As the supply chain increasingly moves toward greater interconnectedness and visibility between carriers, brokers, and shippers, EKA Solutions said 2021 has already started out strong with adoption of its cloud-based integrated freight management ecosystem.
EKA Omni-TMS for carriers is a transportation management system designed to give small and medium-size carriers the ability to compete with large fleets.
“In just three months, a rapidly increasing number of small carriers have adopted the EKA Omni-TMS, empowering these companies to ‘tech up’ for the future,” said J.J. Singh, founder and CEO, in a news release.
He told HDT that at least 33% new customer growth expected in the first quarter of this year compared to the fourth quarter of 2020.
EKA’s goal was to target a diverse group of small-fleet customers for its TMS, typically those operating 30 trucks or less. “Rapid acceptance confirms our market assumptions were correct, which is very gratifying,” Singh told HDT.
These customers cover a diverse range of businesses, he said, including long haul, medium and short haul freight, using all classes of trucks, and with equipment including dry van, temperature-controlled, flatbed, bulk and livestock.
Although the COVID-19 pandemic negatively affected its business in the first half of 2020, Singh said things turned positive in the second half of the year as the economy and freight business environment improved.
This year, EKA is targeting an “exponential growth in revenue,” Singh said. All of its TMS and visibility products are being continually enhanced, he said, and EKA will introduce Shipper TMS for small- and medium-size shippers in 2021.
Also, in 2021, EKA will integrate its supply chain TMS with third-party services to deliver key services at affordable prices to small and medium size carrier, broker and shipper customers.
“EKA TMS is helping small carriers transport all types of commodities, enabling them to handle different customer pricing methods, fluidly pay drivers and settle with owner-operators, and provide complete freight movement visibility to their customers and trusted partners at affordable technology stack and operating costs,” said EKA President Mark Walker in the news release.
EKA Solutions, Inc., provider of a cloud-based integrated freight management ecosystem platform, dFEMXTM, and cloud-based end-to-end supply chain Omni-TMSTM platform for carriers, brokers and shippers announced today a strategic channel partner collaboration with FreightWaves. The strategic collaboration will offer FreightWaves SONAR data visualization tools for brokers, carriers and shippers with forward-looking analytics on freight movements including rates, volumes and market dynamics.
“EKA is excited to work with FreightWaves, the global leader for freight market analytics and forecasts. We want to offer a seamless user experience in which EKA users can simultaneously access SONAR products through the EKA Omni-TMSTM platform and use it seamlessly to make pricing decisions. The goal is to increase EKA customer productivity and improve profitable decision-making.” said JJ Singh, Founder, Investor and CEO of EKA Solutions, Inc.
“Also, EKA smart pricing value-added tools will enable it to ingest FreightWaves SONAR actionable intelligence and blend it with unique customer data to deliver targeted and improved pricing decisions for each specific use case to each EKA broker, carrier and shipper customer,” said Mark Walker, Investor, President and Chief Digital Officer for EKA Solutions, Inc.
“Software and technology are accelerating the pace of innovation in the supply chain business and, among other things, delivering innovative capabilities to improve management of operations and eliminate uncertainty and doubt about market pricing and direction” stated Craig Fuller, Founder and CEO of FreightWaves. “We’re excited to work closely with the experienced and talented supply chain leadership team at EKA Solutions, Inc., that understand freight price volatility, freight price risk and potential solutions to manage logistics price movement. The seamless integration of innovative SONAR actionable intelligence solutions with the price management solutions embedded in EKA Omni-TMSTM platform will accelerate the delivery of transformative price transparency solutions to meet the industry’s current and emerging needs.” added Fuller
About EKA Solutions, Inc.
EKA Solutions, Inc. provides a transformational cloud-based SaaS digital freight ecosystem management platform, dFEMXTM, to manage all the customer’s freight businesses including freight exchange and third-party services. As part of dFEMXTM Offering, EKA provides the Smart, Unified Platform EKA Omni-TMTM for – Virtually – Everyone. EKA Omni-TMSTM is designed to transform the transportation and logistics industry. It empowers small, medium, and large size broker, carrier, and shipper businesses to operate from quote-to-cash with affordable and best-in-class digital tools, enabling the higher performance demanded in tomorrow’s supply chain. With real-time information, EKA Omni-TMSTM enables brokers, carriers, and shippers to provide visibility and transparency as they fluidly trade across an expanding and verified network with key, trusted partners.
