The trucking industry has long struggled with the complexity of managing rates, particularly fuel surcharges. BeyondTrucks is now tackling this challenge head-on with its new AI-powered tool, RateAgents. This innovative solution uses generative AI to turn plain-language rate logic into working code, reducing the need for manual coding and spreadsheets. By automating this process, carriers can streamline their operations and reduce errors that can result in significant financial losses.
RateAgents is a game-changer for carriers looking to simplify their rate management processes. The tool allows users to build and manage rate logic using plain language, rather than custom code or spreadsheets. This makes it easier for non-technical users to create and modify rate tables without requiring engineering support. With RateAgents, carriers can focus on what matters most – moving freight efficiently and effectively.
The first application of RateAgents focuses on fuel surcharges, a critical component of carrier revenue that can account for up to 15% to 20% of a carrier's total revenue. Fuel surcharges are used to stabilize relationships between shippers and carriers when diesel prices fluctuate, ensuring that freight keeps moving even as fuel costs rise.
However, managing fuel surcharges is notoriously complex due to the varying formulas and calculations used by different customers. Carriers must navigate a patchwork of rate logic that can include unique formulas, geographic indexes, or custom calculations negotiated with each shipper. This complexity creates a significant challenge for carriers looking to simplify their operations.
The current reliance on spreadsheets, manual processes, or expensive custom development work is not only costly but also increases the risk of errors. Billing teams may process hundreds of loads per day, increasing the likelihood of small errors that can add up financially – especially given the size of fuel surcharge revenue.
BeyondTrucks' solution addresses this gap by using large language models to translate natural-language descriptions of rate logic into working software inside its platform. The tool is described as a 'coding agent' embedded directly in the company's TMS, allowing non-technical users to build and modify rate tables without engineering support.
The initial release of RateAgents marks an important milestone in the trucking industry's shift towards automation and AI-powered solutions. As carriers continue to adopt this technology, we can expect to see significant improvements in operational efficiency and reduced errors.
BeyondTrucks CEO Hans Galland has described the current state of rate management as 'spaghetti' – a chaotic mess of formulas, calculations, and manual processes. The company's solution aims to simplify this complexity by providing a standardized and automated way of managing rates.
As the trucking industry continues to evolve, it's clear that solutions like RateAgents will play an increasingly important role in shaping the future of carrier operations. By automating rate management, carriers can focus on what matters most – moving freight efficiently and effectively – while also reducing costs and improving accuracy.
