brokers

RXO’s stock price was pummeled Wednesday after the release of its earnings 

Flexport is expanding the Convoy Platform to brokers, aiming to drive growth and efficiency for brokers and carriers.

Brokers and carriers are still feeling the sting of the ongoing freight recession, and factoring companies can be critical partners during this time.

Brokers know that cash flow is one of the most critical aspects of their companies’ success — or failure. Despite this, the primary focus of popular industry technologies lies in freight delivery, not necessarily extending to proof of delivery or payment collection.

Anthony Sutardja, co-founder and CEO of Parade, told FreightWaves the new capital will go toward AI and RFP tools.

The market is still depressed, but recent layoffs and closures have fueled enough uncertainty to make some players wonder about changing market tides.

For freight agents attempting to navigate today’s volatile market, partnering with the right company can mean the difference between success and failure.

Ditat is planning to roll out its new user interface, which will improve the overall appearance of its TMS, making it more mobile-friendly.

When brokers remember their role as communicators, they are able to build stronger relationships with both their shipper customers and their carrier partners.

By making integrations accessible and affordable, Bitfreighter enables brokers to enter into the once-dreaded “EDI conversation” with shippers on the front end, using connectivity as a selling point.

The recent explosion of freight technologies has benefited companies of all shapes and sizes, but these solutions have had an outsized effect on small and mid-sized operations. 

Current market conditions – combined with the climbing expenses of operating and maintaining a truck – have created a difficult situation for the small companies that keep America moving.

“Our growth and potential were being hindered by manual processes and limited visibility into workflows,” US Cargo Brokers founder Adam Konopko said. “After adopting Ditat’s TMS, US Cargo experienced a complete transformation.”

Surge Transportation’s Omar Singh discusses shippers limiting broker partnerships for arbitrary reasons rather than their specific strengths and weaknesses.

The easy-to-use program allows brokers to reward drivers directly for specific actions they complete within the Trucker Tools app.

Trucker Path bridges the gap between brokers and carriers, connecting over 1,000 brokers with over 1 million app users.

Fourth-quarter 2022 Freight Sentiment Index (FSI) numbers show near-term pessimism for carriers but slight optimism for shippers, 3PLs and carriers in the longer term.

Freight brokers and 3PLs should focus on accommodating carriers’ technology needs in order to improve service levels.

El Servicio Postal llega con algunas décadas de retraso

Brokerages that already have customer contracts allow agents more rate stability

In the upcoming quarter, Trucker Tools will home in on the broker and carrier relationship by introducing a couple of mutually beneficial tools.

Traditional loans or recourse factoring are not the only ways to get carriers paid and build up credit. ComFreight has set out to help brokers grow and solve the problem of contract-heavy, high-stress traditional financing with HaulPay.

TriumphPay improves the payments experience with expedited and secure transactions.

Shippers should reconsider the pecking order of asset-based trucking companies first, brokerages second.

Like many companies across all industries, the COVID-19 pandemic shifted the overall priorities of Varstar.

Parade’s leading software learns from every carrier interaction received to better match brokers with the right carriers.

Working as an independent commissioned agent gives folks a level of control over both their business operations and their day-to-day schedules that is impossible to come by in a more traditional setting.

TriumphPay takes the hassle out of carrier payments, allowing brokers to focus on what they do best.

To learn more visit Tai-Software.com

Mary O’Connell and Thomas Wasson sit down and talk about what freight trends we saw this year, our expectations for the new year, and some of our favorite stories from the planning and brokering days.

Relying on a single data source to predict pricing is risky in the best of times. Right now, brokers and shippers are already facing high — and highly variable — rates. A lack of true insight in the mix only makes the situation more chaotic.

“We strongly believe that expecting random carriers to digitally engage with you and book your freight without having a relationship is a strategy that has just never proven to be effective.”

Picking up the phone before partnering up can help identify ill-suited broker-shipper relationships and avoid costly mistakes.

Brokerage candidates know “they’re in the driver’s seat,” according to one recruiter.

