Maximizing Efficiency and Security

The Value of End-to-End Freight Execution Software for Freight Brokers.

By Banyan Technology

Investing in end-to-end enterprise freight execution software represents a pivotal decision for freight brokers, one that can dramatically reshape the landscape of their operations, client satisfaction and bottom line. This comprehensive approach to managing freight operations not only streamlines the brokerage process but also provides a competitive edge in an industry where efficiency, reliability and speed are paramount.

The Need for End-to-End Solutions in Freight Brokerage

The freight brokerage industry is the vital link between shippers needing to transport goods and carriers willing to haul those goods. However, the process of matching shipments with the right carriers, ensuring compliance, tracking shipments and managing payments can be complex and time-consuming when done manually or with disjointed systems. An end-to-end enterprise freight execution software simplifies these tasks by providing a single, integrated platform for all freight brokerage operations.

Streamlined Operations and Increased Efficiency

One of the most significant advantages of utilizing end-to-end software is the streamlining of operations. By automating routine tasks such as carrier selection, shipment tracking and invoice processing, brokers can save a considerable amount of time and reduce the risk of human error. This efficiency gain not only boosts productivity but also allows brokers to focus on more strategic tasks, such as building relationships with clients and carriers and exploring new market opportunities.

Enhanced Visibility and Control

End-to-end freight execution software offers unparalleled visibility into the entire shipping process. Brokers can track shipments in real-time, anticipate and address potential issues before they escalate and provide clients with timely updates. This level of oversight and control enhances the service quality provided to shippers and carriers, leading to increased satisfaction and loyalty.

Mitigating Fraud in Logistics

End-to-end enterprise freight execution software plays a pivotal role in mitigating fraud within the logistics and freight brokerage industry, a sector where the complexity of transactions and the involvement of multiple parties create fertile ground for fraudulent activities such as identity theft, invoice fraud and double brokering. The software enhances security through rigorous verification processes for carriers and shippers, integrating with databases and systems to confirm the legitimacy of all parties involved. Secure transaction and documentation management, with features like digital signatures and encryption, ensures the integrity of vital documents, reducing the risk of tampering and fraud. Additionally, the software’s advanced analytics and machine learning capabilities are instrumental in detecting anomalies and patterns indicative of fraudulent activity, with automated alerts enabling prompt investigation and resolution.

Data-Driven Decision Making

The analytics capabilities of comprehensive freight software are a game-changer for brokers. By collecting and analyzing data on carrier performance, shipping trends and customer preferences, brokers can make informed decisions that improve service quality and operational efficiency. This data-driven approach can also identify new business opportunities and areas for cost reduction.

Improved Compliance and Risk Management

Compliance with industry regulations and standards is a critical concern for freight brokers. End-to-end software helps ensure compliance by automating the documentation process and maintaining a digital record of all transactions. This not only simplifies audits but also reduces the risk of fines and legal issues. Moreover, the software can help manage risk by assessing carrier qualifications and monitoring carrier performance, ensuring that only reliable carriers are used. It also can facilitate the tracking of carbon emissions for each shipment, aiding brokers and their customers in meeting environmental regulations and sustainability goals.

Scalability and Flexibility

As a freight brokerage grows, its operational needs become more complex. End-to-end software is designed to scale with the business, accommodating increased volumes of shipments and transactions without a drop in performance. Additionally, the best software solutions offer flexibility to adapt to the unique needs of the brokerage, whether through customizable workflows, integration with other business systems or the addition of new features and capabilities.

Enhanced Collaboration and Communication

Effective communication is vital in the freight brokerage industry, involving multiple stakeholders, including shippers, carriers, and logistics partners. End-to-end software facilitates seamless communication and collaboration through features such as shared dashboards, messaging platforms and document sharing. This ensures that all parties are on the same page and can respond quickly to any changes or challenges.

Cost Savings and ROI

While the upfront cost of implementing end-to-end enterprise freight execution software may be significant, the long-term savings and return on investment are substantial. Automation and improved efficiency reduce operational costs, while enhanced service quality can lead to increased business and revenue. Additionally, the ability to make data-driven decisions and identify cost-saving opportunities further improves the financial performance of the brokerage.

For freight brokers, investing in end-to-end enterprise freight execution software is not just a technological upgrade but a strategic business decision that can lead to unparalleled operational efficiency, enhanced service quality, and significant growth. The benefits of streamlined operations, increased visibility, data-driven decision-making, improved compliance, scalability, enhanced collaboration and cost savings make it an investment worth considering. In the fast-paced world of freight brokerage, the right software solution can be the key to staying ahead of the competition and achieving long-term success.

About Banyan Technology

Banyan Technology, the leading provider of over-the-road (OTR) shipping software, delivers enterprise-level, end-to-end freight execution solutions. Our patented LIVE Connect® platform serves as your primary transportation management system (TMS) or API connectivity that supports your existing systems. Banyan’s solution provides a comprehensive suite of AI and BI tools that help automate manual shipping processes and identify cost-saving opportunities through multi-mode rate comparison. To learn more, visit www.banyantechnology.com or connect with us on LinkedInFacebook, and Twitter.

