CHICAGO — Echo Global Logistics, a provider of technology-enabled transportation and supply chain management services, is adding automated carrier negotiations to EchoDrive, its online carrier platform.
With this new feature, carriers can submit a bid on available loads and receive an instant notification of acceptance or counteroffer, accelerating the bidding process and streamlining the booking of available freight, a news release stated.
“Echo continues to pursue innovative transportation technology with our automated carrier negotiation system,” said Dave Menzel, president and chief operating officer at Echo. “This new process, combined with our advanced load-matching algorithm, allows carriers to now find available freight and book it in an automated manner within seconds, eliminating inefficiencies associated with the time carriers spend gaining access to freight.”
Echo’s automated negotiation capabilities allow dispatchers to locate available shipments they’re interested in and book digitally — even if the listed Book Now price isn’t a good fit, according to the news release.
The platform’s algorithm determines if a bid is within the threshold Echo is willing to accept and, once the carrier bid has been input, they receive a rapid, automated response either accepting, counteroffering or rejecting the bid. This new feature functions via EchoDrive, Echo’s web portal, which gives carriers real-time access to search, view and bid on available loads.
“We’re excited to offer automated negotiation capabilities that give our carriers real-time feedback on the rates they’ve submitted,” said Jay Gustafson, executive vice president of brokerage operations. “This new negotiation process simplifies transportation management for EchoDrive carriers by providing a seamless booking experience, powered by our behind-the-scenes algorithmic intelligence.”
Echo Global Logistics now has an automated carrier negotiation feature for its online platform EchoDrive.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.