|Public (NASDAQ: ECHO)|
|Industry||Third-Party Logistics (3PL)|
|Headquarters||Chicago, Illinois, USA|
CEO: Douglas R. WaggonerCofounders: Brad Keywell & Eric Lefkofsky
|Revenue||$1,170,000,000 USD (FY 2014)|
Echo Global Logistics, Inc. (Nasdaq: ECHO) is a provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary, web-based technology platform that compiles and analyzes data from its network of over 30,000 transportation providers to serve its clients’ needs. Offering freight brokerage and Managed Transportation services across all major modes, Echo works to simplify the critical tasks involved in transportation management.
Echo was established as a logistics division for InnerWorkings, a web-based printing company in Chicago, Illinois. In 2005 InnerWorkings founder Eric Lefkofsky and business partner Brad Keywell expanded the logistics division into a Delaware Limited Liability Company (LLC).
In 2006 Douglas R. Waggoner became CEO of Echo, bringing with him extensive experience in the transportation industry. Waggoner had previously founded freight management software provider SelecTrans LLC, which he sold to Echo in 2006. As CEO of Echo, Waggoner has led the development of proprietary technology and algorithms to create multimodal transportation management solutions.
Headquartered in Chicago, Illinois, Echo has over 30 locations across the US. The company organically expanded by opening sales offices in Troy, Michigan; Atlanta, Georgia; Dallas, Texas; and Nashville, Tennessee.
Echo has also achieved growth through its M&A strategy, acquiring 19 companies for their mode expertise, geographical presence, technology solutions, and cultural fit. The company’s first acquisitions of Transportation Management Group (TMG) and BestWay in 2007 in particular established a West Coast and Pacific Northwest presence for Echo.
2010 brought five acquisitions. Freight Lanes International (FLI), DNA Freight, Lubenow Logistics, Resource Group Associates (RGA), and Distribution Specialists provided Echo with an expanded presence across the US and augmented its truckload, expedited, and LTL capabilities.
Since 2010 Echo has acquired Nationwide Traffic Services, Trailer Transport Systems (TTS), Advantage Transport, Sharp Freight Systems, Purple Plum Logistics, OpenMile, One Stop Logistics, Comcar Logistics, and Xpress Solutions.  Strengthening the nationwide presence of Echo, these acquisitions have also improved its technology solutions and mode capabilities, especially its skill in intermodal and temperature-controlled offerings.
Echo provides a full scope of transportation management solutions, which include truckload, less-than-truckload, intermodal, specialized services, international air and ocean, partial truckload, and small parcel.
Truckload: Truckload shipments require a full trailer to move. Echo maintains a prequalified network of over 30,000 truckload contract carriers and private fleets, allowing clients to ship using flatbed, dry-van, and temperature-controlled equipment.
Partial truckload: Working with thousands of consolidators, Echo provides solutions for high-volume LTL shipments.
Less-than-truckload (LTL): Less-than-truckload shipments consist of six pallets or fewer, weigh less than 7,500 pounds, and take up 12 feet or less of trailer space. Echo has partnerships with national and regional LTL carriers that provide a wide range of services at pre-negotiated prices.
Intermodal: Echo has long-standing relationships with intermodal rail providers (including Union Pacific, CSX, Canadian National Railway, and BNSF Railway) that have a capacity of over 100,000 dry-van and temperature-controlled containers.
Specialized services: Echo provides specialized transportation management solutions that include expedited shipments, volume shipments that are more than five pallets or over 6,000 pounds, white glove/final mile deliveries, and residential deliveries.
International air and ocean: For international shipping, Echo provides access to a prequalified network of freight forwarders as well as tariff and customs information.
Small parcel: Echo analyzes its clients’ small parcel activity, provides customized reporting, and helps with carrier selection and negotiation, freight bill pay and audit, and filing Guaranteed Service Recovery (GSR) claims.
Echo also offers a Managed Transportation solution. Flexible and fully customizable, it allows Echo clients to leverage the company’s large network of transportation providers. Echo constructs each Managed Transportation solution specific to the client, using a process of design, sourcing, execution, and business analytics. Each solution includes a complete audit of the client’s transportation spend and process, a full savings analysis, and a dedicated account team that manages everything from one mode to the client’s full transportation network.
Other logistics services Echo offers include rate negotiation, routing compliance, shipment execution and tracking, freight bill audit, and payment and performance management. The company also employs a carrier qualification process based on established vetting procedures and a set of safety criteria that carriers must meet. Echo monitors its carrier database with integrated technology, which alerts the company to changes in a carrier’s insurance, operating authority, or safety rating. It utilizes third-party resources standard in the logistics industry to complement its carrier vetting procedures.
Designed in-house by engineering and transportation experts, the technology used by Echo is flexible, scalable, and highly integrated. It not only provide clients with full transparency into their logistics network and spend, but also allows parties throughout the shipment process to operate from portals on the same platform.
Echo provides both web-based and mobile technology. Its suite of web-based applications include:
Mobile applications include:
At Echo community involvement and volunteerism have helped develop the company’s culture. Its Corporate Citizenship Committee helps employees give back through volunteer opportunities such as blood drives, food drives, tutoring, environmental cleanups, medical research fundraisers, and community service events.
Echo commits to the environment through its membership in the U.S. Environmental Protection Agency’s (EPA) SmartWay Transport Partnership. As a certified EPA SmartWay Partner, Echo provides clients with alternative equipment and service options for over-the-road shipping that reduce their supply chain’s carbon footprint.
Echo has been consistently recognized as a top third-party logistics provider (3PL) and has received industry, business, and workplace awards dating back to 2007, including: