The 2023 Transportation Intermediaries Association (TIA) Capital Ideas Conference brought together the nation's leading freight brokers for a four-day event in Orlando, FL. Our Denim team attended for the first time and was among the approximately 2,000 attendees. The agenda promised and delivered education, networking, and insightful discussions.
We were thrilled to reconnect with many growing freight brokers we met last year, in addition to establishing new relationships. The mood was very positive despite the difficulties the industry is currently facing. The show of strength and perseverance of the freight brokerage community was inspiring.
Let's dive into a few of the highlights.
Pioneering Panels and Informative Discussions
TIA’s First-Ever Ports Panel
A dedicated ports panel was a conference first. Adam Angle was in charge of the discussion, which included East Coast Ports personnel Byron Miller, John Petrino, and Robert Peek.
The conversation centered around the intense pressure on the West Coast ports during the pandemic. Many TIA members faced disruption, prompting a shift of traffic to these East Coast ports.
Panelists discussed the ports' future growth ambitions and strategies for TIA members to enhance their business through port relationships.
Congressional Outlook Discussion
Congresswoman Kat Cammack joined TIA's Vice President of Government Affairs, Chris Burroughs, to address the supply chain and infrastructure projects in the U.S. They discussed the outlook for the 118th Congress and several key legislative initiatives.
Addressing Industry Challenges: Fraud in the Supply Chain
A burning issue that the conference addressed was the escalating incidents of fraud within the supply chain.
On the conference's concluding day, a panel discussion on double brokering brought industry experts together. The panel included Chris Burrough from TIA; Garrett Wolf from TriumphPay; Kenneth Lund from Allen Lund Co.; and John Miller from Plain Dedicated.
Kenneth Lund sounded the alarm on double brokering. He shared that "fraud had seen a staggering 300% increase over the last three months."
The panel emphasized the importance of direct communication with drivers as a potent strategy for combating double brokering. Lund stressed the value of this approach, stating, “Ask to talk to the driver. And if they say no, that’s a red flag.” This straightforward yet effective tactic can be essential in detecting potential fraud.
John Miller highlighted the necessity of a holistic approach in the battle against fraud and double brokering. He advised the audience to instill vigilance in their entire teams for driver verification, not confining this responsibility to carriers or dispatchers alone. “Ensure your clerical staff, the night dispatcher, and your entire team realizes the importance of verifying the driver,” he reinforced.
The panel discussion also underscored the FMCSA's lack of enforcement, which has resulted in approximately $700 million in fraudulent activity, as a crucial concern. The session emphasized the immediate need for industry-wide measures to address this alarming issue.
Looking Forward to TIA Technovations Conference
With the TIA 2023 Capital Ideas Conference behind us, we're already looking ahead. The insights, strategies, and discussions that took place have further fueled our drive to continue innovating freight payments.
The Tech Innovation Convergence in San Diego is set to offer more invaluable knowledge and networking opportunities. We're excited about what's to come and can't wait to continue the conversations that started in Orlando.
Until then, we remain committed to supporting freight brokerages and logistics companies with easy-to-use freight payments system and flexible factoring. We hope to see you at the next TIA events!