In this debut episode, Banyan Co-Founder and Chief Innovation Officer Lance Healy, along with Banyan Senior Vice President of Technology Will Lazzaro, tell the story of a shifting industry. We learn about the creation of Banyan in the late 90’s, and discuss how there are still so many misconceptions surrounding APIs. Very special thanks to our exchange student from the Rotterdam Business School, Marijn Stuit, for his assistance with this freight podcast.
If you like the episode, let us know below. We’re excited to bring you this freight podcast!
0:00 – Welcome to Episode 01
1:02 – Will gives a rundown on static rate tables vs. EDI vs. APIs
2:29 – How live connections help carriers
2:50 – Missing the point of APIs
3:05 – Why you need more than APIs
5:00 – Normalization of freight, and why that matters
5:35 – New technology means new relationships with your carriers
“Everyone throws a guess out on price and volume based on last year, and then everyone tries to adjust throughout the year. When you start looking at live connections, it throws all that out the window. You don’t have to do that… now you have options. Now you can invite carriers, instead of quoting me based on someone else’s average tariff, why don’t you quote me on your tariff. I’ll bet you can get me more competitive pricing based on your tariff than someone else’s.” – Banyan Co-Founder and Chief Innovation Officer Lance Healy
7:40 – Negotiate more regularly, which is now possible with new technology
9:05 – Optimization of analytics – be a better customer for better freight rates
9:42 – Industry adoption of APIs and live connections
11:25 – A look forward – the next 2/3 years
If you want to learn more about live carrier connectivity in your TMS or ours, request a demo today.
Thanks for listening to this freight podcast!
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