Not all businesses have an
unlimited supply of capital to be pumped in all the time. Freight businesses do
have their crunch times, leading to some tight measures in extreme cases. While
bleeding revenue may have various reasons, identifying and fixing potential
leaks must always be a proactive requirement. Efficient management of finances
helps avoid the pitfalls of unwanted losses.
Quotations that drive in revenue
In the Freight Forwarding
market, a Request for Quotation (RFQ) is the first step towards building a
relationship with your potential customer. The purpose of freight RFQ is to
scout the market and get the best available service at the best possible price.
RFQ is also the first source of revenue and thus significant from a financial
perspective.
The right solution can help
you respond to a quotation, which results in a win-win outcome for your
customer, your vendors, and your organization. A freight forwarder needs to
take into account many factors to prepare the customer-specific quotations.
This includes port charges to container space booking, freight weight,
distance, and much more. Insights into your historical data and current trends
must influence your final proposal. ERP solutions like Logi-Sys help you in
making such informed decisions with an easy-to-navigate interface. Attractive
quotations are incentives for kick-starting the revenue stream for your
organization.
Gripping your expenses to manage better
Visibility into your
receivables and payables can give the basis for your decisions. With increased
cargo movements, your pending invoices get piled up, which can hinder your
ambition to grow.
Keeping track of your
expenses, consolidating various outstanding payments in one report is quite a
challenging task. But solutions designed especially for Freight Forwarding can help bring order to
an easily disorganized environment.
Streamlining for efficiency
A single solution for various
functions serves as a go-to place for organizations seeking simplicity.
Warehousing, Customs Clearance, Container Freight Station, Sales, Finance, and
Accounting can all have a central accessibility point. Choosing to go with
individual solutions makes it an expensive affair in terms of costs,
accountability, and time.
Business decisions require
awareness of the performance of each of the functions. This information, if
readily available, complements quick decision-making. Logi-Sys provides the
Sales and Marketing modules that measure activity from Marketing Campaigns,
Revenue Targets, Leads, and Opportunities to Client Acquisition.
Accurate trail of records
Logi-sys provides a Full-Fledged Accounting
System that is tightly-integrated with Operations and Sales. It facilitates
easy management of Credits, Cash Flow, Payment Cycle, and Tax Compliance
enabling Greater Financial Control. Approval mechanisms ensure second-level
checks within processes for data integrity. Activities including monitoring the
tasks performed by team members can be useful to the stakeholders to identify
efficient (and not-so efficient) performers.
An organization that has
visibility into its finances is capable of applying sound decisions backed with
data. Forecasting tools available with solutions like Logi-Sys empower your business to manage and
surpass your finance benchmarks.
Originally Published in Portcalls Asia Magazine
https://www.portcalls.com/uplift-your-freight-forwarding-business-by-streamlining-finances/
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