New solution centralizes and automates rating processes to remove friction between shippers, 3PLs, and capacity providers
CHICAGO – November 4, 2021 – With capacity at record lows, project44, the global leader in real-time supply chain visibility, today announced its new Over-the-Road Rating solution, a data-driven product that centralizes information to increase transparency in the rate quote and tendering process. As the impartial connective tissue for supply chain logistics, project44 is uniquely positioned to provide aggregated data and support one-to-many interactions that solve key industry challenges, enabling shippers, 3PLs, and carriers to operate more effectively.
Over-the-Road Rating is a software application that centralizes information on truckload contract and spot market rates so shippers and 3PLs can make smarter buying decisions. Capacity Providers benefit by generating more direct revenue from the 400+ project44 customers in North America. As a one-to-many platform, project44 will never be a broker, but is instead focused on facilitating connectivity and delivering accurate, actionable data to help solve the most critical supply chain challenges.
“As a neutral technology platform and the leader in real-time logistics data, project44 can aggregate highly accurate truckload and spot rate data to increase transparency and automation in the quoting process,” said Jett McCandless, founder and CEO of project44. “Over-the-Road Rating is actually an extension of one our first offerings from 2016, LTL Rating, which many customers use and love today. I am proud of our commitment to innovation as we continue to extend our capabilities to help shippers and 3PLs keep freight moving for their customers.”
Over-the-Road Rating
Without a unified platform to receive information, shippers, 3PLs, and capacity providers must manage countless emails, spreadsheets, and phone calls to get quotes. Over-the-Road Rating gathers highly accurate quoting data and automates aspects of the rating process. This removes friction between shippers and 3PLs when retrieving a rate quote from capacity providers, creating much needed transparency.
“Organizations everywhere are feeling the strain of capacity shortages in the global supply chain. Over-the-Road Rating extends on project44’s core value proposition — being the data pipes for the supply chain,” said Guillermo Garcia, founder and CEO of SmartHop, a leading AI powered dispatch solution for OTR Trucking. “Exposing this data more broadly helps us automate manual processes in the rating and tendering process and increase transparency with highly accurate quoting data.”
In a single platform, Over-the-Road Rating provides the data visibility and communication channel that shippers, 3PLs, and capacity providers need to streamline and expedite their interactions with one another. On the demand side, shippers and 3PLs can see centralized rating and quoting data and use a single platform to streamline the interactions between shippers and 3PLs with capacity providers. On the supply side, Over-the-Road Rating will enable capacity providers to find loads in their most critical lanes, receive rate requests automatically, and gain richer insight into shipper and demand-side 3PLs buying decisions, all while controlling who sees their rates in the platform.
In its first iteration, Over-the-Road Rating will provide a centralized web interface that helps customers identify truckload capacity within minutes. Over time Over-the-Road Rating will support rating and tender for additional modes of transport in a single, API-based platform that enables one-to-many interactions; all while leveraging project44’s proprietary analytics to help improve confidence in acceptance rates, overall trackability, and service-levels.
Any truckload broker or carrier is invited to use Over-the-Road Rating and there is no technical implementation required. To help Shippers, 3PLs, and Carriers navigate unprecedented supply chain challenges, project44 has made both Over-the-Road Rating and Cooperative free for the remainder of 2021.
To learn more about Over-the-Road Rating or to sign up, click here.