Banyan Technology’s Intelligent Pricing feature is the first true dynamic pricing for the freight industry.
Enhancing the functionality of Banyan’s premier data hub, Live Connections — an innovative connectivity platform connecting shippers and 3PLs with their preferred carriers in real time — Intelligent Pricing enables carriers to take client intel gathered within their API-powered system and offer client- and contract-specific pricing adjustments.
These adjustments are then automated to appear directly within your workflow as you’re making routing decisions.
How It Works
Banyan’s Intelligent Pricing tool makes automating pricing adjustments simple for carriers.
Simply use our existing rules within their Intelligent Pricing dashboard, or build your own custom rules based on load attributes and/or client behaviors. You can define an unlimited number of rules within the rules engine, as well as define rule priority.
Load Attributes-based Rules: Based on shipment data, you can define rules to automatically include or exclude a shipment for discounts based on factors such as:
- Zip Code – Origin or Destination
- Weight
- Accessorials
- Day of the Week
- Insurance Valuation
- Pallet Counts
- and more
Client Behavior-based Rules: You can also create rules around client behavior, such as load density — on a shipper by shipper basis.
Pricing in Your Control
Ultimately, with Intelligent Pricing, you’re in control.
Banyan has built in the ability to not only set custom discounts, but custom caps within the system.
Lane specials can be offered by:
- Flat fee discount
- % Adjustment
- Time definite
- Shipment quantity
- Cubic capacity
As for capping lane specials, you can create limits based on the number of rules reached or dollar amount reached. You can also prevent lane discounts from showing to any shippers awarded that lane within a recent time period.
Regardless of your method of applying or restricting lane specials, carriers using Intelligent Pricing retain full control over the final rate despite the automated nature of the tool.
Gain a Competitive Edge with Dynamic Pricing
Secure more of the freight types you want with competitive, dynamic pricing — and less of those shipments that aren’t optimal for your business.