Digital freight broker Convoy announced instant bidding, a new feature that lets carriers name their price for the load they want to haul.
With instant bidding, carriers can submit bids on loads with one tap on Convoy’s mobile app. Convoy will either accept or reject the bid. If accepted, carriers get a notification and will need to confirm to accept the load.
Carriers understand their business better than anyone else, according to Seattle-based Convoy. Sometimes a fixed rate doesn’t help them keep their business profitable. They may have to drive farther before or after the job, adding fuel expenses, or wait longer to pick up or drop off the load, preventing them from taking other jobs. The market also changes daily, with rates varying quickly based on the demand for and supply of trucks.