July 13, 2021

Best Practices to Compete With Digital Freight Forwarding Companies

Miles Varghese
Miles Varghese
Helping independent freight forwarders/brokers better stay in-sync, collaborate, and improve operations with their shippers/clients. Co-founder & CEO @ Cargologik.com
Digital Freight Forwarding Companies

The boom of e-commerce within the supply chain forces companies to compete with digital freight forwarding companies with more tactful operations. Domestic freight forwarders and others within the industry can keep up with the demand for the e-commerce led supply chain if they understand customers’ needs. They achieve this feat by knowing how to continuously add value, and that means knowing a few tips to success. Let’s take a closer look at these tips or best practices and how they enable a better and more strategic competitive advantage for freight forwarders.

1. Understand Your Customers’ Needs by Tracking Their Interactions With Your Business

For digital freight forwarding companies, collaboration and technology will be the key factor for remaining competitive in the booming e-commerce market. Understanding customers’ needs are easier to handle if businesses track their interactions with potential clientele from the beginning. 

2. Recognize That Technology Is Continuously Evolving

As the world reaches each technological milestone, remember that technology will always be changing and evolving to meet the next need. This can be difficult to keep tabs on, but the devil is in the details. According to Deloitte.com, professionals continue to fail to keep up with the current tech demand in many ways, but the biggest risk is getting lost in the weeds. The solution is to choose and keep their tech stack more actionable, insightful and direct. 

3. Streamline Freight Settlement and Payment With Integrated Systems

As far as being an international freight forwarder within the space of other digital freight forwarding companies, the effort to consolidate payment with more centralized systems continues to reign supreme. Freight settlement and methods of payment can be performed at a more efficient rate by integrating existing systems with upgraded and new systems. This process is faster and boosts the likelihood of remaining competitive. And it also builds rapport with your carrier partners.

4. Measure the Health of Your Business With Analytics

Freight forwarders must know how their business is performing, and by using analytics that monitor everything, it’s easier to keep track of successes and failures.  With the help of descriptive, predictive, and prescriptive analytics, experts can determine when issues might become impactful, why and what’s necessary to avoid them. Not only can they monitor this in real-time, but analytics insights also provide an opportunity to capture problems before they become costly or detrimental. Staying competitive with digital freight forwarding companies means reducing issues and proactively monitoring each piece of the business for improvement. 

5. Ensure Your System of Record Fully Integrates With All Major E-Commerce Platforms

Another way to enhance collaboration by digitizing your freight network and to stay competitive with digital freight forwarding companies is to ensure the system fully integrates with all major e-commerce platforms. This means the current system can also meet the same quality as other major e-commerce platforms because the same information can be obtained and shared in real-time.

6. Implement Sustainable, ESG-Oriented Transportation Management Goals

The best way to keep e-commerce giants from monopolizing the market is to implement sustainable transportation management goals. More companies are recognizing that environment, social and governance-oriented goals can increase competitive advantage. Unfortunately, many supply chain professionals do not know they need to bear this in mind. However, the supply chain is responsible for a large carbon footprint. The world wants more sustainable options, and this can ensure a competitive edge for those who need more visibility. 

Stay Competitive by Choosing the Right Platform for Digital Freight Forwarding Companies, Brokers and 3PLs

Whether experts and supply chain management are navigating volatility with technology or simply trying to enhance their services, choosing the right platform for business needs means remaining competitive in this e-commerce driven world. Sign up for Cargologik to enable the best in independent freight forwarding. 

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