 

Elevate Your Freight Business with a CRM Solution

In the bustling world of freight, where precision and efficiency are paramount, having the right tools at your disposal can mean the difference between success and stagnation. When it comes to managing customer relationships and optimizing operations, SalesDrip.com emerges as the unrivaled choice for freight businesses. This isn’t just another CRM system; it’s the ultimate freight CRM solution that’s tailored to the unique demands of the industry and will explore why SalesDrip.com stands head and shoulders above the competition.

1. Custom Drip Content for Your Team:
Imagine having a CRM system that not only understands your industry but also crafts custom content for your team’s interactions. With SalesDrip.com, this becomes a reality. We understand that in the freight industry, communication is key, and that’s why we offer the ability to create personalized drip content for your team. From informative emails to engaging follow-ups, SalesDrip.com ensures that every interaction is on point, every time.

2. Seamless Integration with Your Workflow:
Seamless integration with your existing workflow by connecting with your email, calendar, and website. No need to switch between platforms or juggle multiple tools. Effortlessly manage your customer interactions, appointments, and communications within a unified interface. This integration not only saves time but also ensures that nothing falls through the cracks.

3. Custom Websites, Landing Pages, and Web Forms:
Your online presence matters. SalesDrip.com goes beyond CRM functionalities by offering the ability to build and host custom websites, landing pages, and web forms. Whether you need an impressive website to showcase your services or specialized forms to capture client information, this CRM has you covered.

4. Turnkey Drip Automation:
Take the complexity out of automation. A turnkey drip automation feature allows your sales reps to choose the type of follow-up they prefer on a contact-by-contact basis.  Empower your team to tailor their interactions for maximum impact through personalized email, call reminders and scheduled follow-up.

5. AI-Powered Lead Alerts:
Missing out on hot leads can be costly. We employ AI to send sales reps timely hot and cold lead alerts based on a contact’s activities. Never miss an opportunity again and ensure your team is always in the know.

6. Drip Automation & Campaigns:
Power lies in its ability to automate and execute various drip campaigns effectively. New customer drip automation welcomes new clients with a series of well-timed communications, nurturing their trust from the start. Existing customer drip automation keeps your current clients engaged, informed, and loyal. Qualified lead drip automation ensures your sales team is nurturing promising leads, maximizing conversion rates. Even for lost customers, the platform provides a chance to rekindle relationships through drip campaigns.

This CRM is your strategic partner in fostering enduring customer relationships, boosting sales, and expanding your freight business. With features that resonate specifically with the needs of the industry and delivers results where generic CRM systems fall short.

Don’t settle for a one-size-fits-all solution. Elevate your freight business with dedication to customization, seamless integration, AI-powered alerts, and targeted drip campaigns that will propel your business forward. Your journey to enhanced customer engagement and higher profitability begins at www.SalesDrip.com. Embrace the future of freight CRM today.

Article by: Tom Acklam, President SalesDrip.com

How A Centralized TMS Can Make The Difference For Freight Brokers

When it comes to running a profitable freight brokerage, the difference between thriving and merely surviving often comes down to one key factor: Efficiency. In an industry with complex logistics and constantly evolving regulations, a Transportation Management System can be the game-changing tool you need to take your business to the next level. But the key factor that many overlook is how you utilize your TMS. Simply having a TMS is no longer enough. 

A Brief Introduction To Transportation Management Systems 

Beyond mere functions, the importance of a TMS lies in its capacity to revolutionize the entire shipping lifecycle and streamline administrative processes. It enables immediate and accurate calculation of shipping rates, facilitates real-time visibility of shipments, and aids in optimizing routes and consolidating freight. 

These advantages contribute directly to minimizing costs and boosting service reliability. The right TMS also seamlessly handles document management and automates invoicing, thereby ensuring regulatory compliance, reducing manual errors, and accelerating financial operations.

If you want to maximize your investment, focus on finding a TMS that is capable to operate as the core system in your technology suite. By funneling your other tools and systems through your TMS, you unlock exponentially more ROI. 

Benefits 

Enhancing Efficiency and Accuracy 

The digital nature of a TMS allows for the automation of repetitive tasks and paperwork that might otherwise consume a significant portion of your workday. Processes such as dispatching, carrier selection, route planning, and invoicing can all be automated, freeing up your time to focus on expanding your business and servicing your clients. 

Moreover, a TMS can improve accuracy by eliminating manual entry and thereby reducing the risk of human errors. This can lead to faster, more reliable service – a key factor in building trust with your customers.

By running these tasks through your TMS, not only do the automations add significant value, but you reduce the need to spend time in other systems, making you more efficient as well. 

Real-Time Visibility and Control 

Transparency and control are critical in the freight brokerage business. A TMS gives you real-time visibility into every step of the shipping process, from pickup to delivery. You’ll be able to track shipments, manage carriers, and even anticipate and mitigate potential issues before they occur. This kind of visibility can be a significant selling point for your clients, who appreciate being kept in the loop about their shipments. 

