Home » IT in Logistics » Measuring ROI from Using Freight Forwarding Software

Amit Maheshwari, Softlink Global CEO

In today’s dynamic supply chain industry, delivering the products to customers demands accuracy, on-time delivery, adherence to defined regulations, and lower cost.

 

Adopting the right freight forwarding software can give companies a competitive advantage in meeting customers’ expectations. But before investing in software, one must calculate the ROI (Return on Investment) and the time required for recovery.

 

Utilizing the right technology provides enhanced operational efficiency, timely delivery of shipments, real-time tracking, and uninterrupted communication between stakeholders located anywhere. Automating the entire process eliminates duplicate data entries, reducing job turnaround time by up to 40%, which translate to money and time saved.

 

The freight forwarding software gives the flexibility to automate and streamline the complete financial accounting process. The system allows the owner to have full financial control with a maker checker mechanism on ROI at every step of the accounting process.

 

Investing in the right technology provides substantial ROI as it enables freight forwarders to automatically process all documents online within 30 seconds, while it takes approximately 10 minutes to process the same documents manually.

 

Getting the right quotes on shipments usually takes approximately one minute to five minutes per carrier manually, requiring filling in the forms into the carrier website or phone calls. But when you invest in the right freight forwarding software, it can get quotes from all your carriers at one time and gives you time and cost savings per quotation.

 

Online tracking gives the flexibility to track the shipment within 30 seconds from anywhere using either a company website or a mobile app, while it takes approximately two to three minutes to do it manually over the phone.

 

Moreover, you can measure your ROI and savings through the expansion of the marketplace, accurate and timely validation of flow of information, automation of workflow, and above all, better customer satisfaction by improving efficiency and productivity in your supply chain.

 

Investing in the right technology not only results in significant cost savings and a strong return on investment but delivers value to your business. While actual returns may vary due to the unique characteristics of the organization, the early adopters of technology are at an advantage in terms of considerable returns on investment compared to the conservative companies.

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