How does Parade work?
Maybe you’re just learning about capacity management and you’re curious about how Parade gets the job done. Maybe you’re already sold and searching for the perfect solution to complement your current processes. Here, you’ll find a run-down of how Parade works and some facts about the system to help answer any questions you may have about our capacity management software.
Match, Notify, Book
It all starts with signals. To start the matching process, Parade captures freight signals that are used to find available carrier capacity. At the same time, loads are being input. Then, the system uses freight data and what it has learned from those freight signals to find carriers who are likely to be able to cover a load.
Matches are determined based on the latest carrier profiles, which are constantly updated by the system itself.
Once the system has found the best carriers to get the load covered, it takes multiple actions:
1. It automatically sends emails to the top carrier candidates.
2. It sends the load to both public and private load boards.
3. It provides carrier reps with a ranked list of good potential carriers for the load.
Carriers who either receive an email or see the load on a load board and decide it might work for them can then either send a quote or, if they’re already in the broker’s carrier network, start the Book Now process. Brokerage representatives can reach out to the recommended carriers personally for quotes or with questions, as well, if that’s what their process dictates or they’re really in a hurry to get the load covered.
Parade Layers Over Your TMS
Not only does it layer over your TMS, but it also follows the workflows you already have in place so that your team can keep grinding with little to no interruption. Carrier onboarding systems can also be integrated so that lane preferences and other onboarding information go straight into the system to help drive better load matching.
It Gets Smarter
When you use Parade, it gets smarter over time. Machine learning and AI soak in data from several sources, including your TMS, emails with carriers, and manually input carrier profile information. The system collects and organizes data to better match freight and drive smarter decision-making.
Over time, it will know not only when your carrier network has capacity, but what types of equipment they have available, what types of loads work best for them, and what types of communication they respond best to.
Every time a carrier is engaged, whether by the system or by brokerage reps, the system is learning. For carriers that prefer to do business and handle negotiations by phone, reps can enter the information they’ve learned into carrier profiles so that the system is always working with the most up-to-date information.
It Helps Brokers Build Carrier Relationships
Imagine this amazing carrier booked one of your loads. They were easy to work with, priced well, and they provided great service to your customer. You’d love to work with them again any time they’ve got capacity where you need it. However, they kind of get lost in the system, so the next time a similar load pops up, some random carrier on a load board snags it and you must spend time onboarding yet again.
Now, imagine that your system knew what type of freight that carrier was looking for and when they’d have trucks free to haul said freight. When the next load they could cover came across, the system would email them to let them know it’s available, potentially even connecting them to the load early enough to pre-book and keep you from paying spot market rates. You could potentially consistently engage the super-star carrier who does a phenomenal job servicing that particular lane or even just that particular shipper.
It’s a win-win. You can re-use a stellar carrier who provides excellent service to your shippers. They get consistent business with a broker who is easy to work with, even allowing them to digitally book and save time on both ends. The nature of the relationship may allow them to offer you better rates, helping you save your shippers’ money. The benefits of these relationships are cyclical in this way.
Goals Customers Reach by Implementing Parade’s Capacity Management Solution
While every organization that decides to roll out Parade has its own reasons for doing so, many of our customers have similar goals, and we’ve found that these standards are more than achievable for most brokerages.
· 25% increase in carriers doing 4+ loads per month
· 10%+ of loads booked digitally each month
· 15% increase in number of loads per person per month
Interested in learning more? Reach out to our team here to ask any questions you may have and find out how Parade can benefit your organization.