Echo accelerates freight bidding process with automated carrier negotiations

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Technology news and briefs for the week of Aug. 20, 2023: 

Technology Shorts

Trucking insurer deploys claims management software

Trucking insurance provider Koffie Financial has deployed cloud-based claims management software to streamline and optimize the way claims are processed in the trucking sector.

The insurer, having implemented Snapsheet’s software platform, has already seen improvements in key performance indicators. Early data shows a close ratio exceeding industry standards by 25%. Automating customer notifications, correspondence and reserving is expected to decrease manual tasks by over 90%, facilitating prompt resolutions, enabling faster payments and minimizing processing times. Koffie Chief Risk Officer Justin Whitaker said in addition to a better close rate, Snapsheet’s technology will help Koffie improve loss ratio and cost savings.

"(Snapsheet’s) claims system, uniquely tailored for immediate AI and technology operationalization, boasts a proven track record with over four million claims handled, more than 25 million automated tasks executed and hundreds of integrated workflows,” Whitaker said. “This wealth of experience and technology ensures a streamlined journey for our policyholders that swiftly puts them back on the road where they belong.”

Koffie has also integrated telematics technology into its claims management, enabling it to monitor and analyze driving behavior, bolstering risk assessment and improving loss ratios.

Echo adds automated carrier negotiations

Echo Global Logistics Inc., which provides technology-enabled transportation and supply chain management services, has added automated carrier negotiations to its online carrier platform EchoDrive, which gives carriers real-time access to search, view and bid on available loads.

This new feature aims to accelerate the bidding process and streamline the booking of available freight.

"This new process, combined with our advanced load-matching algorithm, allows carriers to now find available freight and book it in an automated manner within seconds, eliminating inefficiencies associated with the time carriers spend gaining access to freight,” said Echo President and COO Dave Menzel.

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Echo's automated negotiation capabilities allow dispatchers to locate available shipments they're interested in and book digitally even if the listed Book Now price isn't a good fit. The platform's algorithm determines if a bid is within the threshold Echo is willing to accept, and once the carrier bid has been input, they receive a rapid, automated response either accepting, counteroffering or rejecting the bid.

Orbcomm partners with Motorcity Systems

Truck and trailer telematics provider Orbcomm is enhancing the deployment and use of its solutions using Motorcity Systems’ cloud-based middleware platform TORQUE integration network, which connects with multiple transportation management systems used by motor carriers.

The partnership gives fleets access to in-cab and equipment information from Orbcomm’s smart truck and trailer solutions directly within their native operating systems. This helps improve dispatch-driver messaging, workflows, safety monitoring and more.

The flexibility of the cloud-based TORQUE platform allows fleets to select the telematics and workflow data they want to sync to their systems, better adapt to changing technology requirements and automate current and future back-office and mobile processes.

Descartes integrates payroll management services

Logistics and supply chain management software provider Descartes Systems Group has expanded the capabilities of its final mile logistics platform. The company’s GroundCloud platform is now integrated with payroll management services from Gusto, allowing GroundCloud users to simplify payroll processing, ensure accurate payroll services and decrease the time and costs associated with managing payroll using a separate application.

The combined solution offers delivery service providers a configurable, cost-effective and streamlined alternative to outsourcing payroll or internally using a non-integrated third-party payroll solution.

GroundCloud combines final-mile logistics automation with operations, safety and compliance in an integrated platform. Final-mile carriers leverage the platform to receive customer delivery orders, plan and execute routes against those orders, train and monitor drivers on safety and performance, manage assets and resources, and analyze the operating efficiency of their business. The platform also incorporates video telematics to provide driving event detection and verification, combined with reactive coaching solutions designed to improve safety.