Banyan Technology, the pioneer and leader in live carrier connectivity, announced increased multi-modal capabilities in the Banyan platform. This expanded functionality, combined with the industry's largest LTL (less-than-truckload) network, establishes an unprecedented, single-platform solution for all modes of shipping, including parcel, LTL, volume, and full truckload.
The Banyan platform offers the industry's first multi-modal transportation management system (TMS) built on live connectivity with carriers, which was the first multi-modal platform of its kind more than eight years ago. The network includes more than 1,400 parcel, LTL, volume, and full truckload carriers.
Because freight is a critical element that affects profitability, implementation of technology solutions in the freight industry is exponentially increasing. Live connectivity with carriers is now the expectation in freight management, especially as organizations are demanding increased visibility and automation in all areas of the business.
"The latest updates to the Banyan platform make it even easier for clients to compare rates between the different modes of shipping, so they always know that they are getting the best price," said Banyan CEO Brian Smith. "The addition adds tremendous value for 3PLs and commercial shippers alike."
Commercial shippers in all industries, as well as third-party logistics companies (3PLs), can connect with their carriers utilizing the Banyan TMS, or shippers can incorporate Banyan's live connections into their current TMS.
"Banyan aligns with world-class, complementary logistics software solutions," said Smith. "Stay tuned for additional partnership announcements throughout the end of the year, all of which will bring optimal value for our clients, partners, and stakeholders."
This announcement follows the recent partnership announcements with two separate industry leaders in the freight management space: MacroPoint, the creator of the patented freight tracking software; and MercuryGate, a leading transportation management solution provider. Banyan is also actively developing the addition of cargo insurance and increased visibility tools within the platform.
"We have strong experience in delivering configurable solutions that help support our client's dynamic business needs," said Banyan Co-Founder and Chief Innovation Officer Lance Healy. "This is a game-changing piece of additional functionality that helps our clients achieve greater control over operating costs through a single, yet immensely robust interface.