The increasing complexity of global supply chains has made automation necessary for freight-forwarding businesses. Legacy tools such as Excel just don’t cut. It’s prone to errors and unable to handle increasing complexity, making it ill-equipped for handling complex processes like rate procurement. Traditional freight-forwarding software lacks the sophistication required to match today’s need for constant access to updated, real-time data.
Unlike these legacy tools, modern freight forwarding software is equipped with instant rate procurement features, freight tracking, real-time data visibility, sophisticated analytics tools, and the ability to coordinate and manage data from multiple carriers. Ti-insights notes that the performance of digital forwarders matches the performance of incumbent forwarders against ten different criteria, including cost, speed of service and customer service/account management.Â
Thus, integrating the right freight forwarding software into your business has several benefits that increase operational efficiency and reduce costs. However, with the range of available freight forwarding software and its features, it is important to pick what suits your business’s needs and helps you achieve your goals.Â
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What Features to Look for in Freight Forwarding Software? Even though there are multiple freight softwares to pick from, certain features lie at the core of every efficient freight-forwarding software. Below are some features to remember while looking for the best freight-forwarding software in 2024.
1. Rate procurement Managing, consolidating, and presenting rates from multiple carriers is a cumbersome task that a freight forwarding software can streamline with its rate procurement feature. It is essential to look for freight rate management software that combines and presents data in a standardized format and allows integration with third-party software to consolidate carriers and their rates in one place.
2. Quotation Creating and sending error-free quotes with accurate rates in the proper format can put freight forwarders ahead of their competitors. Webcargo reports that 43% of a freight sales executive’s time is spent on pricing and RFPs and the average turnaround time for spot quote requests is 67 hours . An efficient freight forwarding software must automate workflows and help manage freight quotations, such as creating and sharing quotes in proper formats, keeping track of their statuses, and more.
3. Track & trace One of the biggest advantages shippers get working with digital freight forwarders is visibility and tracking. 88% of respondents to Ti-insight’s study reported that they are satisfied with the way digital freight forwarders endow visibility and tracking over their shipments. A freight forwarding software with accurate tracking features makes it possible to provide stakeholders with real-time shipment updates at their fingertips. Those that offer API take it a step further, allowing seamless scaling and integration with third-party systems to make available the tracking data wherever required.
4. Intuitive and user-friendly interface Quality freight software takes care of most of the complexities involved in a shipping process at the backend while keeping the front end simple and user-friendly. Freight forwarding software with intuitive, user-friendly UI makes it easy for users to navigate the tools and use them to do their work effectively.Â
5. Customer service A good freight forwarding software comes with access to customer support systems to address challenges while using them. A reachable, reliable custom service ensures you have your onboarding queries answered, somewhere to reach out to for assistance, and overcome any hiccups you face while using their freight software.Â
6. Ability to integrate with other systems Integrations with integrating with TMS systems, SAP, rate procurement platforms, and CRM/financial systems facilitate meticulous rate management and enable real-time tracking of freight movements, ensuring streamlined communication and data accuracy across various logistical functions. This interconnected ecosystem supports businesses in optimizing rate procurement and management in terms of higher accuracy and improving overall customer satisfaction.
7 Best Freight Forwarding Software 1. Freightify Features ‍Freightify's cutting-edge freight management software is known for its sophisticated RMS, instant quote generation, and accurate track and trace features. Their rate management system (RMS) encompasses SPOT, FCL, LCL, and AIR rates from 30 ocean carriers, over 90 airlines, and inland charges in a single view. Rate procurement : Aggregates 30 live ocean carrier rates, 90+ airlines, and inland charges into a single view, encompassing SPOT, FCL, LCL, and AIR rates from various carriers and NVOCCs.
Rate management : Efficiently add rates individually or in bulk through agent inputs, automated uploads of rate sheets, ensuring detailed information like origin, destination, local charges, surcharges and cargo specifics are included. View rates in concise tables or exportable rate cards. Automate margin management with customizable rules across products, ports, and global operations.
API Integration: Freightify’s API integrates with carrier websites, TMS systems, CRMs, to procure live rates and schedules, enable track-and-trace, access past customer information, automate workflows, etc.s
Instant quote generation : Quickly generate and customize quotes from search results, including fee adjustment and profit calculation, with the option to email directly or download as a document.
Track & trace :Â Experience comprehensive visibility with live end-to-end tracking, monitoring cargo from pickup to delivery. Leverage insights for prioritizing clients and maintaining relationships. Freightify's Analytics dashboard offers detailed insights on shipments, quotations, win ratios, and staff performance, enhancing operational efficiency and decision-making.