About FreightWaves SONAR
FreightWaves SONAR is the industry’s most comprehensive freight data platform with unparalleled insights and forecasts.
SONAR tracks daily activities in the domestic and global environments, with freight market data generated from thousands of exclusive sources with more than $200 billion of contract freight transactions. SONAR offers historical and current freight rate, demand and capacity index data across all modes. The industry’s first and fastest platform uses current tender rejection rates to create the most current freight activity and logistics rate indices in the market.
The only freight forecasting platform that combines contract tender data with spot rate data, SONAR creates predictive freight rates. Plus, SONAR uses artificial intelligence to develop consistently updated forecasts to give you the most reliable predictions of where trucking spot rates, supply chain demand and logistics capacity are headed over the next 12 months.
Rather than relying on one set of data, SONAR is the only freight market analytics platform that combines historical freight market data with real-time market activity to offer logistics rate forecasts, spot rate forecasts, forecasted freight rates, and visibility into the freight marketplace – at local, state, national and global levels. The SONAR freight forecasting model is the only one in the market that uses tenders from the contract marketplace to track real-time freight market capacity and demand. SONAR provides the fastest freight market data in the world, across all major modes of traffic.
SONAR has proprietary data that comes from actual load tenders, electronic logging devices and transportation management systems, along with dozens of third-party global freight and logistics-related index providers like TCA Benchmarking, Freightos, ACT, Drewry and DTN.
EKA Solutions is integrating forward-looking analytics on freight movements into its Omni-TMS platform.
EKA provides a cloud-based integrated freight management platform and supply chain Omni-TMS platform for carriers, brokers and shippers. A new strategic collaboration will offer FreightWaves’ Sonar data visualization tools, with forward-looking analytics on freight movements including rates, volumes, and market dynamics.
“We are seeking to offer a seamless user experience where EKA users can simultaneously access Sonar products through EKA Omni-TMS platform and use it seamlessly to make pricing decisions. The goal is to increase EKA customer productivity and improve profitable decision-making,” said J.J. Singh, EKA founder and CEO, in a statement.
In addition, the company said, EKA smart pricing value-added tools will allow it to blend Sonar data with data for improved pricing decisions for each specific use case.
The integration of Sonar actionable intelligence solutions with the price management solutions embedded in EKA Omni-TMS platform will “accelerate the delivery of transformative price transparency solutions,” according to the announcement.
EKA Solutions, which offers a cloud-based integrated freight management ecosystem platform, has expanded its collaboration with Transflo to implement digital and automated transportation document workflow between shippers and carriers.
“While EKA’s new investments are focused on implementing [artificial intelligence], machine learning and other technological solutions to transform the supply chain, EKA is also focused on delivering six-figure savings to its customers by digitizing document workflows across the transportation chain,” said J.J. Singh, EKA founder and CEO, in the announcement.
The collaboration will deliver smart electronic documents solutions, such as electronic bill of lading (eBOL), that results in reduced physical contact, fewer labor hours, higher document accuracy, and improved cashflow, with a high level of safety, searchability and security, Singh explained. “Digitizing BOL is just one important step of going contactless.”
Transflo by Pegasus TransTech is a mobile, telematics, and business process automation provider to the transportation industry. Through its digital platform, the company delivers real-time communications to fleets, brokers, and commercial vehicle drivers. The company’s mobile and cloud-based technologies digitize over 500 million shipping documents each year, representing more than $84 billion in freight bills.
EKA Solutions provides a cloud-based digital freight management platform to manage all the customer’s freight businesses, including freight exchange and third-party services. The EKA Omni-TMS is part of that platform, available for small, medium, and large size broker, carrier, and shipper businesses.
EKA Solutions launched a cloud-based, end-to-end predictive visibility platform for carriers, brokers and shippers of any size.
The quest for visibility is driving much of the current supply chain investment. Recent research by Gartner Group forecasts that by 2023, 50% of global-leading enterprises will have invested in real-time transportation visibility solutions.
EKA’s solution relies on flexible location data sources, including electronic logging devices, mobile driver work order apps, and data systems integration to provide real-time accurate visibility into where goods are and when they will be delivered. Predictive visibility and alert capabilities are available to all carrier and broker customers, regardless of whether they subscribe to EKA’s Omni-TMS platform. ETAs (estimated time of arrival) factor in real-time route management, driver hours of service, traffic, and weather conditions.
The cloud-based solution features low transactional or monthly fees, so customers pay only for what they need or use. Depending upon the service level needs of the subscriber, visibility information can be any time interval – minutes or hours. The service level is configurable.
