CHICAGO, June 16, 2022 (GLOBE NEWSWIRE) -- Sleek Technologies, leaders in freight procurement automation, today announced it has been recognized as “Procurement Solution of the Year” by SupplyTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products and services in the supply chain technology and logistics industry around the globe.
“What an honor it is to be singled out in the SupplyTech Awards program. Our automation technology was designed to disrupt and advance freight procurement, and we’ve done just that! Our growing customer base is reducing truckload cost by 10-20%, while delivering 97%+ OTD regardless of market conditions” said Mike Nervick, CEO and Co-Founder of Sleek Technologies. “We’ve figured out how to automate the $700B trucking industry. With AI-powered technology and 100% data transparency, we uncover resilience, sustainability and cost reduction opportunities that empower shippers to always deliver the products the world wants and needs on time, and at fair market price.”
Sleek Technologies has advanced freight procurement by replacing inefficient manual processes– such as RFPs and brokers– with freight procurement automation technology that offers the most comprehensive load matching solution in market. By automating freight procurement, shippers can effectively manage the unpredictable freight market to always deliver goods on time, at fair market price.
As a load becomes available, freight capacity is expanded dynamically. 80+ configured shipper attributes, predictive AI algorithms, and a system of measures to gauge the likelihood of a specific driver’s interest in a particular load/ location are used to score carriers. Only carriers with “best match criteria” are granted direct access to bid on the load. By eliminating middlemen from the process, carriers set transparent market pricing and shippers understand the true market price to ship the load.
Sleek’s advanced freight procurement analytics provides 100% transparency so shippers can make stronger, data-driven decisions. With a complete 360-degree view on truckload activity, shippers can easily optimize their carrier network by knowing which carriers to keep, add, or drop. Shippers also understand which factors impact load cost so that proper optimizations can be made. Meanwhile, executive-level reports empower the transportation team to effectively report out and upward to leadership.
Additionally, Sleek is the only freight procurement solution in the world that provides truckload savings back to the shipper when carrier bids fall under the shipper’s asking price. The pricing structure is also 100% transparent with no hidden costs, and a fixed licensing fee and optional fixed services fees. Lastly, Sleek’s customers are averaging 97%+ on time delivery (when the industry average was closer to 60-70%).
The mission of the annual SupplyTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions and products in the supply chain and logistics industry today. This year’s program attracted more than 1,200 nominations from over 15 different countries throughout the world.
“The old linear freight procurement process no longer works because it relies on a small group of contracted carriers, and when they reject loads, the process then relies on non-transparent brokers who increase cost by 20-30%,” said Bryan Vaughn, Managing Director of SupplyTech Breakthrough Awards. “Sleek's AI-powered automation software has transformed freight procurement from static to dynamic. Unlike contracted carriers or freight brokers who cherry pick loads based on potential profit, Sleek’s technology dynamically matches loads to compliant, asset-based capacity at the right time, location, and price. In a year where every minute counts in the supply chain, we’re thrilled to award Sleek Technologies with ‘Procurement Solution of the Year.’”
About Sleek Technologies
Sleek Technologies is the market leader in freight procurement automation. With AI-powered technology and 100% data transparency, we uncover resilience, sustainability, and cost-reduction opportunities that empower shippers to always deliver products on time, at fair market cost. To join other shippers who have automated freight procurement, please visit www.sleek-technologies.com.
About SupplyTech Breakthrough
Part of the Tech Breakthrough organization, a leading global provider of market intelligence and recognition platforms for technology innovation and leadership, the SupplyTech Breakthrough Awards program is devoted to honoring innovation and market disruption in supply chain & logistics technologies, services, companies and products around the world. The annual SupplyTech Breakthrough Awards provide public recognition for the achievements of SupplyTech companies and products in categories including Inventory Management, Supply Chain Visibility, Transportation Management, Material Handling, IoT and Robotics, and more. For more information visit SupplyTechBreakthrough.com
Media Contact:
Jaimie Kowalski
jkowalski@sleek-technologies.com
