Uber Freight introduced a spot freight exchange Thursday that seeks to provide faster decision-making for carriers.
The exchange compiles rates from hundreds of shippers and features bidding, upfront pricing, automated tendering and personalized search and recommendations, the company said.
“Our carrier and shipper customers wanted us to make booking spot loads 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 news release.
The real-time market 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 turned to fragmented online and offline resources to find and book freight,” 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 contract exchange, which launched in 2023 and has been accessed by 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 a greater visibility on rates.
“In an increasingly volatile freight market, uniting carriers, and shippers on a single platform to efficiently procure and service freight at a large scale is essential for Tosca's success,” he said in the news release.
