Top mistakes you can avoid as a New Freight Forwarder
New businesses always begin with vigor and enthusiasm. There is an eagerness to explore new methods of conducting operations and attract customers. The freight forwarding business has also seen many startups that have disrupted the freight industry and others that have failed to take off. Although earning profit and market share is essential for businesses, they alone cannot form the basis of forwarders' plans. For forwarders looking for a fool-proof way to ensure a smooth ride, there isn't one available. At least, not yet. But there…
Why is freight forwarding ERP important for the freight forwarding & logistics industry?
Although the Enterprise Resource Planning (ERP) market is expected to be worth $86 billion by 2022, it hasn't been a popular choice for small and medium-sized freight forwarders. Part of the reason is the belief that ERP for logistics and freight forwarding is not affordable. If you place costs before the benefits of ERP, you could lose out on the chance to create a unique value for your organization. The importance of ERP is realized when processes and communication start developing cracks. Globalization has been providing interaction …
Support: A key differentiator in Customer Satisfaction
Imagine a glitch in your customized software that leads to overcharging customers. Worse is, being a weekend, your software development team is unavailable for two days. In such an experience, you are at risk on two fronts: chances of losing a customer and continued loss till the issue is fixed. To understand the risk probability consider this: a PwC survey says 17% of people will walk away from a company after just one bad experience. If you are a Logistics Service Provider (LSP), then customer satisfaction gets more complex. For a logisti…
4 Improvements for Forwarders to Better Their Customers’ Experience
A positive experience has a lasting impact on us. And so does a poor one. How customers feel after using a service determines the volume of business you can expect from them in the future. Much importance has been given to customer experience in businesses in recent times. The fact that the global customer experience market is expected to grow at 11.8% CAGR shows why companies are investing in it. For freight companies, there are two touch points where you can influence and impress your customers. The first is how your staff or personnel int…
What to expect in the new normal for Freight forwarders, Employees and Customers?
Since the 2020 pandemic, many companies in the freight industry have had to go through a series of changes. Some of those changes were meant for survival, to set off a transformation, or for establishing steady growth. As the times were uncertain, companies adopted ways to weather the storm. Now, as the pandemic is nearing its end with mass vaccination, forwarders are at crossroads to decide the next course of action in the new normal. The positive outcome for forwarders that survived the tough times was gaining the ability to be digital on …
How is mobile app changing the future of Freight Forwarding Operations?
Amid the market upheaval in the past few months, the brand's ability to communicate effectively with its customers online has become pivotal. Irrespective of the sector, businesses across the globe are quickly waking up to the potential of the mobile app. And the freight forwarding industry has been at the forefront of the adoption of mobility and mobile apps. In this context, it is vital to understand the wide-ranging implications of the mobile app that has already transformed logistics and freight forwarding operations to a great exten…
Three-point strategy to increase profit in freight forwarding
The steady flow of revenue with controlled costs is a definite way to head towards a profitable business. But with the commoditization of freight forwarding, it is not enough to look for profit by reducing costs. Forwarders looking to grow their profits consistently must develop stronger core capabilities to sustain in difficult times also. Smart businesses make optimal use of their resources to maintain high-profit margins. Spreadsheets and software with limited capabilities set boundaries to your growth, preventing you from maximizing your p…
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