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Echo Global Logistics Adds TruckPark Parking Services

Echo Global Logistics (NASDAQ: ECHO) is upping the value of its EchoDrive Preferred service through a strategic partnership with TruckPark.

Benzinga · 05/19/2020 22:10

Echo Global Logistics (NASDAQ: ECHO) is upping the value of its EchoDrive Preferred service through a strategic partnership with TruckPark. The program will give Preferred members access to TruckPark's network of overnight commercial truck parking resources at a discounted rate.

EchoDrive Preferred is a complement to Echo's proprietary EchoDrive web portal and mobile app that gives carriers real-time access to search, bid, manage, track and get paid on freight hauled for Echo.

The partnership will give EchoDrive Preferred members a 50% discount on parking for owner-operators and fleets with one to five trucks, and a 25% discount for company drivers and fleets with six or more trucks.

"At Echo, we're continuously working to simplify the lives of those in our carrier and driver community, especially during these unprecedented times," said Dave Menzel, president, and chief operating officer at Echo. "As the effects of COVID-19 continue to impact truck drivers across the country, we're proud to partner with TruckPark to help EchoDrive Preferred members save time and money when searching for parking."

TruckPark offers safe truck parking for drivers around the country. Drivers (or fleets) can reserve spaces for drivers at its network of commercial lots for a fee. The average cost is typically around $15 per night.

TruckPark added thousands of spaces to its network in 2019 through partnerships with several parking lot owners, including a deal with Storemytruck.com that promises to add more than 100 locations over the next two years. 

"At TruckPark, our company is predicated on providing the best experience for truck drivers, which includes the health and safety of drivers as well as the security of their payloads," Anthony Petitte, TruckPark CEO, said. "Having access to Echo's vast carrier network gives us the ability to greatly enhance the driver experience."

Jay Gustafson, senior vice president of marketplace solutions at Echo, said providing access to parking results in more productive drivers.

"We know finding safe and secure overnight parking can be difficult and time-consuming for many of the drivers in our network," he said. "In fact, a recent survey of Echo drivers showed that on average, they spend about 11 hours a month looking for parking, a substantial amount of time they could instead be using to earn money on the road. By reducing the time it takes for drivers to secure parking, this partnership can truly help EchoDrive Preferred members earn more money over the course of a year."

The addition of the TruckPark parking platform is a continuation of value-add services to the EchoDrive platform. Earlier this year, Echo added Preferred Lanes and Suggested Loads to the platform.

Preferred Lanes and Suggested Loads are designed to improve the load-booking process by assuring carriers receive loads that fit their needs. Preferred Lanes allows carriers to set up a profile of lanes they run regularly and get notifications when shipments in these lanes are available.

Similarly, Suggested Loads improves backhaul opportunities by suggesting shipments to fill empty trailers for Echo customers. Carriers can also choose to get alerts when they do a search for available shipments. Any time freight becomes available that matches that search, they are notified.

EchoDrive Preferred members also benefit from enhanced payment terms based on a carrier's relationship with Echo and discounts on truck leases, preventative maintenance programs, and rental equipment, as well as discounts on fuel, maintenance, roadside service and more. 

Photo provided by FreightWaves.