Banyan Technology granted patent for software solution

LIVE Connect platform offers innovative rating and dynamic pricing

Banyan Technology, the industry leader in live carrier and API connectivity for transportation management, has been granted a patent for its rating and dynamic pricing software in LIVE Connect, Banyan’s exclusive data connectivity platform.

“We’re excited to be granted this patent for our innovative technology solution that helps clients easily reduce their freight costs while allowing carriers to offer dynamic pricing,” said Brian Smith, CEO of Banyan. “Hats off to the creativity and tenacious efforts from our amazing product and software development teams who helped us reach this milestone.”

U.S. Patent Number 11,100,452 is the first issued for software in the LIVE Connect platform, which is described as “customized integrated pricing packages for freight shipment” by the U.S. Patent and Trademark Office. Banyan’s clients have been benefitting from the newly patented rating and dynamic pricing software for almost two years.

“Banyan is consistently innovating our technology to cater to the needs of our clients,” Smith said. “With their guidance, we will continue to provide new solutions to push the industry toward digitalization.”

Banyan recently announced the release of its QuickShip feature within the LIVE Connect platform. It is a self-serve resource developed in collaboration with clients to position 3PLs and Shippers to manage rising TL/LTL and parcel freight costs. Additionally, QuickShip helps users navigate the inbound and outbound freight procurement landscape saving clients more than 10% on their freight spend.