In this article, we’ll explore Key benefits of using freight forwarding Software, Challenges Faced by Forwarders Without Freight Forwarding Software, 9 Best Freight Management Software and Things to Check While Buying Freight Management Software  

Key benefits of using freight forwarding software include

• Accurate freight rates: Generate precise quotes for shippers, exporters, and importers.
• Optimized operations: Plan and execute transportation and cargo movements effectively.
• Efficient documentation: Manage necessary paperwork and customs clearance seamlessly.
• Data-driven decision-making: Utilize dashboards and analytics for informed business strategies.

Challenges Faced by Forwarders Without Freight Forwarding Software

• • Direct carrier approach: Due to the lack of digitalization in freight forwarding, ocean carriers are increasingly approaching shippers directly to offer rates. Digital platforms enable ocean carriers to bypass freight forwarders by allowing shippers to obtain digital quotes and bookings.
  • Document management: Freight forwarders often struggle to manage the overwhelming volume of documents and communications with internal and external stakeholders. This manual process increases the risk of miscommunications.
  • Real-time tracking: Without real-time container tracking, comprehensive reports, and analytical tools, freight forwarders find it difficult to meet customer expectations and identify post-pandemic business trends.
  • Industry changes: The rapidly changing logistics industry, including evolving regulations, poses challenges for forwarders without digital systems. This can lead to operational delays and increased competition.
  • Manual processes: Manual processes increase the risk of missed payments, resulting in revenue leakage and decreased profitability. Generating and sharing customer invoices with accurate charges and tax information is also inefficient.

9 Best Freight Management Software

NewageNXT

1. The user-friendly and intuitive system requires minimal training and seamlessly integrates with existing workflows.
2. NXT is a SaaS-based platform built on AWS (Amazon Web Services) and Oracle Database, ensuring robust security for customer data.
3. NXT simplifies the RFP process by helping forwarders quickly gather quotes from carriers or third-party vendors and generate digital quotes for customers.
4. The sales mobile app integrates seamlessly with NXT, providing salespeople with easy access to customer contacts, shipment history, and the ability to capture new leads and share quick quotes.
5. Automated notifications allow forwarders to send targeted email communications at specific milestones, saving time and effort for all stakeholders. Customizable email templates can be defined for different communication types.
6. The system offers comprehensive tracking and shipment visibility for both forwarders and customers (via a webtool). Early detection of potential delays helps prevent financial losses from charges like detention and demurrage.
7. The user-friendly interface displays essential Master and House information on a single screen. Contextual help options provide on-the-job training, reducing the need for formal system training.
8. User access management allows forwarders to define multiple roles and ensure data privacy among stakeholders. Dashboards and reports can be customized based on user permissions.
9. The rate management engine supports various pricing structures, including generic, customer-specific, time-based, incoterm-based, and vendor/agent-based pricing.
10. NXT integrates with rate aggregators to fetch carrier rates and facilitates rate requests to multiple vendors. This enables vendor analysis and direct quote creation with markup pricing.
11. The comprehensive finance module simplifies invoice creation for customers and vendors, supports multiple currencies and locations, ensures tax compliance, and manages petty cash, credit/debit notes, demurrage, and detention calculations.
12. The document management system allows for easy upload, storage, and retrieval of various document types.
13. The system generates essential documents such as MBL/HBL, MAWB/HAWB, Delivery Order, Cargo Arrival Notice, Booking confirmation, Proforma/Final Invoices, and Balance Sheet.
14. The integrated BI tool provides a comprehensive view of total cost of ownership, aiding in customer-focused decision making.
15. Detailed dashboards and reports offer insights into shipping activities, helping identify areas for efficiency improvements and cost savings.

Discover all of NewageNXT features.

Pricing: Prices are available on request. You can refer to free features videos here.

Fresa Technologies

1. The sales module allows us to book appointments, create leads and prospects, and maintain customer relationship data more conveniently.
2. Easily and quickly share quotations.
3. Helps in generating shipment Bills of Lading (BLs) and shipment status lists for all modes of transportation.
4. The accounting module provides a complete overview of revenue and cost.
5. The accounting functionality covers both trade and non-trade transactions.

Pricing: Pricing is available upon request. You can opt for a free demo video to learn more about the software.

Shipsy

1. The product integrates with shipping services, allowing forwarders to easily exchange information with shipping lines.
2. The Report module provides access to extensive data available within the system.
3. The Quotation and Shipment modules offer detailed information about quotations and shipments through this platform.
4. A customer interface is provided for forwarders’ customers to access all necessary information.

Pricing: You can request a consultation for a free demo from the website. Pricing is available on request.

Magaya

1. Create bookings, invoices, and shipments through this digital product.
2. The accounting section helps you generate invoices and track customer billing. Easily integrate with third-party tools through APIs. Offers custom compliance features to simplify your customs clearance needs.
3. Quickly create new leads within the system and follow up on sales inquiries.
4. Create quotations efficiently using the Rate Management module.

Pricing: Pricing is available upon scheduling a consultation, including a three-minute video of the software overview.

Logistaas

1. Customer contracts and databases can be easily managed through Contract Management.
2. You can easily create quotations and link them to shipments through Sales Process Management.
3. Manage rates associated with each client with ease using the Rate Management engine.
4. You can electronically transfer data with external stakeholders through this platform.
5. Financial Management provides provisions for Accounts Payable and Accounts Receivable.