Taking visibility, a step further, by centralizing your TMS, you’ll no longer need to hunt from system to system looking for the critical, time-sensitive data you need to make informed decisions. Pulling everything to your TMS means you have a better view, sooner. 

Streamlined Communication 

Effective communication with carriers and clients is vital to running a successful freight brokerage. A TMS centralizes all communications, making it easier to coordinate with carriers and update clients on shipment status. Moreover, a TMS can automate certain communications like sending out load confirmations and rate confirmations, saving you even more time. 

Data-Driven Decisions 

A TMS can provide valuable analytics and reporting capabilities, allowing you to make informed, data-driven decisions. This includes carrier performance, cost analysis, route optimization, and more. Having this data at your fingertips can help you identify trends, spot opportunities, and make strategic decisions that enhance profitability.  

Strategic Carrier Selection and Route Optimization 

Gain valuable insights for choosing the most suitable carriers based on transit times, service types, and liability ranges.  A TMS can identify the best carrier and route swiftly, considering various factors such as distance, traffic, load sizes, carrier’s service speed, and liability coverage. This informed selection results in faster, more reliable delivery, and significant cost savings. 

Further, a TMS excels in formulating multimodal transportation plans, integrating various types of carriers and transport modes to devise the most efficient, cost-effective strategy. This not only promotes financial viability but also underscores your company’s commitment to sustainability, fostering an operation that is both profitable and environmentally conscious.  

Improved Customer Service 

The customer is king, and a TMS provides multiple avenues for improving customer satisfaction. With real-time tracking and updates, customers are always informed about the status of their shipments. This transparency builds trust and improves the overall customer experience. 

In addition, there is capacity opened for the team that can allow for the opportunity to prioritize customer issues. By building your processes around your TMS as the primary source of truth, you’ll unlock an automated inbox. Instead of having to deal with all the minor complaints that may come flooding in, your representatives can focus on the biggest issues at play to improve overall customer satisfaction. The data collected by a TMS can even help you identify areas of improvement. 

Automated Invoicing and Payments 

One of the most important actions that brokers need to do is manage invoices and payments. This can be a complex and time-consuming task when done manually, but a TMS can automate this process, ensuring timely and accurate invoicing. This not only improves cash flow but also reduces the potential for errors that can lead to disputes and strained relationships with carriers or clients. 

A TMS can also streamline the payment process. For instance, it can automatically schedule payments to carriers based on agreed terms, or instantly process client payments upon delivery. This automation reduces the administrative burden and allows you to focus more on your core business operations. 

Scalability and Flexibility 

Perhaps one of the most compelling advantages of a TMS is its scalability and flexibility. As your business grows, so do the complexities of managing more shipments, more carriers, and more clients. A TMS can easily scale with your business, accommodating more volume and more complexity without missing a beat. 

At the same time, a TMS offers the flexibility to adapt to changing business needs or market conditions. Whether you need to onboard new carriers, comply with new regulations, or expand into new geographies, a TMS can adapt quickly and efficiently. 

Choosing The Right TMS: A Strategic Decision For Your Freight Brokerage Success 

While there are numerous TMS solutions in the market, it’s crucial to choose one that aligns with your business needs. Look for a system that is easy to use, integrates with your existing technology, and offers robust support and continuous updates. A good TMS is more than just software; it’s a strategic partner that can help you drive your freight brokerage business forward. It provides the foundation for efficient, customer-focused, and profitable freight brokerage operations – today, tomorrow, and well into the future. 

For more tips and tricks, Step into the future of freight brokerage with Tai’s new Whitepaper, featuring proven strategies for surviving and thriving even in a down market. Uncover invaluable insights and substantial techniques to strengthen partnerships and navigate market fluctuations. Access the White Paper now and level up your business by cultivating an unbreakable broker-carrier relationship. 

DOWNLOAD WHITEPAPER 

 

How A Centralized TMS Can Make The Difference For Freight Brokers

When it comes to running a profitable freight brokerage, the difference between thriving and merely surviving often comes down to one key factor: Efficiency. In an industry with complex logistics and constantly evolving regulations, a Transportation Management System can be the game-changing tool you need to take your business to the next level. But the key factor that many overlook is how you utilize your TMS. Simply having a TMS is no longer enough.

A Brief Introduction To Transportation Management Systems

Beyond mere functions, the importance of a TMS lies in its capacity to revolutionize the entire shipping lifecycle and streamline administrative processes. It enables immediate and accurate calculation of shipping rates, facilitates real-time visibility of shipments, and aids in optimizing routes and consolidating freight.

These advantages contribute directly to minimizing costs and boosting service reliability. The right TMS also seamlessly handles document management and automates invoicing, thereby ensuring regulatory compliance, reducing manual errors, and accelerating financial operations.

