Even as capacity has remained loose in the trucking industry because of COVID-19, Schneider (NYSE: SNDR) has been busy building solutions for when times change. The latest lever in that machine is FreightPower, a technology solution to help shippers unlock more capacity.
"We operate one of the largest North American freight networks, with over 12,000 trucks and 35,000 trailers," Erin Van Zeeland, group senior vice president of Schneider Logistics Services, said. "In addition to our vast equipment assets, we have relationships with more than 34,000 carriers, all ready to carry customer loads each and every day."
Schneider said FreightPower will give shippers access to more capacity and do so with more flexibility. Van Zeeland said it also benefits drivers who will have access to loads not previously available to them. The company said that its large network means shippers will hear the answer "yes" more often when trying to book a load.
The company told FreightWaves the offering is available for shippers moving truckload, less-than-truckload and intermodal freight.
"Currently, we are focused on delivering increased truckload capacity to our shippers and plan to share additional services and capability throughout 2020," the spokesperson said.
More freight capacity
Schneider believes shippers will benefit from its access to network capacity, especially as capacity tightens during the approaching economic recovery.
"This is a competitive offering for Schneider in the marketplace that allows us to serve more of our customers' freight," the spokesperson said. "Shippers want flexible capacity, and by leveraging the benefits of both our asset and non-asset offerings, we are putting more capacity at their fingertips."
Schneider's reach, the spokesperson mentioned, benefits shippers when dealing with "hard-to-service markets." FreightPower utilizes Schneider's advanced analytics to assist shippers in network design to improve overall efficiency.
"Today's shippers will have the advantage of Schneider's advanced analytics to optimize their supply chain – seeing more of their freight serviced at a better price," the spokesperson said, noting that "more on access to analytics and reporting will be available in the future."
Also available as part of FreightPower is on-demand, box-on-site storage options.
Schneider innovation continues
Always an innovator on the technology front, Schneider has been particularly active in 2020. In April, the company made several significant announcements – adding payment processing capabilities from TriumphPay and business automation tools from Transflo to its brokerage platform, and the inclusion of freight visibility tools from Overhaul.
According to Schneider, the pairing of Transflo with TriumphPay will cut the payment process from as much as 40 days to as little as two. Carriers using Transflo are able to quickly scan documents to confirm load completion and submit those documents within seconds. The carrier can then select its payment terms, including QuickPay, via TriumphPay. Carriers can choose how they get paid on an individual transaction basis and TriumphPay provides carriers full visibility into the payment status for each of the shippers with whom they are working.
The collaboration with Overhaul enables real-time shipment tracking for Schneider's brokerage division.
In 2019, Schneider teamed with Truckstop.com to pilot Truckstop's Book It Now technology. "Book It Now," allows freight brokerages to post, assign and tender loads directly to approved carriers. The carrier can see the rate before clicking on it and win it without sending an email, making a telephone call or undergoing a negotiation.
Schneider landed at the number 16 spot on FreightWaves' FreightTech 25 list of innovative and disruptive companies in the FreightTech space. The FreightTech 25 was announced at FreightWaves LIVE Chicago in November 2019. The full list is available here.
Click for more FreightWaves articles by Brian Straight.
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