Frete.com develops revolutionary technology, advancing the
MIAMI, Jan. 20, 2022 (GLOBE NEWSWIRE) — Current conditions in the Brazilian logistics market are of major concern due to the complexity and inefficiency of its current state. Federico Vega, founder of frete.com, recognized the need for advancement in the freight market in Latin America, with immediate attention to safety, distribution efficiency and extreme bureaucracy. The improvements introduced by frete.com impact more than the immediate population; the agricultural industry is no stranger to the contribution of Brazil, as the world’s largest producer of coffee and cereals, contributing to more than a billion people around the world. Moreover, Brazil ranks among the top 10 global contributors in steel production and mining, reason enough to pay immediate attention to the Brazilian cargo and freight industry. Brazil’s contributions alone justify the importance of developing a systematic and efficient logistics market. By combining modernized operations and software development, frete.com has found solutions to the current state of market inefficiency.
While cargo theft is down 23% in 2021, the financial impacts are still seen at nearly $200 million for cargo shippers and carriers, in Latin America’s largest country. Thanks to these considerable statistics, a team of software engineers from frete.com has helped materialize a revolutionary technology, pioneering advances within the industry. These systems have been developed by studying the patterns and location of security breaches, investigating the aftereffects, and concluding the efforts by establishing innovative strategies to streamline the process of sweating at the destination. By studying flight patterns and reporting history, freighte.com’s technology determines which routes, travel times, areas and types of cargo pose the highest risk. By filtering new drivers and new customers through in-depth filtering systems, faulty registrations are limited, establishing a safety index of 99.58%, with less than 0.5% of advertised freight used on the platform as fraudulent . Truck owners are registered subject to passing a thorough background check and profiling. Thorough consideration includes personal, financial and professional background as well as trucking experience. New technologies also include a freight risk bot, a system that further assesses freight entries posted on the platform, taking into account freight type, origin, destination and value, by noting all recorded freight stops and categorizing the freight as very low risk, low risk, high risk and very high risk. Those flagged as high risk and very high risk are pulled for further review, investigating the cargo owner, records, history, etc. Frete.com’s development technologies already ensured low probabilities of breach, and since the development of the risk bot, fraudulent freight threats have been further reduced by 43%.
The unstructured systems previously seen in the freight transport industry in Brazil have given way to bureaucracy, which continues to drive up costs within the industry. On top of these costs, inefficiencies come in the form of high idle with truck capacities; in previous market history, Brazilian truckers operated at 40-60% idle capacity. Frete.com has developed a freight matching system that allows carriers to find truckers in minutes, increasing overall efficiency and limiting the impact of bureaucracy. This process was developed by observing the driver’s interaction with the platform, using the collected data to determine compatibility, thereby improving freight matching. Machine learning ensures that freight matching services are possible by determining specific loads for the most compatible trucks, ensuring optimal filtering capabilities. For more general cargo, digital locations and routes are used to provide the best options available. With previous systems in play, the unstructured documentation process caused shipping delays, causing a domino effect within the production chain within the industry. By applying technology, updates are sent digitally in real time, optimizing routes and speeding up turnaround times between deliveries.
Funding shortfalls are a major problem in the road freight industry due to limited access to capital, where shippers pay 120 (D+120) notice while transportation costs are immediate (J +1), resulting in shipping delays, operational impediments, and labor disruptions. capital for lack of monetary support. With frete.com, their technology innovates the financing process by examining risk factors for users seeking to manage operations, offering affordable loans to customers to subsidize production costs. In addition to accredited investors, freighte.com uses credit systems that update based on the number of freights made through the use of the platform, related to the type and value of the commodity, the frequency of use, etc These mediums provide proper fluidity to shippers and carriers, resulting in movement and result towards the mismanagement of the current South American freight crisis.
Frete.com recognizes the fundamental systems necessary for proper operation. Their research attempts to better understand security requirements for shippers and carriers, provide streamlined delivery routes and efficient freight matching, thereby limiting bureaucratic leadership. Through the use of technology, frete.com provides accessible financing to customers, closing the pay gap previously seen in outdated systems in South America. We can expect to see continued development in the road freight industry in South America as companies recognize these innovations implemented through the use of these technologies developed by freighte.com.
For any request, contact: [email protected]
Image 1: Frete.com logo
This content was posted through the press release distribution service on Newswire.com.