If you want to maximize your investment, focus on finding a TMS that is capable to operate as the core system in your technology suite. By funneling your other tools and systems through your TMS, you unlock exponentially more ROI.

Benefits

Enhancing Efficiency and Accuracy

The digital nature of a TMS allows for the automation of repetitive tasks and paperwork that might otherwise consume a significant portion of your workday. Processes such as dispatching, carrier selection, route planning, and invoicing can all be automated, freeing up your time to focus on expanding your business and servicing your clients.

Moreover, a TMS can improve accuracy by eliminating manual entry and thereby reducing the risk of human errors. This can lead to faster, more reliable service – a key factor in building trust with your customers.

By running these tasks through your TMS, not only do the automations add significant value, but you reduce the need to spend time in other systems, making you more efficient as well.

Real-Time Visibility and Control

Transparency and control are critical in the freight brokerage business. A TMS gives you real-time visibility into every step of the shipping process, from pickup to delivery. You’ll be able to track shipments, manage carriers, and even anticipate and mitigate potential issues before they occur. This kind of visibility can be a significant selling point for your clients, who appreciate being kept in the loop about their shipments.

Taking visibility a step further, by centralizing your TMS, you’ll no longer need to hunt from system to system looking for the critical, time-sensitive data you need to make informed decisions. Pulling everything to your TMS means you have a better view, sooner.

Streamlined Communication

Effective communication with carriers and clients is vital to running a successful freight brokerage. A TMS centralizes all communications, making it easier to coordinate with carriers and update clients on shipment status. Moreover, a TMS can automate certain communications like sending out load confirmations and rate confirmations, saving you even more time.

Data-Driven Decisions

A TMS can provide valuable analytics and reporting capabilities, allowing you to make informed, data-driven decisions. This includes carrier performance, cost analysis, route optimization, and more. Having this data at your fingertips can help you identify trends, spot opportunities, and make strategic decisions that enhance profitability. 

Strategic Carrier Selection and Route Optimization

Gain valuable insights for choosing the most suitable carriers based on transit times, service types, and liability ranges.  A TMS can identify the best carrier and route swiftly, considering various factors such as distance, traffic, load sizes, carrier’s service speed, and liability coverage. This informed selection results in faster, more reliable delivery, and significant cost savings.

Further, a TMS excels in formulating multimodal transportation plans, integrating various types of carriers and transport modes to devise the most efficient, cost-effective strategy. This not only promotes financial viability but also underscores your company’s commitment to sustainability, fostering an operation that is both profitable and environmentally conscious. 

Improved Customer Service

The customer is king, and a TMS provides multiple avenues for improving customer satisfaction. With real-time tracking and updates, customers are always informed about the status of their shipments. This transparency builds trust and improves the overall customer experience.

In addition, there is capacity opened for the team that can allow for the opportunity to prioritize customer issues. By building your processes around your TMS as the primary source of truth, you’ll unlock an automated inbox. Instead of having to deal with all the minor complaints that may come flooding in, your representatives can focus on the biggest issues at play to improve overall customer satisfaction. The data collected by a TMS can even help you identify areas of improvement.

Automated Invoicing and Payments

One of the most important actions that brokers need to do is manage invoices and payments. This can be a complex and time-consuming task when done manually, but a TMS can automate this process, ensuring timely and accurate invoicing. This not only improves cash flow but also reduces the potential for errors that can lead to disputes and strained relationships with carriers or clients.

A TMS can also streamline the payment process. For instance, it can automatically schedule payments to carriers based on agreed terms, or instantly process client payments upon delivery. This automation reduces the administrative burden and allows you to focus more on your core business operations.

Scalability and Flexibility

Perhaps one of the most compelling advantages of a TMS is its scalability and flexibility. As your business grows, so do the complexities of managing more shipments, more carriers, and more clients. A TMS can easily scale with your business, accommodating more volume and more complexity without missing a beat.

At the same time, a TMS offers the flexibility to adapt to changing business needs or market conditions. Whether you need to onboard new carriers, comply with new regulations, or expand into new geographies, a TMS can adapt quickly and efficiently.

Choosing The Right TMS: A Strategic Decision For Your Freight Brokerage Success

While there are numerous TMS solutions in the market, it’s crucial to choose one that aligns with your business needs. Look for a system that is easy to use, integrates with your existing technology, and offers robust support and continuous updates. A good TMS is more than just software; it’s a strategic partner that can help you drive your freight brokerage business forward. It provides the foundation for efficient, customer-focused, and profitable freight brokerage operations – today, tomorrow, and well into the future.

For more tips and tricks, Step into the future of freight brokerage with Tai’s new Whitepaper, featuring proven strategies for surviving and thriving even in a down market. Uncover invaluable insights and substantial techniques to strengthen partnerships and navigate market fluctuations. Access the White Paper now and level up your business by cultivating an unbreakable broker-carrier relationship.

