Technology is changing how the transportation industry works, and large broker fees are quickly becoming a thing of the past. Digital brokers and private equity firms have entered the space over the last few years, pressuring traditional brokers to lower their costs. This, in turn, has forced brokers to find ways to reduce the overall cost of covering a load.
That is where predictive digital freight matching comes into play.
“Predictive matching drives value. Everyone wants to know where the truck is going to be even before it becomes available,” Trucker Tools CEO Prasad Gollapalli said. “That’s the opportunity. If a broker knows where the truck is available 48 hours from now, he can go to his shippers and get that freight matched with the truck in advance.”
Brokers that want to succeed in the logistics space must stay ahead of the curve even in the best of times. In the midst of global market disruption, that becomes an even more important part of staying in business.
“We have been fortunate that, while we saw volumes drop as the market shifted, we had tools like this from Trucker Tools,” Kingsgate Senior Vice President of Strategy & Innovation Tom Curee said. “We had food clients who saw a spike and retail clients trying to get products off their dock before orders got cancelled. Digital freight matching helped our team deal with this flux without having to go out and hire more staff.”
Trucker Tools’ Smart Capacity digital freight matching tool replaces old load boards and provides brokers with predictive freight matching, while the company’s Book it Now® feature streamlines the booking process in order to drive efficiency and free up brokers’ time.
“If you are a broker living solely off the hustle, that is a difficult spot to be in because the value proposition is much lower than a company that can adequately handle its capacity or an influx of volume well because it has built an infrastructure of technology to handle it,” Curee said.
A win-win situation
The benefits of predictive digital freight matching are not limited to brokers. Predictive matching also gives drivers more insight into the next move or moves and allows carriers to plan their routes in the most efficient way possible.
“Here’s an example: I’m in Atlanta, and I have a choice of taking a load to Dallas or Chicago. With predictive freight matching, I can fast forward ahead and see where more loads are available in the next couple of days. If it’s Chicago, I’ll take the load to Chicago because I have more opportunity there to pick up my next load, so that better fits my needs.”
Being able to plan a couple steps ahead is especially valuable for small carriers and owner-operators who don’t always have the newest tools and may be operating on a shoestring budget.
At the end of the day, predictive freight matching gives both brokers and drivers a chance to take control of their next steps and choose a better future for themselves and their companies.