Loadsmart Leverages Real-Time Data to Provide Best Carrier Rates to Shippers
Loadsmart, a New York-based technology company, specializes in automating the truckload booking process for Fortune 100 shippers. By pairing instant pricing and one-click booking with guaranteed capacity, Loadsmart is fundamentally changing the way the trucking industry operates.
For enterprise shippers, the company provides its services by integrating directly with the customer’s transportation management system (TMS). Using Loadsmart, customers can then get instant access to the best possible rate for their shipment, while carriers benefit from demand aggregated across Loadsmart’s network of shippers.
Data shows that trucking moves 71% of all the freight in North America, yet, the trucking industry has been slow to digitize its processes to unlock operational efficiencies. Automating the communication between all the different parties (shippers, carriers, brokers, financial institutions, etc.) has been a daunting task for the industry for several decades.
Today, trading partners are still exchanging business documents such as bookings, booking confirmations, appointment confirmations, shipment status updates, and invoices, using EDI standards such as ANSI X12 and EDIFACT. The carriers and shippers that use the Loadsmart platform are utilizing different EDI formats and systems, and they want to continue to leverage these.
Complicating matters further, each participant uses EDI formats differently. There are as many different EDI ‘dialects’ as there are shippers and carriers. Additionally, the EDI messages are typically transferred over a variety of transport protocols including (but not limited to) AS2, SFTP, FTP, and VAN networks.
Loadsmart needed to cope with the following challenges to receive and transmit real-time data from its shipper and carrier customers.
- A wide variety of different systems and applications using traditional business process adopted by the industry
- Different EDI ‘dialects’
- Different transport protocols
- Interoperability with its customers’ standing processes
The question was whether the company would utilize its internal development resources or leverage a partner to create the necessary connectivity for communications.
In partnering with Youredi, Loadsmart found it could better focus its internal engineering teams on the development of its core services, while Youredi took care of the complex communications required to connect customer systems with the Loadsmart platform.
To establish and maintain EDI connectivity with the shippers and carriers, Loadsmart decided to use Youredi’s iPaaS (Integration Platform as a Service). Youredi can create and secure connectivity to both modern API-based applications Loadsmart is developing, and traditional EDI solutions that the shippers and carriers use – regardless of versions, data formats, or transfer protocols that the partners are using.
Since the beginning of the strategic partnership between Loadsmart and Youredi, Youredi has been providing the technology platform for managing and operating the connections between Loadsmart and the various large shippers and carriers. In addition to this, Youredi is providing specialized Professional Services resources to develop, onboard, and support the connections built between Loadsmart and its shipper and carrier partners. As Youredi is providing a turnkey service, Loadsmart can entirely focus on the development of the key capabilities that differentiate the company from the other players in the industry.
As an organization that is exchanging information with customers that have varying needs, Loadsmart is in a situation where all the possible message exchange channels need to be well served.
“For large shippers, the quality of the service we provide is top priority.” Bosco Filho, Loadsmart’s CTO, explained. “We must be able to act quickly, according to shipper demand, and we need to keep the shippers informed about everything that is happening with their shipment. Because of this, reliable, quick and flexible EDI connectivity is a must for our organization.
As we are continuously developing our solution based on our customers’ needs, our technology platform and the interfaces it provides are also constantly changing. Working with Youredi, we know that inevitable API updates will not affect our customers and partners, as we can coordinate the changes together. This frees us to focus on the thing we are best in – providing the best possible technology to our customers.”
Loadsmart is a digital freight broker that specializes in full truckload shipping. Loadsmart is leveraging data and machine learning to build artificial intelligence processes into the complex freight brokerage cycle, allowing shippers to book a truckload in seconds and providing instant and targeted loads to carriers. For more information visit https://www.loadsmart.com