DOWNLOAD WHITEPAPER

Unbreakable Bonds: Leveraging Tai TMS For Logistics Success

The art of forming strategic alliances and nurturing partnerships has become fundamental for brokers as it’s especially needed in the face of challenges. Enter the modern Transportation Management System (TMS), a revolutionary tool empowering businesses to forge unbreakable connections with carriers and shippers.

Selecting the right technology partner as the beating heart of any broker operation opens a world of possibilities, encouraging collaboration and paving the way for success in even the most adverse circumstances. Every broker has a TMS, but to put your TMS at the core of your business opens the door to much greater value, new partnership opportunities and profitability by creating a path towards automated and timely business.

The Path To Seamless Communication

Visualize a partnership that breaks barriers and focuses on unified growth while also reducing manual effort. That is precisely what the right TMS should enable – the driving force behind model communication and unbreakable bonds among partners. Harness the potential of a TMS to create an environment where you no longer have to jump between platforms and unity between you and your partners reigns supreme.

At the core of this transformation is the TMS’s remarkable ability to establish consistent communication and nurture strong connections. Utilizing brokerage-focused integrations wherever possible lets your team focus on important things like building a better relationship with the customer rather than combing through your emails, visiting load boards and reviewing carrier paperwork. Leave the days of manual and sloppy effort behind and embrace a unified front, march together towards shared objectives. Transportation activities become a well-synchronized dance of efficiency, eliminating bottlenecks and streamlining operations.

The true power of your integration-based partnership comes to light when adversity strikes. Partnerships fortified by a TMS become a useful crutch to lean on when disruption-causing activity strikes. Rather than spinning wheels trying to find the disconnect, locate the replacement or reissue the quote, the tracked history and simplified usage enable a path to faster resolutions.

The Rise Of Unity Between Partners: Data At The Core

Enhancing visibility and facilitating informed decision-making as a freight broker hinges on sharing real-time data and insights with partners. The power of this approach comes from the ability to provide a clear view of the market dynamics. In an unpredictable market, data-driven analytics becomes the driving force behind informed decision-making and staying ahead in the competitive race.

Collaboration thrives when partners have access to real-time insights, contributing to strategies that lead to resounding achievements amid constantly shifting landscapes. These insights, especially with carriers, let you quote smarter, create meaningful relationships with a focus on repeat business and leave less money on the table. This approach creates trust and a reliable pool of go-to business partners that will be ready to help you out of a jam.

Conquering Disruption Together

Developing your TMS into a centralized platform for partner management is the backbone of broker success, facilitating transparency and agile conflict resolution. When choosing your TMS, prioritizing partnerships, integrations and data will allow you to truly take advantage of what technology has to offer. Through this integrated system, brokers encourage straightforward communication, quoting, dispatching, tracking and more with partners.

Amidst disruptions, collaborative thinking and resource-sharing through strong partnerships create a foundation of efficiency, resulting in significant time savings for everyone involved. Brokers leverage the collective expertise and support of their partners, transforming obstacles into opportunities. Pooling resources allows them to enhance efficiency and remain adaptable in the face of adversity.

In essence, the key to a broker’s survival lies in nurturing and leveraging their partnerships through a centrally connected TMS. Such an approach not only ensures their resilience, but also paves the way for long-term growth and prosperity in an ever-changing market.

Forging The Future Through Strong Relationships That Last

Freight brokers can bolster their ability to maintain strong partnerships by relying on a powerful Transportation Management System. While there are various systems available, Tai TMS stands out as the all-in-one solution uniquely designed for brokers.

Discover how Tai TMS can be the game-changer in transforming your freight brokerage with our latest White Paper here.

 

Solutions to Help Address Shifts in the Economy: Part II

By: Brian Smith, CEO of Banyan Technology

Implementing a technology solution that is constantly evolving can help mitigate issues quickly while satisfying increased B2B customer demands in OTR shipping. For tasks such as requesting rates or tracking shipments, automated technology can create operational efficiencies and eliminate manual methods that may lead to human error or demand hours of costly manpower.

Determining Best Mode for Shipments: Having the ability to consider all modes for all shipments is essential to compare and choose the method that works best for your shipping needs. What works for one may not work for another. Even more valuable is being able to determine that in one screen, saving both time and money.

Open Up the Savings Possibilities with an Evolving Digital Solution

The Journal of Commerce is reporting that the Truckload U.S. producer price index (PPI) fell 1.5% and is down 5.1% from its March peak and the LTL PPI fell 4.7% from July, following a revised 3.9% drop that month, according to data from the U.S. Bureau of Labor Statistics. This can open up the possibilities for shipping freight cost-effectively in this economy.

Find Value in the Supply Chain and Augment Efficiency

Without dramatically increasing costs, multi-mode technology solutions for OTR shipping provided by a partner with integrated capabilities helps deliver a clearer insight into shipping operations for all OTR modes, how they work, and the ability to evaluate which shipping methods work best.

The right partner will take the time to understand your business and proactively recommend cost-saving measures and changes to your shipping operations that will help minimize overspending and create a more efficient shipping strategy. A valuable technology provider adopts a client-centric approach, collaborates with clients, responds to feedback, and leads with a client-first approach to product development, service, and support.

