Four Key Takeaways from Trucker Tools’ Broker Technology Survey
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Trucker Tools recently surveyed broker and logistics providers about which technologies they use in their daily operations and what their biggest tech needs are. We heard from brokers and 3PLs of varying sizes. Forty percent of those who answered the survey book 500 loads or less each month, 30 percent book up to 5,000 loads/month and 20 percent book between 5,001 and 10,000+ loads/month.
1. 70 Percent of Brokers Struggle To Provide Real-Time, Digital Visibility Without Check Calls
We asked our survey-takers how many of their loads are successfully tracked with a digital freight tracking software without check-calls. Sixty percent of responders said they’re able to successfully track 40 percent of their load volume without check calls. Ten percent of those who answered the survey reported being able to track 51 to 70 percent of their loads digitally without check calls. Most shippers require that you meet a 70 percent visibility compliance threshold in order to broker their freight. If you’re relying on check calls to provide shippers with freight tracking information, it takes time to call the dispatcher or driver, get the location update and then relay that information to the shipper.
Brokers and 3PLs who use Trucker Tools’ platform are able to reduce or eliminate check calls, while meeting or surpassing customers’ visibility requirements.
With Trucker Tools’ real-time freight tracking platform and free driver app, you automatically get real-time location updates every five minutes without ever picking up the phone. Brokers and 3PLs who use Trucker Tools’ platform are able to reduce or eliminate check calls, while meeting or surpassing customers’ visibility requirements. Trucker Tools’ visibility software also integrates with shipper visibility platforms MacroPoint, FourKites, 10/4 and Project44, which gives you the power to instantly share freight tracking data with your customers.
2. 70 Percent Use Manual Methods To Find Truck Capacity
We also asked our survey-responders about the tools they use to find truck capacity. Forty percent said they use email to contact carriers/owner operators, while 20 percent said they rely on load boards for finding capacity. Ten percent of those who answered reported that they call carriers to find trucks to cover loads. In the survey, we also asked how quickly a load is booked once it’s posted in the TMS. Forty percent told us that it takes one to two plus hours to secure capacity after a load is posted to their TMS.
When truck capacity is extremely tight and demand for trucks is higher than normal like it is now, it’s important to be able to search for, find and secure capacity quickly. You can do all of the above quickly with Trucker Tools’ digital freight matching platform, whether you’re a small freight broker or large logistics provider. Trucker Tools’ digital freight matching platform shows you specific types of available capacity in specific lanes. You can search the platform and view both in-network and out-of-network capacity in seconds, which is much faster than load boards, phone calls and emails. Predictive load matching allows you to see where trucks will be in the future, which gives you an advantage over the competition.
Predictive load matching allows you to see where trucks will be in the future, which gives you an advantage over the competition.
3. 70 Percent of Brokers, 3PLs Find It Difficult To Book Reloads
Adding a new carrier to your system takes time. Re-using high-performing owner operators and carriers can reduce your operating costs — and increase the number of loads you can handle. However, 70 percent of the brokers/3PLs who answered our survey said it’s difficult to book reloads with their current systems and 80 percent said they only cover one to six loads/month/carrier. Eighty percent also told us that they’re onboarding up to 500 new carriers each month.
With Trucker Tools’ digital freight matching platform, it’s easy to book backhauls and repeat loads with an owner operator or carrier dispatcher. When you’re speaking with a driver or dispatcher about a load, you can immediately see what reload and backhaul opportunities are available in Trucker Tools’ digital freight matching platform. You can encourage drivers and carriers to book reloads and repeat loads with your company by posting your loads as Book-It-Now® loads. Book-It-Now® gives your preferred owner operators and carriers the ability to book loads with your company through the Trucker Tools driver app or carrier platform. Book-It-Now® automates the load booking process for you and carriers. It also provides owner operators and carriers with anytime access to view and book your loads, a convenience that they greatly appreciate.
4. The Importance of Knowing Your Cost Per Load
Only 10 percent of those who responded to our broker tech survey were able to share what their cost per load is, while forty percent said they don’t calculate what it costs their business to move a load. Calculating your cost per load is important because it gives you insight into how efficiently you’re running your business. Knowing more about the efficiency of your business helps you understand your profit margins and identify areas of your operation that may be negatively impacting your revenue.
If you reduce your check calls by 50 percent with Trucker Tools’ visibility platform and/or cover loads 30 percent faster with Trucker Tools’ digital freight matching and Book-It-Now®, you reduce the time and human resources required for the load, which lowers your cost.
Digital tools such as Trucker Tools’ real-time freight tracking software, digital freight matching platform and Book-It-Now® all can reduce your cost per load. If you reduce your check calls by 50 percent with Trucker Tools’ visibility platform and/or cover loads 30 percent faster with Trucker Tools’ digital freight matching and Book-It-Now®, you reduce the time and human resources required for the load, which lowers your cost. Using these technologies to make your business run more efficiently also frees up your employees’ time and gives them more opportunities to move more freight, develop new carrier relationships and provide higher levels of service to shippers.
