The industry has thrived despite these inefficiencies and somehow managed to work its way around with interim solutions. Ironically, despite the wave of digitization being ubiquitous across all other industries, freight forwarding still seems to be playing catch up with technology.
Digitization in logistics is hitting an inflexion point. Forwarders who have identified this, are starting to capitalize on the right technology that eliminates these inefficiencies, by digitizing the entire freight process. At a juncture where digital forwarders in the industry have made competition for traditional players very stiff, it is important to identify the need for technology enablers. FreightBro believes that no forwarder should be bereft of reaping the benefits of digital transformation irrespective of any reason – size of the company, cost, lack of awareness or inaccessibility to technology. Democratization of technology is of paramount importance considering the current industry scenario and must be a means to level the competitive playing field.
THE MAJOR INDUSTRY PROBLEM
® Complicated Rate Management involving numerous file and data formats, multiple email chains especially between procurement function of a freight forwarding organization and carrier.
® Delay in quoting- Cluttered communication across emails, messaging apps and phone calls between sales and procurement makes quote lifecycle longer leading to opportunity loss. Clear insight into quote status, whether quotes were acknowledged and responded timely, whether quotes were were won or lost (with feedback) is lacking.
® Lack of Sales Performance Data – Consequently, visibility into sales personnel performance metrics like enquiries received, quotes sent, conversion and revenue pipeline is lacking on a real time basis, which disables management from taking data based decisions
® Lack of real-time visibility of shipments – Nearly all exceptions in shipments are handled in a reactive manner, by which time cargo delays are inevitable.
® Waste of significant analytical data- Absence of a complete and consolidated dashboard to monitor shipments executed at various stages of its lifecycle can be detrimental to a business in the long run
FREIGHTBRO AND ITS WHITE LABEL SOLUTION - ELITE
You can read up to 3 premium stories before you subscribe to Magzter GOLD
Log in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines
READ THE ENTIRE ISSUE
September - October 2019