Information is transmitted in a controlled manner by the carrier or broker to the customer via their choice of numerous methods, including email, text messaging, third-party systems and EDI.
Web services interface with PCMiler/Trimble Maps, select ELDs, the TransFlo Mobile app, and carrier and broker operations and shipper systems.
EKA provides a digital freight management, dFEMX, platform to manage all the customer’s freight businesses, including freight exchange and third-party services. EKA serves as the system of record across multiple applications and seamlessly ties into other freight solutions (TMS, driver apps, etc.) and third-party services.
“Industry experts forecast predictive transportation visibility will soon be a requirement for all supply chain trading participants. Existing Visibility and ETA services are expensive and create structural misalignment and primarily cater to large shippers and 3PLs,” said JJ Singh, founder and CEO of EKA Solutions. “EKA’s predictive visibility solution empowers carriers and brokers of any size to proactively lower operating costs and offer real time visibility to all customers at costs that are competitive with their large competitors.”
Brokers, carriers and shippers are all searching for more accurate information when it comes to the supply chain. Gartner has predicted that 50% of enterprises will have invested in real-time transportation visibility solutions by 2023.
For many, accessing this functionality requires large investment in new technology or transportation management systems (TMS). EKA Solutions, though, has introduced a real-time predictive visibility platform that is available as part of its EKA Omni-TMS platform or as a standalone product for non-EKA subscribers.
“Industry experts forecast predictive transportation visibility will soon be a requirement for all supply chain trading participants,” said JJ Singh, founder, investor and CEO of EKA Solutions. “Existing visibility and ETA [estimated time of arrival] services are expensive and create structural misalignment and primarily cater to large shippers and 3PLs. EKA’s predictive visibility solution empowers carriers and brokers of any size to proactively lower operating costs and offer real-time visibility to all customers at costs that are competitive with their large competitors.”
Singh told FreightWaves the solution is an added cost for EKA Omni-TMS subscribers or available as a separate item for nonsubscribers.
“However, it is a very affordable cost versus existing major and standalone providers of visibility services,” he said. “Also, we believe EKA ETAs are very robust and accurate because of the robustness of the ETA algorithm that considers driver hours-of-service availability metrics, driver stops, route considerations, traffic, weather conditions, etc.”
Mark Walker, investor, president and chief digital officer for EKA, said the solution is built upon leading technology to deliver accurate ETAs.
“EKA’s solution relies on flexible location data sources including [electronic logging devices] and driver apps, cutting-edge ETA algorithms, low-cost data systems integration and visibility layers to deliver real-time, accurate visibility into where goods are and when they will be delivered,” he said.
Singh said the solution can provide visibility within multiple time intervals, including minutes, based on the configured service level. The information can be transmitted by the carrier or broker to the end customer through most common transmission levels, including email, text and electronic data interchange.
“Embedding affordable predictive visibility solutions to help EKA subscribers — carriers, brokers and shippers — deliver on time and optimize their operations, among other things, has always been a primal or founding strategic thrust of EKA Omni-TMS platform deliverables,” Singh said.
According to EKA, improved visibility leads to:
Improved customer satisfaction and retention
Improved on-time delivery performance
Increased labor efficiency and productivity
Improved ability to utilize real-time data to make active, cost-reducing “decisions in transit,” such as rerouting
Reduction in on-time, in-full (OTIF) penalties
Reduction in detention cost
Higher asset productivity due to reduction in detention and dwell costs
Reduced inventory costs due to reduction in buildup of safety stock requirements
Improved collaboration with trading partners through strategic data sharing
EKA provides a transformational digital freight management, dFEMX, ecosystem platform to manage all the customer’s freight businesses, including freight exchange and third-party services. EKA serves as the system of record across multiple applications and seamlessly ties into other freight solutions (TMS, driver apps, etc.) and third-party services.
EKA Solutions has unveiled the second weapon in its triad of supply chain transportation management system (TMS) offerings with the release of its EKA Omni-TMS for small and medium-sized carriers.
“EKA Omni-TMS for carriers is a native cloud-based SaaS TMS that provides affordable, quote-to-cash, best-in-class, intuitive, easy-to-use functionality to empower small- and medium-sized carriers with the functionality and services to grow and perform as well or better than large fleets,” JJ Singh, founder, investor and CEO of EKA Solutions, Inc, said.
