Future of Supply Chain: Tech Round Up (Part 2)
We are back with our Part 2 of the Tech Round-Up from the Freight Waves - Future of Supply Chain Conference. There were so many cool things to cover that it wouldn’t fit into one post. So without further ado, here are the transportation management systems (TMS), freight matching/load board platforms and the finance options that were at the conference. If you haven’t read part 1 already, you can check it out here.
Transportation Management Systems (TMS)
Revenova
Revenova is a comprehensive TMS designed for freight brokers, shippers, carriers, and fleet operators. Built on the Salesforce platform, Revenova offers an integration with Salesforce's CRM and other business applications, providing a secure, and scalable cloud solution. Features include real-time market condition analysis, AI-powered predictive analytics, automated billing, and load tracking, as well as dynamic trip planning and driver management. Additionally, Revenova supports multi-currency transactions, international compliance, and personalized user interfaces to accommodate global operations.
Pros:
integration with Salesforce, provides access to a wide variety of business applications and service providers
Easy collaboration with real-time communication tools and portals for customers, carriers, and partners
Cons
Potentially high cost associated with Salesforce integration and usage
Complexity in implementation and customization may require significant initial setup and training
Tai Software
Tai is a TMS designed to streamline logistics operations for freight brokers and third-party logistics (3PL) companies. It offers features for managing full truckload and LTL shipments, automating processes including quoting, booking, dispatching, invoicing, and carrier management. The system integrates with various tools and platforms, enhancing operational efficiency and scalability.
Pros:
Clear pricing on the website
Energetic and responsive sales team and comprehensive training
UX is pretty intuitive
Cons
Pricing is a bit more expensive than other TMS options
IT support needs work based on reviews
Turvo
Turvo is a collaborative TMS that offers real-time visibility, automation, and advanced analytics for logistics operations. It integrates various operations from shippers, brokers, and carriers into a single cloud-based platform, enabling seamless communication and data sharing. Key features include real-time shipment tracking, automated workflows, and predictive analytics, which may help reduce operational costs.
Pros:
Excellent collaboration tools
Cloud-based infrastructure allows for scalability and remote management without significant upfront investment.
Cons:
There maybe a steep learning curve for people new to the platform
Limited customizations at this time
Unisys
Unisys provides digital workplace solutions, cloud and infrastructure services, enterprise computing, business process outsourcing, and cybersecurity services to many different industries, including logistics. Unisys focuses on advanced analytics, AI, machine learning, and quantum computing, aiming to optimize operations, improve security, and encourage innovation.
Pros:
Unisys Logistics Optimization™ seems interesting however needs more clarity on the website
Serve a lot of industries could have additional insights that are beneficial to logistics
Cons:
Serve a lot of industries could cause them to be unfocused on logistics industry
no pricing on their website, not even a mention, may be cost prohibitive for smaller businesses
Load Boards
Truckstop
Truckstop offers a comprehensive load board and freight management solution to facilitate freight matching for carriers, brokers, and shippers. Key features include a detailed route planner, real-time load tracking, and robust tools for rate analysis and negotiation. The platform supports both mobile and web-based access for on-the-go use. Additional tools like a fuel finder and weather forecasts help in planning shipments effectively.
Pros:
Wide variety of loads and vetted brokers
User-friendly interface and mobile access
Excellent social media and engaged customer service teams
Extremely reasonable pricing
Cons:
Outages happen from time to time
Seems to be inaccessible from overseas without a VPN
Trucker Tools
Trucker Tools is a carrier-forward digital freight matching platform with tools designed to streamline interactions between carriers and brokers. Their load board includes a "Book It Now" functionality, as well as predictive freight matching to connect brokers with suitable carriers more efficiently. The platform integrates with Electronic Logging Devices (ELDs) to provide real-time visibility of trucks. Trucker Tools also includes automated workflows and an intuitive interface that aims to simplify load management and booking.
Pros:
Free to use for carriers, currently +350K unique MCs on the platform
ELD integration
Immediate booking available
Cons:
Some users may find the initial setup and integration with other systems complex
Less tech savvy users may find issues with the app's ease of use and navigation
Financial Tools
Epay Manager
Epay Manager is a web-based platform for automating back-office and carrier payment processes for logistics companies. It offers features such as audit-proof invoicing, real-time data accuracy, and full transaction transparency. The platform enables electronic invoicing, document imaging, direct deposit payments, and integration with existing systems, which helps improve efficiency and accuracy while reducing costs and manual workload.
Pros:
Helps to reduce manual tasks and improve accuracy
Excellent customer support
Cons:
UX is a little dated and congested
No pricing on the website
Fixefy
Fixefy uses AI and automation to streamline supply chain reconciliations and cost visibility. Fixefy digitizes contracts, price lists, service level agreements, and raw operational data to reduce transactional costs, eliminate duplications, and capture missing charges. They take raw data not being used effectively and make it useful.
Pros:
Offers a free trail
Multiple pricing options, but actual cost not listed on website
Cons:
Website is beautiful but is not super clear on their value add
Leadership needs diversity
Triumph Pay
TriumphPay is a payment platform for the transportation industry, streamlining the presentment, settlement, and payment processes for brokers, carriers, shippers, and factors. It automates repetitive and manual tasks. Their solutions help manage invoices, payments, and offer visibility into transportation spend. TriumphPay facilitates connections across the transportation payment network,
Pros:
Integrations with many TMS companies
Services carriers, brokers, and shippers
Cons
No pricing clarity on the website, suggests could be cost prohibitive for some companies
Implementing and integrating the platform can be complex and time-consuming
The Future of Supply Chain event showcased a range of innovative technologies that can significantly enhance logistics and shipping operations. The advancements every year in the industry seem to be getting better and better. Supply chain management requires a combination of technology and people, so take your employees and culture into consideration when shopping for the best platforms for your business. For more detailed information, refer to the provided links. And remember to check out part one of this series here.
Paperwork is the least fun thing about supply chain but these documents play important roles in the movement of goods. Understanding the documents and how to effectively use them can help save time and money of the many companies involved in the supply chain.
