Risk Factors: Carrier evaluation simplified without sacrifice

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 risk assessment 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 Outdated, incorrect, and misleading.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, a fraud mitigation tool 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 help surface potential fraud indicators. Risk Factors draws from Truckstop’s proprietary load board data, RMIS, and FMCSA records—a combination no other tool can replicate—including IP risk-detection powered by Truckstop’s behavioral pattern recognition built from nearly three decades of industry data.

Risk Factors is the fraud mitigation tool that analyzes Truckstop’s vast proprietary, licensed, and 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. From that summary and the information therein, even the newest member of a carrier procurement team can decide whether to hire, evaluate 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 is accessible 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 evaluate and hire carriers in real time—in a matter of minutes.

Safeguard your business with industry-leading fraud fighters

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, detecting and combating fraud across our network—and we take that responsibility seriously. We employ an entire team dedicated to this work alone. In fact, Truckstop has collaborated with the F.B.I. on task force efforts to address fraud and crime in 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. 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 make informed decisions and help fight fraud effectively. Don’t wait—start protecting your business and reputation today with Truckstop Risk Factors.

Request a free demo