Shielding Your Business: How Freight Brokers Can Combat Fraud

In the complex and fast-paced world of freight brokering, fraud poses a significant and persistent threat, impacting individual businesses plus the overall industry’s integrity. The financial implications are profound, with brokers potentially losing millions annually to deceptive practices. However, a proactive approach to security can drastically mitigate these risks with a blend of diligent research, rigorous verification processes, and the strategic application of technology. By understanding the fraud mechanisms within the industry, brokers can arm themselves with the knowledge and tools necessary to protect their operations, maintain their reputations, and support the overall health of the freight sector.

For a more in-depth exploration of these strategies and their implementation, let’s delve into the specific measures that can protect your business against fraud.

Due Diligence: The First Line of Defense

 Thorough Carrier Research

Begin with verifying Motor Carrier (MC) numbers and Department of Transportation (DOT) registration through government databases, such as the Federal Motor Carrier Safety Administration’s (FMCSA) and the U.S. Department of Transportation’s (USDOT) websites. A carrier’s safety record and any history of complaints are also telling. Employing industry resources and conducting credit checks can further illuminate a carrier’s financial stability:

  • Verify Carrier Information: Ensuring the accuracy of contact details like phone numbers and email addresses is crucial. Inconsistencies can be a red flag, signaling potential fraud.
  • Request Additional Documentation: Documents such as insurance certificates, licenses, and permits should be verified directly with the issuing authorities to ensure their legitimacy.
  • Scrutinize References and Contracts: References can provide invaluable insights into a carrier’s reliability. Additionally, meticulously reviewing contracts for clear terms can prevent future disputes and protect your interests.

 Careful Vetting: Separating Fact from Fiction

Fraudulent carriers often present warning signs, such as rates significantly below market averages or operating with minimal authority. Investigating these anomalies can prevent entanglement with dishonest operators. Pay special attention to carriers with limited history or mismatched vehicle information, as these can indicate fraudulent behavior.

Tune in to three warning signs of a potential bad actor:

  1. A carrier with less than three months of authority and zero inspections.
  2. Names or phone numbers are not provided for the carrier.
  3. A carrier with just a single truck, and the VIN doesn’t match the one you have on record.

 Technology as an Ally: Automating the Fight Against Fraud

Incorporating technology can streamline the vetting process, making identifying and avoiding fraudulent carriers easier. Utilizing a secure load board, such as Truckstop, equipped with features like multi-factor authentication (MFA) and ID validation can be a game-changer in the fight against fraud. Additionally, Truckstop RMIS Carrier Onboarding and Monitoring helps you identify and mitigate identity theft and suspicious activity before it impacts your bottom line. Get daily status updates, change notifications, and carrier directory sourcing tools to save time and protect your business.

Ultimately, several keys to ward off potential threats are diligence, vigilance, and the strategic use of technology. By focusing on these and other important efforts, brokers can protect their business and contribute to a more secure and reliable freight industry.

 

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.

 

The key questions of produce season: When, how, and how much?

by Chris Eudy

In certain parts of the country, the grass is starting to turn green, and buds are beginning to appear on the trees. Spring will soon be upon us, and with it, the produce season. Tomatoes, strawberries, and other fruits and vegetables are set to make their way from the Southeast and California to the rest of the country. Produce season, as it always does, will have a tremendous impact on reefer volume, capacity across the board, and pricing.

Brokers across the country are asking: When will produce season hit (and where)? How will this impact capacity? How much will prices go up as a result of diminished capacity?

When

While DAT doesn’t have a crystal ball, we do have the next best thing: industry experts Dean Croke and Ken Adamo. Produce season can, and often does, start anytime between mid-March and April at various points across the southeast and California (but that is a huge window to try to plan around).

Ken and Dean host a weekly market update show, DAT iQ Live, that discusses the impact of major events, like produce season, on the market. Their latest show can be found here.

