Freight, customs broking and logistics companies will be facing a difficult time as they try to realign their business to the demands of the current times and the near future. The technology readiness of most companies does not measure up to the level required to navigate through these tough times. It’s high time companies take a closer look at their technology preparedness.
Let’s look at four key areas of concern that need to be addressed by companies about the technology they are using:
- There is need for quick and real-time access to data and documents, which are mostly scattered across individual computers and multiple softwares and are usually inaccessible at most times. Elimination of physical documents, enabling of data security, and having robust data backup options are priorities.
- A standard operating procedure for smooth collaboration and coordination among teams should be established. Measures to eradicate work delays, duplication of data entry, and complex work process need to be undertaken.
- Transparency, real-time visibility and monitoring of capabilities need to be acquired for the management to maintain high standards of service. Uniting teams working in silos under a single platform to enhance productivity should be a priority.
- Financial control is vital for the health and growth of the business. Limited visibility, unwarranted expenses, delayed and incorrect invoicing, little or no follow-ups, and non-escalation on delayed payments will make the company financially weak and vulnerable and therefore these issues need to be addressed.
By digitizing business with a single cloud-based software, companies gain a strong foothold toward addressing the four key areas of concern. Here are reasons why:
- Storing all the data and documents digitally with easy and secured access helps in the seamless integration of all departments across geographies, with the ability to work from anywhere, anytime, using any device with complete data security.
- The single cloud-based software enables creation of SOP for all tasks and activities and allows close coordination and collaboration among teams and departments.
- Digitization helps in easy and effective team management, provides timely alerts, and enables verification and approval of all activities remotely, monitoring of performances in real-time and active supervision.
- The single cloud-based software allows for timely and accurate invoice creation, enables automatic follow-up with escalation on non-payment, and allows all expenses and payment only on approval. Monitoring cash flow, defining credit limits and a strong reporting system allow companies to maintain robust financial health.
The single cloud-based software not only helps tackle business challenges but also brings more efficiency, control, and visibility to the business. If your current technology does not help you address these concerns, it is time to seriously reconsider options to upscale it.