Transit Group president Philip A. Belyew said transitgroup.com allows buyers and sellers to know the supply and demand conditions of the marketplace, creating a more efficient flow of freight and allowing more efficient use of available capacity.
The initial phase of transitgroup.com centers on domestic and international loadsharing services as well as agency opportunities, including agent sign-up and privileges. This phase will be developed around existing agent relationships, which in 1999 provided $64 million in revenue for Transit Group and today's run rate is approximately $175 million. Belyew said the company believes it can increase this source of revenue significantly with the addition of new agents through the portal.
A full rollout of transitgroup.com and its complementary services is expected in late summer 2000.