Labor shortages, the rise of eCommerce, and the Amazon Effect have forced a new reality onto the logistics industry reconfiguring what traditional transportation management systems (TMS) look like. As a result of this digital push, many 3PLs have prioritized the need for agile and efficient freight management operations.
Freight management APIs (application programming interfaces) empower 3PLs in the digital world, offering real-time rates and savings, carrier connectivity, and data-informed freight logistics. Joining the digital freight pricing revolution is not complicated, most freight management APIs integrate seamlessly into your existing TMS giving you improved visibility and better coordination of freight, labor, and costs. For these reasons, the rate of adoption of APIs within third-party logistics (3PL) is increasing. The technology-based system is a simple way for logistics professionals to capitalize on the digital economy during even the most volatile times.
Effectively Manage Your Freight Spend
As of late, our industry holds transparency and visibility in the highest regard, making API technology the logical choice for 3PL businesses. With freight management APIs like LIVE Connect, freight-rate data is transmitted instantly throughout the entire supply chain and without human intervention. This real-time data provides 3PLs with an easier way to manage and optimize freight spend, delivery times, and existing relationships. On average, 3PL clients that have worked with Banyan Technology have seen a 12% savings on freight spend.
The unique time our industry is facing has made one thing clear, technology integration is imperative for better business operations and bottom-line results. Companies save valuable time and money through the automated responses and actions that APIs execute. By syncing your freight spend solutions with an API, you can make data-backed decisions; settle disputes, automate auditing, and improve cash flow through an API data hub that is accurate and transparent.
Freight management API allows for full visibility and connectivity across the supply chain. With a modern integration platform, you can complement your existing applications and systems to ultimately empower your team with leaner business processes.
Fortunately, setting up an API is simple and cost-effective. Everything involved with your API integration will be streamlined:
One of the fundamental advantages of freight management APIs for third-party logistics is instantaneous connectivity and data-sharing throughout the supply chain. Each step of a shipment’s lifecycle is tracked directly in the software without manual entry eliminating the risk of expensive and time-consuming errors.
Good freight pricing APIs will also allow for real-time lane rate reductions - clients of Banyan’s Live Lane Specials™ have seen immediate savings of 10-15%. A significant savings and profitability advantage that would go unnoticed without an API tool.
We’ve mentioned previously the Amazon Effect and digital revolution, both of which have shaped and altered the logistics industry forever. Their combined impact has made it impossible to avoid technology that supports real-time data.
Immediate Benefits. Long-term Value.
Looking ahead to the future, we can expect the logistics sector to continuously demand increased accountability, speed, and accuracy. What will give you a competitive advantage as a 3PL provider? The ability to adapt and leverage API technology will prove essential to the success and growth of your business. It allows you to be highly connected for better freight management spend and helps you provide the premium service that customers expect.
What does superior freight digitization mean for 3PLs in the long term? Better coordination, visibility, and real-time data connectivity are the ultimate advantages of API technology. As a 3PL, you specialize in supply chain efficiencies and can’t afford to be using stale business practices.
With API technology you can join the digital revolution effortlessly while reaping the benefits. Contact Banyan Technology today to learn more about our easily integrated LTL freight pricing API technology.