carrier compliance

Load boards are broken — fixing them is critical

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Ghost loads. Bait-and-switch posts with inaccurate origin and destination information. Double...

https://www.freightwaves.com/news/load-boards-are-broken-fixing-them-is-critical

LogRock aims to help truck fleets stay off FMCSA’s radar

Trucking compliance software provider LogRock announced it has closed an additional $2 million seed round led by Better Tomorrow Ventures with participation from previous investor Dynamo Ventures, which led the company’s initial $3.5 million seed funding in May.

LogRock co-founder and CEO Hunter Yaw told FreightWaves carrier compliance has not always been the “sexiest” transportation topic to discuss but is a necessary one.

“If you look at trucking from the outside, you would think the most...

https://www.freightwaves.com/news/logrock-aims-to-help-truck-fleets-stay-off-fmcsas-radar

LogRock CEO: What is compliance costing you today?

When calculating the return on investment of compliance programs, trucking companies often look at the colossal costs that could be incurred after safety protocol has been violated. These costs include nuclear verdicts, insurance hikes from those violations and other repercussions.

In an interview with FreightWaves, Hunter Yaw, co-founder and CEO of trucking compliance software provider LogRock, explained the importance of the framework that compliance costs are presented to trucking company...

https://www.freightwaves.com/news/logrock-ceo-what-is-compliance-costing-you-today

LogRock raises $3.5M to automate carriers’ biggest risk — compliance

Trucking compliance solutions startup LogRock announced Thursday it has raised $3.5 million in seed funding led by Dynamo Ventures with participation from QED and 9Yards Capital to continue growing its team and platform to automate carriers’ compliance processes.

“Ensuring companies stay compliant certainly isn’t the sexiest venture, but in the trucking industry, it’s one of the most important aspects to get right,” said Jon Bradford, managing partner of Dynamo Ventures. “At Dynamo, we get...

https://www.freightwaves.com/news/logrock-raises-35m-to-automate-carriers-biggest-risk-compliance

Truckload rate inflation suggests that service was extremely undervalued by shippers

Chart of the Week: Van Contract Initial report average base rate per mile, Van Outbound Tender Rejection Index – USA  SONAR: VCRPM1.USA, VOTRI.USA

Contract rates for dry van truckload have increased roughly 25% over the past year, or 59 cents per mile, according to FreightWaves invoice data. In the meantime, carrier compliance rates for accepting electronic requests for capacity have only improved to 81.9% from 78.5%, according to FreightWaves tender data — basically simple cost inflation for...

https://www.freightwaves.com/news/truckload-rate-inflation-suggests-that-service-was-extremely-undervalued-by-shippers

Truckload rate increases have done little to improve carrier reliability

Chart of the Week: Outbound Tender Rejection Index, Van Contract initial reporting average base rate per mile – USA  SONAR: OTRI.USA, VCRPM1.USA

The national Outbound Tender Rejection Index (OTRI) that measures the percentage of electronic requests for truckload capacity from shippers that carriers rejected pushed back over 22% over the Christmas holiday period, despite the fact that contract rates have increased approximately 17% over last year. Simply put, these rejections cost a lot more than...

https://www.freightwaves.com/news/truckload-rate-increases-have-done-little-to-improve-carrier-reliability

Trucking contract rates finally gain traction in October

Chart of the Week: Outbound Tender Rejection Rate, Van Contract Rate Per Mile Initial Report – USA SONAR: OTRI.USA, VCRPM1.USA 

The national Outbound Tender Rejection Index (OTRI), which measures carrier compliance for contracted moves, fell below 20% for the first time since July 31, 2020, this past week. This is somewhat unexpected considering trucking demand remains at all-time highs. Are contract increases gaining traction? 

It has been hard to isolate the impact of contract rate increases on...

https://www.freightwaves.com/news/trucking-contract-rates-finally-gain-traction-in-october

Are increasing lead times improving carrier compliance?

Chart of the Week: Outbound Tender Lead Time – USA  SONAR: OTLT.USA

Shipper lead times (the time between request date and pickup date) have increased 5.25% versus last summer as tender rejection rates (the rate at which carriers reject load requests) have averaged 5 percentage points higher — 22% versus 17%. This is counterintuitive, but the real question is what would the rejection rate be if lead times remained the same?

Tender lead time (OTLT) is the time between a shipper’s request for a...

https://www.freightwaves.com/news/are-increasing-lead-times-improving-carrier-compliance

Truckstop.com acquires carrier compliance firm RMIS

Online load board and digital freight marketplace Truckstop.com announced Monday the acquisition of RMIS, the Westlake Village, California-based carrier compliance automator.

RMIS’ capabilities — the most important of which is fulfilling 98% of freight brokers’ requests for carrier certificates of insurance within 60 seconds — will augment SaferWatch, a similar carrier onboarding solution acquired by Truckstop in 2018.

“There are two primary reasons why we did the deal and why we’re excited about...

https://s29755.pcdn.co/news/truckstop-com-acquires-carrier-compliance-firm-rmis

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