How to Protect Your Book of Business with API Rating 
Employee Training
Byadmin-hubtek |
20 June, 2023 |

As the freight industry evolves, it is increasingly important to understand how to protect your book of business with API Rating.

In today’s fast-paced freight industry, staying ahead of the competition and capturing more business opportunities requires leveraging advanced technologies. One such game-changing solution is API rating, which enables brokers to protect and grow their book of business through enhanced data visibility and efficient pricing strategies. In this blog, we will explore the key benefits and insights shared during a recent webinar hosted by Dan Hellmann, CSO at TABi Connect, where he emphasized the importance of bringing more data and visibility to capture more freight. 

  1. Automated Pricing – simplifying the quoting process: Automated pricing is a core feature of TABi Connect, the innovative platform discussed in the webinar. By extracting load details from a shipper TMS (Transportation Management System), TABi Connect streamlines the quoting process. It seamlessly interfaces with rate engines to retrieve accurate rates, applies predefined parameters, and submits final rates to the shipper’s TMS. This efficient automation reduces response time and allows brokers to quote more effectively, capturing crucial information in just three seconds. 
  1. Increasing Quoting Opportunities and Revenue Potential: Brokers often struggle to respond to spot quotes promptly, limiting their ability to capture business. However, with the speed and efficiency of API rating through TABi Connect, brokers can quote faster and more frequently. While guaranteeing increased freight and revenue is not possible, it is typical for brokers to see positive outcomes by leveraging API ratings. The ability to quote more frequently provides a competitive edge and increases the chances of securing profitable business opportunities. 
  1. Dynamic Pricing – shaping the future of freight quoting: The webinar highlighted the evolving nature of freight quoting, particularly with regard to dynamic pricing. Rather than relying solely on traditional spot quoting, shippers now have multiple options, including contract freight and real-time rating. The real-time rating allows shippers to obtain instant quotes before the freight reaches the spot market. This dynamic pricing approach empowers brokers to provide accurate quotes promptly, satisfying customer requirements and driving business growth. 
  1. API – the future of the freight industry: API technology is at the forefront of industry innovation, revolutionizing the way brokers operate. Speed to market and rapid decision-making are essential elements provided by API rating. The ability to access accurate data, both internally and externally, offers a significant competitive advantage. API-driven solutions like TABiConnect empowers brokers to make data-driven decisions efficiently, positioning them for success in the evolving freight landscape. 
  1. Competitive Advantages of API Rating: API rating offers brokers several competitive advantages. Speed to market and decision-making gives brokers an edge in securing business opportunities promptly. Accuracy in quoting ensures reliable and trustworthy service, building trust with customers. Moreover, API rating enables brokers to access valuable data for internal analysis and external collaboration, fostering collaboration and strengthening relationships. Embracing API rating positions brokers for future success, adaptability, and growth. 
  1. Data-Driven Decisions – the essence of rating: The webinar emphasized that rating is more than just a platform, it’s a data-driven decision-making process. By harnessing the power of data analytics and real-time information, brokers can make informed decisions that optimize their book of business. API rating facilitates access to crucial data and insights, empowering brokers to stay competitive and responsive in an ever-evolving industry landscape. 

In an industry driven by speed, accuracy, and data, API rating emerges as a transformative solution for brokers seeking to protect and grow their book of business. This webinar shed light on the benefits of bringing more data and visibility to capture more freight. With TABi Connect and API rating, brokers can streamline their quoting process, increase quoting opportunities and leverage dynamic pricing strategies. Embracing the future with API-driven solutions provides brokers with a competitive advantage. 

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Categories:Blog | Hubtek | Technology