load boards

A load board is an online marketplace or matching system that allows shippers and freight brokers to find carriers for their loads, while helping carriers find loads to keep their truck full and maximize their earnings.

Also known as freight boards, load boards are a crucial element of the shipping industry and play a large role in ensuring that freight is matched to a carrier and is delivered on time.

Already familiar with load boards? Read about the benefits of a load board powered by a digital freight network.

Shippers and freight brokers use load boards to post loads that they need transported, shippers acting on behalf of their own freight and freight brokers acting on behalf of the shipper they are working with.

Including specifics such as freight type, weight, pickup and delivery locations, and other information enables shippers and freight brokers to find a carrier who can do the job without time-consuming manual calling and emailing.

Load boards also vastly expand the number of carriers that shippers and freight brokers can expect to reach, with each load having the potential to be seen by thousands of carriers nationwide. This expanded reach increases shippers’ and freight brokers’ likelihood of finding the very best carrier for the job.

Load boards can be helpful even if shippers and freight brokers already work with dedicated carriers. If demand surges and their dedicated carriers can’t handle the volume, or any other issues arise, a load board can help shippers and freight brokers find a carrier quickly to meet urgent needs.

Given these capabilities, load boards are also an ideal way for shippers to eliminate the need to use freight brokers, who find shippers carriers for a fee or percentage of the cost of the load. By performing the same function as freight brokers, load boards can help shippers eliminate the intermediary and reduce costs.

Carriers and owner-operators use load boards to find contracts and ensure a steady source of work. They can do this by:

• Posting empty trucks: Shippers searching for empty equipment to haul their freight can reach out if the listing appears to meet their requirements.
• Searching for loads: Carriers can search for loads that shippers have posted and immediately accept those that meet their criteria and desired rates.
• Bidding on loads: Some load boards have instant bidding features, enabling carriers to bid on loads according to what they feel their time and equipment are worth. Instant bidding enables carriers to negotiate their rates without having to barter over the phone.
• Filtering to power-only loads: Some load boards provide access to higher-paying power-only loads, which use the drop-and-hook freight model to make shipper-carrier handoffs more efficient.

These load board capabilities help carriers find the highest-paying freight loads possible. Rather than being forced to settle for whatever loads they’re able to find in time through one or two brokers, carriers now have access to thousands of loads and the ability to choose what freight is optimal for their schedule.

Load boards also help carriers avoid empty miles, or miles in which truckers drive empty because they’re on the way to pick up a load or on their way home after dropping a load off.

Empty miles are not only a waste of time and money for truckers, but are also unnecessary contributors to carbon emissions. Load boards help prevent empty miles by making it easy for carriers to find additional loads to fill each empty segment of their trip.

Most load boards require a monthly subscription fee, with exact costs depending on the quality of the software and the features available. As a result, the exact cost varies from one load board to the next, with the most expensive options reaching up to $100 per month. Convoy offers access to its loads free of charge – with no monthly subscription fees or service charges.

Paid vs. Free Load Boards

With free load boards available, many shippers and carriers wonder, are subscription load boards worth it?

The answer, of course, comes down to your specific needs and budget. Free load boards save carriers and shippers the cost of the monthly subscription and many times offer the same level of access to loads or capacity. While some businesses choose to use paid load boards to access specific features or freight, it is important to closely monitor the costs of these paid services and continuously evaluate if they are the most effective solution for your business.

Convoy offers access to its loads free of charge through the Convoy app and website – with no monthly subscription fees or service charges. Convoy also provides benefits like free Convoy Quickpay™, Convoy Quickpay™, and the industry-leading TruckYeah Savings Program.

For those who want to take the benefits of load boards even further, look for a load board from a digital freight network. Digital freight networks…

• Utilize automation to match trucks with loads more quickly, increasing efficiency and reducing costs
• Automatically assess billions of freight combinations to optimally coordinate and combine shipments
• Provide real-time planning and tracking capabilities, enabling consistent optimization

A digital freight network with load board capabilities and more, Convoy is currently transforming the freight industry with an open and fully connected digital marketplace for shippers and carriers. Sign up as a carrier to learn more today.