One of the challenges with produce season is the weather. It can have a huge impact on the viability of crops and how many make it out of a certain region of the country. For example, tomato and strawberry season is set to begin in southern Florida. Those volumes are currently down over 30%. When do we expect those volumes to increase and begin moving northward along their traditional route? Stay tuned to our market updates for more information.

How

Now we have to ask the question of how the produce season impacts the freight market and expected supply and demand (which will no doubt have a downstream impact on price).

Going back to the example of Southern Florida produce, typically that means tightening capacity for reefer and dry vans out of Florida. The reason van capacity also tightens is because sometimes, when reefers aren’t shipping refrigerated goods, they ship non-refrigerated goods and act as extra capacity to the dry van space. The table below shows DAT’s MCI index for southern Florida.

The MCI index scores market tightness or looseness on a -100 to +100 scale (with +100 representing an extremely tight market). Market tightness associated with produce season typically means linehaul costs go up as it’s harder to find capacity.

 

How much

Finally, the million-dollar question: How much does the produce season impact the cost of freight on a given lane? The answer is, potentially, a lot.

Below are snapshots from DAT’s RateView and Ratecast tools. Both are looking at reefer spot freight from Lakeland, Florida to Atlanta, Georgia. Historically, starting in March, freight out of Lakeland begins to increase until it crescendos in May. Booked rates increased from an average of $800 to $1,200 (that’s an increase of 50%!)  in 2023. This year, we are projecting a similar spike but with a peak average of $1,038. As you plan out your RFP strategy and calculate your margins, this $162 difference can be the difference between making or losing money.

While planning for the produce season can seem like a daunting task, DAT is here to help.  Please reach out to your customer success representative or account manager today for any questions you have or support you may need.

Not sure where to start? Try these resources.

Pricing 101 

New to the market and looking to win produce freight? Check out our Pricing 101 guide to understand the ins and outs of pricing to win new business and expand your area of expertise.

Marketing 101

Keeping shippers and carriers informed of your brokerage’s services is the key to growing your business. In our Marketing 101 guide, learn more about how to get in front of the right audiences and keep your business top of mind during produce season.

Weekly updates

Stay up to date with market trends and where freight rates are trending. Join our DAT experts, Ken Adamo and Dean Croke, weekly on DAT iQ Live or check out DAT’s Trendlines to have the most updated information available to drive your freight decision making.

Additional resources

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.

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

 

What Can Freight Brokers Do When It’s Tough To Find Load Coverage?

Freight brokers are on the front lines of the trucking industry. They act as an intermediary between shippers and carriers, which is not an easy job. Plenty of freight brokers claim to have been under pressure from their shippers because they could not find trucking companies who could provide them with quality service in a timely manner.

What do freight brokers do when it’s tough to find load coverage? What should they consider before hiring new carriers?

The Problem

A scenario where a broker gets a call from their shipper complaining about truck drivers is not uncommon. Perhaps the trucker was late, handled the freight poorly, or was even impolite.

The consequences of this issue are evident – the shipper will not want to work with the broker again. The next time a customer has freight that needs to be moved, the broker is forced to scramble for available and reputable carriers. This problem could lead to an even bigger issue – lack of load coverage, which means increased wait times for their customers’ shipments.

Carrier Sourcing

What are the best methods for finding reputable, high-performing carriers? Carrier sourcing is one way to begin this process.

Referrals

Arguably the easiest and most effective way to find carriers is through referrals. Ask other licensed freight brokers you come in contact with if they have any carriers they would recommend.

A list of recommended carriers can also be compiled based on past experiences, for example, how long it takes for their shipments to reach the destination, what was done with the freight during transit, and whether or not they were on time.

Load Boards

Load boards are online places that provide brokers with a way to list their available loads and find carriers capable of moving that type of shipment. If the broker is not looking for anything in particular or has open slots on their trucks, load boards allow them to take bids from potential carriers interested in working with them.

This method is beneficial because it allows brokers to compare rates and customer feedback about carriers interested in their loads.

Using software with integrated load boards is a great way to streamline the process of finding carriers. Software is one way in which a broker can save time when looking for new carriers, but they should always double-check references before signing with a new company.

