Veraction Acquires Leading Freight Audit Provider National Traffic Consultants
Acquisition Expands Customer Base and Accelerates Transportation Spend Management Solution Growth
Veraction, the leading provider of Transportation Spend Management and Freight Audit services and technology announced today that it has acquired National Traffic Consultants, Inc., a leading freight audit and bill payment provider. With this acquisition, Veraction continues to drive the company’s commitment to accelerated growth as well as deliver its leading transportation spend management and spend intelligence solutions to National Traffic’s global customer base. Terms of the transaction were not disclosed.
For over four decades, National Traffic Consultants (NTC) has been providing freight pre-audit, payment and data management solutions to some of the world’s largest companies such as Epson, Toshiba and Mazda. As a leader in the freight audit industry, NTC delivers savings and control of transportation spending for their customers.
“We are excited to be joining forces with NTC and continuing to drive our plan for rapid growth,” said Veraction CEO Chris Connell. “NTC is a great company with a great history and team as well as an amazing set of customers. Over the last two years, we have made significant investments in our capabilities in order to drive increased value for our customers and look forward to teaming with NTC to deliver these same transportation spend management solutions to their customers as well. NTC customers will soon be finding increased advantage and all of us are committed to delivering for them immediately.”
As a leader in transportation spend management, Veraction manages approximately $6 billion in global transportation spending for nearly 300 customers across all modes of transportation. Leveraging a best in class web based technology platform, Veraction helps its customers manage and control their transportation spending more effectively through a combination of freight audit and spend analytics solutions.
Dan Quagliaroli, CEO of NTC, said, “We are thrilled to be joining Veraction and positioning ourselves to better serve our current customers by leveraging Veraction’s capabilities, global presence and scale. Veraction represents the next generation of freight audit and transportation spend management and we are glad to contribute to the change they are driving in the industry. We are especially excited about taking advantage of Veraction’s industry leading SasS based transportation spend intelligence solutions which will provide deeper visibility into transportation spending for our customers across all of their transportation modes. Both our team and our customers are looking forward to the significant benefits we’ll soon be delivering.”
About National Traffic Consultants
National Traffic Consultant’s (NTC) freight payment services provides a comprehensive solution set to help customers reduce costs and control transportation expenses. NTC performs audits of EDI and paper invoices from all carriers including motor carriers, parcel carriers, air and ocean freight carriers, freight forwarders, couriers, rail, broker, drayage as well as international freight and fees. NTC is headquartered in Los Angeles.
Veraction is the leader in Transportation Spend Management solutions. Veraction combines industry leading cloud based applications with best in class services to help companies realize savings, visibility and control of their transportation spend across all transportation modes. With nearly 300 customers, a global footprint and range of solutions spanning freight and parcel audit, bill payment, financial allocation services, spend analytics, visibility and expert consulting, Veraction enables companies to manage their critical and significant transportation spend more effectively. Veraction is headquartered in Memphis, TN with US offices in Austin, TX and Saint Simons Island, GA as well as global offices in Amsterdam, Manila and Shenzhen.