Rate Insights, a new spot market pricing tool from Truckstop.com, will be available later this month for Load Board Pro and Premium customers of the service. It uses machine learning and artificial intelligence to provide accurate same-day load-level rate estimates.
Rate Insights provides self-contained accessibility for shippers and API access for all customers. This more advanced pricing tool functionality is available on freight matching web and mobile platforms. Carriers, brokers, and shippers can access daily market rates specific to load attributes, including equipment type, location, and dates.
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New Truckstop.com Rate Insights features include:
- Rate Estimate: View specific rates based on unique load attributes.
- Rate comparison: Compare the displayed rate to an estimated rate based on data.
- Four-Week Trend: View four-week spot rate trends.
- 36-Month Trend: View 36-month spot rate trends.
“Accurate and timely spot rates give brokers, shippers and carriers the bargaining power and ability to stay competitive in the marketplace,” said Pete Lunenfeld, chief product officer, Truckstop.com. “We are the first in the industry to use machine learning and artificial intelligence to provide clients with same-day spot rate estimates at the load level – which is a game-changer, given that the industry standard utilizes 30-day lane-level rates using a broad We level the playing field for our customers, allowing them to continue to advance their freight and business.”
Available in April to new and existing customers, Rate Insights will allow customers to view and negotiate competitive rates and is available on desktop and in the Truckstop.com mobile app, Truckstop Go, both as an estimate loading rate and general fare analysis tool for the track. analysis.