Banyan adds Insight to LTL discounting tool

by Today's Trucking

Banyan Technology is building on its Live Lane Specials used by LTL carriers and shippers, adding a new Insight feature that incorporates data about previous loads and transactions.

Together, they give LTL carriers the details that are needed to immediately adjust specific rates without completely reworking a contract established during a Request for Proposal (RFP) process.

(Photo: Banyan Technology)

Live Lane Specials, on the market for the last year, can be used to offer discounts as a way to fill remaining capacity. Rather than applying those discounts across the board, they can be unique to lanes, customers and time frames.

Insight adds another layer of information to the process, showing the share of a client’s business a carrier actually has, and the margins by which they won or lost previous loads.

Nominal transaction fees are applied when shipments are booked with the service, and data can be pushed into billing systems through web hooks and flat files.

Banyan says it is currently connected to about 50,000 shippers and sites including some of the largest third-party logistics suppliers in North America.

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