Although Road Freight Transport industry plays a central role for European Economy accounting for more than 70% of all inland freight transport, it is very inefficient! According to Eurostat, the overall efficiency of Road Freight Transport is only 43%, with freight vehicles in the EU driving in average 24% of km completely empty. Moreover, when they are not driving empty, trucks are (in average) loaded at only 57% of their capacity.
To change this and improve the load factors for trucks, CargoList has introduced a real time auctioning platform for the Road Freight Transport Industry, where transport providers and transport clients trade shipping requests and offers.
The company is focusing on 2 main objectives:
1) Increase the level of capacity usage by introducing modern information and communication technology (auctioning system, messaging system, feedback and rating system, price suggestion algorithms, centralised dispatch and a GPS-enabled continuous freight search system.)
2) Enhance the business climate by introducing specialised financial services, custom designed for the freight industry needs. (Online payment processor, Payment guarantee and quick payment option by corporate credit offered through an external partner)
These 2 problems are the root cause of the most important inefficiencies in this very big industry, thus solving them represents a tremendous opportunity for the company, as well as for the industry itself.
