With the release of our new platform in April, PostBidShip pushed forward at the speed of light to innovate and disrupt the transportation space. Our company more than doubled our team to support new customers and continuous growth. Alongside growth came recognition as a thought leader in our industry. FreightWaves recognized our platform as an innovative transportation software solution to watch as a member of the FreightTech 100 for 2020. Further recognition came from the Tech Tribune, who presented us the accolade of Top 10 Tech Startup in Scottsdale.
Looking back at the market, 2019 has been a difficult year for carriers. A constant excess of truck capacity drove spot market prices to ten-year lows. PostBidShip recognizes that carriers are a critical part of our shipper’s success, so the features released throughout the year have been focused on collaboration, communication, and visibility to improve the shipper/carrier relationship. Providing a complete data set in a single screen while retaining ease of use became the focus of our usability updates. Understanding that carriers leverage many different technologies to find loads, we wanted to eliminate searching for loads, instead creating a seamless and intuitive solution that displays preferred loads the moment a carrier logs in. Having the ability for shippers to define rules on how their loads should be shared with their carrier networks helps further streamline the shipper-carrier relationship. PostBidShip automatically sorts carriers by mode, equipment and geography and offers the appropriate carriers opportunities to bid on freight.
As the spot market is constantly in flux, we wanted to provide our customers with information that allows them to make more intelligent decisions. We partnered with FreightWaves to be the first company to integrate their raw SONAR data into a freight matching platform. This allowed us to create our own indices for showing customers capacity volatility, load demand, and current spot market rate. By enabling shippers to bring in their existing contract rates to compare against current spot market rates, shippers and carriers can negotiate in response to real-time market conditions. We also wanted to speed up negotiating rates, so we introduced the “I’ll Take It” price. The “I’ll Take It” price allows the shipper to define a target rate the carrier can instantly book to immediately end the auction. The “I’ll Take It” solution plus real-time SONAR data improves the spot negotiating process by reducing time to book and meeting the pricing needs of the shipper and carrier simultaneously.
As 2019 comes to an end, we are exceptionally grateful for our partners and customers who have supported us as we bring a close to the decade. We are excited that 2020 will bring continued innovation, platform intelligence growth and expansion into international modes of transportation.
See you next year!