KeepTruckin has announced plans to launch one of the first load-matching platform that uses data collected from its electronic logging devices, or ELDs, to help match small-business carriers with available freight.
The company’s new Smart Load Board, which will be available in late 2019, will use carriers’ hours-of-service data, including lane preference, current location and available hours, to create a “better load-matching” system, said Shoaib Makani, co-founder and chief executive of KeepTruckin.
“There are incumbent load board providers, but we are looking to partner with existing providers in the industry to deliver the best experience to our carriers,” Makani told FreightWaves.
“Using this data means that carriers don’t have to hunt for loads and this tool will make their time more productive,” Makani said. “They only get paid when they are driving, so this will help minimize deadheading and get them to where they want to go next.”
The new platform will utilize its current ELD customer base of more than 200,000 trucks and 50,000 carriers. Brokers and trucking companies looking for trucks can post to the KeepTruckin Smart Load Board and will be matched with available carriers.
A number of ELD providers have been discussing building a load-matching marketplace using ELD data, but Makani said KeepTruckin is “uniquely positioned” to bring it to the marketplace because of its vast network of brokers and large carriers who need additional trucks to haul their freight.
“There is a long list of (ELD) providers out there, but the challenge is do they have the scale to deliver,” he said. “No individual vendor, aside from us, has enough trucks that can deliver a really differentiated load-matching experience.”
The company is currently conducting limited testing now after acquiring a small South-Carolina-based freight brokerage, One Point Logistics. Once launched, all freight brokers will have access to the new load board, Makani said.
Carriers who do not want to participate in Keep Truckin’s Smart Load Board will be able to opt out.
“Privacy is important to us because none of this (HOS) data will be shared with any third-parties or brokers unless the carrier consents,” Makani said.