With 9% decline in the container shipping rate observed in 2015, freight business is poised to fasten up and improve the pricings in the coming years. Spot rates going below USD 200 are affecting shippers as well as the freight brokers who are facing a tough time at getting loads on board. One of the major trade routes from Asia to the prominent coasts of US (West and East) saw one of the least spot rates since 2009. Ranging between USD 815 and USD1,520 for the respective coasts for a 40 ft container doesn’t leave much for the freight brokers to negotiate on. In these challenging times, freight software is seen as a dependable aid which can help in taking strategic decisions in the freight business. 

A low supply growth with IMF projecting a 3.4% growth in GDP can very well translate into 3.5-4% increase in demand. Still, there is an urgency to streamline the freight delivery system for the freight brokers to stand firm in slow times. One of the major reasons for the freight container prices to decline is due to the broken communication system and information deficit which doesn’t let the brokers take the right decision at right time. Automated search integration for finding the best load carriers and spot rates available at a given time saves the analysis time. It also helps in a higher number of successful loadings as the decision can be taken much faster. But how to get all these features in the freight forwarding system? The answer lies in the major software solutions available for freight forwarders today. They add up in the total value generated by business by facilitating and enhancing the methods of freight forwarding. Let’s check out essential ones.  

• Freight tracking software

There are a number of paid as well as freight tracking services available these days for brokers. But once brokers have established their network and want to get out of the constraints of depending on a third party for tracking freight, they look out for a dedicated freight tracking software. Apart from the ownership factor it also gives them a greater hold of the shipments in terms of timely updates as per their own necessity. It also adds up in giving a better experience to the customers as with their own freight tracking software, brokers can share the carrier location and trip details as asked by the shippers. Brokers are aggressively looking out for IoT options which are revolutionizing the logistics industry for tracking and monitoring shipments.

• Freight dispatch software

Freight dispatch software have a broker-centric approach which makes them different from other dispatch software. Dispatch software helps by digitally tracking and facilitating time-consuming tasks. Quicker load entry, posting and tendering remains one of the prime benefits. Other than this, it is easier to manage the respective commissions for salesman and broker which saves a lot of communication and status updates about the cash flow. With the help of integrated document imaging, it becomes even easier to communicate the necessary documents. Since freight broking is not restricted to only one segment of shippers and needs to deal with the different variety of shipments as well as carrier requests, multi-carrier integration is another useful feature. Nowadays, freight brokers can also provide remote broker access for the varied level of agents involved in the process. This smoothens and automates the working scenarios for a large team. Freight dispatch software have made advancements to a level that now customers can also access the status updates about the shipments through the dedicated portals provided to them by the brokers.

• Freight quote software

With freight operations getting faster and more customized in nature, ability to generate instant quotes on favorable rates is becoming crucial for freight brokers. In absence of freight quote software, it is nearly impossible to wait for the sustainable or profitable quotes to be generated manually and still lock the spots in time. Freight brokers who want to dive deep into the business by making sure that they are providing services on all the 3 modes of freight transportation i.e. air, ocean, and roads, generate huge value with automated quote software. This software compares, evaluate and generate the quotes depending upon the most favorable way of transfer of shipment. Faster quote generation also helps in faster bidding potential which in turn increases the chances of winning the spot.  

• Freight audit software

Freight audit software are becoming smarter and more relevant to the changing needs of freight brokers. Seamless integration with different accounting software such as QuickBooks helps freight brokers to adopt these software solutions without disrupting or changing their current audit system. One of the major tasks catered by any audit software is to develop a clear visibility of the cash flow and liabilities encountered by the freight brokers. The second biggest task endured by freight audit software is to validate the received freight invoices with the respective subsidiary documents such as the bill of lading, delivery receipts, and commission receipts. Many freight brokers also believe that with clear audit statements from Freight audit software have helped them in keeping their freight broker surety bonds and other FMCSA affiliations in check. This is due to the lower errors encountered by these brokers in their bill payments.

• Freight forwarding software

It is an exhaustive amalgamation of all the necessary software solutions needed for freight broking. It automates the operations for forwarders and also creates a system when they get greater visibility and command over the crucial data. Freight forwarders get higher efficiency in bookings which keeps them ahead in generating business. Getting bookings done faster helps especially in air freight forwarding services, but the utility is undeniable for other modes of freight transport modes too. The forwarding software helps in better business operations by streamlining the data entry process thereby decreasing the chances of human error. Web-based freight software is particularly on rising due to the feasibility and data security provided by them. It also adds more value to the business with the comprehensive set of services at practically no installation cost.
To know more check out the freight software provided by DreamOrbit.

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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