Transportation technology provider Banyan Technology said yesterday it has partnered with transportation management system (TMS) vendor Pierbridge Inc. in a move to help third party logistics (3PL) companies keep ahead of rising parcel shipping costs and complexity in carrier management.
3PLs are feeling those strains as an increasing number of businesses outsource parcel shipping to 3PL partners due to limited resources, capacity, and budget, Banyan CEO Brian Smith said in a release.
By pairing Banyan's application programming interface (API)-based live connectivity platform with Pierbridge's Transtream Parcel TMS enterprise shipping software, both companies aim to help 3PLs leverage technology-sharing solutions, Cleveland-based Banyan said.
"With so many aspects to manage amidst the demand—such as rate negotiation, parcel shipping systems, and first-to-last-mile logistics—even the best 3PLs can use some help," Smith said. "Joining forces, Banyan and Pierbridge are better positioned to provide that help with comprehensive technology sharing tools."
The deal extends a relationship between the two firms, since Australian logistics software provider WiseTech Global—which is the owner of Marlborough, Mass.-based Pierbridge—belongs to an e-commerce delivery consortium formed by Banyan in 2017. WiseTech has been building its U.S. footprint in recent years through a number of other acquisitions, including the TMS software vendors Trinium Technologies and SaaS Transportation Inc. in 2018.
By linking their platforms, Banyan and Pierbridge will now allow 3PLs to rate, book, and track both pickup and delivery of their first and last mile services. Those capabilities can help drive faster ship times, expanded delivery service options, and expanded regional coverage available through local carriers, Banyan said.
"As e-commerce accelerates demand for faster and more cost-effective last mile delivery capabilities, Banyan's extensive network of local carrier and white glove services will dramatically expand Pierbridge's existing global parcel and freight network," Bob Malley, Managing Director of Pierbridge, said in a release.