What you lost in 2021 by not using a freight software

 


The year 2021 turned out to be kind of deceptive for freight forwarders. The year has had its share of surprises for the ill-planned. Matching container demand too was (and still is) challenging. The second wave of the pandemic caused a spike in medical supply demand. The Suez Canal incident further complicated operations.

Forwarders that were badly hit took steps early to recover and prepare for the next disruption by adopting technology. Those averse to investing in growth simply snoozed the chance to bring about a difference.

Procrastinators may not have incurred losses but lost several development opportunities. In the environment of fierce competition, forwarders prepared to take on a challenge and turn it into an opportunity, have the edge. 

Disruptions can knock down even the best of planners. But without a plan and system, you are guaranteed to be swept away with the tide. For forwarders, there is no breather from challenges. But despite the hurdles, securing your company's growth remains a priority task.

Between handling disruptions, managing growth, and keeping your customers satisfied - automation and technology are a uniting force. Heightened awareness of your company's operational and financial health along with monitoring industry trends- is the key to turn unplanned events into growth opportunities. To be better prepared for a successful 2022, let's explore the possibilities.

Serving quality to the tech-savvy customers

About a decade ago, shippers or consignees would only know about the shipment once it was delivered. Today, it is vital for shippers, consignees, and you, as a business owner, to get the latest detail on all activities.

Today, customers are tech-savvy and expect answers in a jiffy. The simple equation is - if you don't have the data, you can't pass it on to your customers. Freight software unfolds the complexities and makes it simple to view and share milestone updates.

Optimization of routes and shipment planning

A freight forwarding process consists of many activities. But in a condensed form, it means facilitating the movement of cargo from a point to another. 

To bring efficiency in cargo movement and cost optimization, complete visibility is a must. Bringing down the cost per shipment could mean working out a dozen permutations. And when you're faced with disruption, without technology, even managing daily operations becomes challenging, let alone the optimization.

Forwarders with the best freight software are equipped to deliver exceptional service even under disruptions. Data collected from various touchpoints is converted into meaningful reports that provide you:

·  All shipments under progress

·  Profitability for each route

·  Daily Status Report

 

Facilitating faster payment reconciliation

Forwarding is known to be extremely lagging in receiving payments. The reasons go beyond industry trends and have much to do about reconciling accounts receivables and payables. 

With freight management software, all transactions are recorded and can be viewed as on-demand reports. 

The advent of digitalization has accelerated the number of contactless payments. It has also resulted in introducing visibility and transparency in financial transactions. Apart from P&L and other accounting reports, technology has encouraged quicker payments realization.


Decreasing manual effort by introducing automation and streamlining operations will enable you to handle unforeseen situations. The incorporation of technology in your processes enhances your capability as a freight forwarder. Pick the right software for freight that provides steadfast support through all times.

Originally Published in Portcalls Asia Magazine

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