Enhancements Drive Revenue Growth With Faster and More Competitive Quoting

CHAPEL HILL, NC--(Marketwire - Feb 26, 2013) - CargoSphere, the leading, cloud-based global rate management solution and rate network for the ocean and air logistics industry, today announced version 4.0 of the CargoSphere Rate Network (CRN). This upgrade delivers a more intuitive, clearly defined and easy-to-use rate networking experience for NVOCC (non-vessel operating common carriers) and freight forwarders (FF) seeking to collaborate with global agent partners.

CRN's 4.0 new Guest Sponsor program significantly simplifies and accelerates collaboration between CargoSphere system users and their agents with a fast, direct rate collaboration process which allows rate sharing in minutes. The CRN is a secure, confidential and client-controlled process in which mutual authorization is always required by two parties before rate collaboration can occur.

Other CRN 4.0 improvements include: new rate networking functionality based on geographical parameters; expanded options for agent partners, and easy-to-use block features which allow users to manage and limit what contract and rate information is available for viewing.

"It is not often that we come across ground-breaking information technology like CargoSphere in our industry," said Reynir Gislason, Executive President/Owner, International Freight Shipping S.A.C. "With CRN 4.0, partners share their service contract rates in a very intuitive way which greatly enhances our joint service scope as well as minimizes our rate management work. This rate sharing ability is providing us with a very strong network of local and global agents." Gislason continued, "Overall, this system has truly transformed our global NVO business. Managing service contracts and client quotations is fast, easy, accurate, and very professional. Additionally, implementation has been a great success for our organization with the help of CargoSphere's webinar training sessions for our staff."

"We are pleased to deliver CRN enhancements that ignite joint rate networking for NVOs and FFs. By expediting this important process, we improve productivity and customer satisfaction for this vital industry sector," said Neil Barni, President, CargoSphere. "We have recognized a significant void in the available technology underlying critical agent relationships. With CRN version 4.0, we are offering a quantum leap from current email and spreadsheet methods to a cloud-based rate collaboration platform. We are also eliminating the 'black-hole' resulting from time zone differences by creating a window to real-time rates. This release vastly accelerates response time for agents who need to quote customers based on a more comprehensive repository of up to the minute rates from authorized partners."

About CargoSphere

Established in 1999, CargoSphere powers the industry's first cloud-based, confidential global rate management solution and Rate Network with over 100 million ocean and air rate connections currently being made worldwide. CargoSphere allows each of its global clients including: logistics intermediaries -- NVOs and freight forwarders, asset based carriers and BCO shippers -- to manage confidential rates and create a private network of trusted parties.

The CargoSphere platform is a pioneering rate technology solution that merges multimodal freight rate management with functionality that enables multiple uses of these rates including: rate quoting, negotiating, sharing, and booking containerized freight across the CargoSphere Rate Network. The Network seamlessly connects global supply chain trading partners allowing them to effectively integrate and simplify rate communication. It reduces the significant complexity and time-consuming task of managing, sharing and distributing freight rates.

CargoSphere synthesizes rate management, rate negotiations (bidding), and quoting into one continuous process. This holistic approach enables the shipping industry to become more efficient, responsive and collaborative than ever before.

To learn more, visit: www.cargosphere.com

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