Supply chain visibility software provider FourKites has acquired Haven, Inc. and announced the introduction of Dynamic Ocean solution to improve supply chain transparency.
Shipping provider Haven will build on the technologies of FourKites’s Dynamic Ocean solution to improve end-to-end management for international ocean shipments.
Dynamic Ocean integrates advanced document management capabilities, collaboration features, and support for bookings, with end-to-end real-time tracking.
Benefits of Dynamic Ocean include expedited flow of goods through busy ports, significantly reducing detention and demurrage costs, and improved customer satisfaction.
Dynamic Ocean covers 99% of global container traffic and more than 750 ports, providing visibility into ocean shipments.
Comprehensive APIs enable data sharing between Dynamic Ocean and other critical shipper systems including TMS and ERP platforms.
Brad Klaus, CEO at Haven, said, “Haven is thrilled to bring our team and expertise in SaaS, supply chain and ocean tracking to FourKites, a company that pioneered real-time freight visibility and that shares our vision for more automated, collaborative supply chains.”
In a recent Haven survey of 160 senior ocean supply chain leaders, 60% cited their need for better document management, and more than 40% said they intend to upgrade their systems by investing in the further digitalisation of their international processes.
Mathew Elenjickal, founder and CEO of FourKites, added, “Ocean shipping is extremely complex, with at least six different parties touching a single container, and cumbersome documentation workflows that can account for upwards of 70% of detention and demurrage.
“Together with Haven, we are proud to introduce new end-to-end ocean capabilities that have been sorely lacking in the industry, and that are now mission-critical to effective management of ocean shipments.”