How does the new FireXgo freight exchange work?
7 minutes readingNovember 12, 2024 / Author: fireXgo Team
7 minutes readingNovember 12, 2024 / Author: fireXgo Team
The freight exchange is a place where you can post your freight offers if you are a freight forwarder or win assignments if you are involved in freight transport. What makes fireXgo distinct from other exchanges? Get to know how the fireXgo freight exchange works, what the benefits for forwarders and carriers are and how to use this platform effectively for organising your transport.
The fireXgo freight exchange is integrated into the fireTMS freight management system. This means that its users can not only issue a freight offer or win a freight assignment, but also manage these assignments within one all-in-one programme. For forwarders, this will involve freight management both before placement on the exchange and afterwards until settlement. Carriers can manage assignments from acceptance to freight delivery as well as to settlement.
The fireXgo freight exchange works based on freight offers for transport issued by forwarders. You can access offers by logging in with fireXgo or fireTMS in the relevant view. Forwarders issue an offer, providing its details; carriers review the list of offers and may accept the transport of goods based on the estimated profit the assignment will bring or the potential for the assignment to be treated as a topping-up on an already planned route so as to reduce transport costs. This can include, for instance, reducing empty mileage on already contracted transports. When finding an appropriate freight offer, the carrier notifies its interest in the offer and proposes its service; later on, the carrier can agree further assignment details with the freight forwarder via chat.
Who are fireXgo freight exchange users? As we have mentioned previously, these are both forwarders and carriers. Forwarders are those in charge of organising the transport of a particular freight from one place to another. Carriers are representatives of road haulage companies seeking transport assignments. Forwarders have the option of issuing freight offers, while carrier can accept assignments.
Using the fireXgo freight exchange brings a number of positive effects, which are mainly due to the integration of the exchange with the TMS. The fact that the freight exchange is located in the same place as the freight management programme eliminates the need to transfer information between or integrate the two solutions. But the list of benefits of working with fireXgo is longer.
We have previously mentioned empty mileage or assignments that could be more profitable if only more freight could be transported in a single run. The exchange helps to solve both problems, so significant for freight companies. Being able to find assignments at a similar time and on a similar route to those already contracted can lead, for instance, to better use of semi-trailer space, as you can transport more freight and earn more money.
The situation is similar for return trips. The freight exchange allows you to find assignments for transporting your freight from your point of unloading to locations around your transport base. As a result, while the costs such as fuel and vehicle use stay more or less the same, you can earn more money.
Both placing freight offers and accepting assignments on the exchange is an excellent solution to use your resources more efficiently. Forwarders can undertake to organise the transport of more freight, as they can quickly identify carriers to transport the goods. Carriers, in turn, can reduce the number of downtime days for their fleet by finding assignments on an ad hoc basis.
Searching for assignments on the fireXgo freight exchange is a major workflow aid for carriers, as they do not have to source assignments by, for example, finding contacts and sending enquiries with a freight assignment. With instant access to the freight assignment database, you can quickly find an assignment and complete a transport agreement with a freight forwarder, even within a few moments of logging on to the system.
Carriers using the freight exchange are able to quickly find suitable offers that match their criteria such as type or size of load, date and route. Thanks to the list of offers and the details provided by forwarders, you can quickly find the right assignments. This assignment model also allows carriers to optimise their routes: not only can they look for additional assignments along the way along a pre-planned transport route, but they can also use the offers to plan optimum transport routes for themselves, using the assignments acquired on the exchange.
Now that you know how the fireXgo freight exchange works, it is time to explore its features. They make it easy to issue freight offers and accept transport assignments.
This option is primarily intended for transport companies, to enable them to win assignments efficiently. If you are a carrier, just go to the freight exchange basic view. There you will find a list of freight offers issued by forwarders, with details about the assignment subject and issuer. This basic details will allow you to quickly verify whether the selected offer meets your criteria.
With the fireXgo exchange and fireTMS being integrated, you can also check whether you have a shared assignment history with the forwarder if you both use fireTMS and thus additionally enhance the security of your transactions. Additionally, by chatting with the offeror, you can find out further assignment details right away, negotiate terms and conditions and ultimately accept the assignment.
Since the fireXgo freight exchange is linked to the fireTMS system, assignment management requires no additional work, such as transferring data between programmes. With the integration of the fireXgo exchange into fireTMS, both forwarders and carriers can handle assignments in a comprehensive manner: all the way through to cargo freight closure and settlement.
