What is Advantage and How Does It Work?
Advantage is a smart pricing tool that is personalized for your unique brokerage and capacity networks. Its AI pricing engine uses deep data about your carrier relationships such as carrier re-use, search activity, quotes, and digital bookings in combination with DAT’s leading market price index to accurately predict your ability to cover freight for less than the market. In other words, it shows your buying power.
To quote a load in Advantage, just enter your lane and load details to see how your personalized carrier price compares to DAT. Use the built-in calculator to edit any assumptions, adjust your markup, and arrive at a competitive bid in seconds. For additional confidence, you can see your price history compared to DAT, the capacity you have currently available on this lane, and your complete load history from your TMS.
Your business is unique, and the best market average may not fit you and your carrier network. On top of variance in capacity Advantage, all loads are different in ways that have a big impact on price. Advantage handles special equipment requirements like hotshot flatbeds, RGN, or partial loads, accessorials such as tarps and chains, and special characteristics of the load like a commodity, hazmat certification, or team driver requirements.
Advantage Helps Brokers Grow Their Business Strategically
When brokerages use a split model with a separate sales department to find freight and a carrier sales team to cover that freight, there can often be a disconnect between the in-depth capacity knowledge of the carrier sales team versus the account executive who manages customer relationships and bids on freight. By bringing insights and data from carrier relationships into the hands of the reps who are finding new business, Advantage bridges the gap between these two teams and strengthens both carrier and customer relationships. Driving more business to lanes with strong capacity networks increases carrier re-use. Competitive bidding enables brokers to establish relationships with new shippers, and the reliability guaranteed by knowing what trucks are on hand before quoting helps sustain them. Reporting helps managers identify the best lanes where brokers have Advantage and excess capacity so they can find new opportunities for profitable growth and focus sales teams’ efforts most efficiently.
Ultimately, Advantage drives higher win rates and increased profits for brokers. On lanes where they have Advantage, brokers can confidently bid below market rate while maintaining or increasing their margins.
How can I sign up?
Parade’s Advantage tool is included with their new Capacity Management Plus product subscription. You can catch a live demo of Capacity Management Plus on November 10, 2022. Register here today to reserve your spot.
Interested in learning more about this new product? Reach out to our sales team with any questions you may have or to get a demo.