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Risk Factors: Carrier Vetting Simplified Without Sacrifice

Risk Factors: Carrier Vetting Simplified Without Sacrifice

Vetting Carriers is Easier

With Risk Factors

Start a FREE 14-day trial.

LEARN MORE

Just when you think you’ve got a handle on fraud, scammers get sneakier, smarter, and even more insidious, using increasingly sophisticated tactics to wreak havoc on your livelihood, your reputation, and your financial stability.

While the potential for fraud continues to pose a very real threat with disastrous consequences, you also need to be cognizant of a carrier’s status and behavior—which can change in a heartbeat. A carrier’s status can change from “good to go” to “risky” faster than you can detect it unless you have a carrier vetting tool in place that draws from the industry’s most comprehensive dataset to capture and retrieve the most up-to-the-minute information available.

The devil is in the data

The freight industry has a data problem. Risk detection and fraud mitigation products are only as good as the data they draw from. If you only have certain data—and too little of it—you don’t know what you don’t know. It falls short of providing the breadth you need to do an exhaustive search—and anything less leaves you open to undetected vulnerabilities. Then there’s data that’s just plain bad. Outdated, incorrect, and misleading. Low-quality data can lead to irreversible damage to your reputation as a broker and pose an existential crisis to your business. But what about too much data? Is there such a thing as too much data?

The answer is both yes and no. As a broker today, you need to make informed decisions—and fast—in order to cover as many loads in a little time as possible. That’s how you grow your margins and achieve profitability. But that data needs to be sorted out.

What’s relevant? What should I look for? Fraud comes in many shapes and sizes, and it takes an expert to know every indicator. Mounds of data are great, but only to the extent that you can make sense of it.

Introducing Truckstop Risk Factors

To help protect your business while making speedy hiring decisions, you need access to every quality data point available—and a tool that helps you find the needle in the haystack quickly. That’s why we developed Risk Factors, the only carrier vetting solution that analyzes Truckstop’s vast data—data drawn from our load board, RMIS, and the FMCSA—so you can tap into the carrier data points you need to pinpoint potential fraud indicators. Only Risk Factors delivers the latest, most comprehensive insights on VoIP, VIN, IP address behavior, and more. In fact, Risk Factors is the only solution that includes IP risk-detection using Truckstop’s behavioral pattern recognition.

Risk Factors is the only risk-detection and fraud mitigation tool that analyzes Truckstop’s vast proprietary, licensed, public data. Based on this information, it then delivers a summary of a carrier’s risk indicators in one easy-to-read, color-coded bar, a convenient visual indicator that assesses carrier risk, and color codes it into categories: High, medium, and low risk. From that summary and the information therein, even the newest member of a carrier procurement team can decide whether to hire, vet that carrier further, or discontinue the relationship with the carrier altogether. This functionality goes a long way toward helping brokers build and grow carrier networks they can trust.

And Risk Factors is constantly getting smarter. If a new or existing dataset is identified as pertinent in mitigating risk, that data is pulled into Risk Factors.

 

At your fingertips, in your workflow, Risk Factors takes the industry’s highest quality, most comprehensive data, analyzes it into an easy-to-understand summary, and delivers it right to where you’re working. Risk Factors carrier vetting is accessible through via Outlook Add-in, Chrome Browser Extension, Microsoft Browser Extension, or API so you can work seamlessly on any web page, including Gmail, Outlook web, and your TMS. You and your team can say so long to wasted time checking across disparate tools and hunting through multiple screens looking for risk indicators. Now you can vet and hire carriers in real time—in a matter of minutes.

Safeguard your business with industry-leading fraud fighters

Since the pandemic and, subsequently, the freight down cycle, bad actors have been on the rampage, increasing in prevalence and putting both revenue and reputations at risk. Truckstop has been hard at work since day one, vetting every person, entity, and business that attempts to join the Truckstop platform through our load board or any other product.

We employ an entire team dedicated solely to keeping fraud out of our network. In fact, we were hand-picked by the F.B.I. to be part of the task force dedicated to keeping crime out of the freight industry. With nearly three decades of compliance management, our experts know which data matters, why it matters, and when it matters.

Don’t leave your business vulnerable to risk. Take advantage of our FREE 14-day trial and experience how Truckstop Risk Factors can seamlessly integrate into your workflow. With easy access to the most current and relevant carrier data points, you’ll be equipped to mitigate risks and fight fraud effectively. Don’t wait – start protecting your business and reputation today with Truckstop Risk Factors.

Vetting Carriers is Easier

With Risk Factors

Start a FREE 14-day trial.

LEARN MORE

FAQs

No, neither Truckstop nor Risk Factors can tell you whether to hire a carrier. Risk Factors presents you with context and factors to consider in your assessment of potential risk associated with a carrier. You should review why a carrier is High, Medium, and Low to decide your risk tolerance and whether you should move forward with a carrier. Additional diligence is always recommended.
We’d rather you know about carrier changes than let a possible bad actor through your gates. High, Medium, and Low is provided based on the data Truckstop possesses and receives. If we see a change, like a contact information change, a carrier’s risk indicator can change from Low to Medium. Read the Risk Indicators, discuss changes with your carriers, and make the relationship decision that’s right for you.
We have an entire team dedicated to helping keep fraud out of our network. With nearly three decades of compliance management, our experts know which data matters, why it matters, and when it matters. This expertise has gone into developing algorithms to review and assess publicly available and proprietary data for signals of potential risk and to generate risk reports.
Neither Truckstop nor Risk Factors can tell you whether to hire a carrier. We believe you know your business best and have different carrier requirements and risk thresholds for each load. A carrier’s risk level indicates data changes that brokers should be aware of when making hiring decisions. You should always conduct additional vetting in line with your carrier selection policies before hiring a carrier.
Yes, Risk Factors analyzes inspection data provided by Truckstop inspection data providers. If you would like to view inspection history details or reports, please reference tools with inspection information, like Truckstop’s RMIS.
No. Only carriers with an active DOT with the Federal Motor Carrier Safety Administration can be assessed. MCs, phone numbers, and email addresses need to be associated with a DOT for data to be retrieved.
Carriers with broker authority may operate their business differently relative to entities with carrier-only authority. This may mean more frequent changes to contact information or changes in the behavioral data that we analyze from the Truckstop ecosystem, which may result in different risk assessments for carriers with broker authority vs. carriers without.
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