Collaboration with clients is a critical component to a successful client-focused approach to product development. Leveraging client feedback helps the technology provider enhance their platform and improve its functionality to respond to the clients’ changing needs.

Better with Banyan Technology

Banyan Technology’s LIVE Connect® platform delivers real-time intel, actionable insights, and instant access to information to help drive greater operational efficiencies and cost savings for shippers, 3PLs, and supply chain partners. Our industry-leading freight management platform with the most real-time carrier connections has evolved into the industry’s most innovative and comprehensive freight technology solution.

LIVE Connect is a complete solution for all OTR shipping to rate, schedule and track shipments for all modes from a single screen, providing increased efficiency and automation that results in significant savings on their freight spend. The comprehensive features and functionality help increase data availability and shipment visibility to help make better business decisions.

To satisfy the evolving needs of our clients and help them remain successful as the shipping industry changes and the economy shifts, Banyan continues to seek out partnerships with vetted companies that share the same goals. For example, our recent innovative Truckload expansion was possible due to partnerships with companies like Trucker Tools, Truckstop.com, and Transfix. Each brings a unique piece to help our clients successfully execute Truckload shipments through LIVE Connect.

Banyan remains committed to providing innovative solutions for LTL, Truckload, Local Carrier, and Parcel shipping. Our client-centric approach to product development and our commitment to service and support continues to drive our aggressive product development plan for ongoing innovation and collaboration to evolve with the changing shipping industry.

Contact Banyan Technology today to learn how you can take advantage of our multimode solution that allows you to rate and execute all OTR modes from a single screen. evolve with the changing shipping industry.

 

Solutions to Help Address Shifts in the Economy: Part I

By: Brian Smith, CEO of Banyan Technology

As inflation hits industries across the country due to a weakening economy, the supply chain continues to see rising costs impact shipping as businesses shift their focus to maintaining the status quo. Rising shipping costs are exacerbating concerns for businesses trying to minimize economic impact to their bottom lines, but those heightened costs can be remedied with the right technology solution.

Even with an uncertain economy and more unforeseen changes to come in the supply chain, 3PLs should not panic. To prepare for this shift in the economy, implementing or switching to an innovative technology solution that allows them to offer rating and executing for over-the-road (OTR) shipments from a single screen is their best bet. Having shipping options that are financially and operationally efficient is key, in addition to flexibility within their business model to determine best cost and use-case scenario.

More Options to Help You Remain Nimble Amid Uncertainty

Shifting to a singular multi-mode digital solution helps 3PLs remain flexible in their operations by offering access to real-time alternatives to their traditionally used OTR shipping modes. For example, 3PL customers who typically ship freight using less-then-truckload (LTL) services may want to consider TL in the current economy to save money. The TL spot market has seen rates drop 40% since a February peak, according to FreightWaves.

3PLs may also want to offer an easier solution for consolidating loads, which is easier to do with a single platform for managing all modes, specifically for moving freight between modes properly and avoiding losses. Consolidating shipments helps to reduce freight spend by splitting the cost of the load either with other shipments or with freight from another 3PL customer. There also are fewer transfers and touchpoints when using load consolidation, allowing the shipments to reach their destinations faster while minimizing the opportunity for damage or losses.

Benefits of a Single Platform for All Modes

For OTR shipping, LTL has been leading the way in the adoption of digital solutions to transport freight. API connectivity established in this mode has been slow to translate into Truckload shipping. 3PLs can add value to their operations from a single digital platform offering real-time connectivity to a large pool of carriers for all modes, including integrations for load boards and spot rating creating API connectivity for Truckload shipments.

With the uncertainty of the current shipping environment and economy, a technology partner who can offer booking capabilities for shipping in multi-modes is invaluable. In addition to more options for carriers, multi-mode shipping capabilities also offer significant cost savings, better freight rating, and can increase the timeliness of deliveries.

Improving Freight Spend: With the use of a single solution for rating and executing all modes, 3PLs have access to historical data to predict which mode is best for similar shipments in the future. Reducing the number of systems amounts to faster, easier processing of orders, shipments, and scheduling.

Shipping Analytics and Reporting: Another key benefit of using a technology platform with multi-mode shipping capabilities is the increased analytics and advanced reporting functions that will help measure performance and share information within the supply chain.

Moving Freight Faster: Increase the number of available carrier connections within the supply chain by accessing more modes through a single freight management solution. These connections may include finding available capacity within a tight market, utilizing a different mode than usual to move freight more efficiently, consolidating freight when appropriate, and evaluating performance in all modes through data capture and analytics.

 

To be continued….

