Echo Global Logistics recently added automated carrier negotiations to its EchoDrive online carrier platform. With this new feature, carriers can submit a bid on available loads and receive an instant notification of acceptance or counteroffer, accelerating the bidding process and streamlining the booking of available freight.
“Echo continues to pursue innovative transportation technology with our automated carrier negotiation system,” Dave Menzel, Echo president and chief operating officer, said in a news release. “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."
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 company said. The platform’s algorithm determines if a bid is within the threshold Echo will accept and, once the carrier bid is entered, they receive a rapid, automated response either accepting, counteroffering, or rejecting the bid.
This new feature functions via EchoDrive, Echo’s web portal, which gives carriers real-time access to search, view, and bid on available loads.
“We’re excited to offer automated negotiation capabilities that give our carriers real-time feedback on the rates they’ve submitted,” said Jay Gustafson, executive vice president of brokerage operations. “This new negotiation process simplifies transportation management for EchoDrive carriers by providing a seamless booking experience, powered by our behind-the-scenes algorithmic intelligence.”
