Imagine you can predict the future. How would you answer the following:

Where is the transportation industry headed?

What will drive the change?

What opportunities will benefit the trucking and logistics industries most?

Answering these questions created thoughtful conversations among fleet executives at the 2019 Truckload Carriers Association annual conference in March. The consensus among those discussions – the industry is evolving quickly with technology paving the way.

According to the Commercial Carrier Journal, four major themes predicting the next directions for the industry emerged at the conference: enhancing transportation apps, growing logistics, embracing technology, and meeting customer needs.

FreightRover started considering industry shifts two years ago at its 2017 launch. The challenge in starting a transportation technology company wasn’t just to predict the future of the industry, but to help create it. While we didn’t have a crystal ball, our instincts were correct with our CarrierHQ platform aligning to each of the four key areas fleet executives predict the industry is heading next.

Enhancing Transportation Apps

Driver apps aren’t new. Many large fleets have created home-grown driver apps or purchased out-of-the-box options for years. However, many apps available to small fleets remain limited in scope. CarrierHQ’s app takes a more comprehensive approach:

  • Mobile marketplace – drivers can access fuel, medical, and equipment savings within the same place.
  • Driver settlements – CarrierHQ offers full pay visibility including establishing deductions, electing pay frequency, and viewing net earnings.
  • Factoring portal – fleets factoring with FreightRover’s affiliate partner Rover180 can access receivables information and upload invoice paperwork using their camera phone.
  • Private load board – asset-based carriers and 3PLs can post freight to drivers through CarrierHQ’s load board. Drivers can self-select freight and provide load updates through the app.

Growing Logistics

With more than $700M awarded in independent contractor misclassification lawsuits in the past 10 years, asset-based fleets are understandably concerned about leveraging the capacity of owner-operators. However, in a catch22, they also don’t want to introduce a third-party into their customer relationship to access additional capacity. CarrierHQ serves as an important tool for any fleet’s employment classification risk mitigation strategy. FreightRover partnered with Legalinc to offer business formation services inside CarrierHQ. Independent contractors follow a step-by-step process to obtain their DOT authority and establish a Limited Liability Corporation (LLC). In doing this, asset-based fleets can expand their brokerage operations to leverage independent contractor capacity and maintain the direct relationship with their customer, without assuming driver misclassification risks.

Embracing Technology

In the trucking industry, 97% of for-hire fleets comprise 20 trucks or less. With such fragmentation, widespread use of new transportation technologies historically has a long adoption curve. No shortage exists of new company entrants working to solve transportation’s biggest challenges. At the Transportation Carriers Association conference, Greg Hirsch, senior vice president of Daseke, described these companies as providing new voices to help the industry evolve and attract the next generation of drivers.

Many of the new technologies in transportation specialize in creating efficiencies and controlling costs. FreightRover developed CarrierHQ with the same goals in mind. Fleets can purchase four insurance policy types through the platform. FreightRover has reduced the antiquated multi-week process of obtaining insurance quotes and binding to less than 48 hours through a mobile device. Fleet owners or individual drivers answer a series of questions to generate a real-time quote among multiple insurance companies. A policy is chosen and the insurance certificate delivered digitally. With CarrierHQ’s insurance offering, fleets and independent contractors don’t owe any money up front, instead paying through weekly or monthly settlement deductions. The no up-front investment in insurance and pay-as-you-go model also removes a barrier historically preventing many independent contractors from obtaining their own authorities.

Meeting Customer Needs

As customers demand faster deliveries, shipper service requirements keep increasing. Carrier on-time pick-up and delivery is more important than ever. CarrierHQ’s private load board feature meets these increasing demands by connecting to truck telematic devices and driver cell phones to capture freight tracking data. Fleets grant shippers data access to create streamlined cargo visibility.

CarrierHQ also allows the technology to be custom branded. Fleets and 3PLs benefit by white labeling the platform to create and attract capacity using the service offerings of the mobile marketplace. White labeling existing technology expedites deployment, preserves IT resources, and provides a marketing boost.

Capacity remains one of the biggest challenges facing the industry. Trucking currently sits short 50,000 drivers, a number projected to triple by 2025. Sign-on bonuses and increased marketing spend typically only create turnover among fleets and the existing driver pool. These tactics generally fail to attract new drivers to the industry. Outside of significant legislation changes or economic factors like work conditions and compensation, technology provides one of the best opportunities to stem the driver shortage. CarrierHQ tackles this issue three ways: 1) low-cost business formation services; 2) reducing the need for up-front insurance capital, which averages $3,000-plus per truck for small fleets; and 3) providing mobile access to fleet service discounts for the top cost areas of fuel, equipment, and medical. By reducing these barriers to entry and growth, CarrierHQ opens the doors for more new drivers to join the industry.

