Introducing the DrayNow Real-Time TRUprice Tool
The team at DrayNow is excited to announce our new proprietary pricing tool, the DrayNow Real-Time TRUprice Tool.
This tool will make up-to-the minute pricing recommendations for every load posted on DrayNow. Its underlying machine learning models are continuously evolving and leverage historic and current data to estimate whether loads are likely be requested based on their prices, attributes, and prevailing marketplace conditions.
The Real-Time Pricing Tool notifying the user that the current rate is not competitive due to real-time data.
“I am excited to announce the TRUprice tool, it is a key part of our mission to disrupt Intermodal. We are completely over-hauling how Intermodal Freight is priced” says Mike Albert, CEO of DrayNow “This will change how the industry thinks about pricing, by making pricing data radically transparent”.
Once you enter the price, you will see a variety of ratings for that price, ranging from five different ratings from Not Competitive all the way to Very Competitive. A price rated as Not Competitive is likely not to be requested, while a price rated Competitive is likely to be taken, and a price at Very Competitive is even more likely.
After an adjustment, the price is given a more competitive rating.
“With this new feature, a broker will no longer have to wonder whether their price is going to be competitive on the marketplace,” explains Drew Holland, VP of Technology & Strategy. “In just one click, the algorithm provides a rating that gives immediate feedback on that price point.”
By putting an order on the DrayNow marketplace with a TRUprice, the user can take out the guesswork of market dynamics. It also ensures that a user will never over-pay to have freight moved again. The user can still post with any price, and see how the market treats the freight. This tool enhances the experience, and lets users know in real time how supply and demand is interacting to determine price.
The DrayNow Real-Time TRUprice Tool is the first of its kind to give immediate pricing feedback to users. Try today on the platform, or reach out to firstname.lastname@example.org to learn more!
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