Optimal Dynamics, the pioneer in artificial decision intelligence for trucking companies, today announced impressive growth for the first half of 2024, ending July 31, driven by accelerated customer deployments, new customer acquisitions and significant operational efficiency improvements. This achievement marks a key milestone in the company's trajectory and scalability and underscores its commitment to innovation and customer satisfaction.
Key Highlights From First Half of Fiscal Year 2024:
• Customer Base Expansion: Grew customer accounts by 30%, expanding its reach throughout the Top 100 For-Hire Carriers in North America, while reducing acquisition costs by 42% through increased customer referrals.
• Product Innovation: Introduced new additions to its platform including Source, a more efficient and profitable spot freight procurement tool. Nearly 20% of customers have already added Source to their Optimal Dynamics investment.
• Operational Efficiency: Improved gross margin by 58% through faster deployments, infrastructure improvements and accelerated time-to-value resulting from focused process optimization.
Dozens of the industry’s largest and best-run truckload carriers have deployed Optimal Dynamics to automate and optimize decisions across strategic planning, bidding, load allocation and dispatching. The company continues to sign on new enterprise and mid-market carriers each month including CRST, Grand Island Express, Leonard’s Express, Muñoz Trucking, Ploger Transportation, Stevens Trucking, and more. Optimal Dynamics customers have reported significant successes, such as redeploying 80% of planners away from routine tasks to high-value initiatives, and achieving 100% adoption of automated load assignment and dispatching decisions.
“I can’t say enough about our early and fast success with Optimal Dynamics! We’re doing things in the middle of a freight recession that are unprecedented. Participation in any recession is optional and Optimal Dynamics is proving that!” — Deen Albert, VP of Operations, Grand Island Express
"After extensive market research and vendor evaluation, we found Optimal Dynamics to have the science, the technology, and the team to transform our internal operations.” — Michael McGovern, Executive VP, Leonard’s Express
“We are driving the first decision automation use cases in the industry. In our ongoing commitment to revolutionize logistics, Optimal Dynamics proudly embraces our new identity as 'The Decision Company,' reflecting our core mission to empower customers with smarter, automated decisions,” said Daniel Powell, CEO and co-founder, Optimal Dynamics.
Beyond expanding its roster of satisfied customers, Optimal Dynamics continues to innovate by enhancing its decision intelligence platform and developing new tools that expedite customer deployment. With the launch of Source, Optimal Dynamics ensures that spot freight selection becomes a strategic process optimized for each unique truckload network and focused on maximizing utilization and profitability. Optimal Dynamics continues to increase its average deal size as it adds additional value to the platform and proves out ROI success with speed.
The introduction of new internal tools have led to unparalleled industry results, including reducing data mapping processes from three weeks to three hours and cutting customer deployment times from 90 days to 30 days. Optimal Dynamics' strategic focus on data architecture and scalability has driven consistent platform usage and faster deployments, making its solutions even more valuable to customers.
"Our focus on operational efficiency and speed-to-value has been instrumental in driving our recent success," said Scott Kenerly, CFO of Optimal Dynamics. “The customer feedback has been extremely positive as we work together to quickly build trust, manage internal transformation, and align on goals and reporting. We are seeing some of the highest rates of return in the shortest amounts of time for our customers.”
This continued momentum for "The Decision Company" underscores Optimal Dynamics' leadership in the logistics technology space, positioning the company for sustained success and market outperformance.