To learn more about FreightRover’s CarrierHQ and how it could benefit your business, request a quick demo at https://www.freightrover.com/demo-request/

FreightRover, the freight exchange and streamlined payment platform, announced today that it has joined forces with other industry leaders in the Blockchain in Transport Alliance (BiTA). BiTA initially formed in 2017 to build a forum of industry executives and companies dedicated to the development of blockchain standards and education in the freight industry.

“As innovative companies continue to develop technologies to improve supply chain capabilities, it is imperative that the industry builds ways to streamline fragmented data,” says Dave Halsema, Executive Vice President of FreightRover. “We are extremely excited to be able to work with industry leaders to shape the future of transportation blockchain technology to serve our mutual customers and partners.”

BiTA is the first of its kind, as blockchain is an emerging technology set to transform how the transportation industry utilizes and organizes data. Members of BiTA come from every facet of the industry: tech vendors, OEMs, tier-1 suppliers, consultants, banks, carriers, shippers, and brokers.

Blockchain will organize and streamline data that is currently fragmented throughout the transportation industry. For example, ELDs can send a near endless stream of data to the blockchain in real-time. Pairing this information with traffic data, weather data, etc. allows for up-to-the-minute rerouting. Additionally, capacity availability can change throughout the day, but the blockchain is able to provide the necessary transparency to know when and where capacity opens up, allowing participants to take advantage of shifts in demand.

FreightRover recognizes blockchain’s dynamic usability for transportation, and FreightRover’s real-time updates on load information and quick payment processing makes them a key partner within BiTA.

FreightRover provides a much-needed connection point for all players in the transportation industry, as freight is moved around the world. From its automated freight board, to its robust marketplace of integrations, users can streamline their freight flow. And when the load is delivered, FreightRover’s PayEngine ensures carriers are paid for the load in as little as 24 hours, while shippers/3PLs are given 30+ days to pay.

February 27th – March 2nd

Music City Center, Nashville, Tennessee

Booth: 2936

February is a busy month for everyone here at FreightRover! Our tech team is hard at work developing new features for the FreightRover app, and in the mean time we will be visiting ATA’s Technology and Maintenance Council (TMC) to discuss many of the changes in the transportation industry. From brakes to bearings, from scanners to software, ATA TMC’s study groups and task forces cover it all. Summed up, TMC is the technology marketplace for the trucking industry. Our National Sales Manager, Dan Marti, will be attending the event this year. If you’re heading out to the show, be sure to stop by booth 2936 and say hello!

 

Where Industry Solutions are Forged

More than just a trade show, TMC is home to trucking’s leading fleet professionals, vehicle manufacturers, and component suppliers. It is the industry’s leading forum for getting things done collaboratively.

 

Best Educational Program Available

Whether your interest is staying current on equipment, maintenance or technology issues, there’s no better venue than TMC meetings to catch up on industry-specific news.

 

Trailblazers in Thought Leadership

Fleets enjoy direct access to information on equipment and technology specifications and maintenance best practices. At TMC, equipment and technology professionals can:

  • Attend the industry’s most innovative educational sessions covering all aspects of vehicle maintenance and design. Planned by fleets, for fleets.
  • Gain and share information with hundreds of your peers at TMC’s Shop Talk, a free-form discussion on equipment issues.
  • Resolve troubling equipment issues at TMC’s Town Meeting and Fleet Operators’ Forum.
  • Participate in voluntary standards-setting efforts through TMC’s Study Groups and Task Forces, which are tackling important issues such as electronic logging devices, natural gas powered vehicles and emerging onboard technologies.
  • Witness and participate in the most informative technical event — TMC’s Transportation Technology Exhibition. TMC’s exhibition makes available to attendees the best minds on equipment issues in the trucking industry. This year’s exhibit features a special Alternative Fuels Pavilion; and a first-ever “Technology Showcase,” a new hands-on dimension of the exhibition (see page 14 for details).
  • Participate in TMC’s Future Truck Initiative. As the only industry association focused solely on truck technology and maintenance, TMC and its member companies work together with OEMs to create industry standards for future truck technology and equipment to ensure the truck of the future is one that is the most efficient to operate and maintain.

We are excited to be attending TMC and hope to see you there! All information on the event was taken directly from TMC’s meeting overview. For a full schedule of the show, click here.