This fireside chat is from the FreightWaves 3PL Summit.
FIRESIDE CHAT TOPIC: How to interpret new recurring revenue opportunities.
DETAILS: Chris Arredondo is the co-founder and vice president of customer success at California-based Cargo Chief. He spoke with Travis Rhyan, chief product officer at FreightWaves, about how 3PLs and freight brokerages can use Cargo Chief’s technology platform to create new recurring revenue opportunities, on Wednesday at the FreightWaves 3PL Summit.
BIO: Prior to co-founding Cargo Chief, a technology company built to serve the capacity and rating needs of logistics professionals, more than four years ago, Arredondo worked as a senior carrier procurement representative for XPO Logistics and as a truckload capacity buyer for C.H. Robinson Worldwide.
Key quotes from Arredondo:
“Our customers are able to use the tools that we provide them to understand lane density, their carrier mix, their carrier makeup, how many carriers they have at any given time to cover a lane and then use a price to kind of benchmark what’s today going for? What was that lane going for last month? Historically, what’s the lowest rate? What’s it going to be next month?”
“I think a lot of times people are still just booking loads and going and at the end of the month they’re at 350 loads. Then the next month, on day one, they start at zero, so it’s very hard to keep that momentum going.”
“And I think when you look at recurring revenue from a spot market side, it’s really about identifying patterns and figuring out what you can prebook or book now to make sure that revenue is going to keep recurring every month.”
