This is the fifth in an ongoing series of blog posts that will introduce you to Strattam’s diverse portfolio of companies – including what they do and who they serve, their vision for doing business in today’s market, and their plans for innovation within their industries.
Meet the Portfolio: Trax Technologies
In February 2015, Strattam Capital completed a majority investment in Trax Technologies, Inc., whose leading Transportation Spend Management platform serves some of the largest and most complex blue-chip organizations in the world. Strattam has helped Trax expand the breadth of capabilities offered by its differentiated solution, enter new segments of the market, and assemble a world-class management team.
Trax provides a comprehensive transportation spend management, data analytics and business-to-business payments platform that allows its customers to realize significant freight cost savings, achieve greater visibility into their transportation networks and optimize their supply chains. Trax is the largest privately held provider of transportation spend management solutions and has a truly global footprint. Annually, the company manages approximately $20Bn in annual spend across all modes of transportation and analyzes approximately 16 million freight invoices generated in over 120 countries. The company was founded in 1993 and is headquartered in Irving, Texas.
Trax is committed to leading the industry of Transportation Spend Management with comprehensive technology solutions and services that help customers build efficiency and generate value from the inside out.
Products & Services:
Trax Technologies offers a comprehensive Transportation Spend Management platform that includes functionality across a broad spectrum of global freight audit and logistics requirements. Specific products and services include:
- Freight Data Management
This product suite enables customers to confidently manage their international transportation spending across all modes and geographies. Specific features include freight audit, rate management, carrier payment, and data and policy compliance with operational and data quality controls for their networks.
- Financial Management
This suite provides organizations with best-in-class visibility into their transportation spend data in order to avoid surprises and accurately budget, allocate, and accrue for logistics expenses. The end result is cost savings, transparency, efficiency, and risk management.
- Carrier Management
Trax’s Carrier Management solutions help customers build collaborative relationships with their global carrier networks to drive better logistics performance, an improved customer experience, and lower costs.
- Transportation Optimization
Designed to bring transportation and planning to the forefront of supply chain optimization, these solutions help customers leverage massive amounts of data to gain valuable insights that inform global supply chain decision making and planning.
Trax Technologies serves more than 160 top-tier enterprise customers in a number of industries around the globe, including companies such as Apple, Nike, HP, Pfizer, and Starbucks.
New & Noteworthy:
In November 2018, Trax announced a merger with Veraction to form a combined company that would lead the market in global Transportation Spend Management solutions, managing over $20 billion in logistics spending across all transportation modes. The resulting business, which retained the Trax name, now offers customers a single global technology platform across all shipping modes, along with a leading suite of transportation spend management analytics.
Visit the Trax Technologies website at www.traxtech.com.