Fair, accurate, reliable freight pricing used to seem far out of reach and like a pipe dream for many shippers.
That’s no longer the case today, with solutions available in the marketplace that put freight pricing at your fingertips. The key is finding the right solution, ultimately leading to the right freight price.
For Today’s Shippers, Status-Quo Pricing Leaves a Lot to be Desired
Shippers face myriad complexities and challenges in determining optimal freight rates. Market volatility, rapidly changing demand, and variable carrier capacity can cause freight rates to change in the blink of an eye.
For example, fluctuating diesel prices can raise or lower freight trucking rates. On the capacity side, it’s cherry season in California, and shipping the fruit adds more than 20% of volume in the refrigerated trucking market — something shippers across several industries will need to take note of as they plan their freight shipments.
Shippers not only have to navigate changes in supply, demand, and the market, but they have to do it all while keeping their strategies cost-effective. That makes it even more important to find the right freight price.
Finding the Right Price Begins with the Right Solution
As shippers determine optimal freight rates, they could use less reliable solutions like load boards, outdated broker invoices, or crystal balls. Or, they could look to technology and software solutions to simplify freight pricing.
Digital solutions provide real-time pricing insights and help shippers make decisions based on the most current data and information. They don’t rely on historical data, load board bids, or guessing games.
Three Features of the Right Freight Pricing Software Solution
As shippers look for the right digital solution for freight pricing, they should consider whether the software has three key features:
1. Accessible Implementation
Freight pricing information shouldn’t be hard to reach, siloed, or unusable.
The solution should offer cloud-based and hyper-relevant freight rate data. Software that provides accessible implementation puts accurate, real-time data at your fingertips.
2. Real-Time Market Insights
The right freight pricing software should offer real-time or near-real-time updates on pricing information.
Think about the typical lifecycle of a load payment. Payment terms of 30, 60, or 90 days can mean that invoices are often outdated and no longer accurate to current market conditions.
Instead, real-time data allows shippers to respond quickly to market fluctuations and demand changes.
3. Transparent Freight Pricing Methodology
The right freight pricing solution for you should have a transparent pricing methodology and provide clear insights into how rates are calculated.
Transparency builds trust between shippers and carriers, leading to equitable pricing negotiations.
A Perfect Fit: Find the Right Price with Farelanes
At Farelanes, we provide accurate and timely pricing data with accessible implementation,
real-time market insights, and transparent methodology.
Farelanes technology streamlines freight pricing and simplifies shippers’ decision-making by offering accurate rate updates and data analytics tools. It empowers them to optimize pricing strategies and navigate the complexities of the freight market with confidence and efficiency.
We stand out by gathering, analyzing, and anonymizing lane data sourced from banks and factoring companies. Then, we hygiene this data to provide a valuable solution for industry players seeking accurate and timely lane pricing.
But we don’t stop there. We need to offer more than transparent pricing. We offer accurate, transparent pricing in real time, not after the fact.
A lot of other companies claim to offer transparent pricing. We actually do it.
Farelanes offers a variety of lane pricing data to meet your specific needs:
- Silver: Unlimited line haul rates for city pairs, up to three favorite lanes, and up to 27 trailer types. Farelanes Silver gives you the information you need when you need it.
- Gold: When you need more, upgrade to Farelanes Gold…everything Silver offers, plus export Level II detail, lead times, fuel surcharges, and much more.
- Bulk Data Publishing: If you already run your own backend data system, our Bulk Data Publishing allows you to plug our feeds directly into your system, giving you unlimited favorite lanes, charts and graphs, miles, export data, and much more, via a flexible API that can adapt to whatever you’re running now.
Get in touch today to discuss which service is right for you and how to have the right freight price at your fingertips.
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