The freight forwarding industry has undergone a fundamental shift in recent years. With the rise of e-commerce and globalization, shippers are demanding faster and more reliable shipping options. In response, freight brokers and logistics service providers are under increasing pressure to deliver instant and accurate pricing to their customers.
Additionally, more and more shipments are being handled through the spot market because the prices agreed upon in contracts aren’t always favorable for everyone involved. This means both carriers and shippers will be at a disadvantage unless they start asking for spot market prices. However, this also shows that we need to get better at negotiating spot deals. So, the cost of dealing with agreed-upon shipments needs to be the same-as or higher-than the cost of working out a deal for spot shipments.
Our Autonomous Quotation solution is backed by data science and machine learning algorithms, allowing brokers and LSPs to predict spot market rates with precision and adapt quickly to market changes. Account managers can customize business rules and use price predictions as a baseline to optimize their top and bottom line. Plus, our real-time win/loss feedback loop further enhances the accuracy of the predictions.
