Shippers and 3PLs have welcomed the transparency offered to the freight management industry through pricing APIs, particularly the savings they get when taking advantage of real-time carrier rates rather than relying on dated methods for securing pricing. There’s also the hidden benefit of an instant competitive advantage when competitors using outmoded legacy processes secure outdated rates from carriers. This means pricing API users are spending less on shipping and increasing profit margins while gaining a competitive edge with freight costs.
Banyan Technology’s LIVE Connect™ pricing solution allows your company to evolve and emerge from static base rates and connect to your preferred carriers in one API solution. Our dynamic pricing also helps your company save even more with better-than-negotiated rates. To get a better understanding of how much you could be saving with Banyan as your technology partner, we created our online Freight Spend Savings Calculator.
This tool takes your estimated monthly LTL shipment total and our current customer averages to determine your potential annual savings. Those averages are currently about a 12% annual savings on current clients’ freight spend. For example, if you have 500 LTL shipments per month, you can potentially save about $216,000 annually using our LIVE Connect™ API solution.
The online calculator’s algorithm is based on current client averages. The numbers are figurative and a representation of possible savings. We strongly recommend that you speak to a member of the Banyan team to get more information about dynamic pricing and how implementing LIVE Connect™ can help your company save money on its LTL freight spend. We can also help you understand our flexible and innovative approach to real-time technology in the supply chain.
Banyan Continues to Enhance Platform with New Features
Banyan is the top-performing API platform with nearly three times as many carrier connections as any other provider in the OTR transportation and freight management industry. We recently added the QuickShip™ feature to our LIVE Connect™ platform that will positively impact your bottom line. This new tool was designed as another way to save Shippers and 3PLs time and money by creating efficiencies in your shipping operations.
QuickShip™ streamlines data entry in as few as 5 points expediting the process you utilize to drive a rate and book a transaction. This new tool also gives Shippers and 3PLs the ability to set inbound and outbound shipping rates through your own contracted carriers -- resulting in significant cost savings. Clients who worked with Banyan during the beta testing of this product experienced a savings of greater than 10% using this tool.
Contact Banyan Technology today to learn more about how you can save on your LTL freight shipping using our API technology.