TransCore announced high average credit scores among brokers featured on its DAT Network, the online freight marketplace that forms the backbone of the company’s DATConnect.com and 3sixty Freight Match services. The credit score of 93.1, on a scale of zero to 100, is based on an average of the individual broker credit assessments issued by TransCredit, an independent provider of credit reports and freight bill collections for the trucking industry.
TransCore says carriers searching for freight loads with its online freight matching services likewise can expect reliable and timely payment. Brokers on TransCore’s DAT Network issue payment within 28 days on average, and 64 percent offer quick pay to carriers, which improves cash flow for carrier companies.
“TransCore’s number-one priority is to help customers operate successfully and profitably, especially in a tight economy,” says David Schrader, senior vice president of Freight Business Services operations for Portland, Ore.-based TransCore. “In an industry of unknowns, our customers can rest assured that our load board is monitored to ensure that participants have solid reputations and a history of timely payments. With several thousand brokers in our system, an average credit rating of 93.1 from a trusted third party speaks volumes about the quality of our customers and TransCore’s commitment to serving them with integrity.”
TransCore’s 3sixty Freight Match and DATConnect.com have roots in the truck stop load boards established 30 years ago to help carriers optimize the use of their trucks and trailers. Those early load boards led to the development of the nation’s premier freight matching services, which offer essential tools to move freight loads, evaluate business partners, determine routes and manage a range of business processes. TransCore says its products and services help carriers, brokers and shippers to develop mutually beneficial relationships, optimize use of resources and mitigate business risks, thereby increasing efficiency and profitability.
TransCredit’s scoring system is based on a variety of commercial credit data sources, including Dun and Bradstreet, and is adapted to reflect the unique requirements of the transportation industry. The scores measure corporate risk based on the brokers’ length of time in operation, financial strength, payment trends, size of business and collection activities.