How Does Parade Generate ROI for Freight Brokers?
Parade customers and statistics generated by their systems show that Parade offers ROI, but how?
How Does Parade Offer Return on Investment?
The right capacity management software should not only pay for itself over time; it should also improve efficiency and help boost level of service. Parade gives brokers several opportunities to generate returns and improve operations, save time, help reps build carrier relationships, and double back to ensure that money isn’t being left on the table.
Digital Quotes and Bookings Save Money and Improve Margins
Digital quotes and digital bookings (that’s Book Now loads in the Parade world) offer brokers a faster, simpler way to reach out to carriers for quotes, receive them, organize them, and even allow carriers to book a load digitally with little to no human intervention.
With careful, competitive pricing, Book Now loads can generate a return through both improved load margins and time saved. Digital quoting allows brokers to receive more quotes faster, organizing them so that the carriers who are the best fit for the load and quoted competitively show first, once again generating higher load margins and saving time.
Because it takes less time to receive digital quotes and get loads booked digitally, broker reps have more time to spend on other revenue-generating activities.
Parade Reduces Onboarding Costs
Our capacity management solution makes it quick and easy for reps to reuse carriers and help reduce the number of carriers in a broker’s carrier pool. It can also help them improve the percentage of carriers who are hauling multiple loads. Improving the percentage of multiple-load carriers comes with other positive effects, as well.
When brokers don’t have to bring in as many new carriers, they can save time and money on onboarding. Through Parade’s partnerships with RMIS, brokers can save even more time as the system can use integrations into those programs to show if a carrier is qualified directly in Parade.
Streamlined Processes Equate to Time and Money Saved
Parade streamlines many of the processes that the average freight broker uses. For example, carrier outreach can be automated through the Parade system, sending the loads carriers want to see where ever they usually look for loads.
When tasks can be carried out faster, easier, and with less margin for error, it’s a huge opportunity to both save money and generate more revenue. Broker reps can get more done in the same amount of time, allowing brokerages to scale their operations, leaving more room to take on new customers without the capital outlay of hiring more staff before revenues from those new customers are coming in.
Better Carrier Relationships Mean More Loads Covered and Higher Load Margins
The average broker rep’s day is jam-packed with tasks that need doing, loads that need covering, and myriad details to attend to. When you take some of that off their plates through automated processes, they have more time to actually talk to their counterparts at the carriers they work with.
Having more time to talk to those carrier reps means they can get an even better idea of that carrier’s preferences and input it into the Parade system in the form of Smart Rules. It also gives them time to build more personal connections.
Stronger relationships can lead to more carrier reuse, better service from carriers, better rates from carriers who start taking more loads for a broker, and a willingness to do each other favors (like cover a load at a rate that’s just below market value) that’s mutually beneficial.
Parade Offers Tools to Ensure Brokers Don’t Miss Opportunities
With Parade’s reporting tools, brokers can look back and see loads where they didn’t take the best quote that was offered so they can see if they’re leaving money on the table. The system also enables reps to leave a note explaining why the lowest quote wasn’t used, which is great since rates are important, but relationships and level of service sometimes need to trump them.
Interested in learning more about how Parade can help your brokerage generate more revenue, save money, and therefore offer a return? Reach out to our team to get a demo.