10 Proven Features to Increase Profitability Using Freight Management Software
Business owners seeking growth must choose freight management software. These ten features in the software of your choice are proven.
Companies in the freight forwarding world generate an enormous amount of data daily. This gets amplified as volumes are added with a growing business. It is 2021 and if you haven't yet used freight management software, well hello to you!
Freight Software is designed with YOU in mind and can help you improve and remain competitive. Those Forwarders who have adopted software for freight have reaped its benefits immediately.
For the business owners who seek growth, freight software is for you. In this space, we will share those software features that matter for your top line or profitability. Our approach to advance will be in two stages:
- STREAMLINE and ORGANIZE
- EMPOWER and DRIVE
STREAMLINE and ORGANIZE
To revamp a new way of working, you must always start with putting order to things. Getting organized in a highly complex environment like that of Freight Forwarding must take precedence. Let's get it in!
- Multiple Bill types and Multi-Currency Support
The beauty of freight software is that it supports several formats of bills and invoices. As you deal with an array of shippers, carriers, and other customers from different countries, each may differ in format and currency. Thus this feature allows you to save time and accept more customers with ease.
- Electronic Data Interchange Compatibility
Since electronic transactions were introduced in the regulatory and compliance system, processes have become smoother and faster. Software for freight must include widely accepted provisions like e-VGM and e-AWB, e-Invoicing to make transitions more efficient.
- Solitary software
Traditional forwarders seldom give a thought to becoming lean in their systems. Adding software for each of your departments or functions creates isolated systems within your organization. Logistics ERP Software does the job of multiple individual solutions. A single platform for all your freight needs like billing, invoicing, custom clearance, accounts, and finance can be handled by Freight management Software.
- End-to-end visibility
Manually tracking the progress of each shipment can be a tedious task. Freight solutions make this easier by displaying a report or screen with the progress of all shipments. This feature helps organize and save time and also does not require dedicated personnel for the job.
- Digital collaboration
Officers at the ports and in your branch offices are constantly needing to communicate with each other. This constant chain of information exchange is routed through the software for freight, thereby achieving an increased speed of communication and also a log of information in the system.
EMPOWER and DRIVE
Once your processes are in order and smoothly functioning, the next step is to power up and push for further gains. This is realized with DATA. This next set of features revolves around using data to your benefit. Let's check those.
- Data insights
Your organization could spend an enormous amount on software that only does the bare minimum. Data insights in freight forwarding are important:
- To give a direction to the organization
- For identifying trends
- To strategize
Data can help you look for revenue leakages, measure KPIs, and adapt for any deviations.
- Real-Time Access
The most important feature of Cloud-based Freight Forwarding Software is anytime, anywhere access to data. A centralized database keeps data always in sync and accessible to all functions and stakeholders. When authorized users are given the required access, it leads to no delays in information exchange between on-field and backend teams. Anywhere access implies you can view and send reports and do much more from any device with an Internet-enabled browser.
- Enhanced Customer service
With an increased speed of processing, you are empowered to use data to enhance the services for your customers. Using a freight solution, customers are notified about the progress of the shipments via auto-alerts. With this feature, you have assured customer loyalty and repeat orders as you offer them on-demand information.
Logistics ERP has the feature of plug-and-play modules that support scaling when your operations grow. You can add modules like Custom Clearance, Transport, Warehouse, Accounts, Sales and Service, and more according to your need to scale.
When you have got all your processes streamlined and optimized, it is time to step up and automate things. Digitizing your processes makes it possible to understand clearly the progress of a job and the bottlenecks if any. On milestone completion and deadline misses, auto-alerts are generated to inform the concerned stakeholders. Automation causes increased productivity and efficiency so you can achieve growth.
How do I get started?
Now that you know what to look for in Freight Management Software, you are in a better position to make an informed choice. There are many great choices out there. Our recommendation is to schedule a demonstration of a trusted solution that encompasses all these must-have features for an increase in profitability. Good luck!