What is digital freight matching, and how does it benefit my business? These are some questions most shippers, brokers, and carriers ask themselves before implementing modern technologies onto their operations. It is becoming more common for companies within the industry to incorporate technology into their workflows since there is an increasing need for a quick and efficient transportation and delivery process.
To meet the needs of demanding consumers, who are now used to same-day, next-day, or two-day delivery, shippers, brokers, and carriers need to find ways to connect fast for on-time delivery. Understanding this sense of urgency and implementing the right strategies to deliver is one of the most effective ways companies will stand out from the competition.
Why is digital freight matching increasing in popularity?
Shippers are currently facing many challenges like capacity crunch, truck driver shortage, and freight costs. With all these obstacles in place, companies must find suitable alternatives to overcome them and deliver the best services to the consumers.
Here’s where digital freight matching becomes the best alternative for shippers since it will allow them to find the best carriers to transport their freight. With digital freight management, companies can depend on other independent carriers, not just the ones contracted with.
Many other alternatives have increased in popularity during the past few years. They are all created to improve efficiency and a faster overall process. One of them is pre-loaded trailers. These pre-loaded trailers help companies avoid spending time on loading the trailer, working as a drop-and-hook service, where the truck arrives at the pick-up location and simply hitcher their vehicle to the previously loaded trailer.
What is digital freight matching?
Before discussing the importance and the benefits of digital freight matching, it’s essential to understand what it actually means.
Digital freight matching is the concept of an easy and effective method to fulfill your shipping needs through a digital platform. It has become an efficient alternative since the carrier, in theory, can tap to select a load with an attractive rate and then transport it to its destination. It’s the new way to match the shipper and its freight to the carrier and its trucks.
How does digital freight matching work?
Now that we understand the concept, it’s crucial to know how it works. Creating a streamlined and efficient transportation process requires having access to all the information and details for the carriers to understand what shippers need to transport.
What information does the platform require?
Having these details clearly defined will allow carriers to select the loads and rates they find more attractive. Information is also vital for these platforms since it provides the required input for the system to understand your preferred routes. Advanced freight matching platforms use AI and machine learning to optimize the process.
The extra mile
Nowadays, it is not enough to have the platform in place to match freight; it must become a complete experience for the user, where the platform can handle essential elements of the process like invoices, Bill of Lading, contracts, and display other relevant information.
Benefits of digital freight matching
Some of the major benefits of incorporating a digital freight matching platform are:
Help match shippers with independent carriers
Easy negotiation process
Integrates with company TMS
No need for phone calls or manual processes
A space to manage documentation
Integration to company TMS
Working with a digital freight matching system has many more benefits, which makes this type of software a fantastic alternative for companies. In fact, in a research study on supply chain automation conducted by Coyote, 71% of shippers preferred a combination of digital and people when booking their loads.
Most companies are now expecting to access a more digitalized process, reducing time and inefficiencies.
Implementing a digital freight matching system for your company is a strategy that will allow your business to be more efficient, gain access to a broader carrier network, and meet the needs of demanding consumer markets. It’s essential to combine technology with your employee’s experience to deliver the best experience for your users and develop a continuous and robust work relationship.