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Brokers without automated quoting technology are falling behind their more tech-savvy peers. When brokers choose not to take advantage of these emerging solutions, they can only scale their businesses within the parameters of human limitations.
On average, people can only quote about 50 loads per hour. Additionally, no individual broker can be available to quote loads 24 hours per day due to basic human needs like eating and sleeping, as well as other necessities like commuting to work and spending time with family.
Companies that continue to rely on people to handle all quoting tasks are stunting their own growth. In order to scale in 2023, brokers must embrace cutting edge solutions like automated quoting,
Computers do not need to attend to frequent survival needs or pursue a healthy work-life balance. This means that technological solutions like quoting APIs are always available to work, complementing human employees during the workday and holding down the fort when they are away.
This around-the-clock availability is a crucial element of growing a brokerage in today’s market. Bitfreighter CEO Brad Perling knows that. In fact, Perling founded Bitfreighter with one goal in mind: helping brokers scale their businesses.
Initially, the company set out to do this by revolutionizing EDI integrations. Bitfreighter left behind the transactional pricing model that once characterized EDI, instead opting for an “unlimited everything” approach. As a result, the company’s clients have been able to scale their shipper integrations without taking on added costs.
In the spirit of elevating service with ease, Bitfreighter boasts a robust catalog of integrations, including:
That same mentality inspired the company to create its real-time truckload quoting API, dubbed LiveQuote.
LiveQuote allows brokers to send their shippers automated quotes tailored to each company’s expectations, capacity and requirements. This feature allows brokers to issue a virtually endless number of quotes with no extra legwork by simply setting their parameters and letting the computer do the work for them.
LiveQuote helps brokers optimize their operations in two different ways.
Win more freight
LiveQuote enables brokers to win more freight than ever before because they don’t have to have a real person waiting around to issue quotes.
This feature allows companies to secure more loads during business hours. It also means that brokers can keep winning freight during times when people are typically away from work, including lunchtime, common commuting hours, evenings and weekends.
Using LiveQuote to capture freight that previously slipped through the cracks is one of the quickest – and simplest – ways brokers can scale their businesses.
“We are seeing a phenomenal return on investment,” Perling said. “We’ve seen people go from winning three loads a week to 50 loads a week overnight.”
Improve conversations
When brokers use LiveQuote, they have access to the abilities and information they need to have better conversations with shippers.
“We capture all the analytics behind the spot boards, the dynamic pricing marketplaces and the spot markets.” Perling said. “You can compare those different types of quoting layers and start to understand the opportunities that exist for your brokerage.”
This holistic view of the market empowers brokers to secure more competitive rates, elevating the services they offer their shipper customers and improving those relationships.
While Bitfreighter’s suite of solutions is designed to help brokers scale, companies do not need to be concerned about bidding on too much freight with LiveQuote. The tool features a capacity component that allows users to dial automated quoting up or down, depending on organizational needs and preferences.
The “unlimited everything” approach Bitfreighter is known for not only means that brokers always have access to more, it also means that they can set their own individualized limits. This high level of customization sets all users up for success.
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