Trucking companies are realizing the relevance of technology in changing times and are increasingly gearing up to adapt to more advanced technology solutions. Trucking software is one of the major services in demand for the logistics and 3PL operators who deal heavily with trucking fleets. Trucking industry have matured to a stage that now the question is not about why technology? The question is about which technology?
Trucking companies have seen and accepted that the persistent challenges of the driver shortage, fuel efficiency, safety issues and real-time operations can be solved only with the help of technology. Even after understanding the role of technology, trucking companies find it particularly difficult to find a trucking management solution, which actually adds value to their system. This happens when the trucking software is used merely as tools and not as facilitators to unleash a brighter future. This can change only when the trucking industry, as well as the trucking management software provider, understand the real value that the trucking management software should be able to bring to the trucking company.
According to a 2015 research by Commercial Carrier Journal, the Top 5 requirements for Truck companies while opting for a Truck Management Software are majorly defined by the ease of operation. How much value a truck management software can add in their business by streamlining the process is their main focus. Business owners are open to adapt new solutions only if the solutions are usable and really effective. This drills down the discussion to the prime factors upon which the trucking management solutions are judged. Let’s have a look on them to understand what would be a great trucking management software with the trucking company’s perspective.
1. EDI & Data Integration
Trucking industry never stops. It works 24/7 beyond the boundaries of nations and time zones. To make each chunk of crucial information available at all points of the freight journey, it is imperative that the trucking company have an Electronic Data Interchange (EDI) solution. However, seamless data interchange solves only one part of the solution, proper data integration to take the strategic business decision is also needed. In order to review, analyze and forecast the most profitable routes and planning the freight delivery according to that, an integrated system is needed to retrieve the needed insights. 69% Truck companies agree that EDI & data integration is an important factor in choosing trucking software.
2. ROI
No matter how sophisticated software solutions are employed by the trucking company, if they are not able to generate a justifiable Return on Investment (ROI), they are worth nothing. For example, if the revenue generated is higher post installing a truck management software, then the software has definitely contributed in maximizing the ROI. But if the trucking management software installation and maintenance cost are more than the revenue increase it has induced, it is not a great deal for your company.
Any market popular and advanced Trucking Software solution doesn’t guarantee maximum ROI, the focus should be trying to find the best fit for the trucking company- SaaS, standalone software or a custom developed Trucking Software. To judge, what should be your sustainable ROI, calculate your total cost of ownership and then calculate how much more value is been added by the trucking software in your business over that. 67% trucking companies find ROI as one of the most crucial factors for choosing a trucking software.
3. Total Cost of Ownership (TCO)
Almost 62% of the companies are concerned about the Total cost of Ownership while choosing a trucking software. And this is valid for obvious reasons. Trucking companies don’t want to end up paying double the amount for the hidden expenses on support and maintenance after setting up a fixed budget. Trucking software is not easy to replace overnight and needs to be used for a considerable time period to generate some utility out of it. If it becomes unbearable to manage its expenses for even the minimum required period, it is probably not the best solution. If companies are just starting out to estimate how much they need to invest in trucking software, they prefer to start with a trial version which is generally available for limited users and then estimate the number of users they will need in future.
4. Integration with other software and adaptability
The majority of the trucking companies needs to work in collaboration with third party vendors and other logistics. It is no wonder that around 57% of them place easy integration with third party software and adaptability as one of the prime concerns while choosing a trucking software. Technology changes make work feasible only if there is no hindrance in adapting them. Trucking companies are looking for collaborative solutions such as platooning, pooling, shared LTL operations, for which they need to work in cooperation with multiple parties with different types of carriers. Easy integration and compatibility often become one of the major challenges to overcome in such scenarios.
5. Real Time Status updates and Alerts
Around 55% Trucking companies wants to opt for a trucking system which gives them real-time updates and alerts. Also, the logistics companies have accepted that getting real-time status updates about their shipments gives them greater confidence in the services provided by 3PLs. Real-time updates also lessen the onus on logistics companies to send inquiries which help to speed up the work and provides a seamless flow. Apart from the operational competitiveness, real-time status updates help the trucking companies to take prompt actions if the on duty fleet needs help at any point of the journey. Thereby ensuring that trucking companies have higher successful and on time deliveries. It also helps the drivers to get informed about any sudden change in the planned route and adjust their performance respective to that.
The trucking industry is gearing up to adapt the strategic changes needed to survive the coming years. Trucking companies agree that to be relevant in the changing scenario where 3D printing and decentralization of manufacturing facilities is looking an upward trend, they need to modify themselves to bring more to clients. Connected vehicles, Driver shortage, platooning, automated solutions, telematics are the few aspects where trucking industry needs major help from technology. But even with the evolving challenges, the objective remains same. The above parameters explain that the trucking companies are more concerned about safety, adaptability, and efficiency of their business operations. It is a time that the trucking software solutions providers grab the opportunity to include all these factors in their trucking solutions to provide a holistic service to the trucking industry.
Want to know how the DreamOrbit’s Trucking management software can change your trucking business for better? Have a look at its trucking solutions.
About DreamOrbit:
DreamOrbit is a Logistics and Supply Chain Technology Development company. We have been creating meaningful and reliable software products for the industry which is “Always on the go” for the past half decade. We are highly motivated team aimed at innovation. Our philosophy is to “keep challenging the potential within”. With the support of our happy customers and dedicated team, we strive to provide best possible solutions to industry problems. Visit our website to know more about DreamOrbit.
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