For the uninitiated, a load board is a website that connects shippers and carriers in the freight and shipping industry. Usually, when trucks deliver loads from one place to another, the vehicle usually returns empty. Keeping the growing operational costs in mind, this can be a big and recurring loss for the carriers. At the same time, shippers and freight brokers often look for trucks in budget but don’t end up with options at the last minute. Loadboards promise to offer a platform, where both parties can find each other. So, how can you select a load board? Below are the things you need to know.
- Free vs. Paid. Not all load boards are free, but most of them would want shippers and carriers to sign up for their services. Just because a load board is paid doesn’t mean it is better than others. Check what you get before making a choice.
- Check the basics. How many loads have been posted so far? How many carriers and brokers are listed on the board? If the website is free, is it easy to use? Can you find a load or a carrier easily? A good load board should be easy to use – period.
- Not everything is free. A lot of load boards are not free completely. In short, you can only post a few loads or trucks in a month or so. Check for free websites that don’t have such restrictions, so that you can rely on them effectively when required.
- Do they offer freight broker credit reports? If not, the load board might not be worth your time. Check if the credit reports are updated frequently. Some sites have more than a thousand credit reports, which can be quite handy for shippers.
- Finally, does the website offer free notifications? Many load boards are extremely effective in matching loads and trucks, and whenever there is a fixed match, the board will send notifications on email to both parties. This will help in finding a load immediately.
If you have never used a load board, take a shot now. For freight brokers, shippers and carriers, these websites are quite handy and offer a wide range of choices and services. Make sure that you check for freight factoring, which is a handy way of getting working capital against your unpaid invoices. Only a few load boards deal in such financing help, so consider that as a point.