Broker Landstar System blew out analysts’ expectations for the first quarter. The company’s earnings almost doubled from the year-ago quarter, which wasn’t materially impacted by COVID. Landstar’s new guidance calls for more of the same.

TriumphPay is acquiring HubTran to integrate machine-learning capabilities for a fully integrated payments network for its customers.

The truckload market is looking very strong this year and freight brokers are riding high.

When it comes to risk mitigation, due diligence of the carriers you broker to is just as important to having the right insurance policies.

New capital at newtrul will enable expansion of the supplier base to support growing demand, feature enhancements, APIs and TMS integrations.

The right tool can help brokers turn a measly 5% success rate into sales wins at 50% or more.

Learn how freight brokers can protect their domestic operations from liability claims that may not be covered by traditional cargo insurance policies.

FourKites has announced that a record 382 carriers, brokers and 3PLs have been named to its Q4 Premier Carrier List, recognizing the top-performing companies for visibility.

Small and midsize companies – brokers and carriers alike – often wait to adopt new technologies. They are being eclipsed by both larger companies and their less risk-averse peers.

A set of guidelines for the ethical freight broker.

newtrul, a freight aggregation platform, has announced an integration with McLeod Software’s PowerBroker platform.

FreightWaves CEO announces SONAR SCI at FW LIVE @Home. SCI stands for “supply chain intelligence.” Read how SONAR SCI can help your business.

The road to success is paved with digital tools and technological adoption.

Demand is reducing inventories while sales remain strong, leaving no cushion before sales ramp up as they do in November and December.

In today’s edition of The Daily Dash, double-digit rate increases are coming, the FMCSA will listen to complaints about brokers, and which states are the worst for truck drivers in bad weather?

Transflo has acquired Canada-based Microdea on a continued path to grow adoption of digital document workflow.

While OTRI has fallen ~5% off the Labor Day peak, it remains at a remarkably high 25.66%. This indicates that nearly one in four loads is still being rejected at contracted rates across the country.

Shippers ship. Carriers carry. Freight brokers are the experts connecting the two. A developed shipper-broker relationship is important in aiding the success of shippers, brokers and carriers.

The top 20% of freight brokers generate at least 80% of sales and gross margin for any third-party logistics provider (3PL) or freight brokerage.

Transflo and InMotion Global have reached a deal to offer the AscendTMS free for a limited time to Transflo customers.

In today’s edition of The Daily Dash, at least one analyst believes the truckload sector is ready to run. Plus, Amazon drones are set to fly and why Dallas is now the center of the autonomous world.

Cargo Chief has added new functionality for brokers using its C4 platform, allowing them to identify potential load opportunities.

EKA Solutions has expanded its offerings with a new predictive visibility product that taps into ELDs and driver apps for a more accurate look at arrival times.

The coronavirus pandemic caught the world off guard, and it has ratcheted up the pressure on 3PLs and brokers to quickly adapt and employ new technologies.

The current focus on the rate war distracts from the real issue at hand: how to build a profitable trucking business and control your own future.

The rate debate rages on between brokers and truckers, Mayday protests in transportation, Ingrid Brown, and more

Anger mounts among small-business truckers as they protest low rates amid COVID-19 pandemic

Dooner and The Dude are talking about the conflict between truckers and brokers as they battle for dollars in a bottoming spot market.

Knowing exactly where shipments are and when they will arrive is more important now than ever.

Morgan Stanley survey shows coronavirus disruption is accelerating for carriers, shippers and brokers, but the height of the disruption may be closer than some may think.

Knight-Swift Logistics will be part of a pilot program that will test DAT Solutions’ new Book Now automated freight tendering solution.

The recent Stay Metrics Stay Index Report echoed consistent themes among truck drivers: they want to work for companies with a driver-centric culture and get paid fairly for their time and service. Stress related to lack of home time, equipment troubles, and delays were highlighted as top concerns. While the focus of the report wasn’t specifically researching new trucking technology, integrating digital tools into everyday processes can address these concerns.

Lumper payments can tie up cash for weeks as carriers wait for reimbursement, but Convoy is now automating the process, guaranteeing payment with the touch of a button.