FMCSA Data

Although it is presented as a viable option for finding carriers, the Federal Motor Carrier Safety Administration (FMCSA) data should be used with caution. Some brokers are wary about the information reported in this database because there have been cases where shippers or drivers report false grievances against competitors to take business away from them.

Other Options

Social media and Google are not the best options for finding carriers, especially when a broker is under pressure to find load coverage quickly.

If a load is posted using such services, drivers who are only close by and on social media may assist you. A Google search will not provide a broker with an accurate picture of the available carriers.

Pinpointing a Good Carrier

Once you find a viable carrier option for your next load, it is important to know what you are looking for to make the right choice. What makes a carrier high-quality?

Being on time is one of the most critical factors when determining if a carrier will benefit your brokerage business. Being late can cause many issues that could create problems down the line, such as missed connections and unhappy shippers.

Are they insured? What types of loads do they typically carry? Will there be enough room for other items you need to transfer, or will they need to be transported on a different truck? What is the carrier’s payment policy, and what is their online reputation like?

Focus on these points as a way of finding carriers who are high-quality.

Price Points

Understandably, no one wants to go for the most expensive carrier, but, keep in mind, quality services come at a price.

Be sure to find out what the cost of the load will be before you choose which carrier to use. Low-paying loads typically come with low-quality drivers. There are exceptions to the rule, but they are not the norm.

There is also a chance you may have to pay more than what was quoted if unexpected charges or fees are involved in transporting your shipment.

High-quality carriers charge higher than average rates for their services, but they also typically provide better customer service and have more experience behind them.

Being a Reliable Broker

You will obtain better odds in finding good-quality carriers for yourself and your customers if you establish yourself as a trustworthy broker.

What is it that makes a broker reliable?

One factor would be how often you offer your services and the types of rates and charges you give out. If there are constant changes or difficulties in getting payments from clients, this can make it harder for drivers to trust you as a broker.

One of the most significant factors is respecting the Hours of Service (HOS) regulations. HOS determines the number of hours truck drivers are allowed to work, the off-time they need between shifts, and how long they can drive.

As a broker, it’s your responsibility to know these regulations so you’re not giving out loads to carriers who will be breaking them or giving impossible deadlines. If you do this, it won’t be easy to find good-quality carriers who are willing to work with you and your brokerage business.

Speeding Up Your Processes

Lastly, as a broker, choosing an appropriate carrier can be difficult if your process slows you down.

What can be done to speed up your workflow?

The first thing is utilizing your resources and contacts as much as possible. They will most likely know the best carriers around and may even have worked with them before. Existing relationships can also make it easier for drivers to trust brokers with whom they work frequently.

Having a designated system in place is also essential to ensure that you aren’t wasting time and energy with tedious and inefficient workflows. Having your schedule, invoices, contracts, etc., all set up in one place can help you access them quickly when needed.

Transportation management system (TMS) software helps brokers implement automatic processes by creating an organized structure that makes it easy for drivers and carriers who you work with to access information.

Conclusion

Finding efficient, timely, and responsible carriers can be tricky when you are in the freight brokerage business.

Speeding up your processes also plays a role in how quickly you can find suitable carriers to provide reliable transportation for loads. This means having an organized system that makes it easy to access the necessary information when needed. Additionally, using TMS software will make sure everything runs smoothly and efficiently.

If you’re interested in checking out freight brokerage software that will revolutionize your business and help you find load coverage in no time, contact us at Tai Software for more information. We’d be happy to help you out!

 

What Should Freight Brokers Look for in Their TMS Software?

Freight brokers are a major aspect in the business world, who make sure that cargo is delivered on time and without any issues. Freight brokers need TMS software that will help them increase their efficiency and provide a return on investment for the freight brokerage. TMS software needs to be able to do everything from order tracking, customer service, and accounting in one place. Before choosing any TMS software, freight brokers must ensure that it includes a variety of TMS capabilities in order to maximize its use and get the most out of it.

