By connecting brokers with a vast network of trusted carriers, the Convoy Platform will drive growth and efficiency for brokers and carriers alike in a hugely fragmented market
Flexport, a global logistics technology leader, announced that it is expanding the Convoy Platform for brokers. The launch gives brokers effortless access to thousands of reliable carriers across the country, drastically simplifying freight execution and lowering operating costs for brokers and carriers alike.
The Convoy Platform is an AI-powered marketplace that aggregates a large, reliable pool of carrier owner-operators into a common platform with automated end-to-end load management, giving brokers access to a unique pool of capacity that is highly flexible, operates 24/7, and provides high tracking visibility. Brokers can use the platform to maximize the reach and effectiveness of their carrier operations teams, and automate manual tasks, including carrier negotiation, vetting, status updates, document management, and payment. This lowers the carrier procurement and load management costs for loads on the platform by as much as 90%, while expanding and diversifying load coverage across the country. The Convoy Platform also helps brokers monitor carrier risk and reduce fraud, theft, and unsafe behavior by leveraging machine learning models based on proprietary forensic data, which allows brokers to expand their network while minimizing risk.
“The U.S. trucking market has undergone a massive transformation since the pandemic. Technology has empowered a new wave of small carriers who manage their business through their phone. We see a tremendous opportunity to connect that capacity to brokers, simplifying operations and lowering costs, while expanding opportunities for small carriers,” said Bill Driegert, Flexport EVP and Head of Trucking. “With today’s launch, brokers using the Convoy Platform will be able to level up their operations and focus on strengthening core customer relationships and growing their businesses. At Flexport, we believe that technology plays a crucial role in empowering the entire trucking ecosystem; carriers, brokers, and shippers need new solutions to adapt and thrive in an ever-changing market.”
The launch brings efficiency to the long tail of the trucking market and addresses a common pain point for brokers looking to efficiently partner with the massive pool of small carriers, who have shifted to app-centric operations and load management. The U.S. trucking market is made up of nearly 30,000 brokers and more than 750,000 carriers, with 96% operating with fewer than 10 trucks. The Convoy Platform helps owner-operators run more efficiently, enabling them to effortlessly book and manage freight and keep their trucks moving.
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“The Convoy Platform is leveling the playing field for all – the technology has transformed our operations and made us as digital as any other company in our industry,” said Eric Schnirel, CEO of Great Lakes Transport. “By leveraging the platform’s expansive carrier network and digital solutions, we’re poised for exponential growth while maintaining the service excellence that defines us.”
Today’s launch is the next product milestone in Flexport’s trucking technology roadmap and builds on the launch of the Convoy Platform in February 2024. The platform expansion is a major step forward to take inefficiency out of the trucking ecosystem, allowing brokers and carriers to focus on high-impact, seamless operations while delivering quality performance for shippers. Flexport, Inc. purchased the Convoy app and related intellectual property of Convoy, Inc. in November 2023.
