project44, a progressive Chicago-based technology company, has introduced dynamic pricing technology to the freight industry through a pricing engine API (Application Programing Interface), allowing carriers to provide on-demand pricing that is based on supply and demand in the marketplace. This first-to-market dynamic pricing technology for the freight industry has been adopted by the largest LTL consolidator in Southern California, Sunset Pacific Transportation, to optimize their network and gain profitable market share.
project44 provides a proprietary network of cloud-based freight Web Service APIs (Application Programming Interfaces) to instantly connect shippers and 3PLs to capacity by integrating project44’s services into customer’s pre-existing TMS (Transportation Management System). These connections are used electronically by companies for real-time rating, tracking, dispatching, image retrieval and now, dynamic pricing.
Just as travel and airline industries are able to provide pricing based on market conditions, project44’s newly released pricing engine API allows 3PLs and brokers to pull carrier rates in real-time. The company works with carriers to enable API solutions based on how the carrier rates the freight they load, whether it’s by dimension, cubic feet or class.
With its recent project44 Integration, Sunset Pacific Transportation is now on the forefront of dynamic pricing technology and will be able to better fulfill the needs of its customers. project44 provided Sunset Pacific Transportation with a dynamic rating engine paired with a public API, which enabled the company to offer rates to shippers, brokers and 3PLs with enhanced visibility, on a live-market schedule. By connecting to project44’s dynamic pricing API, real-time rates are provided to 3PLs and brokers within milliseconds following an outbound rate request. Sunset Pacific Transportation has also launched a website to enable online rating for customers who may not have their own internal systems.
“Using project44 has been natural step in the evolution of the spot quote,” said Josh Craig, President and COO of Sunset Pacific Transportation. “Customers no longer have to spend their time calling or emailing to find out the rates to move a shipment. Through project44’s pricing engine API, customers are able to find our rates within seconds and we can better respond to market conditions and change our pricing accordingly. Using the API lets us reach more representatives at 3PLs and brokerages, providing us more visibility and an increase in automated quote requests.”
Since integrating with project44’s pricing engine API, Sunset Pacific Transportation has reported an increase in profitable business due to the enhanced exposure to all representatives at brokerages and 3PLs. Additionally, employee productivity has increased since it is no longer necessary to deploy resources to manually manage rates and answer phone calls of various shippers, brokers and 3PLs.
“To successfully operate in today’s competitive market, carriers need technology that helps them make better business decisions and serve their customers efficiently in real-time,” said Wally Ibrahim, CTO of project44. “We were able to provide an enhanced solution to Sunset Pacific via the project44 pricing engine API that allows them to control pricing on a dynamic scale and respond to real-time conditions. This level of data insight will help carriers redefine how they operate, and is only available using the advancements that web service APIs are able to deliver.”
For more information about project44’s web service APIs or to request a demo, please visit www.p-44.com.