3 Ways to Vet Every Carrier
A freight broker’s brand is only as strong as the carriers it uses. So, your brokerage can potentially hold some legal liability when a carrier runs behind schedule, damages freight, or gets involved in an accident. Even if it doesn’t, however, your brand may suffer damage in the eyes of shippers.
You can’t control a carrier’s actions, but you can control which carriers you choose as partners. By proactively vetting carriers before working with them, you’ll drive more revenue, mitigate risk to your brokerage, and protect your brand.
When evaluating carriers, every freight brokerage should weigh the following key performance indicators (KPIs):
Automate Your Vetting Process
While thorough carrier vetting protects your broker brand, it also slows you down. Performing extensiv due diligence may extend the carrier onboarding process, and you need to onboard carriers fast enough to meet shippers’ demands.
Fortunately, you can get the information you need without grinding the vetting process to a halt by leveraging technology. A new generation of back-office tools for freight brokers automates much of the manual work.
The Axle platform offers valuable integrations that facilitate comprehensive carrier vetting. For example, Axle integrates with the EZ Loader transportation management system, which features a digital carrier database and the Saferwatch carrier monitoring system. This integration allows you to digitally onboard your carrier partners and remain vigilant about their authority statuses and safety ratings. With the right technology suite, brokers can easily pull safety records, insurance certificates, and other carrier data in real time — and with improved accuracy over manual processes.
Establishing and automating a thorough carrier vetting process makes good business sense. You’ll mitigate risk, work with more carriers that deliver profitable partnerships, and keep your broker brand spotless.
If you’re interested in learning more about how Axle can help grow your credit and help build your business, we’d love to talk.