Flexport announces the expansion of Convoy platform

Flexport, a leading global logistics technology provider, has announced the expansion of its Convoy platform designed for brokers. This advancement offers brokers effortless access to a wide network of reliable carriers across the nation, simplifying freight execution and reducing operational costs for both brokers and carriers, according to an official release by Flexport.

The Convoy platform, fueled by AI, serves as a marketplace that consolidates a substantial and reliable group of carrier owner-operators onto a unified platform. With automated end-to-end load management, brokers gain access to a unique pool of highly adaptable capacity, operational 24/7, and offering extensive tracking visibility. Brokers utilise the platform to enhance the efficiency of their carrier operations teams, automating tasks such as negotiation, vetting, status updates, document management, and payment processing. This results in a significant reduction, up to 90%, in carrier procurement and load management costs, while simultaneously expanding and diversifying load coverage across the nation.

Moreover, the Convoy platform assists brokers in monitoring carrier risk and mitigating potential issues such as fraud, theft, and unsafe behaviour by leveraging machine learning models rooted in proprietary forensic data. This empowers brokers to grow their network while proactively minimising associated risks, mentions the release.

"The U.S. trucking market has undergone a massive transformation since the pandemic. Technology has empowered a new wave of small carriers who manage their business through their phone. We see a tremendous opportunity to connect that capacity to brokers, simplifying operations and lowering costs, while expanding opportunities for small carriers," says Bill Driegert, Flexport EVP and Head of Trucking. "With today's launch, brokers using the Convoy platform will be able to level up their operations and focus on strengthening core customer relationships and growing their businesses. At Flexport, we believe that technology plays a crucial role in empowering the entire trucking ecosystem; carriers, brokers, and shippers need new solutions to adapt and thrive in an ever-changing market."

The launch brings efficiency to the long tail of the trucking market and addresses a common pain point for brokers looking to efficiently partner with the massive pool of small carriers, who have shifted to app-centric operations and load management. The U.S. trucking market is made up of nearly 30,000 brokers and more than 750,000 carriers, with 96% operating with fewer than 10 trucks. The Convoy platform helps owner-operators run more efficiently, enabling them to effortlessly book and manage freight and keep their trucks moving, the release added.

"The Convoy platform is leveling the playing field for all – the technology has transformed our operations and made us as digital as any other company in our industry," says Eric Schnirel, CEO of Great Lakes Transport. "By leveraging the platform's expansive carrier network and digital solutions, we're poised for exponential growth while maintaining the service excellence that defines us."