How does digital freight forwarding use technology?
Apr 07 2021
According to the Boston Consulting Group, digital freight forwarding has seven ways to improve customer experience and improve business operation efficiency. The main ones are higher customer satisfaction, lower costs and higher profitability. Digital freight forwarding does this:
Ø Real-time quotation
For example, Freightos has developed an instant freight quotation engine that provides pricing within seconds. Freightos found that only 25% of the world's top 20 freight forwarders can provide LCL online quotations. It took an average of 57 hours for customers to receive the price, and there was a 58% difference.
Freightos provides 100% transparency to their customers and allows their customers to book services on their website now, similar to our hotel or flight reservations on Ctrip:
Ø Seamless end-to-end document processing
Now, they no longer need time-consuming paperwork, but with secure cloud documents, collaboration is possible, and you can share documents with third parties, such as bills of lading, invoices or packing slips. This is the digital file processing method of Twill, another digital freight forwarding company affiliated with Maersk. They keep all important documents in a safe place and avoid sending emails with attachments back and forth, isn't it cool!
Ø Shipment tracking
Automatic tracking can update customers and freight forwarders, and all parties can directly respond to the required operations and send tracking notifications. Therefore, everyone shares real-time information, and customers always know where their goods are or who is doing what.
Ø Automatic invoicing through the integrated financial system
Shippers and freight forwarders can save a lot of costs by automating freight payment and invoicing, saving $15 to $50 per invoice and ensuring that each invoice is correct. According to SWG, this is a huge improvement. SWG claimed that 20% of invoices in freight and logistics were incorrect.
Ø Enhance forecasting through big data and analysis
Who doesn't want to know the freight market quotations this week or next month? What is the market price recently? Container xChange developed an index to predict the availability of containers, and Freightos developed their Baltic Index to predict freight rates.
Ø Automated transportation process
Loadsmart provides instant booking, saving customers hundreds of hours every month. Their description is:
"Using an algorithm, our system automatically determines the best carrier to transport the goods-thousands of dispatchers in our roster (our internally referred to as "field work") sent an electronic request with a quotation $525.00. With just one click, the dispatcher will accept the job electronically, and the price confirmation will be automatically distributed. The driver that informs the operator has downloaded the Loadsmart app. GPS tracking and driver updates (from pickup to delivery ) Are all in it, and the driver submits the delivery certificate through the Loadsmart mobile application. Loadsmart does not make any phone calls, does not write emails, and does not have any human contact with the shipper, carrier or driver, and no sales or operation personnel are required. Earn a profit of $40.62."
Ø Real-time quotation
For example, Freightos has developed an instant freight quotation engine that provides pricing within seconds. Freightos found that only 25% of the world's top 20 freight forwarders can provide LCL online quotations. It took an average of 57 hours for customers to receive the price, and there was a 58% difference.
Freightos provides 100% transparency to their customers and allows their customers to book services on their website now, similar to our hotel or flight reservations on Ctrip:
Ø Seamless end-to-end document processing
Now, they no longer need time-consuming paperwork, but with secure cloud documents, collaboration is possible, and you can share documents with third parties, such as bills of lading, invoices or packing slips. This is the digital file processing method of Twill, another digital freight forwarding company affiliated with Maersk. They keep all important documents in a safe place and avoid sending emails with attachments back and forth, isn't it cool!
Ø Shipment tracking
Automatic tracking can update customers and freight forwarders, and all parties can directly respond to the required operations and send tracking notifications. Therefore, everyone shares real-time information, and customers always know where their goods are or who is doing what.
Ø Automatic invoicing through the integrated financial system
Shippers and freight forwarders can save a lot of costs by automating freight payment and invoicing, saving $15 to $50 per invoice and ensuring that each invoice is correct. According to SWG, this is a huge improvement. SWG claimed that 20% of invoices in freight and logistics were incorrect.
Ø Enhance forecasting through big data and analysis
Who doesn't want to know the freight market quotations this week or next month? What is the market price recently? Container xChange developed an index to predict the availability of containers, and Freightos developed their Baltic Index to predict freight rates.
Ø Automated transportation process
Loadsmart provides instant booking, saving customers hundreds of hours every month. Their description is:
"Using an algorithm, our system automatically determines the best carrier to transport the goods-thousands of dispatchers in our roster (our internally referred to as "field work") sent an electronic request with a quotation $525.00. With just one click, the dispatcher will accept the job electronically, and the price confirmation will be automatically distributed. The driver that informs the operator has downloaded the Loadsmart app. GPS tracking and driver updates (from pickup to delivery ) Are all in it, and the driver submits the delivery certificate through the Loadsmart mobile application. Loadsmart does not make any phone calls, does not write emails, and does not have any human contact with the shipper, carrier or driver, and no sales or operation personnel are required. Earn a profit of $40.62."