Pricing: Logistaas offers three plans:

• CRM Only – USD 35 User/Month
• Professional – USD 55 User/Month
• Digital Freight Forwarder – USD 75 User/Month

GoFreight

1. The dashboard provides comprehensive visibility in shipments and other operational activities.
2. Offers shipment tracking, allowing you to predict unforeseen delays and track your shipments.
3. Integrates seamlessly with other tools.
4. Email notifications provides updates on each milestone, such as customs clearance, cargo loading/unloading, and container stuffing.
5. All Bills of Lading (BLs) can be easily created and shared through the platform.
6. Offers a seamless transition from customer inquiry to quotation to final shipments.

Pricing: GoFreight’s pricing is available on request. You can watch their demo to learn more about the software.

Soft link Global: Product: Logi sys

1. Quickly and easily upload any document into the system.
2. Reports will provide you with all the important information available in the system for further analysis.
3. Through Tracking, you can easily track shipments and find sailing schedules.
4. All Bills of Lading (BLs) can be easily generated from the system.
5. Through Electronic Data Interchange (EDI) Manifest, you can easily transfer data to external stakeholders.
6. Customer invoices can be managed through Financial Management.
7. Quotations can be easily created from the system.

Pricing: You can request a free demo from the website. Pricing is on request.

Shipthis

1. Users can easily generate quotations through the system with the help of rate management.
2. Accounts payable and receivable are possible through Financial Management. It’s a fully tax-compliant platform.
3. All important operational documents and customer contracts can be easily uploaded to the platform. Lead management is also possible.
4. Through Sales Operations, salespeople can create new inquiries for new leads and share quotations quickly.
5. Cloud-based ERP provides advanced capabilities to streamline entire freight operations and enhance customer experience.

Pricing: Pricing starts at $89/per user/per month, and the software comes with a 30-day free trial.

Cargowise One

1. Utilize tracking capabilities to monitor your shipments before they reach their destination and easily identify any unforeseen delays.
2. Leverage Electronic Data Interchange (EDI) to seamlessly send data to any third-party or customs portal.
3. Streamline business operations by automating booking requests, shipping instructions, and consolidation advice through electronic messaging.
4. Air eBooking simplifies the air booking process through electronic, direct bookings.
5. Flight Schedules provide visibility from various flight operators.
6. Rate engines offer a comprehensive view of buy and sell rates, tailored for forwarders.
7. Comprehensive accounting and operational tools mitigate financial risk and simplify operational transactions.

Pricing: Cargowise offers a free demo, but its pricing is only available upon request.

Things to Check While Buying Freight Management Software

1. User-friendly nature and end-to-end centralized system

• Intuitive systems are easier to adopt, require less training, and can be seamlessly integrated with existing workflows.
• A detailed demo or a paid trial can help you gauge how intuitive the system is and how it can benefit you.

2. Seamless end-to-end centralized system

• It is recommended to choose a centralized end-to-end freight management software where all modules from Sales, CRM, operations, and finance are closely integrated.
• The benefit of a single comprehensive centralized system is that minimal effort is needed for data entry as data is entered once and can be used at multiple stages. Implementation time and processes are also simplified.

3. Product customization and adoption

• The software must be versatile and flexible enough to adapt to the changing market demands.
• Ensure the solution is easy to implement into your existing framework.
• The system must be flexible and proficient enough to be configured as needed. It is neither viable nor lucrative to make complex changes to the entire system at every technical hurdle.

4. Modern technology and regular upgrades

• Ensure the freight management software operates on modern technologies and is compatible with all currently used devices such as smartphones, tablets, and laptops.
• Regular upgrades fix errors, bugs, and legacy system issues, improving compatibility with upcoming technologies and operating systems.

5. Software infrastructure & data security

• Earlier, most software providers offered on-premises infrastructure setups with limitations such as storage space constraints, performance, and speed issues due to limited CPU cores. SaaS-based system infrastructure can avoid these issues, providing flexibility in infrastructure setup and reducing on-premises database administrative costs.
• Look for ISO-certified software where all data security and safety protocols have been authenticated by respective agencies.

6. Customer support

• Regardless of how user-friendly a system is, you may encounter issues that require customer support in the long run. Ensure real-person customer support (compared to IVR) is available to address specific issues.
• Before finalizing the software, check the availability of customer support for critical issues. Choose customer support that offers 24/7 availability for critical issues.
• Look for a service provider that offers a ticket management tool where you can quickly raise concerns, define priorities, and track the latest status of issues.

7. Document Management System

• An important feature to look for is automated shipping documents, which save time and effort by automatically generating all required documents for your shipments, including HBL/HAWB copies, manifests, delivery orders, Cargo Arrival notices, etc.
• Check how quickly you can upload, attach, and download important documents from the system without restrictions on document size and format.
• The software should provide auto status updates so that whenever there are changes in your shipments, you are immediately alerted via email or text message.

8. Data analytics for correct decision-making

• BI Tool: Analytics provides a complete picture of the total cost of ownership, helping you understand what works best for customers and what to add to your company portfolio. This ensures you are making the correct decisions for your team and organization.
• Dashboard: System dashboards provide detailed information on various shipping activities, helping identify areas for improving efficiency or saving money.
• Reports: You should be able to generate reports from different modules like finance, supply chain operations, sales, and CRM. These reports can be used for future planning and decision-making purposes and for monitoring the performance of each business area.

Conclusion

Selecting the right freight forwarding software is crucial for optimizing your logistics operations and staying competitive in the market. Each software solution offers unique features and benefits tailored to different business needs. Thoroughly evaluate your requirements and consider the key features and pricing structures of these top solutions to make an informed decision.

By leveraging the capabilities of advanced freight forwarding software, you can enhance efficiency, improve customer satisfaction, and achieve greater profitability in your logistics operations.