Freight broker tools can offer real-time insights that give you an edge in the competitive logistics industry. Unified carrier platforms, digital freight matching, automated load bookings and GPS-based location tracking can all save you time and money.
Some of the tools below offer key supply chain intelligence while empowering you to book more loads, improve safety and provide better service. They also can help you grow your business and avoid issues down the road. Find some of the most important tools for load tracking and predictive freight management below.
And when you finish reading, check out the other articles in our ‘TMS freight broker software’ series:
- Freight broker tools that will save you time
- Which freight broker tools give you real-time insights?
- How to choose the best TMS software for brokers
- Best TMS software for freight brokers
What are the benefits of real-time insights in a brokerage business?
Real-time insights in logistics offer supply chain intelligence to drive growth. By integrating your technological capabilities, you can gain holistic operational visibility that drives decision-making and load optimization. Idle time, fuel efficiency, driver behavior and load availability are examples of valuable information you may capture.
Having data available in real time enables you to respond to evolving conditions quickly. This usually entails implementing analytics software that equips you with important decision-making information. These tools help companies of all sizes set accurate quotas and forecasts, optimize opportunities and drive growth.
Consolidating information across platforms also saves you time in the long run. Companies often integrate functions like accounting, billing and invoicing with load booking, carrier vetting and onboarding, fleet tracking and document management.
6 freight broker tools to gain real-time insights into your operations
If you want to take operations to the next level and leverage real-time operational insights, here are six tools that can improve your efficiency.
Load booking automation
Automatic load bookings can save companies hours per load. The average load-booking time without automation is close to two hours. With automation, a load can be booked in an average of 15 minutes.
This type of freight broker tool circumvents the need for phone calls and long email chains. With load-booking automation, you can vet carriers automatically and filter for specific safety credentials. Those not meeting your insurance coverage or compliance, safety and accountability (CSA) score thresholds, for instance, are filtered out. This protects your company from liability in the event of an accident or product loss.
After carriers are selected, automating carrier onboarding and monitoring streamlines all parts of the load-booking process. This can prevent shipping brokers from losing hours of productivity trying to reach decision-makers and negotiating deals. Instead, vet possible carriers and book with the click of a button.
Technology integrations
As a freight broker, time is money. Technology integration freight broker tools make all of your data accessible from one place. This means no more time lost tracking down broker agreements, load tenders, rate confirmations, bills of lading and insurance certificates. The technology also enables you to electronically exchange load information with shippers, brokers and carriers in standard formats.
With technology integrations, you can automatically import and export data into your financial software for seamless interdepartmental communication. And from an operational perspective, integrations enable you to connect GPS data, electronic logging devices (ELDs) and other fleet management technologies for a complete view of your day-to-day performance.
Transportation management software (TMS)
A TMS system tracks loads and shipments in real time, acting as an essential freight broker tool. The foundational freight broker software, TMS empowers businesses to plan, optimize and document the movement of their goods in line with regulations.
Benefits of TMS include:
- Reduced costs
- Supply chain simplification across geographies, modes and carriers
- Faster and more accurate billing and documentation
- Enhanced security and visibility, especially in transit
Digital freight matching
Digital freight matching facilitates truckload capacity optimization, helping shippers find spot truckloads and improving connections between carriers and shippers. By automating communication, this tool lets companies construct shipments in real time. It also can help them increase volume while gaining new lanes and potential cost savings.
While you can partner with a digital freight brokerage, there are also direct digital freight matching services for all volumes.
Unified carrier platforms
A single, unified carrier platform offers a better experience for carriers who don’t want to work with multiple platforms and technologies. A unified software platform allows carriers to find, book and track loads with multiple brokers to meet all of their needs.
Often, a unified carrier platform includes specialized driver apps with tools, including real-time information on parking, fuel prices, load insurance, weigh scales, rest areas, truck stops, routing, Walmart locations and commercial driver’s license (CDL) legal protection.
GPS-based load tracking
GPS-based load tracking offers the most accurate, up-to-date information on fleet movement and is perhaps the most fundamental freight broker tool. These features can improve driver safety, reduce the risk of theft and improve customer satisfaction. Beyond that, GPS-based load tracking is quickly becoming the industry standard because of the cost savings and enhanced operations it provides. Key benefits include:
- Reduced field costs
- Lower operational costs
- Improved safety
- Increased productivity
- Improved theft recovery and prevention
Do you need freight broker tools?
You can manage your business with some free load boards and basic computing tools, but if your goal is to grow volume and increase revenue, freight broker tools will more than pay for themselves. Freight broker software and supply chain intelligence are designed to optimize insights and drive growth.
If you’re ready to take your business to the next level, freight broker tools like technology integrations, TMS, digital freight matching and GPS-based load tracking can improve efficiency and strengthen your bottom line. Need more resources? You can also check out the U.S. government’s Freight Management Program for an all-in-one reference of broker and freight-related legislation.
FAQ
Freight brokerage companies use diverse software options, including Trucker Tools, HubSpot, Salesforce, QuickBooks, FreshBooks, Axon and Strategy Live.
Brokers use diverse tools, including load booking automation, technology integrations to TMS, digital freight matching, unified carrier platforms and GPS-based load tracking.
Opinions vary on the main characteristics of a successful freight broker. Some qualities that can help you succeed include honesty, trustworthiness, resilience, professionalism and flexibility. Knowledge of the trucking industry, being self-motivated and customer-oriented and a willingness to keep learning will also help you succeed as a freight broker.
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