Singh told FreightWaves that the offering is targeted to the “heart of the market,” those long-haul truckload fleets operating between two and 100 trucks that handle movement of 80% of the freight in the country.
“That said, the EKA carrier TMS as currently configured can be used by larger truckload fleets with simple and distributed operations and any size short-haul and last for-hire or private mile fleets,” Singh added.
EKA offers a digital freight management ecosystem, dFEMX, that helps clients manage all of a customer’s freight business including freight exchange and third-party services. It serves as the system of record across multiple applications and seamlessly ties into other freight solutions (TMS, driver apps, etc.) and third-party services, the company said.
“Intuitive precision asset and revenue management tools, real-time availability of all the data and information at the point of decision-making, automated work processes that facilitate exception management, real-time load movement visibility and live ETA will help deliver best-in-class carrier performance,” Mark Walker, investor, president and chief digital officer for EKA solutions, Inc., said.
Under the dFEMX offering, EKA offers the Omni-TMS for brokers, carriers and shippers. Providing real-time information, EKA Omni-TMS enables brokers, carriers and shippers to provide visibility and transparency as they trade across an expanding and verified network with key, trusted partners.
Singh noted the new carrier option “enables a comprehensive end-to-end and intuitive carrier TMS designed to meet the needs of the carrier and every other player in the supply chain.”
Communicating with trusted trading and services’ partners in real-time
Enabling carriers to transform their organizations as the needs and opportunities of the supply chain change
Empowering a carrier to easily adapt to changing business circumstances
Allowing carriers and trading partners to wield their versatility as a competitive strength
Creating a role-based environment, allowing all parties to optimize the use of personnel and resources
Bringing to bear any peripheral services and tech/stack components in an efficient and affordable manner
Giving carriers the power to “tech-up” in a cloud-based, scalable, and secure environment
The solution adds more precise asset/load matching and revenue management tools, real time availability of all the data and information at the point of key decision making, automated work processes that facilitate exception management continue to streamline carrier management work processes.
Singh said the cost of integrating all these tools continues to fall, and carriers are able to start benefiting from this. The EKA Omni-TMS for carriers is highly intuitive, he said, and features pricing “based on dollars per truck per month” that makes it affordable for small fleets. It also enables automated tools to allow the smallest fleet or owner-operator the ability to answer common customer customers such as “where is my order,” in an automated way with real-time order and load movement visibility and live estimated time of arrival.
The solution is scalable so as the carrier grows, so too can the EKA Omni-TMS for carriers.
“Legacy and ‘contemporary technology’ carrier systems have done little to support carriers to compete in the new supply chain world,” Singh said. “Many allow carriers to dispatch loads using traditional tools, post capacity to load boards or some other load sources, and some provide eﬀective operations and financial record keeping for customer billing and payments to speed-up cash flow. Unfortunately, carriers continue to generally rely on phone, e-mail exchanges and disparate APPs that gobble time and do not create the digital record needed to generate the next level of intelligence for high productivity and precision load sourcing for them to compete effectively and grow their business profitably.”
EKA Carrier TMS connects real-time and seamlessly with EKA broker system for the full lifecycle of load activities, including load availability, tendering, negotiation and assignment, real-time load movement visibility and ETA, exception events and notifications, automated document capture and settlement status monitoring, and settlement notification and details.
In addition to the Omni-TMS solution, EKA is building a private marketplace platform, fourth-party logistics provider (4PL) solutions, and solutions for service providers such as insurance companies as part of its ecosystem approach.
In a May interview with FreightWaves, Singh and Walker explained that the platform allows users to add web portals for any vendor, allowing customers to extend capacity and loads, and enabling “digital freighting in a marketplace environment,” Walker said.
EKA is not a brokerage, but digital brokerage is a subset of what they offer broker customers. “We give them a whole gamut of lanes based on relationships, rather than a singular one-touch or touchless lane for doing their business,” explained Singh.
In mid-2019, EKA launched MPlace, a private marketplace for shippers and brokers to trade with “trusted providers in a more precise, automated and real-time manner.”
The company launched its unified, cloud-based Omni-TMS platform for small and medium-sized brokers and shippers in 2018. MPlace allows shippers that need a load hauled in a new freight lane to find partners in its own private space and not have to go out to the spot market or load boards, Singh told FreightWaves at the time.
“Utilizing the EKA MPlace, customers reduce direct labor, transportation spend and contracting risk while providing end-to-end visibility, audit and analysis,” Singh said.
