FreightTech Round-Up: 9 Solutions Changing the Game
It’s an exciting, transformative period for the global supply chain. After several years of disruptions from the pandemic, high-stakes labor challenges, and unstable global trade, supply chain innovators are looking to future-focused solutions that can help logistics professionals not just survive, but thrive in this complex environment. In this article, we explore nine FreightTech solutions (in no particular order) that are making a significant impact in 2024.
1. Axle: Streamlining Back-Office Operations with AI
Axle Technologies is modernizing the logistics industry by leveraging artificial intelligence to streamline time-consuming back-office operations. Their universal data platform simplifies access to logistics data, enabling companies to optimize deliveries, reduce fuel costs, and enhance the sustainability and profitability of trucking. Axle embraces diversity, collaboration, and the 80-20 rule, understanding that customer feedback is essential for innovation. By wrangling diverse data sources into a universal schema, Axle is building the transportation infrastructure of tomorrow, making the industry more efficient and resilient.
2. EAIGLE: Enhancing Visibility with AI
EAIGLE uses AI to provide unprecedented visibility into operations at gates and yards. Their end-to-end AI platform works with existing or third-party hardware, including optical and infrared cameras and radar sensors. This hardware-agnostic approach ensures superior accuracy, eliminating false positives and helping businesses identify inefficiencies and breaches. EAIGLE partners with technology giants like Bosch, Nvidia, Axis Communications, and Autodesk to deliver comprehensive solutions that address security, transportation, and operational challenges, making supply chain management more robust and reliable.
3. RateLinx: Cloud-Based TMS Offers Holistic Approach
RateLinx provides end-to-end, data-driven supply chain visibility and optimization through its comprehensive, cloud-based ShipLinx platform. This Gartner Top Transportation Management System is fully scalable and enables shippers to plan and execute shipments in any direction, mix, or freight spend with ease. The system integrates data from various sources into any ERP, WMS, WES, OMS, or home-grown system, and provides visibility and robust analytics that empower shippers to make informed, real-time decisions that help reduce costs and improve efficiency. RateLinx also provides affordable, enterprise-quality freight auditing and payment for any freight spend, resolving invoice issues 92 times faster with 100% accuracy.
4. TrueNorth: Financial Insights for Owner-Operators
TrueNorth brings financial visibility and insights to owner-operators, offering tools traditionally accessible only to large carriers. Their platform allows carriers to book better loads, get paid faster, and track profits with ease. TrueNorth partners with top-tier brokers to offer over 100,000 daily loads and uses AI to provide the best load suggestions based on user preferences and history. The main features include document management, factoring and invoicing, and financial insights, which help carriers make informed decisions. TrueNorth boasts a 90% success rate for new carriers who use their platform, significantly higher than the industry average.
5. Highway: Combating Fraud & Enhancing Carrier Transparency
Highway is tackling the pervasive issue of fraud in the logistics industry by providing crystal-clear insights into carrier identities. The platform helps find the right carrier for every load, using public and private data sources to warn of negative indicators. Highway’s onboarding process validates rightful ownership and detects dispatch services, building secure and speedy carrier networks. Their automated compliance framework reduces exposure to risk, ensuring real-time enforcement of carrier requirements. By providing a transparent view of who is hauling freight, Highway enhances trust and efficiency in the supply chain.
6. EasyPost: The Simple Shipping API
EasyPost’s flexible, scalable shipping API simplifies integration with over 100 carriers, including UPS, FedEx, DHL, and USPS. With 99.99% uptime, the API allows businesses to create shipping labels, track packages, verify addresses, and manage customs documentation for international shipping. It provides comprehensive tracking, reporting tools, and shipping insurance options. Designed for easy integration with e-commerce, order management, and warehouse systems, EasyPost is developer-friendly with detailed documentation and support. Its scalable solutions cater to businesses of all sizes, streamlining the shipping process and enhancing efficiency and cost-effectiveness.
7. Test Drive: The Anti-Broker Solution
Test Drive, known as the “anti-broker,” is un-siloing carriers and shippers to create unparalleled transparency in trucking procurement. It empowers shippers to build direct, profitable, and long-term carrier relationships, bypassing the traditional broker model that often lacks transparency and drives up costs. Test Drive helps companies save money and time by connecting them with reliable trucking partners, offering strategic procurement rather than reactionary solutions. Their values of complete transparency, open communication, and full accountability have saved customers tens of millions in shipping expenses and increased profits for asset fleets.
8. U.S. Bank Freight Payment: Freight Audit & Payment Made Easy
A pioneer in electronic freight payment, U.S. Bank Freight Payment offers a comprehensive solution to enhance financial visibility, accountability, and planning across freight audit and payment processes. It provides actionable intelligence through a consultative approach, leveraging robust data analytics to streamline processes from origin to last mile. Collaborative online tools help shippers process, pay, and resolve exceptions quickly, while innovative cash management solutions allow carriers to receive payments faster. The service ensures reliability and security, optimizing freight processes and savings for shippers and carriers alike. Additionally, it manages small parcel shipments to avoid inaccuracies and unnecessary costs.
9. Upwell: Revolutionizing Accounts Receivable
Upwell is transforming the back office by streamlining the accounts receivable process for logistics companies. The AI-powered platform automates collections, improves cash flow, and enhances customer experiences. Key features include smart invoices that reduce manual data entry errors, integrated payments for immediate and secure transactions, exception management for quick resolution of payment issues, and custom reminders that match brand voice and context. Upwell’s real-time integrations with popular TMS, ERP, and accounting platforms ensure seamless connectivity and operational efficiency.
Want to Learn More about the Future of FreightTech? Stay Up to Date with Supply Chain Now
Stay up to date with the latest in FreightTech innovations by following Supply Chain Now. As the logistics industry continues to evolve, these nine solutions are paving the way for a more efficient, transparent, and sustainable future. From AI-driven insights to streamlined financial operations, these technologies are changing the game for supply chain professionals around the world.
To dive deeper into these innovative solutions and stay informed about the future of FreightTech, listen to our #1 supply chain podcast for expert insights and updates. Whether you’re a logistics professional or simply interested in the latest industry trends, our podcast offers the knowledge you need to navigate the evolving landscape of global supply chains.
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