Risk Factors: Carrier Vetting 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 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 Outdated, incorrect, and misleading.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.

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.