Home » IT in Logistics » Is Technology a Priority in Your Freight Business?

Rapid advancements in technology are making rapid inroads into the freight industry transforming the way it works. This is a positive note for an industry that requires high degree of cooperation, collaboration and transparency to function optimally. And the key to achieving it is information which is a byproduct of automation and technology.

 

The freight business involves huge volume of documentation and information sharing. Usually the interactions in the industry are largely over phone and email. Freight companies also generate a large amount of complicated data which they have to maintain and update periodically. Many companies become bogged down with the sheer burden of their everyday work that they hardly have the time to think beyond it. Even as companies barely cope with their work they still have the ever increasing demands of the customers to fulfill.

 

Somewhere in between all these problems technology somehow loses focus or takes the back seat. Many companies in the freight business have a misconception about technology being expensive. With spread of cloud computing this is no longer true. Other reasons why technology adoption is not widespread in the industry is the fear of changing the status quo and lack of belief in its efficacy in helping the company grow.

 

Freight companies need to seriously think over the factors that limit their performance capabilities. Technology is definitely the answer to their problems as it offers ways to free themselves from their present inefficiencies and make their business more responsive to the increasingly complex demands of today’s market. It also fulfills the need for the company to be more collaborative and transparent.

 

Use of technology in the form of freight ERP increases the cost efficiency and operational speed of the business. It also offers companies the tools to deliver quality customer service. Being available on cloud, the cost of acquiring and maintaining such software is quite affordable.

 

Freight ERP brings extensive benefits by eliminating manual processes, digitizing information that can be easily shared and reused. With an ERP, data can be shared across the organization and beyond with other stakeholders. It aids in analysis and planning of the operations and enables strategic decision making. Optimization of freight operations can become easy with technology support. Technology is a necessary tool to optimize the process and optimization makes the business more cost-effective.

 

It is common to find the finance department of companies that do not use an ERP in a chaotic condition. Everything from invoicing, payment follow-up credit control and cash-flow management, etc are seriously affected, leading to loss of revenue. The ERP integrates finance with operations giving complete financial control. Major benefits include on-time and correct invoicing, prompt follow-up, cash-flow and credit management etc, which in turn helps plug revenue leakages and enhance profitability.

 

Freight companies that are still unsure of investing in technology due to costs or simply fear of changing the status quo should consider the immediate and long-term benefits of using technology. Making technology a priority in your freight business is the best way to grow your business.

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