How To Choose An Erp Solution For Your Freight Forwarding Business

How to choose an ERP Solution for your freight forwarding business

Freight forwarding Industry is undergoing a quick and radical transformation in recent times. The dynamics of the way in which Freight forwarders have operated in the last decade is completely different from the way in which they are operating today. There has been a wide range of aspects that have influenced this change and have transformed Freight forwarding businesses over the last 4-5 years. From being a mere logistics supplier a decade back to trying to be the “One-Stop-Shop provider” Freight forwarders have re-engineered the Industry. Now Freight forwarders focus on having the ability to offer new, value-added services such as warranty processing, returns management and light manufacturing to their customers. In addition to this offering services such as customs and insurance brokerage, trade and transportation management have also emerged as the differentiators in the industry and opportunities to capitalize on cross-segment Businesses. One of the biggest challenges that Freight forwarders face is data management. Ability to Streamline the multifarious nature of this business and aligning them in the most productive and profitable way, while managing the huge amount of Customer and Freight data can go a long way in defining success and failure for Freight Forwarders. To stay ahead of the competitor and to grow successfully, the choice of the right ERP systems are the ultimate solution for freight forwarders. This will directly lead to streamlining the logistics and freight forwarding operations. This results in the effective and efficient management of freight forwarding processes and that will proprietorially increase profitability and accuracy.

Here are a few aspects that businesses need to consider when they plan to choose the right ERP solution to assist them in their needs.

  1. A Secure standalone Centralized database: Information handling and security is one of the most important aspects of any business. In Freight forwarding, any leakage of information, or even loss of information could simply end up causing unnecessary delays or even Shipment loss in some cases. There cannot be any compromise in user data or any package information. The choice of the right ERP system would be incomplete without analyzing the user security features that are incorporated into the system. A secure and centralized database multi-branch access can avoid any disconnected data pool causing unnecessary delay and disruption would be an ideal approach to solve the majority of concerns. This approach can protect from data duplication and help in easy data monitoring. The centralized database should be capable of enabling the ERP solution to read, edit (modify) and write data to and fro from each of the branch offices. This would go a long way in helping the business to track shipment-wise payment, profitability, outstanding details, and performances.
  2. Availability across Mobile and Web-Based Platforms: Businesses today need a strong mix of classical and modern day approach to be successful. Modern day businesses offer challenges that need to be answered regardless of whether you are in the office or are on the go. An ERP and CRM solution for Freight management which is built without detailing to these challenges is good for nothing. Choosing an ERP solution that enables you to operate and access data on the go, from mobile devices and which supports interoperability between Mobile and Web-Based platforms are one of the key aspects of Freight Forwarding Business.
  3. Quick Access to information Generation of Reports and data archives: Data archiving, information reporting and data storage are the most crucial elements in the freight forwarding business. Generating and archiving reports, including shipping-related MIS reports, purchase order, balance sheets, packing lists, and multiple invoices quickly without errors can go a long way in defining success to your business as a freight forwarder. Having an ERP solution that gives you quick access to information can make it very easy and simpler to take quick decisions and get insights on trends in the business.
  4. Connecting the Disconnected Pools of Business: Freight forwarders usually deal with a lot of information that is dependent on each other but are disconnected. Freight management, documentation, container tracking, customs brokerage, compliance services, and shipment tracking are all crucial aspects that have to be bridged together to succeed as an organization. A single platform which connects all these pools and integrates them to a single solution can deliver maximum profits and in the same time be comfortable. This can make the operations more accurate, efficient, and cost-effective and will provide all the users with real-time visibility of inbound/outbound shipment and their corresponding receivables.
  5. Real-time tracking and management: In this fast-paced world, Information on the go is the most crucial aspect of any business. This can help make quick decisions and stay ahead of the game. Customers and employees need real-time access to information, especially when they are on the move. Businesses need to embrace mobile ERP for the reports, dashboards and to conduct key business processes.
  6. Ability to deal with multiple branches and currencies: Freight forwarders deal with shipments across various countries and continents. This can cause disconnected pools of data, multiple dependencies, confusions, and difficulty in converting data causing unnecessary delay, disruption, and data duplication. Choosing the right ERP solution that can accommodate all these differences and disconnects and still provide optimum performance is one of the key aspects to success in logistics Industry.

To succeed in Freight forwarding Industry a service provider needs to have a controlling presence in key growth markets and the flexibility to respond swiftly and innovatively to customers’ evolving needs. Incorporating ERP and IT process driven services into businesses and evolving quickly in accordance with the growing needs can help the businesses survive, succeed and evolve to grow in this fast-paced Industry dynamics. Choose your service partners carefully and succeed.

Happy shipping!

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