The fundamental aim of businesses is to help solve their customer's challenges and keep increasing sales. In a dynamic environment, retaining high customer satisfaction and growing revenue can get tricky. Customers in the freight industry are in a commanding position to get their demands fulfilled due to commoditization. This is because every freight forwarding company is offering a relatively indistinguishable set of services.
Due to commoditization, it is only natural for companies to offer lower freight rates. Companies must realize that just reducing prices doesn't bring in revenue. To power up revenue generation, all sources of expense and opportunities must be analyzed.
Using data points and freight forwarding solutions, companies can differentiate their offering to stand apart in the competition. To build a resilient business, you must target optimizing processes and improving your existing customer experience.
1.
Optimizing processes
Forwarders that don't have control and
visibility of the costs make only smaller profits with each shipment. The
problem often emerges from disconnected team communication and detached
processes. Using spreadsheets and desktop software makes it difficult to
monitor costs and manage expenses.
2.
Improving customer
experience
Providing hassle-free shipment bookings and tracking the status of booked shipments instills confidence in your customers. If data is not collected and organized periodically, it fails to give the customer the latest update. Forwarders that offer customers instant shipment updates are preferred over those that share information on following up.
How to offer a better customer experience?
More than receiving timely updates, customers
like to understand the additional value is being offered. A smooth end-to-end
experience guarantees a customer will return with repeat business. The pathway
for an elevated customer experience lies in optimized and efficient processes.
They result in
- Less frequent inputs needed from customers
- Reduced processing time for shipments
When your customers receive timely updates, they are assured the shipment processing is in order. Fewer queries originating from the customer mean a job well done. Freight software solution enables you to digitize all processes, leading to the visibility of the progress. Digitization allows for information to be accessible in real-time, thus promoting clear communication.
Benefits of implementing software for freight
Keeping costs under control: Expenses spiraling out of control reduce your margins in stiff competition. Freight management software keeps track of and controls all costs. Insurance and administrative charges, customs duties, container- and carrier-related charges can get overwhelming to keep track of. Freight software consolidates all charges under their respective transport heads.
Simplifying documentation: Moving goods across international borders is an intricate process. Documents involved include a packing list, commercial invoice, bill of lading or airway bill, etc. Freight software organizes all key shipping documents in a single location. Freight solutions even facilitate quick customer approvals on documents.
Automation drives efficiency: A lot of manual work leads to fatigue and errors. Repetitive work done by freight forwarders can be brought down by 45 percent using the software.
Reduce Job Turnaround Time: Streamlining functions leaves no gaps in communication leading to faster processing of shipments. The time gained in faster processing allows companies to add volumes to the job.
Empower your business with freight software
Reducing costs only works for the short term.
Additionally, the dynamic environment of freight forwarding doesn't allow the
strategy to materialize. With integrated freight software you can increase your
operational efficiency and enhance profitability. Implement freight software to
empower your business to the next level.
Originally Published in Portcalls Asia Magazine
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