Yahoo Finance Tenstreet Acquires Vnomics and True Load Time to End Excessive Fuel Spend, Detention Delays
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TULSA, Okla., April 27, 2022 (GLOBE NEWSWIRE) -- At Tenstreet's 2022 User Conference, CEO Tim Crawford announced the acquisition of two powerful disruptors in the transportation industry, Vnomics - a fuel optimization solution - and True Load Time (TLT) - a load-time management technology. Both companies were born of trucking industry visionaries who experienced the detrimental effects wasted fuel and load-time inefficiencies had on drivers and carriers alike.
These acquisitions will introduce new ways to help Tenstreet clients retain valuable resources typically lost from excessive fuel consumption and driver detention time while helping to alleviate drivers' daily frustrations and reduce turnover.
Since Tenstreet's acquisition of Stay Metrics in November of 2020, Tenstreet has been expanding its engagement and retention strategies to help for-hire and private fleets reduce turnover costs and retain drivers through engagement. Tenstreet uses driver surveys to systematically collect feedback from drivers so carriers have the opportunity to correct problems drivers face in the field, ultimately helping their clients to make better data-based decisions while improving driver satisfaction and retention rates.
Maximizing Profits and Reducing Turnover Through Improved Efficiencies
Through the contributions of preferred freight brokers, carriers, and transportation management systems, Tenstreet's Driver Pulse app will be equipped to include TLT shipper surveys that will assist in building a database capable of portraying near real-time detention delays across a growing number of shippers nationwide. With greater transparency, carriers will be able to make more informed decisions to maximize equipment efficiency and driver revenue, improve safety, and enhance driver satisfaction.
Vnomics (short for vehicle economics) helps to improve driver behavior through real-time in-cab driver coaching to reduce fuel spend for any fleet-type, under any operating conditions. A self-described "rumble-strip for fuel efficiency," Vnomics' True Fuel® is an additional application layer that sits on a carrier's existing telematics solution. By targeting behavior -- not just MPG -- to evaluate driver performance, carriers gain key insights into fuel and driver performance to grow more fuel-efficient. As performance improves, drivers will be incentivized through the Tenstreet Rewards platform, on which they can redeem points for items like electronics, home goods, movies, tools, and more, creating a "sticky" factor for a more dedicated fleet.
Both True Load Time and Vnomics' acquisitions augment Tenstreet's retention and engagement services by reducing the friction drivers encounter while also increasing profitability for carriers.
About Tenstreet
Tenstreet's platform connects carriers and drivers, making it easier to fill trucks while staying compliant. They help thousands of motor carriers and private fleets to market, recruit, onboard, manage, and retain drivers. Since 2006, millions of drivers have used Tenstreet's platform to quickly and securely apply for their next job.
CONTACT:
Leah Kelly, Marketing Director, leah.kelly@tenstreet.com
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