How to use the volatility index for static rate quoting
Using the Volatility Index on WebCargo, you can make informed decisions about the rates you use to quote your customers.
Within the quoting tool, available in the Professional & Enterprise pack types, you can view static and dynamic rates side by side to see how live rates are fluctuating in price in comparison to static, non-changing rates.
Find out in this article how you can use this tool.
Important: to have dynamic rates visible within the static rate quoting tool, you’ll need to enable them. To do this, please reach out to your account manager. You can speak to us from within the platform by clicking on the blue speech bubble, located on the left-hand side of the screen when you have logged in.
Once the Dynamic Quoting tool has been enabled, make a normal rate search. Do this by clicking on the Air tab, or directly from the home page.
Enter your shipment details, but make sure that you have selected the Add pieces option.
Once you have added your shipment information, click on the Rates button.
Once the rates have loaded, look out for options that have Dynamic next to them.
If Dynamic or real-time rates are available, you’ll see a button which states Show rates. Clicking on this button will make a call to the airlines systems and, if available, you will see the rates for the next 5 days, 3 days from the date entered when searching.
Next to the live rates for the next 5 days, there will also be an arrow visible. This arrow shows the volatility and trend of the live rates.
To discover what the arrows mean, click on Click to learn more. This will open up a more detailed view of the volatility and trends of the rate.
Important: The option to view the volatility of rates is only available for live, dynamic rates. Use this information to make informed decisions about what you will ultimately be quoting to your customer.
This helps to understand the risk attached to quoting with live rates and with an easy price comparison to your existing static rates from all carriers. If you choose to quote with a highly volatile dynamic rate, you may want to shorten your quote’s validity period substantially, increase margins to offset potential rate increases or use information on volatility to push a customer to accept your bid quickly.
You may also view other options available andadd your own rate for the quote.
WebCargo strives to give you all the data you need to make the best-informed decisions to provide best-in-class, accurate, fast quotes and a superior experience for your customers.
Click here to find out what the different arrows mean and the difference between the volatility of rates.
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