A digital solution for freight exchange
Vyom, India’s largest truck network, continues to focus on cutting-edge technology and keeping excellent customer experience as its topmost priority. We have now launched the Vyom Rate Exchange, which is India’s only freight exchange where one can view rates for all truck types and lanes.
Vyom Rate Exchange(VRE) opens up a new avenue in the logistics sector. In addition to the reliable and economical mode of operation through our platform, it would make the entire process much more convenient.
A brief description of how it works
Once you open the Vyom Booking App, you will see the rate exchange ticker at the top of the “add loads” screen. You can click or drag on it, to get to the Rate exchange screen. Here, you can see the rates for all truck types and lanes for that particular day. These rates vary depending on the market rate.
The ‘search icon’ helps you get rates for any specified truck type and lane.
Click on your preferred lane in the rate exchange. From here you can easily post loads, or enter your rate for that lane. VRE can be accessed through Web ERP as well.
Entering your rate gives you 2 benefits: The lane relevant to you will always be shown at the top of the rate exchange. Second, Lanes, where Vyom’s rate is better than your entered rate, will show up at the top. Green color indicates that Vyom rate is better than your entered rate.
The pricing engine will achieve better accuracy with every single transaction done on our platform. We aspire to provide India’s first live freight exchange that will act as the benchmark for market rates in the years to come.
Benefits for transporters and suppliers
In India, there are thousands of unique combinations of truck types, source, and destination locations. The rates for these combinations keep changing daily, subject to various demand and supply scenarios. Instead of collecting rate information from different sources, VRE would serve as the solution for all your queries and reduce the time involved in closing a transaction. Undoubtedly, it is a huge push towards digitalization by eliminating the manual phone calls for deciding the right price. Along with making the process less resource intensive and time efficient, it would ensure greater transparency and trust between buyers and sellers.