Convoy Awarded Company of the Year by Frost & Sullivan for Industry-Leading Digital Freight Network
Shippers • Published on June 29, 2020
Each year, Frost & Sullivan presents the ‘Company of the Year’ award to an organization that demonstrates excellence in terms of innovation and growth in its field. Within the freight industry, growth in the digitization of freight providers has accelerated in recent years, driven by a need to reduce inefficiencies in the shipment lifecycle, improve capacity utilization, and ultimately lower transportation costs for shippers.
Convoy is proud to be recognized as the Company of the Year by analyst research firm Frost & Sullivan in a benchmark study covering the nations top digital freight providers. Convoy led on industry-first innovation and customer experience and was also recognized for its ability to help shippers improve the resilience of their supply chains and weather market volatility through its digital freight network.
Analysts recognize Convoy for first-to-market innovation, business strategy, and customer satisfaction
Based on interviews with shippers from a range of industries, Convoy was commended for its unmatched customer service and its ability to anticipate latent industry needs. This includes 100% automation of the truck matching process, an innovative approach to backup freight that provides shippers with instant prices and guaranteed coverage, a nationwide drop-and-hook marketplace that uses smart trailers to improve load visibility, and a unique partnership model that helps shippers uncover hidden inefficiencies in their supply chain.
“Thanks to technology-intensive brokerages like Convoy, gone are the days when shippers and carriers had to manually broker loads through phone calls and emails, matching some, delaying some, registering empty miles and containers all while paying heavy commissions to brokers,” said Silpa Paul, team lead of Commercial Vehicle Research and Consulting at Frost & Sullivan. “Convoy’s 100% automation saves shippers time and money by finding the highest quality drivers faster, by reducing falloff through automatic truck reassignment.”
The future of freight hinges on achieving greater efficiencies and reducing its carbon footprint
According to Frost & Sullivan, the future of freight hinges on achieving greater efficiencies and reducing its carbon footprint and “Convoy’s unique solutions are enabling this greener future for the transportation industry.” Convoy launched Automated Reloads in 2019 to address the 72M metric tons of CO2 equivalent emissions from empty miles in freight. Machine learning automatically bundles multiple truckload shipments into one job, reducing empty miles and the resulting unnecessary carbon emissions. Additionally, Green Appointment Windows, a new feature in the Convoy shipper platform was announced in early 2020, offers shippers the ability to book their freight in a flexible appointment window to get access to the best carriers at the best price while simultaneously reducing their carbon emissions. To date, more than 2M pounds of CO2 have been saved.
About Frost & Sullivan
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.