Venture capital and private equity investors have poured billions into the trucking and logistics (T&L) industry to fund startups whose aim is to digitize the load-matching process. Most of these investments are not going to companies that are on a mission to help small motor carriers automate core operational processes like booking loads, analyzing key performance metrics, driver payroll and invoicing. “I don’t think that investment has flowed into the real base level, the building blocks of truckers,” said Matt Cartwright, chief executive of Magnus Technology Group. Recent developments by technology companies are filling a void with new tools for small fleets to find, analyze and plan loads using cloud-based transportation management software (TMS). Many small fleets still use client-server software that lacks the ability to integrate with load boards and digital freight matching platforms, said Cartwright, who founded Magnus Technology 20 years ago in Austin, Texas.
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