Customer Portal : A digital storefront that can be provided by freight forwarders to their customers. Freight forwarders can customise rates for each of the customers, and set customer specific margins. Their customers will have the flexibility to choose rates and raise requests for quotes. Helps freight forwarders have a global reach and connect without the need to have a physical office in that location.
Ratings G2: 4.8 out of 5 stars
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2. GoComet Features GoComet's freight forwarding software solutions include GoProcure, an automated freight quotation management software to compare and get quotes from vendors; GoPlan, which empowers end-to-end shipment planning; and GoTrack, a shipment tracking tool. It also provides GoShipment for task ma\nagement and collaboration across stakeholders, as well as GoInvoice, an invoicing solution for freight invoice reconciliation.Â
Fleet management: Increases fleet efficiency, tracks and manages vehicles through GPS, manages vehicle maintenance activities, and monitors performance. Provides tools for managing driver efficiency and communication.
Load planning: Maximizes the efficiency of available space, minimizing transportation costs, and managing loading and unloading of cargo to make it hassle-free.
Electronic logging devices: Uses ELDs to ensure that transport safety standards and compliance regulations, such as Department of Transportation (DOT) regulations are being met, enables tracking of drivers' hours.
Customer management: Tools for managing end-to-end customer experiences such as inquiry, booking, order, feedback, and real-time assistance in case of issues
Ratings G2: 4.8 out of 5 stars
3. Descartes Aljex Features Descartes Alijex is an advanced analytical freight management software that provides comprehensive transport management functions such as freight invoicing, planning, yard management, etc. It fits the needs of businesses looking to integrate with ERP systems, warehouse management systems, and accounting softwares.Â
Workflow automation: Tools to automate routine tasks such as comparing rates, generating quotes, documentation, etc. to free up resources and boost productivity.
Mobile access: A centrally managed cloud-based database that enables access to dashboards and tools through mobile app and interface, ensuring usage flexibility and constant support.
Document management: Provides tools for creating, storing, and managing important shipping documents such as bill of lading and invoices. Ensures documentation standards are met for a hassle-free shipping experience.
Accounting and invoicing: Tools for generating and storing customer and carrier invoices that facilitate efficient payment tracking.
Ratings G2: 4.5 out of 5 stars
4. Magaya Features Magaya is powered by a centralized, unified database that tracks inventory records across warehouses and retail locations. It includes flexible inventory dashboards to oversee stock levels across facilities and powerful reporting tools to compare sales performances across stocks. It also has a comprehensive carrier management system to record and track carrier data.
Warehouse management: Handles inventory management, stock management, order fulfilment, picking, packing, and other warehouse operations.
Order Management: Assists with end-to-end processes involved in fulfilling an order such as order entry, handling order particulars, and order processing.Â
Invoice Management: Features to automate billing and invoicing, automated rate calculation, invoice generation, and other accounting functionalities.
Customer Relationship Management(CRM): A complete tool to manage customer relationship capabilities such as customer support, customer connects, track lead generation, maintaining customer profiles, and understanding customer preferences.
Rate Management System: A single window to consolidate freight rates for all three shipping modes, for searching and comparing rates, and stream line RFQs.Â
Ratings G2: 4.5 out of 5 stars
5. GoFreight Features GoFreight's standout feature is its APIs, which streamline data exchange between various systems for a smooth flow of accurate information. Real-time container tracking improves visibility. Automated freight forwarding workflows automate repetitive routine tasks that improve costs by freeing up resources and reducing human errors in processing.Â
Finance management: Tools for managing tasks related to financial operations such as invoice generation, invoice management, billing, accounts receivables, and payables.
Vendor management: Tools for managing and maintaining relationships with vendors, procurement capabilities, purchase order creation and tracking, and tracking vendor performance.
Integration capabilities: APIs to integrate with third-party softwares such as carrier systems and accounting tools for seamless data exchangeÂ
Quotation and booking management: Features to manage rates, compare rates, manage quotes, book shipments, and track shipments from source to destination.
Ratings G2: 4.3 out of 5 stars
6. CargoWise Features Cargowise’s freight software comes with predictive analytics abilities that improve decision-making by providing smart insights into the supply chain process. It provides customers with a portal to automate several tracking and recording activities involved in the shipment processes, such as quote creation, shipment monitoring, and documentation management.
