Sleek Technologies launched Sleek Match Engine back in October 2019 with a goal to simplify logistics by automatically matching drivers to loads. Match Engine, a proprietary machine-learning engine, leverages predictive algorithms, smart business rules, and a system of measures to gauge the likelihood of a specific driver to have an interest in a particular load. Match Engine overlays multiple internal and external data sources to find the perfect driver, which provides much-needed capacity, above average service levels, and shipper savings for our customers.
Since launch, Match Engine has exceeded expectations and goals. When comparing the pre-launch period against the test-pilot period, there was a whopping 70% increase in registered carriers. Fast forward to today, post-pilot phase, and new carrier registrants have increased by over 300%. Our shipper customers are also saving up to 11% per load, even during these extreme market conditions.
Usually by now, market conditions would begin to soften as Summer comes to an end but truckload demand has remained tight. Primary carrier network acceptance rates continue to slide because contracted rates can not keep up with demand. “Sleek Match Engine is hard at work finding the right drivers to move our customers’ freight. Comparing August 2020 to July 2020, Match Engine successfully matched 40% more loads,” said Oleg Yanchyk, Sleek Technologies CIO. “Acceptance rates within the Sleek Carrier Network have also grown more than 50% with Match Engine”.
Truck costs are at all-time highs. DAT recently reported a 30% increase in spot rates from $1.81 per mile in June to $2.37 in September. Many shippers have been forced into the costly spot market which has negatively impacted transportation budgets.
Sleek OTS Plugin, which is powered by Sleek Match Engine, runs behind-the-scenes in popular TMS platforms automatically connecting shippers to qualified drivers. “Together, OTS and Match Engine eliminates the middleman and associated costs generating savings for the shipper,” said Mike Edwards, Sleek Technologies Enterprise Sales Leader. “On average, our shipper customers are savings 8-11% per load.”
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