Convoy introduces automated bidding feature for carriers

Seattle-based digital freight broker Convoy rolled out automated bidding for its Request a Load service offering, which is geared towards United States-based motor carriers. Request a Load is a key component of the Convoy app deployed by carriers and allows them to directly share preferences and get them the loads they want with less effort.

Convoy said that this new automated bidding feature enables it to automatically bid on loads for carriers that are based on the rate favorite lanes and date and carrier requests in the Convoy app, adding that if the carrier wins a bid, it is instantly notified.

Convoy Director of Product Management Nikhil Jaipuria told LM that automated bidding is the direct result of the feedback Convoy has been getting from its carriers.

“Carriers have been telling us how time-consuming and stressful it is to find work and negotiate a fair rate to keep their trucks full—one carrier even told us that he spends 75% of his non-driving time looking and negotiating for loads!” he said. “Others mentioned that the fear of missing loads in this market added constant stress and that they had to always be on the lookout for new loads and had to take every call they got from brokers.”

With that as a backdrop, Jaipuria explained that Convoy’s goal is to provide carriers a “hassle-free” experience to keep their trucks full and reduce waste, which ultimately, in turn, helps carriers earn more.

What’s more, Jaipuria said when using automated bidding with Request a Load, a carrier tells Convoy when they will be empty, their favorite lanes and a rate that works for their business and Convoy automatically bids for every load matched on its network. 

“There’s no extra work after submitting the request,” he noted. “No fielding broker calls. No negotiation. No need to constantly check the app. If you win, we instantly notify you and all you do is tap to accept.”

Prior to the launch of automated bidding, carriers had to spend many hours posting their trucks, talking to brokers and engaging in a back-and-forth negotiation, which, Jaipuria said, could end in a poor match or a rate that would not work for their business.

“In addition, the fear of missing out on a great load led to a great deal of stress and a need to continuously monitor new loads and take every call they received from brokers,” he pointed out. “Automated bidding is part of Convoy’s effort to enable carriers to spend more time driving and making money, and less time looking for work.”  

When asked what the key benefits of automated bidding for Request a Load are for carriers’ customers, shippers, Jaipuria noted that shippers get access to the right carriers more affordably than through a traditional, call-intensive broker model since this feature reduces waste for everyone.

“Because of the automation, Convoy is able to match more quickly and efficiently than the rest of the industry and this saves money and helps find a match, even for a last-minute load,” he said.  “Convoy recently announced that we are automatically matching 100% of loads to trucks in our top markets and features like this are further strengthening our automation. Finally, bidding rewards higher-quality carriers. We consider both the bid and the quality of the carrier (falloff, on-time, etc.) to award loads. This ensures high quality service for our shippers.”