Global trade management : Management of tasks involved in international trade such as documentation, customs compliance, and managing regulatory requirements related to international shipping.
Real-time visibility : Visibility into the end-to-end supply chain operations that enables tracking and tracing of shipments and helps in planning against delays.
Transportation management : Tools to manage transportation operations, encompasses fleet management, route optimization, and carrier management.
Electronic Data Exchange (EDI) and other integration capabilities : APIs and tools such as EDI to establish a seamless and standardized process of data exchange with external systems.
Ratings G2: 4.3 out of 5 stars
7. Cargo Chief C4 Features Cargo Chief's C4 takes carrier management one step ahead with its strategic carrier outreach. They leverage the customer's networks to vet carriers, going beyond transactional relationships and cultivating stronger relationships with preferred carriers. Their data-informed implementation harnesses the power of data trends and valuable insights for data-driven intelligence-backed decisions.
Freight brokerage : Acts as a broker between shippers and carriers and manages end-to-tasks for a hassle-free shipping process.
Load optimization : Provides capabilities to maximize the efficiency of shipments, monitor delivery schedules, and consolidate partial loads.
Capacity matching : Helps to minimize empty miles for carriers by matching shipping demands to available capacity. Maximizes the efficient utilization of shipping resources.Â
Custom transportation solutions : Provides customized transportation solutions to suit specific customer needs and cater to industry-specific verticals.
Ratings G2: 4.5 out of 5 stars
Why Does a Freight Business Need Freight Forwarding Software? Fluctuating rates, changing international regulations, rising fuel costs, and other complexities that accompany transporting goods make it imperative to work with the right freight-forwarding technology that simplifies the tasks associated with freight management.Â
1. Real-time visibility With technology enabling accurate tracking capabilities, shippers, freight forwarders, and customers expect regular updates on their shipment's position, progress, and ETA. Visibility data from freight forwarding software allows freight forwarders to capture and send accurate tracking data to all their stakeholders, which adds significant value to customer satisfaction. Real-time visibility data also helps predict delays and streamline the chain of operations based on this information.
2. Freed up resources One of the prime advantages of integrating freight management software into a business is the automation of manual tasks and the resulting human error-free operations. This frees up a significant chunk of the freight forwarder’s resources that would otherwise be engaged in routine activities but can be redirected to perform other important, value-adding tasks for a profitable freight forwarding business .
3. Reporting and analytics Availability of data and access to an analytics dashboard equips with information that can help foresee the important details associated with shipping process and improve the decision-making pipeline. Insights into tracking data, carrier rates, and compliance regulations can help make effective strategies to plan shipments and take steps to combat bottlenecks.
4. Improved documentation A cumbersome yet integral part of every shipping process is its documentation. Freight forwarding software with automated documentation tools and tracking dashboards ensures that no vital documents and their details are missed during shipping. This helps accelerate the shipping process and helps to avoid delays due to missed or incorrect documents.
5. Cost savings Introducing freight forwarding software in your business streamlines and automates the complexities of a shipping process. Freight rate management helps compare and access the best available rates. Analytics helps to prevent delays and avoid losses. Route optimization tools help select the best possible route for the shipment. All these and other benefits come with reduced human errors and faster, more accurate operations, resulting in significant cost savings for the business.
6. Data integrity and security SaaS-based freight software stores all the data in the cloud. This data is encrypted with security algorithms, allowing only the concerned people to access it. Availability of data on-cloud comes with the flexibility to access it anywhere, enabling users to perform necessary tasks from any digital device.
Wrapping up Freightify is what you need to accelerate your business and advance it in the right direction.Â
Freight forwarding software - FAQs What are the benefits of using freight forwarding software? Fluctuating rates, changing international regulations, rising fuel costs, and other complexities that accompany transporting goods make it imperative to work with the right freight-forwarding technology that simplifies the tasks associated with freight management. Some benefits of working with freight forwarding software include real-time visibility, freed-up resources, reporting and analytics, improved documentation, cost savings, and data integrity and security.
Can freight forwarding software integrate with other systems? Freight forwarding softwares that provides API facilitates seamless scaling and integration with third-party systems to make available data wherever required.
Does a freight forwarding software offer rate management? Managing, consolidating, and presenting rates from multiple carriers is a cumbersome task that a freight forwarding software can streamline with its rate procurement feature. It is essential to look for freight forwarding software with a rate management tool that combines and presents data in a standardized format and allows integration with third-party software to consolidate carriers and their rates in one place.
