Load board operator DAT Freight & Analytics has launched a Profit Estimator tool designed to help carriers determine how profitable a load can be based on their own operating costs and goals.
Accessible using the DAT One freight management system, the Profit Estimator considers each carrier’s unique and essential operating costs such as insurance, fuel, and truck payments; its mileage and revenue targets; and the broker’s offer rate. It then calculates a baseline profit or loss for each load, according to a DAT press release.
See also: Fleet costs jump 21.3%, with fuel by far the leading expense
“DAT’s Profit Estimator is the best tool I could have for my business,” said Destiny Rykard Davenport of Destiny Way Logistics. “It allows my team and I to book loads more efficiently and save money on fuel by allowing us to enter our variable and fixed costs into the Estimator. This lets us know how much we need to negotiate on a load, which gives us a better profit margin and bargaining power before calling a broker.”
To use the Profit Estimator, run a load search in the DAT One app. Tap one of the results and scroll down to the Profit Estimator section. Users can enter their costs and other variables to calculate an approximate profit for hauling that load.
See also: Indicators keep pointing to bottoming freight cycle
DAT One users only need to set up the calculation once for the tool to automatically provide a baseline profit or loss for every load detail shown.
“We understand that quoting freight rates can be confusing, and we designed our DAT Profit Estimator to simplify this process," Sarita Benjamin, DAT’s head of product for Freight Match, said. "It helps carriers work out their daily operating costs in a matter of minutes, which in turn will enable them to make more informed decisions and ultimately become more profitable.”
