Finding freight shipping solutions in a post-COVID era will be more different and could be more challenging than ever before. The types of market conditions the industry is dealing with include capacity crunches, uncertain economic conditions, fluctuating costs, increased shipping needs and more. If only there was some way to just centralize the search for shipping solutions quickly and affordably. Well, there is. Shippers and carriers everywhere are turning to digital freight matching to find their freight solutions. Let’s dive into digital freight matching, what it is and how it works.
What Is Digital Freight Matching?
Digital freight matching is the process of capacity fulfillment between shippers and carriers through some sort of digital application or platform – mainly in spot market vs. contract. Carriers find the specific loads they need to fill their trucks and fleets, and shippers find available capacity that best fits their specific shipment. It’s like a dating app for the freight world, just without the hassle of sifting through weirdos and wasting time on dates.
It’s a quick, efficient, and effective method of capacity fulfillment. And what separates the good digital freight matching experiences to the subpar is the ability to go beyond simple lane and load matching. Digital freight matching programs should be able to do things like handle invoices, contracts, the Bill of Lading (BOL) and even provide business insights, such as flexible tracking and driver performance for carriers.
Unlike those dating apps, with digital freight matching applications and platforms, you only get the best of the best in freight shipping all in one place. Everyone benefits from a good digital freight matching experience. Carriers and shippers alike save time and money finding solutions for their capacity requirements and cargo.
In fact, digital freight brokerage (which includes digital freight matching) is part of Frost & Sullivan’s recent analysis on Truck-as-a-Service (TaaS). The report covers broad service segments, including telematics, platooning, business analytics, retail digitalization and digital freight brokerage. Additionally, Frost & Sullivan’s report states that the digital freight brokerage segment could reach $54.2 billion by 2025.
How Does It Work?
Imagine being able to input all your shipment details one time, and being able to easily compare all available lane, carrier, and rate options based on the information you provided. Sounds like a dream come true, right? This isn’t a dream anymore in today’s freight world. That’s exactly how digital freight matching works. And it works in a similar way for carriers as well. A carrier is looking for specific shipments to fulfill their missing capacity and avoid empty space during transits. Digital freight matching is mutually beneficial to carriers and shippers. Talk about a dream come true!
Many digital freight matching channels integrate with transportation management systems (TMS) which work hand-in-hand. Ultimately, a TMS is a top-of-the-line digital freight matching platform that performs all the essential functions a shipper needs. You input shipment details, see available results and manage all important documents, paperwork and tracking information in one centralized location.
Ship in the Digital Age with a 3PL
Digital freight matching is just one of many mechanisms in the digital freight shipping world today. In the current volatile market, both shippers and carriers need help finding available capacity as quickly as possible. At FreightCenter, we can help you find needed capacity quickly for all your loads which leads to lower costs and greater margins for your business. We have the tools and resources to strengthen your supply chain and to simplify every step of the shipping process.