Cargo Chief recently announced the release of LaneMaster, a real-time full truckload (FTL) rating engine which gathers true freight pricing data through a consortium of transportation management software (TMS) and technology providers.

“LaneMaster helps 3PLs grow their margins and speed rate negotiations with carriers by setting realistic pricing targets using the most current, accurate and relevant rate data in the industry,” said Russell Jones, CEO and co-founder of Cargo Chief. “LaneMaster shows users what other professionals are currently paying in the requested lane to build confidence in negotiations.”

LaneMaster's consortium model gathers anonymous FTL rate data as soon as loads are booked, updating instantly from thousands of daily transactions to include origins, destinations, mileages, trailer types, pick up dates, and rate details. The names of the shippers, 3PLs, and carriers are not shared.

"Seeing transactions as they're being booked helps us from being upside down on a load by knowing actual costs instead of guessing," said Patrick Carroll, director of operations and pricing for RoadOne LogisticSolutions.

LaneMaster has a data cleansing process that uses an exclusive algorithm developed by experienced data scientists that ensures quality and consistency in FTL rating.