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Pricing Intel
Pricing Intel
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Written by David Bianconi
Updated over a week ago

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Pricing intel

In our relentless pursuit to facilitate smarter and faster decision-making for our users, we are excited to unveil the all-new Pricing Intel main page and a revamped pricing panel in the Shipment Details section. Here’s a detailed look at these powerful features

Pricing Intel Main Page

Our main Pricing Intel page has undergone a significant transformation to present you with a meticulous breakdown of various rates, aimed at assisting you in devising the best strategy for your shipments.

  • Spot Rates: Obtain spot rates from various benchmarking services such as DAT, Truckstop, Sonar, and more will be added.

  • Matching Contract Rates: Users can now view matching contract rates, thus gaining insight into the most favorable rates available for a particular lane.

  • External Rates Card: This dedicated card showcases subscribed external rates, providing users with a diverse range of rate options to consider for their shipping needs.

Accessing Pricing Intel

To access Pricing Intel, your company, and associated users, must have the Pricing Intel feature enabled. Once enabled a user can log into app.shipwell.com (or your customized URL), and click Tools > Pricing Intel.

Running a Query

From the Pricing Intel screen, a user can quickly enter an equipment type and lane, or select from a saved lane, to run a pricing query. The figure below shows an example of this:

pricing intel filters

For now, the “Mode” is read-only and will utilize Full Truckload shipment data only. This will be extended in the future to support additional modes.

2. Next, the user will fill out lane information. Note you can use an exact address, zip code, or city name to pull back results.

note that we will validate address and provide a green checkmark when the address is valid

*note that we will validate address and provide a green checkmark when the address is valid

The user can also quickly clear the lane by clicking the clear command in the upper right.

3. Once the lane has been entered, simply click Submit to run the query.

Lane Stats & Rates

The lane stats and rates section will display existing contract rates, along with origin, destination, total distance, and pricing volatility.

Pricing Intel Graph

Previously run data will show up as a black dot. Along with lines with different colors that will represent the benchmark service used.

Data Source

  • Historical data: If the user’s company has run any lanes matching the criteria, “My Data” will populate and the corresponding data points will be plotted on the graph

  • The shaded region represents market prices from the 25th percentile to the 75th percentile--with the median (i.e., 50th percentile) indicated by the darker, dotted line; 25% of prices realized in the market are higher than the shaded region; 25% are lower.

  • There may be perfectly legitimate reasons a customer is paying a higher price than the returned market pricing. For example, the market price includes all "tiers" of carriers. Just like I rarely buy the cheapest hotel room available, a shipper may want a higher quality carrier - i.e., a carrier with better OTP/OTD performance, more insurance coverage, better track record, consistent compliance status, etc.

  • Using a broker/3PL--much like using a travel agent vs. directly going through Kayak/Expedia--will result in higher costs, rather than directly tendering to an asset-based carrier. Booking with less lead time results--e.g., for today, for tomorrow-- also results in higher prices than being able to solicit prices now for loads moved next week.

Historical Lane Information

If the user’s company has run any shipments matching the searched lane’s criteria, details of those shipments will appear here. The chart includes the following information…

  1. Carrier: carrier who ran that lane. This field is clickable and will take the user to the carrier profile page.

  2. Volume: indicates how many times a given carrier has run the lane

  3. Last Date: the date on which the last shipment was run for this lane

  4. Highest Rate: indicates the highest price paid on this lane

  5. Lowest Rate: indicates the lowest price paid on this lane

  6. Last Rate: indicates the last rate that was paid on this lane

Embedded Pricing Intel

A pricing section is available on the side panel in shipment details enabling users to quickly see matching contract rates and carrier history on the lane without having to leave Shipment Details or having to navigate between tabs.

To access the embedded pricing intel navigate to the side action panel:

embedded pricing intel

Which will pull up an embedding pricing pane as shown below.

From this pane, you can do the following

  • Easily update financials including Max Buy, Book Now and Target rate

  • See customer financials

  • See subscribed rates from external rate providers

  • See rates from connected API carriers

  • Calculator to add accessorials for all in rate

  • See recent lane history with up to 5 most recent carriers used on lane (clicking on “View Pricing Details” will take user to full Pricing Intel page to with ability to see more history if needed.

  • See matching contract rates for the same lane as the shipment.

  • Ability to tender to carrier from Lane History or Matching Contracts

  • Easily tender to carrier directly from lane history or matching contracts:

Limitations

  1. Pricing will only be returned for FTL (DRY VAN, FLATBED, and REEFER)

  2. Only 1 pick 1 stop shipments are priced (current limitation on connected carriers and benchmarking providers)

  3. If a multistop (greater than 2 stops) the pricing intel page and embedded pricing intel page will not pull benchmarking rates.

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