The COVID-19 pandemic brought unprecedented uncertainty to the freight market, sending freight rates from some of the lowest levels in recent years to record-high levels in just 18 months. When looking for partners, shippers are seeking those that actively participate in the freight market in addition to providing strong service levels.
Edge Logistics has quickly become one of the leading tech-forward freight brokerages in the nation. As a member of the FreightWaves FreightTech 100, the company uses key technologies across the organization to disrupt the freight industry. The company incorporates many different data sources, including FreightWaves SONAR and FreightWaves TRAC throughout the organization – from its daily active users to key executives.
Edge Logistics was an early adopter of FreightWaves SONAR and its new Market Dashboard, which is powered by FreightWaves Trusted Rate Assessment Consortium (TRAC) spot rates. These FreightWaves technologies have hit home across the organization.
While the impact of FreightWaves TRAC spot rates being added to Edge’s repertoire aren’t directly attributable, company leaders are hearing the FreightWaves SONAR and TRAC terminology seep into daily conversations between brokers. Company executives regularly hear brokers cite SONAR’s Outbound Tender Reject Index (OTRI) and confidence scores associated with FreightWaves TRAC spot rates.
Edge Logistics continues to use FreightWaves SONAR and TRAC data to automate years of tribal knowledge learned within the industry to bring new brokers up to speed and set them up for success. Additionally, SONAR and TRAC provide brokers with the supporting data to use in negotiations as they work to increase the brokerage’s winning percentage.