TMS software should allow the freight brokerage business to handle many, if not all, tasks in managing their company. That may include truck dispatch, driver billing/payroll, route planning, GPS tracking of vehicles, and more.

Consider the different types of TMS software that will cater to your needs. For example, for a small organization of freight brokers who are only responsible for facilitating one shipment between two manufacturers (and not considering many other points), there may be less need to dedicate resources or features towards procurement management.

What Will The Right TMS Software Do For Your Freight Brokerage Operation?

The TMS freight broker software should have the right features including access to various carriers, detailed cargo tracking and reporting tools for load pickups, and delivery status updates. That being said, there are several reasons why businesses might need something more freight industry-specific than traditional TMS.

A freight brokerage company will have the opportunity to save time, money, and resources for its clients. In other words, it will act as an outsourced shipping department for companies by providing them with value in the form of business cost savings.

It’s for this reason why the TMS freight broker software should not only cover TMS features but also customer-specific needs. That said, there are several common features that all freight broker-specific TMS systems need to have. Among these, we can include the following:

Matching Specific Freight to the Right Carriers

One of the most important TMS features that freight brokers need to look out for is the ability to match specific freight with carriers. Aside from basic freight matching, the TMS software also needs to be able to identify which carrier will offer the most cost-effective solution for a given shipment or modes of transportation and provide an accurate estimate of delivery times and costs associated with each option.

A TMS system should also allow freight brokers to set up their preferred shipping options and carriers. If they need to ship refrigerated freight, for instance, the TMS platform should be able to consider the needs of the shipment and present only carriers that offer refrigerated trucks.

Carrier Pricing Comparisons

Freight brokers need to be able to compare prices so that they’re always getting the best available deal for their customers – even if this means shipping with a less popular carrier at times because it will offer rates that are better than the alternative.

In addition, the TMS freight broker software should allow for more than just a simple price comparison. It’s also necessary to have access to carrier information such as operating guidelines and hours of service. The TMS freight broker software should also provide real-time carrier rates constantly updated throughout each day or week.

Automation Capabilities

TMS freight brokerage software should also be able to automate many of the day-to-day tasks associated with managing a logistics business.

For instance, most transportation management software comes equipped with automated functions like shipment creation and tracking; these are features that make life easier for busy brokers who don’t have time to worry about minor tasks.

In addition, TMS freight broker software should come equipped with its own electronic document management system that can be accessed from any device. This helps manage the work efficiently and is especially handy when a professional freight broker needs access to documents or reports while on location at an airport terminal, for example.

The TMS freight management software should also track and integrate with the TMS of customers, vendors, carriers, and trucking companies.

Integrate with Load Boards

Another essential transportation management software feature that’s important is integrating with load boards and other freight brokerage software. The majority of freight brokers will have to use load boards such as DAT, TruckStop.com, LoadSmart, or 123LoadBoard, among others. Such a freight board acts as an online marketplace where freight brokers can find loads from competing carriers.

TMS freight broker software should be able to integrate with these load boards and other common freight brokerage operations such as FTL load booking and trucking freight rate quotes – all of which are a part of the lifeblood for any successful freight broker business. This will allow brokers to source their load coverage from a single platform and update their listings across multiple load boards as necessary and from a single, centralized location.

Direct Carrier Integration

Direct carrier integrations are TMS features that allow freight brokers to have access to carriers’ systems from their own TMS. Freight brokers need to match pricing and availability data with carriers to make informed decisions on what is best suited for their customer needs. The connection can be made through an application programming interface (API) and electronic data interchange (EDI) integrations.

This TMS freight broker software is crucial because it can provide access to the full range of carrier data, including rate quotes and customer information. It also provides a way for freight brokers to update their customers on delivery status without manually logging in or making phone calls.

The TMS should also support EDI integration because this will allow them to send and receive shipments electronically instead of via faxes or paper copies that are inefficient. This is necessary because it provides a secure connection between the two parties involved in the transaction.

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