Every freight forwarder knows that the logistics industry is mostly driven by the price. In such a highly competitive market, any opportunity to improve profit margins should not be missed.
Technology can significantly improve efficiencies internally, resulting in greater profitability. These improvements mostly come from the reduction of manual processes – time-consuming and error-prone. For example, automating the process of searching and aggregating freight rates can save at least 30% of the sales reps’ time.
But what is the exact dollar value of technology for a freight forwarder? And more importantly, how to calculate the extra profit margins it can help generate? You will find a very simple online calculator at the end of this article.
But first, let’s look at the areas where digitization can help the most.
- Technology brings transparency
Traditionally, the sales teams in freight forwarding companies would have to rely on multiple Excel tables with rates, surcharges, and special conditions, preparing freight quotes manually. This is far from optimal, as the margin of error is too high.
Now, when the freight rates change so often, the value of having all commercial data on one platform in a structured way is essential to maintain the sanity and transparency.
- Technology makes it easier
Getting rid of the large excel spreadsheets, putting all your commercial data into one platform in a simple and transparent way can simplify your workflow tremendously.
Simplification and automation provide the infinite possibilities and allows you to update your freight contracts and quotes in a few clicks.
- Technology brings security
Security and confidentiality are very important when attempting to forge business relationships. With advances in technology come advances in the data privacy.
In Quotiss, we made it our top priority to provide the highest level of data security to our clients. We use AWS cloud servers – the technology which is trusted by the largest businesses across the globe: Siemens, Vodafone, Philips, General Electric and others. With daily database backups, digital safety is 100% guaranteed.
- Technology helps to reduce costs and save time
A computer can carry out tasks in seconds and with 100% accuracy. One of the greatest benefits of implementing technology into the commercial business process is the time saving and cost reduction.
In Quotiss, your latest freight rates and your most precise client database are integrated into one platform. Contract management simplification allows you to automate and track the freight quotes.
Not only can this reduce the risk of error and raise the quality standard, but also save you great amounts of active sales time. Such time saving opens new doors for using sales talents in ways that will generate more profit at the end of the day.
How much more? In just a few clicks you can get an estimate! Here is a simple online calculator: