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Uber Freight unveiled a spot freight exchange on Thursday that seeks to provide faster decision-making for carriers.
The exchange aggregates prices from hundreds of shippers and includes quotes, advance pricing, automated bidding and personalized search and recommendations, the company said.
“Our carrier and shipper customers wanted us to make bookings simpler and more efficient, and that’s exactly what Uber Freight Exchange: Spot does,” Raj Subbiah, head of product at Uber Freight, said in a press release.
The real-time marketplace seeks to gain a foothold in an existing environment that Uber Freight says is inefficient with time-consuming searches as well as disjointed communication. “Traditionally, carriers have turned to fragmented online and offline resources to find and book cargo,” the company said.
Uber Freight has introduced other time-saving technologies, including digital solutions for broker scheduling, AI-powered software and TMS integrations.
The new feature expands Uber Freight’s exchange contract, which began in 2023 and has access to over 900 carriers, a spokesperson told Trucking Dive.
The Uber Freight Exchange: Spot tool is free for carriers and part of an annual subscription for Uber Freight Transportation Management customers.
Robert Chase, director of transportation and reverse logistics at Atlanta-based Tosca, noted the benefits of greater price visibility.
“In an increasingly volatile freight market, uniting carriers and shippers on a single platform to efficiently source and service freight at scale is essential to Tosca’s success,” he said in the press release.