operations and reducing costs. BuyCo brings together all supply chain members including freight forwarders, partners and 95% of carriers. This allows shippers to access information centrally and makes comparisons easier.

To further increase productivity, BuyCo automates several steps of the shipping operations. Shippers can use automation tools for shipment planning, vessel scheduling, carrier booking, and more. This not only saves time and resources but also minimizes the margin of error and ensures that operations are executed accurately, in full and on-time, every time.

BuyCo also cuts down email clutter by acting as a document sharing and storage platform and thus keeping all supply chain members on the same page.

BuyCo allows shippers to stay in control over the entire operation. It offers real-time, multi-sourced container tracking information with predictive ETAs and ETDs to avoid exceptions and delays altogether. Lastly, it analyses all the available data to create insightful reports over KPIs. In all, BuyCo not only gives you real-time status updates but also helps make processes more efficient and cost-effective.

Alternative #2

FourKites

FourKites is a visibility platform that gives shippers real-time status updates until their container reaches its destination. The platform offers visibility over time spent in the yard as well as transportation via road, rail, air and ocean routes with automated notifications. Further, it uses APIs, RPA and EDI technology to give shippers predictive ETAs along with actionable recommendations in the case of a disruption along the way. Along with visibility, FourKites acts as a secure document-sharing platform and streamlines the container booking process.

Alternative #3

CargoSmart

CargoSmart is a global shipment management platform that gives shippers an easy way to connect with all other members of the maritime supply chain for visibility, collaboration, shipment execution and compliance. It provides information such as sailing schedules and vessel details from multiple carriers so shippers can compare booking parameters and schedule their operations accordingly. Along with information from the carriers, shippers can also request documentation from other stakeholders and share digital documents. The CargoSmart automated document filing processes further simplifies compliance with international trade regulations.

Alternative #4

Infor Nexus

The Infor Nexus platform connects shippers to other operational partners in the supply chain as well as the financial members. It gathers information from multiple sources so that shippers can know where their shipment is at any given instance irrespective of whether it is being transported by ocean, air, rail or road routes. It also uses machine learning and AI to provide timely alerts for potential disruptions and prescriptive remedies. With real-time collaboration tools, InforNexus makes it easier for shippers to share information and manage workflows. Further, the Infor® procure-to-pay automation looks into invoice approvals and payments to keep the supply chain flowing smoothly.

Alternative #5

Inttra

Inttra connects shippers, logistics service providers and carriers on a common e-marketplace platform. Shippers can access information ranging from vessel details to sailing schedules and more to plan and book shipments as well as use the platform to track their shipment. Shippers can get real-time status updates as well as exception alerts. They can also use the platform to share documentation such as shipping instructions and electronically submit VGM documentation for IMO compliance. Inttra also compiles ocean tracking data to create reports for port performance and other key metrics.

Things to Consider when selecting your Ocean TMS

Having an Ocean TMS is necessary for shippers. You cannot afford to manually check individual shipping websites for information or rely only on the carrier for container tracking. An Ocean TMS can play an important role in streamlining shipping operations. That said, it is important to choose the right Ocean TMS. Every organization will have different selection criteria, but there are four points you should always keep in mind:

Visibility Alone Is Not Enough, You Need Control

Visibility is one of the core reasons why you need an Ocean TMS in the first place. However, you can’t rely on visibility alone to ensure reliable delivery. Tracking information is useful only if you can act upon it. Hence, along with visibility, your Ocean TMS should keep you in control over the entire operation. You should be able to make changes as and when required.

Also, in terms of visibility, it’s important to have both real-time visibility and predictive visibility. Predictive visibility refers to more realistic ETAs and ETDs based on the performance reliability of each carrier on any given line. This will help you select the most reliable vessel to avoid exceptions all together. For example, when you search for carriers along a route on BuyCo, you can see their schedule as well as the average number of days arrivals are on time and delayed.

Automation

A lot of time and effort goes into planning ocean container operations. Shippers spend a significant part of their day searching for shipping schedules, comparing routes and rates, etc. These are repetitive tasks that can be streamlined by automating them with the right Ocean TMS. Automation saves time and resources and makes your team more productive. According to IBM, inefficient processes in a supply chain can cost as much as $180 billion each year. With BuyCo, shippers can automate many day-to-day tasks including searching for ship schedules, booking requests, generating documents, etc. In addition to saving time and money, this also reduces the risk of error.

Collaboration

There are many players in the supply chain and all of them must be on the same page for shipping operations to flow smoothly. Communicating with different members via different modes results in data and documents being spread across multiple tools. There’s a risk of information being lost and a high margin of error. It also lowers the ability to make data-driven decisions when it is not centralized. Hence, you need an Ocean TMS that acts as a communication hub for all stakeholders. BuyCo allows shippers, carriers and all other members of your supply chain on the platform to collaborate and request, share and store documents centrally.

Decarbonization

The effect of carbon emissions on pollution and global weather patterns is evident today and many organizations are paying attention to decarbonization. From their manufacturing processes to transportation, organizations are searching for ways to reduce their carbon emissions. In the case of transportation, along with social consciousness, the EU is also changing regulations on CO2 emissions. This is an aspect of shipping operations your Ocean TMS should help you manage. When you use BuyCo, you get to see the most direct route to your destination as well as the CO2 emissions by different carriers. This helps you choose the carrier and route with the lowest carbon footprint.