Denim co-founder & CEO, Bharath Krishnamoorthy, had a chance to sit down with Chris Jolly on his podcast Coffee w/#TheFreightCoach to discuss the story of Denim and how we’re helping freight brokers grow faster by automating their back-office operations. Let’s dive into the interview!
How Denim Got Started
B begins by talking about how he started his journey into the realm of transportation. Shawn Vo, co-founder & CTO, is B’s best friend since high school. Together, they wanted to build something big and meaningful.
A few years back, B was working as a corporate lawyer in NYC while Shawn lived in DC. They’d take buses back and forth to visit each other when they came to the realization that they wanted to create a valuable pricing and scheduling solution for the bus system. With that, BusBot was born, but it wasn’t scalable.
During that time, they met many founders and investors working in transportation and tech. They realized that freight transportation is a lot more interesting, very diverse in the problems you can solve, and there’s a lot of room for growth and value.
This new project was one that they’d feel good about working on for the next ten or so years and allowed them to address one of the industry’s most salient pain points: cash flow problems. There’s a massive market for freight brokers and they would have the opportunity to resolve the mismatched timing of payments. They’d be making an impact.
“Having the right partners is imperative”, says The Freight Coach. He goes on to ask B about what exactly Denim has to offer as a factoring company for freight brokers.
What Denim Offers
“For one,” says B, “Denim makes it easy for freight brokers to attract and retain carriers through QuickPay. Two, Denim automates critical financial operations, taking the work off freight broker’s plates and guaranteeing that it’s correct. Finally, Denim unlocks the power of data, integrates with brokers’ TMS systems, and shows you where you should be investing your time.” Denim’s goal is to empower clients with data so they can identify and focus on what brings them the most value.
B says that freight brokers should be spending time making sure they have great shippers and carriers working with them, they shouldn’t be wasting time on back-office operations that contribute to a significant loss as they are unable to spend that time on growing their business.
When working with Denim, the average client grows their business 2.3x in their first year, often more. This is attributed to the immense time savings Denim provides that is quintessential to the success of a freight brokerage.
So what’s next?
B plans to build out more automations in the coming months and provide further intelligent recommendations on data, making it easier for freight brokers to make smart decisions.