While international shipping is responsible for about 90% of world trade, the trucking industry is still vital for the shipment of local and worldwide items. Whether or not you’re in the freight industry, you might be curious about what a load board is and how it works.
While it might seem overwhelming learning all of this freight technology, there’s hope. Read this guide to understand what a load board is and why it’s beneficial for the trucking industry today.
What Is a Trucking Load Board?
Another name for a load board is a freight board. They allow freight brokers and shippers to post loads.
It’s also a great way to post free equipment. Load boards allow you to move freight and enter into different agreements. You can search for loads depending on a list of criteria.
Services could include:
- Mobile Access
- Credit Information
- Make notes on carriers/shippers
- FMCSA Verification
- Finance on loads using factoring
Load Boards Help Grow Businesses
Considering that only 40% of small businesses in the United States are profitable, it’s vital that you work on growing your business. There are also 30.2 million small businesses in the United States, so it’s vital to stand out and offer various options for shipping items around the globe.
When trucks stay empty, money is lost and then workers might wind up working nights and weekends. Late shipments mean a loss in customers or money.
As load boards are incorporated, there’s an increase in business efficiency. It leads to real-time connections between freight operators.
Load boards are also great for determining pay rates. If someone offers a lower price, you can take a look at the data to negotiate a fair rate.
Become a Preferred Carrier
When using a truckload board, it’s a great way to form strong broker relationships. You can create a list of carriers and offer them loads.
It might have location information, load details, and rates. You could be able to book instantly as well. This means that you’ll get on the road quicker and save time overall which equates to a larger sum of money for you.
How Freight Brokers and Shippers Use Load Boards
When you use a truckstop load board, you’ll post loads that need to be transported. You can place delivery locations, the pickup, weight, and freight type. You’ll be able to find a carrier who can do the job without having to email or call them.
Another benefit is that they expand the number of carriers that freight brokers and shippers can read. You could be seen by thousands of carriers around the country. This increases the odds of freight brokers and shippers finding the best carrier for the job.
How Carriers Use Load Boards
First, they can search for loads. They can accept those that meet the rates and criteria that they’re looking for.
Carriers can also bid on loads. Load boards might have the instant bidding feature.
You might be able to use power-only loads as well. This allows you to have access to higher-paying power-only loads. Shipper-carrier handoffs are more efficient due to this.
Instead of having to settle for whatever load comes through, they have options. Thousands of loads will be up to them to choose from and they can decide on the schedule that works for them.
Save on avoiding empty miles as well. Empty miles contribute to carbon emissions. You’ll be able to find additional loads to fill up any empty miles that could occur.
Free Load Board vs Paid
Take a look at your budget and needs when deciding between a paid vs free load board. Freeload boards will save you on a monthly subscription.
Take a look at what our paid services include and decide whether or not they’re an effective solution for your business. Monitor the costs to decide if they’re right for you.
Why Load Boards Matter
First, they’re a great way to keep the freight prices fair for everyone involved. This is due to the open market of a truckload. Without a load board, trucking companies could wind up charging whatever they want.
It’s also faster. You can sign up in minutes.
There are toll-free numbers to use too if you’re calling in. Many of them have excellent customer service as well. Multiple eyes will be on the freight as well to ensure that the best price is given.
Research Broker Credit History
Whether you’re looking for a broker’s credit history or not, some tools will allow you to do this. This can include the average time it takes to pay for brokers, client reviews, and credit history.
Many load boards are committed to providing you with fair rates and negotiations. Truck drivers need to know how to charge the right rate, and load boards help.
It’ll also allow you to check current market rates in your area. This will help you pick the right broker for your business.
Understanding What a Load Board Is
This guide should offer you a better understanding of what a load board is and why it’s beneficial. It’s clear to see why many are choosing it for the shipping of items and keeping prices fair.
Have questions? We’re here to help! Contact us today, and we’ll answer any questions or concerns that you might have.