 

Modern Technology: The Key to Long-Lasting Broker-Carrier Partnerships

Article Submitted By: TAI Software

Establishing formidable relationships is the foundation of any esteemed business. This especially holds true for brokers in the transportation industry, where there are approximately 700,000 carriers registered with the Department of Logistics and Transportation (DLT). Emphasis is often placed on customer satisfaction, but equally vital is nurturing relationships with carriers. Treating carriers with as much care as customers not only illustrates goodwill but also sets the groundwork for long-term partnerships. To achieve this, brokers must invest in advanced technology, such as a Transportation Management System (TMS) from a trusted partner.

How an Exceptional TMS Can Drive Success

Integrating up-to-date technology like a reliable TMS allows brokers to exhibit their commitment to caring for carriers. This technological investment communicates a clear message: carriers are valued partners, deserving of the best tools and support. Unlike outdated manual systems, a TMS streamlines processes, reduces paperwork and minimizes administrative burdens. Alleviating these pain points demonstrates the brokers’ understanding of carriers’ needs and their willingness to advance their success.

  1.     Faster Payments

The uncertainty of when their next paycheck will arrive is perhaps the most common burden carriers face. Timely payment is a key factor that determines carriers’ satisfaction and willingness to work with brokers again. A strong TMS eradicates any hesitations for the carrier by enabling brokers to expedite payment processes, guaranteeing prompt compensation. Automated invoicing, payment tracking and integration with accounting systems eliminate delays and reduce payment-related frustration. This efficient payment cycle enhances carrier cash flow and solidifies their trust in the broker’s commitment to mutual success.

   2.   Improved Communication

Brokers who prioritize nurturing relationships with carriers understand the importance of clear and timely communication channels. Advanced solutions offer  centralized platforms where brokers and carriers can exchange critical information, such as load details, delivery updates and documentation. Real-time notifications and alerts keep carriers informed about any changes or updates, reducing confusion and enhancing efficiency. This commitment to simpler communication displays the brokers’ dedication to their partnerships with carriers.

   3.   Easy Transactions

Streamlining transactions benefits both brokers and carriers by reducing friction. A trusted technology partner provides carriers with user-friendly interfaces and tools that simplify the process of accepting and managing loads. Carriers can easily access relevant information within a single platform. This simplification saves carriers time, reduces administrative burdens and even creates a positive experience that nurtures trust and loyalty towards the broker. Investing in a TMS that prioritizes ease of use empowers carriers to focus on their core operations, resulting in improved productivity and increased satisfaction.

Strengthening the Broker-Carrier Partnership Through Technology

To thrive in the transportation industry, brokers must recognize the value of their relationship with carriers. Adopting modern technology such as a dependable TMS empowers brokers to demonstrate care for carriers by addressing their needs. These integrations enhance the broker-carrier bond and lay the foundation for partnerships built on trust. Brokers who prioritize their relationships with carriers through advanced technology will always stand out, driving operational excellence and growth in the dynamic world of freight.

For an in-depth exploration of proven strategies for securing and retaining carriers in a dynamic market, take a decisive step forward by downloading Tai’s White Paper. Gain invaluable insights and actionable techniques to strengthen your partnerships and navigate market fluctuations. Empower your brokerage with knowledge that makes a difference. Click here to access Tai’s White Paper and unlock the secrets of an unbreakable broker-carrier relationship.

Technology Enabling Instant Insurance at your Fingertips.

By: Andy Bauer, VP Sales & Marketing with Redkik

When you think of technology, most don’t immediately associate it with Insurance. Buying insurance remains grossly the same as it did at inception for shippers and carriers alike, with current processes and solutions that are inefficient and lack very much needed automation. If you have started your technology journey through the use of a platform to help operations, you are already in a unique position to modernize the acquisition of insurance, simplify the process and create value.

Redkik is a global software company with the mission to simplify and improve the insurance industry for all parties within logistics and transportation. By identifying the major issues in acquiring insurance, through personal and learned experiences, Redkik decided to tackle the industry head-on so insurance will no longer be the cause of headache and heartburn.

Redkik decided that the only way to move the insurance world forward is with innovation. Artificial intelligence and machine learning elevate the insurance buying experience with per-shipment instant quotes, backed by leading insurance companies, that are based on actual data sets enabling  lower risk and higher coverage for any type of shipment.

Redkik also cares about its partners, knowing personally the struggle as a start-up fleet owner and comprised of experts in the logistics and insurance sectors. Knowing that change is difficult and sharing in the success of the transition to transactional policies is preferred, we offer a revenue share that adds even more value to your company and signals that we cherish your partnership.

Increase your Business with Embedded Cargo Insurance.

Redkik offers its SaaS solution as an easily adoptable API integrations.  Differentiate yourself from the competition with the world’s first fully embedded cargo insurance solution. Redkik has been integrated on 2 continents so far and is capable of going anywhere in the globe that you are transacting business.

Keep your customer where they belong.

When we integrate into your platform, we want you to keep your customer in your system – without redirecting them to external websites or portals.

Allowing your customers to always stay on your platform streamlines the purchase journey and makes sure you never lose the customer mid-way through the process due to hassle, time, or confusion.

Your Customer, Your Brand.

You have worked hard to build a reputable brand for your company. We believe it’s not our place to hijack your platform to promote our brand.