EKA provides a digital freight management (which it calls dFEMX) platform to manage all the customer’s freight businesses, including freight exchange and third-party services. EKA serves as the system of record across multiple applications and seamlessly ties into other freight solutions (TMS, driver apps, etc.) and third-party services.
“EKA Omni-TMS for carriers is a native cloud-based [software-as-a-service] TMS that provides affordable, quote-to-cash, best-in-class, intuitive, easy-to-use functionality to empower small- and medium-size carriers with the functionality and services to grow and perform as well or better than large fleets,” said JJ Singh, Founder, CEO.
The platform features asset and revenue management tools, real-time availability of data and information, automated work processes that allow for exception management, real-time load movement visibility, and live ETA.
According to the company, the platform allows small-to-medium brokers, carriers, and shippers to leverage real- time information and trade fluidly across a verified network with key trusted partners and support vendors.
J.J. Singh, a longtime transportation and logistics executive, decided to launch a digital freight management solutions company a few years ago after he realized that many small and medium-size shippers, brokers and carriers were not ready for “the Amazon world,” a pressure cooker environment that requires an immediate answer to the question: “‘Where is your load?’”
“We knew from the start these folks were at a cost disadvantage and an effectiveness disadvantage,” said Singh, whose previous experience includes stints at C.H. Robinson and Flying J. The reason for starting the new venture, he said “was to respond to the new business environment, help digitize folks and provide them with services so they are at least on par with larger companies that have a lot more resources.”
Founded in 2015, EKA Solutions offers a cloud-based logistics platform designed to facilitate collaboration and data exchange among small and medium-size shippers, trucking companies and brokers.
The Sacramento, California-based company is developing a range of products aimed at helping customers connect and thrive. Among the offerings: a broker, carrier and shipper transportation management system (TMS), a private marketplace platform, 4PL solutions, and solutions for service providers such as insurance companies.
“We are building an ecosystem for freight management,” said Singh, EKA’s chief executive officer.
Several features distinguish the company’s products and services from others in the supply chain technology management sector, the company’s executives said.
EKA’s platform is end-to-end, “from order to cash,” Singh said. A centralized system of record, the platform enables real-time load management, shipment tracking, trade partner negotiations, payment and more.
Customizing offerings for different freight participants, EKA starts with a supply chain engine, then crafts different “lenses” on top of that engine, said Mark Walker, EKA’s president and chief digital officer, explaining there is a tailored TMS for carriers, for shippers and for brokers.
“The nuances of each of those lenses allows each party to run their business,” Walker said, “and it is highly configurable as well, so one company could have a completely different look and feel in a lot of their use of the system.”
A broker TMS launched last fall, and a carrier TMS will be ready on July 1. A shipper TMS is ready to deploy.
The company’s supply chain platform features an intuitive interface and reports can be generated throughout the day in an easy-to-read dashboard style. Because of the “intelligent design,” the cost to deploy is a fraction of what other systems might charge, according to Singh, and the company offers its lowest pricing for the smallest customers, upending the common practice of giving large customers discounts.
“Our whole model is price as you need it,” he said.
Connected to the platform are web portals for any vendors, allowing customers to extend capacity and loads, and enabling “digital freighting in a marketplace environment,” Walker said.
But unlike the large freight-matching services, typically wide open to all carriers and brokers, EKA’s offering is built around “trusted relationships,” the executives said. Customers can extend information to outsiders, but it is not suggested, Walker explained. “We are not trying to open freight up so they can get the lowest price or generate the highest profit.”
EKA is not a brokerage, but digital brokerage is a subset of what they offer broker customers. “We give them a whole gamut of lanes based on relationships, rather than a singular one-touch or touchless lane for doing their business,” explained Singh.
Looking ahead, the startup aims to broaden its ecosystem to include service providers such as insurance companies for brokers and carriers. That will debut in the second half of 2020.
Mirroring the experience of other technology companies, EKA Solutions experienced a tough time for sales in March and April, as the pandemic upended the economy, according to Singh. But the platform “shines” as a work-from-home solution, he emphasized. “All you need is high-speed internet and we take care of the rest. It’s just like running an airbnb platform.”
As the team continues to build out its product suite, “we are very close to delivering to the marketplace our vision of an end-to-end supply chain platform,” Singh said, “where the shipper can run their business end-to-end, the broker can run their business end-to-end and the carrier can run their business end-to-end. And they can all collaborate very effectively.”
Enter your contact details, and we will contact you to arrange a demo.