Truckstopcom plans to offer live demonstrations of its new rate forecasting enhancement at the end of September Photo by Sean KilcarrFleet Owner

Truckstop.com plans to offer live demonstrations of its new rate forecasting enhancement at the end of September. (Photo by Sean Kilcarr/Fleet Owner)

Truckstop.com to offer enhanced Rate Analysis tool

Cloud-based program integrates proprietary FTR data and algorithms to provide freight rate forecasting as far forward as 52 weeks.

INDIANAPOLIS. Freight matching provider Truckstop.com and research firm FTR are to joining forces to provide what both tout as the “first of its kind” rate forecasting tool through Truckstop.com’s cloud-based Rate Analysis service; an upgrade that will be officially unveiled with live demonstrations at the annual conference of the Council of Supply Chain Management Professionals (CSCMP) at the end of September.

Trent Broberg, general manager of Truckstop.com’s Real Time Freight division, explained to Fleet Owner here at FTR’s annual conference that the forecasting enhancements built into Rate Analysis can aggregate daily rate data from several sources – the 300,000 loads posted daily thru Truckstop.com, information from FTR, as well as load data compiled by a motor carrier – on a three-digit zip code or state-to-state basis across 160,000 lanes by trailer type and then project it up to 52 weeks out into the future.

“It improves the comfort level for motor carriers when making freight bids,” Broberg said. “And it’s fast. You can use it analyze and compile a bid for say 10,000 lanes and do it in 15 minutes; something that normally would take eight people a week to conduct.”

He added that this enhanced version of Rate Analysis can be accessed via smart phones, tablets, and desktop computers, since it is cloud-based, and will be offered for a monthly subscription fee starting at $200.

“This provides rate analysis down to the granular level within lanes – where the rubber meets the road, so to speak – to give carriers a faster and more accurate way to understand how to price their services,” Broberg noted.

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