Frost & Sullivan recognized Convoy, a digital freight network, as company of the year in a benchmark study covering the nation’s top digital freight providers. Convoy led on industry-first innovation and customer experience and also was recognized for its ability to help shippers improve the resilience of their supply chains and weather market volatility through its digital freight network.
Each year, Frost & Sullivan presents the company of the year award to an organization that demonstrates excellence in terms of innovation and growth in its field. Within the freight industry, growth in the digitization of freight providers has accelerated in recent years, driven by a need to reduce inefficiencies in the shipment lifecycle, improve capacity utilization and ultimately lower transportation costs for shippers.
Based on interviews with shippers from a range of industries, Convoy was commended for its customer service and its ability to anticipate latent industry needs. This includes 100% automation of the truck matching process, an approach to backup freight that provides shippers with instant prices and guaranteed coverage, a nationwide drop-and-hook marketplace that uses smart trailers to improve load visibility, and a partnership model that helps shippers uncover hidden inefficiencies in their supply chain.
“Thanks to technology-intensive brokerages like Convoy, gone are the days when shippers and carriers had to manually broker loads through phone calls and emails, matching some, delaying some, registering empty miles and containers all while paying heavy commissions to brokers,” Silpa Paul, team lead of commercial vehicle research and consulting at Frost & Sullivan, said. “Convoy’s 100% automation saves shippers time and money by finding the highest quality drivers faster, by reducing falloff through automatic truck reassignment.”
According to Frost & Sullivan, the future of freight hinges on achieving greater efficiencies and reducing its carbon footprint and “Convoy’s unique solutions are enabling this greener future for the transportation industry.”
Convoy launched Automated Reloads in 2019 to address the 72M metric tons of CO2 equivalent emissions from empty miles in freight. Machine learning automatically bundles multiple truckload shipments into one job, reducing empty miles and the resulting unnecessary carbon emissions. Additionally, Green Appointment Windows, a new feature in the Convoy shipper platform that was announced in early 2020, offers shippers the ability to book their freight in a flexible appointment window to get access to the best carriers at the best price while simultaneously reducing their carbon emissions. To date, more than 2 million pounds of CO2 have been saved.
“We see the future of freight today, with technology delivering better service and better prices while reducing environmental waste. This is progress,” Dan Lewis, co-founder and CEO of Convoy, said. “As shippers increasingly look for ways to reduce the total cost of transportation, make their supply chain resilient and lower their carbon footprint, Convoy’s digital freight network is becoming an essential third category of freight partner with unique capabilities over asset-based carriers and brokers. We’re honored to be recognized as a leader by Frost & Sullivan and look forward to continuing to innovate on behalf of our shippers and carriers.”
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