Truckstop.com has introduced Rate Insights, a spot market rate tool that uses machine learning and artificial intelligence to provide same-day load-level rate estimates.
According to the company.
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 pricing tool feature is available in 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 Estimation – View specific rates based on unique load attributes.
- Rate Comparison – Compare the displayed rate to an estimated rate based on data.
- 4-Week Trend – View 4-week spot rate trends.
- 36 Month Trend – View 36 month spot rate trends.
“Accurate and timely spot rates give brokers, shippers and carriers the bargaining power and ability to stay competitive in the marketplace,” said Pete Lunenfeld, Chief Product Officer, Truckstop.com. He called it a “game changer… given that the industry standard uses 30-day lane-level rates using extended regional averages. We’re leveling the playing field for our customers, enabling them to continue to advance their freight and business. »
Available this month to new and existing customers, Rate Insights will allow customers to view and negotiate competitive rates. It is available on desktop and in the Truckstop.com mobile app, Truckstop Go, as both a load rate estimate and a general rate analysis tool for lane analysis.