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FreightWaves acquires StakUp Inc., TCA inGauge’s software platform

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Freightwaves acquires stakup inc., tca ingauge’s software platform

ALEXANDRIA, Va. and CHATTANOOGA, Tenn. — FreightWaves, a data and content source for the freight markets, has acquired StakUp Inc. as part of a multi-faceted partnership with the Truckload Carriers Association that will build on a previously per a data and marketing agreement established in November 2018.

StakUp is the developer of the “inGauge” online benchmarking platform used exclusively by the TCA Profitability Program (TPP) to compare and contrast financial and operational performance. As the exclusive software service provider for TPP, StakUp has built a significant database of carrier and brokerage profiles since its founding in April 2014 by then TCA Chairman Ray Haight and StakUp President Chris Henry.

As of June 1, Henry will have dual roles. He will continue as TPP Program Manager and also serve as FreightWaves’ vice president of carrier profitability. In this role, he will enhance the data and features offered through the FreightWaves SONAR freight intelligence platform, promoting SONAR features specifically for North American truckload carriers. Jack Porter will remain as TPP managing director, and will work closely with Henry to achieve growth targets, enhance group meeting content, and strategic direction.

This new partnership between TCA and FreightWaves further fuels TCA’s membership growth and enhances active participants in the TCA Profitability Program, according to TCA Chairman Josh Kaburick, who said the outlined goal is to increase TPP participants to 2,000 by the end of 2025. In addition to the value of a larger pool of participants, especially for the curation of best practices and new initiatives, TCA and FreightWaves will be emphasizing the importance of increased technological sophistication of member companies.

In addition, FreightWaves and TCA will conduct research to improve the efficiency and profitability of North American trucking companies and their related supply chain partners. Quarterly research objectives will be established to leverage FreightWaves’ growing datasets and its data scientists. TCA’s gvernment affairs team will work closely with FreightWaves staff to establish the research objectives.

Also, the two organizations have developed an incentive program, exclusively for TPP participants, to use the FreightWaves SONAR platform free for six months (limit of one SONAR seat per member, non-API access) that began June 1 and will end November 30. Carriers that join TPP after June 1, will receive access to SONAR beginning on their join date, and ending on November 30, 2019. Current TPP participants are strongly encouraged to activate their trial in order to maximize their evaluation period before the November 30 deadline.

“Having previously established a close working relationship with TCA, this acquisition and partnership was the logical extension to build on each other’s strengths,” said FreightWaves’ Founder and CEO Craig Fuller. “TCA has established the premier benchmarking and knowledge-sharing platform in trucking. Our goal is to add features, services and data to enhance the value for current and future TPP participants. If you are a truckload carrier, this service is a no-brainer.”

“FreightWaves has carved out a unique position in the North American transportation industry as the data and content provider of choice,” said Kaburick, who is CEO of Trekker Group of Companies. “The TCA Profitability Program is an exceptionally valuable service for participating carriers. Just like any other business, it is imperative that TPP stays relevant, and expands its services available to carriers of all sizes.”

 

 

 

 

 

 

 

 

 

 

 

 

 

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The Trucker Newspaper – February 15, 2020 – Digital Edition

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Fleet Focus: ELDs push drivers to find ways to remain ‘productive’

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trucks and cars in traffic
Prior to ELDs, two hours stuck in traffic went down as a half-hour driving and an hour-and-a-half break at the truck stop, or the start time was simply adjusted to show beginning the trip much later. (The Trucker File Photo)

The crescendo has passed, but the symphony of protest against electronic logging devices (ELDs) is far from over. Despite the objections and barring a legislative turnaround of epic proportions, ELDs are here to stay.

Whether the claims of enhanced safety provided by ELDs prove true, and so far they have not, carriers have a vital interest in protection against the “nuclear” verdicts being handed down in courtrooms. With paper logs, they had less control over the driver’s actions. Hours of Service infractions and falsifications that could potentially seal a verdict against the carrier might not be discovered until weeks afterward, when the logs were sent in. And, if the driver was good enough at “creative” logging, those infractions might not be discovered at all.

Full disclosure: during a driving career, the writer may or may not be responsible for years of near-perfect duty status records that may or may not have been routinely (and beautifully) falsified.

For most drivers, and especially owner-operators, it was important to “preserve” as many driving hours as possible in order to be productive (and profitable). So, two hours stuck in traffic went down as a half-hour driving and an hour-and-a-half break at the truck stop, or, the start time was simply adjusted to show beginning the trip much later. Recorded driving hours were calculated by dividing miles traveled by a reasonable “average” speed, usually five or so miles below the posted speed limit — but only when the result was fewer hours than actually spent driving that distance. Daily hours didn’t start until the truck was nearly loaded, foregoing the short drive from the truck stop and hours of waiting.