We kick off the week with headlines involving major trucking crashes in Pennsylvania and Indiana, the Drug & Alcohol Clearinghouse websites opening day struggles. Don’t worry, though, if you’re trying to register, the site is now up and operational and you can find it by clicking here. We spend Five Good Minutes with Chief Insight […]

If you are planning to create a freight brokerage, here is a basic checklist you can use to get started.

A broker’s main job is to find carriers to move freight for shippers, but the reality is that brokers often spend more time than necessary focusing on cash flow management and getting carriers paid.

The future of freight brokerage is a renewed focus on people.

Noel Perry heads Transport Futures in Harrisburg, Pennsylvania. In addition, he heads Transportation Economics, a consulting company focused on strategy, market research and forecasting for the North American freight transport market. Previously, he was a Corporate Economist at Schneider National, and Director of Market Research at CSX Transportation and Cummins Engine Company. Broker margins are […]

Uber Freight makes it a point to meet drivers and carriers where they are.

SunteckTTS, a top 10 brokerage, is reportedly looking for a 10x EBITDA multiple.

England Logistics has partnered with Trucker Tools to streamline operations and provide real-time visibility to customers, allowing the company to eliminate many broker inefficiencies.

Brokers said there are lingering trouble spots from Road Check week, but markets are already softening.

We’ve got some intra-regional analysis for what’s happening especially in the west, and where some sure bets are.

Today on FreightWaves NOW, we talk to brokers, carriers, shippers, and even look at the maritime outlook from a global perspective. Where are volumes and rates heading Taco Tuesday, June 4?

Today on FreightWaves NOW, we give you quick hitters on volumes, the headhaul index, and a look at the latest consumer spending. Something here for carriers, brokers, and shippers.

In an industry where new technology solutions seem to be emerging on a near daily basis, the way brokers evaluate products and choose partners is changing.

Technology is disrupting the logistics industry at a breakneck pace, and brokerages are not exempt from the changes. While new technologies are intended to help companies run smoother, the implementation process can be riddled with challenges.

Wintrust’s working capital lines of credit leave brokerages with more control than equity raises and have lower cost-of-capital than factoring.

Better talent at a lower cost improves brokers’ cash flows.

Birmingham, Alabama-based McLeod Software has launched its new TopMatch technology, aimed at digitally pairing brokers and logistics providers with the best carriers to haul their freight.

Port container volumes, railroad volumes, and truckload volumes are all down year-over-year.

The feature is intended to save carriers time and money that they would spend searching for and booking loads.

A healthy month-end volume uptick hasn’t tightened capacity, allowing brokers to stay in their happy place.

In partnership with Arrive… high-tech freight brokerages are necessary links in the supply chain, but the key to their growth is how they select and coach their people.

The combined brokerage expects to do $200 million in revenue this year.

Transflo used its slot during the MarketWaves 18 Demo Day to showcase how its app’s new user interface, along with the broader Transflo ecosystem can be used effectively to reduce time during the lifecycle of a load.

It’s that time of year; time to look forward and plan for the year. In order to have a better idea of where the economy and industry are headed, we always like to look back and review from where we came and what happened.

Forager is building a digital freight marketplace to automate elements of cross-border logistics.

Andrew Silver, CEO of MoLo Solutions, looked back at 2018 and talked about the challenges and joys of running a high-growth brokerage, December freight markets, and and MoLo’s plan for 2019.

We spoke to executives from Trident, Avenger, Redwood, and Echo about the challenges and opportunities of the Memphis freight market, long dominated by asset-based carriers.

On today’s episode, George Abernathy, Zack Strickland, and JP Hampstead discuss volume in the marketplace year after year.

On today’s episode, George Abernathy, Zack Strickland, and JP Hampstead discuss volume in the marketplace year after year.

In spite of the prediction challenges everyone faces, what does Doug Waggoner foresee coming down the transportation pipe in 2019?

Founded in 2015, Avenger Logistics is growing so fast that, according to their estimates, they’ll crack Inc. 5000’s 2019 top ten in their first year of eligibility.