You will stay in charge of your customers’ experience, while getting access to the vast benefits of Redkik’s unmatched software.

Tailored Coverage

In today’s market the customer should be in the driver’s seat. Traditional off-the-shelf policies do not reflect this as they give you little to no flexibility and they rarely cover 100% of yours or your customer’s needs.

Redkik’ s single trip cargo insurance solution gives your customer maximum flexibility, while our AI and machine learning algorithm makes sure they only pay for what they need so that their needs are prioritized, meeting your customer needs with tailored coverage.

One-click Coverage

Through integrating our API with your current online system, your customers will get access to the market’s most seamless cargo insurance solution with market-leading ease of use.

To solidify our case, Redkik recently collaborated with EKA Solutions Inc. to integrate our transactional InsurTech solution. This particular integration empowers small and medium size broker, carrier, and shipper businesses to operate from quote-to-cash with affordable and best-in-class digital tools, enabling the higher performance demanded in tomorrow’s supply chain.

​​​​​ ​​“There is no greater industry need than reducing risk at every level of the supply chain for customers – so EKA and Redkik are kicking off this new year by taking action,” says JJ Singh, Founder and CEO for EKA Solutions, Inc.

“Together with EKA we are combining our visions for an optimized supply chain to offer solutions for the industry’s actual needs without shortcuts. Through this strategic partnership, we are streamlining the process of purchasing insurance with modern and efficient technology that will undoubtedly transform how the industry views insurance products,” said Chris Kalinski, Founder and CEO of Redkik, Inc.

This collaboration enables Redkik developers to better guide you through the entire API integration process and provide you with all the necessary tools.

To learn more about Redkik and our passion for integrating technology with Insurtech solutions to create a better experience, add value with reduced risk; visit us at  www.redkik.com .

TOOLS YOU NEED, NO MATTER THE STATE OF THE MARKET

Tai TMS HAS EQUIPPED BROKERS WITH THE TOOLS THEY NEED TO MAXIMIZE THEIR REPS’ TIME & EFFICIENCY, NO MATTER THE STATE OF THE MARKET

“Like a fine wine, a TMS matures with age”, says Tai Software CEO, Walter “Mitch” Mitchell. 2022 has been a year full of maturation, evolution, and outlook for the future…not just for Tai Software, but for the entire freight industry as a collective. The resounding heartbeat for the Tai team over the course of this past year has been enhancing their TMS product offerings & integrations to support the growing broker need for efficiency in workflows to maximize their reps time (as hiring has paused for many brokerages) and the need for freeing up reps to focus customer relationships to strengthen those bonds.

As the industry looks onward to 2023, with both optimism and an initial concern of a possible down market, Tai Software has been a leader in actively engaging with brokers all over the country to better understand their new needs in an uncertain market, and how the Tai TMS product has evolved into a must have tool for navigating operations in any market.

When a brokerage is firing on all cylinders; from their workflow, processes, accounting automations, etc.…they are doing all the right things to keep momentum, no matter what the market is doing. Tai empowers brokers to do just that with regular product releases, new features, and new integrations to support your needs with access and benefits such as:

  • New Integrations let Tai TMS users view robust rate intelligence tools and compare directly to their own historical quotes while evaluating and negotiating active carrier quotes.
  • Access to cloud-based billing software designed to facilitate the exchange of bills with carriers, resolve disputes, collect documents, and make carrier payments.
  • Integrated digital factoring and payments that eliminate credit risk,
  • Digital freight matching (DFM) service that identifies available capacity, submits offers to carriers, and provides a Book Now workflow.
  • An efficient solution for streamlining back-office carrier payment operations.

Tai Goes Beyond Providing Basic Tools.

Tai helps to support YOU with a new TMS Chat Support, a TMS Knowledge Center and enhanced time saving features like a Shipment Search Bulk Feature, Shipment Manifest documents, New Customized Alerts, Accounting Enhancements, Insurance Compliance Indicator, and Disabled Carrier Warnings.

Tai Software has coined the phrase, “Your TMS Partner for the Long Haul”. This isn’t just a clever marketing tagline, this is a mantra for how Tai supports their customers’ needs in great times, and in challenging times.

Tai TMS has created an all-in-one domestic freight management system for full truckload and LTL shipments. We provide your team with unmatched speed and scalability with automation implanted into every phase, along with direct integrations to carriers, load boards, and capacity tools.

Tai Software’s core group of developers and freight industry experts has helped freight brokers scale growth for over 20 years. Through constant evolution and new feature rollouts and are on a mission to provide brokers with everything they are going to need as the industry shifts & evolves itself. We are committed to hearing the needs of our customers, not only to gain intel for product developments, but because we want our customers to win, to grow, and to move the needle in any market – and that’s what being a true partner is all about.

Article by: Tai Software

 

TIA is the premier organization for third-party logistics professionals in North America and abroad. Membership at TIA adds value to your business and provides resources for growth.
Learn More

Alliances