Michael Murphy, CTOBoth spot shipping and contract shipping offer shippers a different value proposition. While a contract provides a yearlong commitment to price and capacity, spot shipping is necessary for an unexpected or impromptu need to move the freight. In the latter context, a contract price has yet to be negotiated with the carrier through freight spot bidding. As spot rates are driven by the law of supply and demand or geographical and economical factors, figuring out the lowest cost option to move the freight whether capacity is loose or tight is often challenging. Answering phone calls to negotiate and haggle over the price is a rudimentary and unproductive process as well. Post.Bid.Ship, a tech company based in sunny Scottsdale, AZ, has developed a brilliant and powerful solution for pricing and coordinating spot shipments, hassle free.
Post.Bid.Ship is a solution augmentation to clients’ existing Transportation Management Systems (TMS). “Our platform solves the manual effort behind bidding and makes spot shipments hassle free,” mentions Sam Levin, CEO at the company. While carriers can bid on the platform and offer their shipping services, customers can respond to the price in a reverse auction. As the bidding process is completely transparent, service providers are led to the current market price. Customers can choose to automatically tender the shipment to the lowest bidder, or the customer can tender shipments after a review by one of their load planners. The platform allows the first trusted carrier to bid the target price and end the auction. In that case, shipment will be tendered to the same carrier through the TMS. There can be instances when the auction ends without hitting the target price. Should that happen, Post.Bid.Ship awards the shipment to the lowest bidding service provider within a variance that the customer chooses. If the client doesn’t set a target price, or if no one bids within the preset variance, Post.Bid.Ship can notify a manager to approve or reject the bids submitted by carriers.
What makes the platform even more unique is its market intelligence capability. The platform shows the current market trends and enables shippers to make better business decisions while choosing the right time to buy.
Our platforms basically solves the manual effort behind bidding and makes spot shipments hassle free
“As the shipping industry is volatile, our real-time data gives the shipper the power to strategize their freight transportation cost effectively in times of varying capacity,” says Levin. The platform comes with a unique pricing model. Post.Bid.Ship doesn’t charge per transaction occurring in the platform but rather it utilizes a subscription-based business model. Post. Bid.Ship’s solution has earned the highly coveted “Oracle Validated Integration” title with its integration with Oracle Transportation Management (OTM). “We are the only independent software company working in the spot market that connects to Oracle,” mentions Michael Murphy, CTO at the company.
Post.Bid.Ship’s practicality can be better understood by a recent customer success story. One of their clients—a California-based shipper—had been overpaying for transporting its freight. The client deployed Post.Bid.Ship’s spot market freight auction technology, and subsequently started to communicate to a larger segment of carriers. It also afforded the client the ability to execute the process of bidding and negotiating on cost of transportation with less human effort. After using Post.Bid. Ship’s platform, the client reported saving five percent on its freight costs and achieved a positive return on its investment in Post.Bid.Ship in just four days.
Citing the company’s future Levin says, “We are planning to venture into international freight transportation.” The company aims to bring more transparency through automation in this sector. With many compelling accounts of recognitions and awards under its sleeve, Post.Bid. Ship is transforming the spot market bidding space through its innovation.