Make Sense Of Your Rates With Transware Rating

Freight rating made simple with Transware

Most of the shippers we talk to understand the importance of well-managed freight rates & the impact good (or bad) rates have on their logistics budgets. But for many, understanding how their freight rates work & actually being able to do something with them are two entirely separate conversations. That is where Transware comes in!

Since its initial launch in Transware a few months ago, Rating has quickly become a must-have feature for our clients because of its intuitiveness, processing power & quick compare features. Check out why it’s a hit with this week’s Transware Tip!

Transware Standard Report List

About Transware Rating

You bring your rates & we’ll bring the rating system!

For almost all of our clients, maintaining their own rating system is not worth the time or investment it requires because of the value they get with Transware Rating. With Transware Rating, you get access to VTM’s specialized rating system to retrieve ad-hoc shipment costs on demand using your real rates. Send us your rates in whatever format you receive them from your carriers (PDF, Excel, etc) & we will maintain them in Transware for you so it’s always up to date.

How Do I Use Transware Rating?

To get started with a rating scenario, simply enter your shipment details (origin, destination, weight & freight class, if applicable) to retrieve & compare rates across all of your carriers with rates in that lane instantly.

Transware Standard Report List

Rate results are displayed in simple & clear results cards that makes it easy to decided on who to tender to. Get just the highlights, like who’s the least cost carrier & how much you’ll pay, or open a results card to see more details behind the rate calculation for that carrier.

Transware Standard Report List

Want to compare some or all of your results? Check the boxes for the results you want to compare & get a simple side-by-side comparison on costs & estimated delivery dates.

  • Total Shipment Costs is a cost-focused comparison that shows the itemized costs by carrier.

  • Transit Time is a time-based comparison using the transit time & estimated delivery date.

  • The LCC Difference column is always the total cost difference, to enable a cost/benefit analysis of delivery times against cost.

Transware Standard Report List

What Types of Shipments Can Transware Rate?

Use Transware Rating to get rates for your Truckload, LTL or Parcel shipments. Have a shipment that could go as Truckload or LTL? Transware can rate the same shipment with both sets of carriers so you always know who you have the best rate with.

Not matter what rate types you are working with, Transware Rating is already set to handle the most common LTL, Truckload & Parcel rate types (with plenty of flexibility to build your own custom pricing rules too):

  • Cost Per Mile

  • Cost Per Pound

  • Cost Per Tier

  • Flat Rate

  • Point to Point

  • Several others

Transware Rating’s data entry is simple & streamlined so that it only rates carriers that are applicable for the mode of transportation you are looking for & only asks you for the data it needs to calculate a rate. For example, if you are rating a Parcel or Truckload shipment, you will not be asked to enter a FAK class because that is not a relevant characteristic for those shipment types. But, switch to rating as an LTL shipment, and the FAK class fields reappear automatically.

What Else Can Transware Rating Do?

Transware’s rating capabilities don’t stop at ad-hoc rating access! Rating is integrated throughout Transware & VTM’s invoice processing workflow so your rates are always in sync & up to date.

Transware Standard Report List
Transware Standard Report List

About Transware

Transware is VTM’s cloud-based platform where shippers and their carriers can access many thoughtfully integrated solutions including Advanced Analytics, Ad-Hoc Reporting, Rating, Exception Resolution, and Invoice Search.

More Information

For more information about Transware or any of the content in this Transware Tip, please contact transware@vtm.com or (630) 566-5708.

About VTM

Virtual Transportation Management, Inc. (VTM) is a global, third-party provider of cloud-based transportation solutions, including pre-audit, payment, accounting, and custom reporting & analytics for all modes. Our clients have been leveraging VTM’s expert service and leading solutions to improve their spend visibility, decrease invoice processing cycle time, and improve their relationships with carriers since 1995.

Never overpay for a shipment again. Get VTM’s Transware platform to improve visibility, decrease cycle time, and improve carrier relationships.