Customers can negotiate rates and stay competitive in the spot market with Truckstop.com Rate Insights, the only spot market rate tool using machine learning and artificial intelligence to provide highly accurate, same-day rate estimates at the load level.
Rate Insights comes standard with Load Board Pro and Premium subscriptions, providing standalone accessibility for shippers, and API access for all customers. This more advanced rate tool feature is available within the freight matching web and mobile experiences. Carriers, brokers and shippers can access daily market rates specific to load attributes, including equipment type, location and dates.
New Truckstop.com Rate Insights features include:
• Rate estimate – See specific rates based on unique load attributes.
• Rate comparison – Benchmark the posted rate against a data-driven estimated rate.
• Four-week trend – See spot rate trends over four weeks.
• Thirty-six-month trend – See spot rate trends over 36 months.
"Accurate and timely spot rates give brokers, shippers and carriers alike the power of negotiation and the ability to stay competitive in the market," said Pete Lunenfeld, chief product officer, Truckstop.com. "We are the first in the industry to use machine learning and artificial intelligence to provide customers with same-day spot rate estimates at the load level—a game changer, considering the industry standard uses 30-day lane-level rates using broad region averages. We are leveling the playing field for our customers, further enabling them to continue to move their freight and business forward."
Available this month for new and existing customers, Rate Insights will enable customers to post and negotiate competitive rates, and is available on desktop and in the Truckstop.com mobile app, Truckstop Go™ as both a load rate estimate and general rate insight tool for lane analysis.https://truckstop.com/product/rate-insights