Brokerage Automation Without the Help of Venture CapitalPosted December 19, 2019 by
Photo by Artem Beliaikin on Unsplash
Convoy announced today that they managed to automate the brokerage process. At TNX, we know how much impact such a powerful solution has on the operations of a brokerage. Our technology already enables some of the world’s largest logistics operations to achieve this level of automation. It also adds the intelligence to make the best use of it.
Our earliest customers have been part of the acceleration enabled by Smart Brokerage Automation for more than two years. That does not just give us unique insight into the development of the key technology, but also a front-row seat at seeing the results: double profit contribution, 95% true automation rates, and an average time to match of 20 minutes.
How to get to Smart Brokerage Automation
Smart Brokerage Automation combines three key challenges into one solution: what is the right rate for a shipment, which carriers are relevant for a shipment, and how to use these two pieces of information to achieve an actual acceptance by a carrier.
Achieving brokerage automation remains a hard challenge for most of the industry. According to Frost and Sullivan, brokers “[…] have been around for years but where they have struggled is precisely in automating pricing. Most have had to create a system of customer account executives with call support to actually complete the brokerage process.”
There have been great improvements in predicting rates and, more recently, in predicting the most relevant carriers for a shipment. But the key challenge is the process of converting these pieces of information into an actual acceptance by a carrier. We call this Smart Tendering, and it is at the core of our product.
If you are interested in getting the advantages of smart technology without having the benefit of many hundreds of millions in venture capital, then please reach out to us at firstname.lastname@example.org. We can show you how to get there in less than three months.