Rate Insights, a new spot market rate tool from Truckstop.com, will be available for Load Board Pro and Premium customers later this month. It uses machine learning and artificial intelligence to provide accurate and same-day estimates of load levels.
Rate Insights provides standalone access for carriers and API access for all customers. This feature of the more advanced pricing tool is available within internet and mobile platforms. Carriers, brokers and carriers can access the daily market prices that are specific to the shipping attributes, including type of equipment, location and dates.
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Truckstop.com’s new Rate Insights features include:
- Price Estimation: View specific rates based on unique load attributes.
- Price comparison: Compare the published rate with the estimated rate based on the data.
- Weekly Trends: See spot rate trends over four weeks.
- 36-month trend: See spot rate trend over 36 months.
Pete Lunenfeld, chief product officer at Truckstop.com, said: “Accurate and timely rates give brokers, traders and exporters the power to negotiate and remain competitive in the market.” “We are the first in the industry to use machine learning and artificial intelligence to give customers an estimate of the spot rate per day at the load level – a game changer, given that the industry standard uses 30-day level prices using a wide area. We are leveling the playing field for our customers and will continue to allow them to continue shipping. ”
Available to new and existing customers in April, Rate Insights allows customers to publish and negotiate competitive prices and, both on the desktop and in the Truckstop.com mobile app, Truckstop Go serves as both a load speed assessment and a general line speed understanding tool. are available. analysis.