Artificial intelligence (AI), machine learning (ML) and the cloud have already altered the competitive landscape of almost every industry, especially the freight forwarder business. Once based on a low-tech business model relying on labor intensive quoting and logistics processes, the freight forwarder industry has started a rapid transformation to automated and metrics-based procedures.
Freight forwarder Software has become vastly important to the success and growth of freight forwarders.
Customers benefit from enhanced customer service and faster delivery times, while freight forwarders become leaner, stronger competitors with outsized profit potential. As a result, freight forwarder software has become an essential asset for freight forwarders racing for increased market share.
Freight Forwarder Software Is Essential for Quoting
Quoting has always been a necessary cost center for freight forwarders. Without an accurate quoting process, they were bound to lose customers by overbidding and lose margins by underbidding. Staying competitive meant labor-intensive quoting with uncertain conversion rates.
Now, with freight forwarding software, the quotation process is automated, saving labor costs while delivering quotes to customers almost immediately. The lowering of labor costs is allowing freight forwarders who have adopted this technology to underbid the competition while adding to the profit margins of each order. Many software systems allow customers to request a quote from their own integrated IT systems, bypassing human labor entirely.
Freight Forwarder Software Provides the Most Up-to-Date CRM Systems
Today’s most advanced CRM systems integrate directly with the customers’ IT infrastructure. These CRMs allow freight forwarders to silo different parts of the system according to user permissions. When a customer requests a quote, the AI produces it and logs it into the record.
In addition, it tracks quote metrics, which provides management with both high level and granular views into the sales pipeline and conversion rates based on specific criteria. All business opportunities are visible on a single dashboard, making pipeline management more efficient and effective.
On the customer service side, freight forwarder software applications include wizards that guide users in completing various tasks, such as setting up an air waybill, house- or master shipment. They also automatically document all activity, including calls, meetings and emails, while also storing all incoming and outgoing paperwork.
Enhanced Accounting Capabilities
Are you searching for ways to boost freight forwarder profits? The advanced accounting capabilities included in new freight forwarder software shines the light on how to increase revenue and trim expenses through improved general ledger capabilities, automation of invoices and the flexibility to adjust accounting parameters as the business environment evolves.
Enhanced General Ledger Capabilities
Accounting software offers the most effective method of financial statement analysis. With the freight forwarder business becoming more technical, this is a great advantage against the competition. Enhanced general ledger capabilities allow freight forwarders to discover many cost saving opportunities. For example, freight forwarders can match expenses more accurately to facets of the business and use these insights when setting rates.
Automated Invoice Control
To maximize profitability, freight forwarders can now use automated invoice control to determine freight rates more accurately. Then brokerage charges can be more accurately invoiced. Automated invoice control prompts users to add appropriate items to invoices for specific situations, opening opportunities for enhanced profitability.
Freight forwarder software provides flexibility and a simple process for changing accounting procedures. This provides a key competitive advantage when operational scenarios change. Accounting software for freight forwarders provides flexibility through divisional overrides and general ledger accounting.
Hackers are endlessly inventive when it comes to finding methods of intrusion into you company’s data. The last thing you want to worry about is cybercriminals compromising your business. With cloud-based freight forwarder software, a data breach is one thing you never need worry about.
Freight forwarder software contains multiple security layers. They protect confidentiality and integrity without complicating access for authorized users. The built-in security features receive regular updates to stay ahead of the hackers. There are additional security features in the event of power failures, physical intrusions and network outages. Multiple firewalls protect the server when accessed from external sites, and internal detection systems automatically scan for and purge invaders.
Cloud computing, AI and ML have already left their mark on industry, and the trend promises to continue. By embracing this technological change through the acquisition of freight forwarder software, freight forwarders put themselves in position to enhance customer service, streamline operations and boost profitability.
CSA Software offers the best freight forwarding software products in the industry. Our products include Account Trak (operational TMS), Web-Trak (shipment management portal), LTL Trak (software for LTL shipments), WMS-Trak (warehouse management software), QuickBooks (accounting for freight forwarders), EDI (electronic connectivity) services, and much more. Call us today for your Free Software Demo!