ELDs have greatly reduced infractions and falsifications, and made it easier for
carriers to identify those that still occur much sooner. Some will say that ELDs can still be falsified, but it’s also easier for both carriers and law enforcement to monitor.

What has happened is that ELDs have brought to the surface something that drivers have known for decades — industry abuse of the driver’s working time has been rampant and mostly ignored. It’s amazing how many carriers suddenly became concerned about driver “productivity” when ELDs made it more difficult for drivers to “hide” non-productive hours. Dispatchers are no longer able to give wink-and-nod direction to “just do the best you can,” trusting
the driver to make the paper logs look right.

With ELDs in place, drivers and owner-operators need to find other ways to remain productive. That action might include becoming much more assertive when it comes to control of those available hours.

Refusing dispatch, for example, is a legal descriptor of being an independent owner or contractor. Drivers should consider more than just miles and compensation rates when a load is offered. For example, loads traveling shorter distances are often less productive, especially when there’s a pickup and a delivery on the same day. The rate per mile offered should be greater than for longer loads.

Potential traffic should be considered, too. A pickup scheduled for 8 a.m. in the center of a large metropolitan area virtually guarantees waiting in traffic congestion, whereas a pickup in a suburb, or in a smaller city, might get the driver in and out much faster.

Customers who routinely take excessive amounts of time to load or unload can and should be avoided. Even if the customer or carrier pays for detention time, the amount is often far less than the driver earns during hours spent driving down the highway.

In a world where compensation is usually calculated by the mile, drivers are often unaware of how their settlements equate to hourly pay. They shouldn’t be. Owners should keep a record of the total time spent on a load as well as compensation received. A load with 10 hours of driving that is loaded in an hour and unloaded in an hour means 12 hours invested. Make it four hours to load and four more to unload, and the time investment becomes 20 hours. Divide the revenue received by the time spent (12 hours or 20) and the resulting earnings per hour may differ greatly. The answer may be good to know the next time that load is offered.

Managing a trucking business, even a one-truck outfit, is often a series of trade-offs. Owners must sometimes accept a not-so-good load to get in position for a better one or to get to needed maintenance (or a visit home). Even so, every load offered should be examined for its productivity potential.

The impact of ELDs on productivity is real. Owners of small trucking businesses can minimize that impact by considering potential productivity on every load offered and by exercising the power of NO when necessary.

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$225 million purchase enables C.H. Robinson to acquire Prime Distribution Services

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CH Robinson acquires Prime from Roadrunner
Roadrunner Transportation Services has sold its subsidiary, Prime Distribution, to C.H. Robinson for $225 million

Late last month, C.H. Robinson Worldwide Inc. announced its acquisition of the Prime Distribution Services business from Roadrunner Transportation Systems Inc. C.H. Robinson paid $225 million to acquire the carrier and incorporate it into its distribution network.

Prime, of Plainfield, Ind., offers retail consolidation service, including distribution, fulfillment and inventory management to approximately 140 customers. The company was founded in 1990 and manages five fulfillment centers across the country, including 270 employees and 2.6 million square feet of distribution facilities. Prime’s 2019 revenue was $108.7 million.

C.H. Robinson CEO Bob Biesterfeld stated in a press release, “Prime Distribution Services is a high-quality growth company that brings scale and value-added warehouse capabilities to our retail consolidation platform, adding to our global suite of services.”

From Roadrunner Transportation System’s perspective, the sale of Prime will allow the company to move forward with financial confidence. “The divestiture of Prime Distribution Services is a unique opportunity for us to significantly improve our balance sheet,” Roadrunner CEO Curt Stoelting said. “We believe we are well-positioned to execute our strategy of simplifying our portfolio by investing in our remaining Ascent Global Logistics, Active On-Demand and asset-light less-than-truckload segments.”

C.H. Robinson, based in Eden Prairie, Minn., has over $20 billion of freight under its management and processes 18 million shipments annually.

The sale is not Roadrunner’s only effort to change its business model in light of a 2017 accounting scandal and weakening freight demand in 2019. In December, Roadrunner sold its flatbed business unit for $30 million in cash to an undisclosed buyer. A month prior, the company announced the sale of its intermodal business to Universal Logistics Holdings for $51.25 million in cash.

Biesterfeld, in his comments on the acquisition, said, “Prime has an outstanding track record of success, a talented and experienced team and a focus on delivering great value to its customers and carriers.” The acquisition will integrate Prime into C.H. Robinson’s North American Surface Transportation division following the sale’s closing, expected by March 31.

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