In the world of spot quotes, there is an old saying: "Fast, cheap, or good—pick two." But in digital forwarding, if you aren't fast, it doesn't matter if you're cheap or good. You simply aren't in the running.
We analyzed data across thousands of spot quotes to understand the relationship between "Time to Quote" (TTQ) and "Win Rate." The results were stark.
The 30-Minute Cliff
When a shipper or importer sends out an RFQ via email, they typically send it to 3-5 forwarders simultaneously. The first response anchors their expectations. The second provides a comparison. By the time the fourth or fifth quote arrives hours later, the decision has often already been made.
RFQ Win Rate by Response Time
If you respond within 15-30 minutes, you aren't just one of the options—you set the price. You have the highest probability of winning the lane, often even at a slightly higher margin than latecomers.
The Cost of "Getting to it Later"
Most operations teams tackle RFQs in batches. They clear the inbox at 9 AM, again at 1 PM, and before they leave at 5 PM. If an RFQ lands at 10 AM and isn't seen until 1 PM, that 3-hour gap is where your margin erodes.
When you are late, the only way to win is to be significantly cheaper. You end up buying the business with lower margins because you lost the advantage of convenience.
Margin Erosion Calculator
Consider a standard lane with a potential $300 net profit.
- Scenario A (Fast Quote): You quote $300 margin. You are first. The customer accepts because they need to book now.
- Scenario B (Slow Quote): You quote 3 hours later. The customer already has a price of $280 margin from a competitor. To win, you have to undercut to $250.
That 3-hour delay cost you $50 in straight profit. Over 100 quotes a month, that is $5,000 in lost margin—purely due to speed.
How to Fix It
You cannot simply tell your ops team to "type faster." They are already maxed out with operations, documentation, and phone calls. The solution is automation.
By using AI to draft the initial quote response based on your rate sheets, you can bring your TTQ down from hours to seconds. Your team just reviews and hits send. You get to be the first responder without adding headcount.
Stop losing business to slower competitors just because they hit "Reply" faster.
← Back to Home