There is no denying it. Overhauling or updating legacy technology platforms is a big task. However, the opportunities it presents outweigh the challenges to performing the updates. Plus, as the transportation and logistics industry become more digitized, companies that don’t upgrade to fully automated technology, including volume-pricing APIs, are going to be left behind.
Why Freight-Pricing APIs?
Outdated technology or just using an EDI platform does not provide the real-time information that shippers, 3PLs and carriers need to effectively manage freight. By updating to a software-as-a-service (SaaS) solution with access to fully automated LTL carrier APIs, companies would have access to freight rates from multiple carriers all in one spot for easy comparison while also providing visibility into the carriers themselves, shipment tracking and in freight bill management.
Additionally, by updating a transportation management system (TMS) with an LTL freight-pricing API, third-party logistics providers (3PLs) or shippers that are more adept at full truckload shipping can more easily add LTL to their modes of service. Some 3PL customers are hesitant in expanding modes because navigating the LTL sector can be a difficult task for shippers that are not familiar with its nuances. However, by implementing an API into the TMS, companies will have access to the knowledge, expertise and the technology to confidently enter the LTL industry. They will also gain visibility through the entire shipping process that is desired by most end customers these days, thanks to the boom in e-commerce and the Amazon Effect.
With Banyan Technology’s freight-pricing API, LIVE Connect™, companies have access to more fully automated LTL carrier connections than any other solution. In addition to all of the functionality that comes with Banyan’s solution, it also provides automation, visibility and easier, more accurate billing. While outdated solutions seem to be digitized, oftentimes, there is a person behind the scenes manually checking carrier rates, providing quoting as well as monitoring the 3PL’s or shipper’s locations and looking at different aspects of the loads (like weight and size) to do quality control to ensure it will ship properly. The Banyan solution is doing all of that now through automation. The API automatically pulls in all of the rates directly from the carriers as well as shipping requirements or disqualifiers.
Additionally, with Banyan’s Freight Bill Management (FBM), invoicing and billing is improved. FBM provides needed visibility through the whole shipping process. PRO numbers and invoice numbers are created and tied to the transaction as soon as the load is booked. Therefore, all necessary information is available immediately for each transaction.
By implementing an LTL volume-pricing solution, companies will see significant improvements. APIs save companies time and money because of the ability to easily compare freight rates while also automatically booking a shipment directly with a carrier.
3PLs are able to set up each of their customers with a predetermined markup and the customer can access the tracking, tracing and carrier updates themselves. Carrier rates are pulled directly from their APIs instead of loading contracts manually, which increases accuracy and removes the element of human error.