When you browse on Amazon to get yourself an ELD, you will invariably come across Konexial’s ELD at the top of the pile. Their ELD is the highest rated and also the cheapest option available in the list of ELDs on the Amazon product category. What makes this interesting though, is the fact that Konexial was not founded with the intent of being an ELD product company.
“We wanted to make dynamic load matching work, and for that, we needed a compelling product that small and independent companies will find beneficial,” says Ken Evans, CEO of Konexial. “When I looked at the landscape and became knowledgeable about ELDs, I understood that the best way to reach people was by building an ELD product which is superior from a usability standpoint and is also available at a much lower price than any other ELD out there.”
The My20 ELD solution that Konexial has in the market is designed to be a one-stop solution for drivers and shippers, catering to their 360 deg. needs – be it mobile dispatch, load matching, fuel, or communication while hauling. “The idea was to give drivers a single application that could do everything that they need to do. We are probably the only ELD company that has taken a broader view of what the apps should do with a compelling value proposition,” notes Evans.
The process to integrate into the My20 application is simple. During the pre-qualification procedure for dynamic load matching, Konexial collects relevant information about the carrier and its driver. Once deemed qualified, the carrier can name the rate per mile that they are willing to work for, under the standard terms and conditions of the GoLoad platform. The application would send out a prioritized list of opportunities available at the moment, based on the carrier’s location, hours of service and hauling rates. The carrier can choose to accept or reject the load as there is no obligation to take a load at any point in time.
Konexial targets three important pain points of both shippers and carriers through their platform. The first one is fuel fairness, where the platform makes it a standardized calculation based on the number of miles per gallon factor and the real-time fuel price in line on the day’s shipment. There is no option for a fuel surcharge as the price is declared upfront about how much would be paid per mile for fuel. Evans insists that having complete transparency on fuel keeps the platform unbiased and both the shippers and carriers happy.
Detention is the second issue that the company is tackling, and with great success. “Drivers can’t afford to be detained for 2 to 4 hours for loading or unloading. Shippers who use GoLoad have to sign up for the detention agreement which basically allows 90 minutes in total for loading and unloading,” explains Evans. “For example, if a shipper takes 30 minutes to load a truck, he can have up to 60 minutes to unload. Any exceeding of the 90 minutes is billed at $200 per hour detention rate and is non-negotiable. All that money goes straight to the carrier, making this a powerful economic incentive to load and unload trucks efficiently.”
The final issue to be addressed is the payment term, where Konexial promises to initiate electronic transfers 48 hours after a successful proof of delivery. “Through our dynamic load matching, we solve the major issues that the industry faces and provide an attractive incentive for people to be part of the system,” adds Evans.
The ELD market now is flush with over 200 companies vying for market share. But Evans believes that the situation will change, and companies will consolidate … by the end of the year. “A lot of companies are failing because they were not successful with their hardware or can’t support their users. We have already had several calls from companies that are failing and are looking for an exit strategy,” he says. “Many of them entered the ELD market thinking it is an easy thing to do, but have now figured out it is not.”
Evans concludes by saying that he believes Konexial leads the market because it encourages an open and honest dialogue with its customers, and also because it educates the drivers while genuinely caring about their needs on the road.
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