QBurst > Case Studies > Intelligent Prescriptive Pricing: Streamlining RFP and Pricing Workflow for Logistics Service Providers

Intelligent Prescriptive Pricing: Streamlining RFP and Pricing Workflow for Logistics Service Providers

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 Intelligent Prescriptive Pricing: Streamlining RFP and Pricing Workflow for Logistics Service Providers - IoT ONE Case Study
Technology Category
  • Infrastructure as a Service (IaaS) - Cloud Databases
  • Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
  • Transportation
Applicable Functions
  • Logistics & Transportation
Use Cases
  • Last Mile Delivery
  • Transportation Simulation
The Challenge
The client faced challenges in analyzing variables that impact pricing and required an intelligent system that would predict the optimal price that aligns with business objectives. There was a need to improve efficiency in the existing RFP and pricing workflow. Delays in determining lane-level pricing and bid analysis for shipping contracts. Analyzing large amounts of internal and external data from various sources was time-consuming. Low bid win rate.
The Customer

US-based fintech company

About The Customer
US-based fintech company that offers a cloud-based customer success platform for logistics service providers. Their proprietary solution helps logistics service providers streamline the RFP process, minimize scope creep (unnecessary delay), and build customer relationships at scale.
The Solution
A cloud-based solution that ensures lane/pricing standardization, automates qualification, and integrates predictive pricing for informed decision-making. The solution comprises three modules: Shipper file processing, Pricing advisory, and Market intelligence. It enables stakeholders to upload the shipper's RFP and adjust settings such as tender ID, date, origin, industry, destination, mode, services among other parameters. The pricing advisory and market intelligence modules join forces to help streamline the end-to-end pricing process by validating prices from globally indicated benchmarks leveraging AI/ML capabilities.
Quantitative Benefit
  • 43% increase in overall bid win rate. 95% faster quoting. Highly accurate pricing forecasts.
  • 95% faster quoting by enabling standardized pricing across bids

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