The option of issuing freight offers is available to forwarders. If you have freight and are looking for a carrier, all you have to do is enter an offer and then post it on the fireXgo exchange. The offer data will be visible to carriers once published. When issuing an assignment, you also have access to a chat room, where carriers can contact you to find out details and negotiate assignment terms The chat function significantly accelerates and improves communication between parties.
Using the fireXgo freight exchange is simple and intuitive. To start issuing freight offers or accepting assignments, you need to sign up for an account and go through a company verification process. It is simple: all you need to do is give us your company’s basic details for verification and we will do the rest.
The first step in using the freight exchange is to register an account. To do so, click on the “Check it out” button in the menu of our website or use this link to access the registration form. Then give us basic details about your company, express the required consents and submit the data. Then, you will get 14 days free access to the fireXgo exchange and the fireTMS system.
Check out how fireXgo works now! Register and start testing!
If you choose to make active use of the fireXgo exchange and place offers or accept assignments, you will need to undergo company verification. In the exchange view, you will see a “Verify company” button; when you click on it, you will be asked to enter the company’s details. We will use the details to verify you so as to make sure that freight exchange users are safe.
Information needed to use the fireXgo exchange
In conclusion, in assignment to use the freight exchange, it is important to remember a few basic things:
Given that the fireXgo freight exchange is integrated into the fireTMS system, exchange users do not have a separate account. Find out about how to configure the system, including how to add users and company branches and how to manage the whole thing, in the fireTMS knowledge base.
The fireXgo freight exchange is a tool designed for both freight forwarders and transport companies. This does not mean, however, that both can use it in the same way. fireXgo is tailored to the nature of their business. If you have freight or a transport assignment, you can place an offer on the exchange. If you have vehicles and are looking for customers, you can search for offers and express your own interest in offers, but you cannot place a transport offer.
While issuing freight offers is part of the freight forwarder’s job, it is carriers who review them. The searchable list of freight offers with the option to search for tailored assignments is primarily intended to support transport companies, which, based on their chosen filters, can find suitable offers on fireXgo and undertake freight transport.
Both forwarders and carriers are free to use a convenient solution for quick communication when arranging assignment details. With the chat with forwarders issuing offers, you can exchange information and agree transport conditions without the use of additional tools. Thus, fireXgo helps both forwarders and carriers save time in arranging details by phone or e-mail.
With fireXgo being part of the fireTMS system, routing and freight cost calculation can also be done faster and within one system. Forwarders can use the maps available in fireTMS, including advanced Here maps, for estimating the freight service fee, while carriers, who also have access to these tools, can optimise routes accordingly to minimise their own costs.
There are a number of freight exchanges on the market, from the largest ones with a global or European reach to the small, local ones. The owner of each will set the terms of use, including fees for access to the freight exchange.
Free exchanges often require no registration or user data verification, something that poses a risk of losses due to unreliable counterparties. For this reason, it is important to prevent potential fraudsters from accessing the exchange, e.g. through data verification and a fee for accessing the freight exchange.
The fireXgo freight exchange is integrated with fireTMS, so new and existing customers can benefit from a special offer by the end of 2024 and get access for free for the whole of 2025 by paying just the system subscription fee. In addition to the fireTMS subscription fee, access requires a positive company verification, as mentioned above. What makes fireXgo stand out from other freight exchanges is that it also has access to the fireTMS system, which will help you manage your transport in a comprehensive way.
The fire TMS fees vary depending on the package purchased, which can be tailored to the scale of the company’s business. All information is available in the price list. Any new user can obviously test the exchange for free for 14 days after registering.
A freight exchange is a solution that is suitable for any forwarding or transport company no matter what its size. This is due to fireXgo’s integration with fireTMS and its diverse subscription plans, as well as its ability to adapt the system to the nature of the company’s business. Also, the freight exchange feature offers great support for small, medium-sized and large companies.
Everything depends on the number of offers on display at any given time and the carrier’s requirements and capabilities. A sound search strategy is to stay flexible, e.g. it is a good idea not to restrict yourself to specific routes or cargo types. It is possible that even a slight expansion of the requirements will result in a suitable offer being found more quickly.
Yes, the fireXgo freight exchange encompasses the whole of Europe. Companies from all over the continent can place offers and accept assignments; like the entire fireTMS system, the exchange can be accessed from anywhere in the world. With fireXgo, you can organise freight shipping on any route in Europe.