Every industry on the planet is working with the goal of digitalization in mind, and the freight forwarding industry is rapidly changing to reflect that mission.
In a recent infographic, created by the staff at the Journal of Commerce (JOC), the various forms of digital capabilities among forwarders were broken into industry leaders and forms of technology. While an argument exists for each form of technology highlighted, the rise of digital platforms for forwarders is more noteworthy, and the JOC staff chose Cargologik as among the top leaders for that category! We told our moms right away, but really wanted to get the word out to the world at large.
But thinking a bit more about our shout out, it makes us wonder: what about the other categories, and what is Cargologik doing differently?
Let’s answer those questions by looking at freight forwarding tech and:
- Its business improvement capabilities
- Primary forms of technology and service providers across the globe
- + How Cargologik is transforming digital forwarding once and for all
What Does Freight Forwarding Technology Mean in Today’s World?
Freight forwarding technologies include a wide range of digital capabilities that help forwarders either manage workflows, automate processes, or enable more efficient and speedy processing.
Pandemics aside, freight forwarders are still essential in a world faced with continuing digital transformation, modern freight forwarding capabilities, and delivering a critical piece of service that in-turn helps their own Clients succeed. This means going beyond the traditional, yet redundant, email/text/call to book standards. Yes, one might argue that those established methods are a digital aspect of freight forwarding, but it is far too inefficient and prevents independent forwarders from working on their business, versus. in their business.
We like to refer to this as the “hamster-wheel effect,” where established forwarders and brokers are far too busy trying to win new customers, retain old ones, while also staying competitive in such a rapidly advancing and quickly evolving digital world. This is the true power of most FF tech.
Defining the Dominant Forms of Freight Forwarding Technology
The freight forwarding industry comprises five core forms of digital technologies, including:
- Marketplaces that provide a way for forwarders and shippers to connect, comparable to load-matching services in OTR trucking.
- Digital platforms for forwarders that create automated processes for small and mid-sized freight forwarders by giving them the resources to accommodate shipper quotes of all sizes, secure faster bookings and streamline processing.
- Rate management software providers that serve provide quick rate indices and help companies maintain compliance with contractual obligations.
- Digital freight forwarders that give shippers the ability to login and perform freight forwarding services themselves—eliminating the intermediary.
- Incumbent forwarders with instant quoting processes that work for some shipments and leave others unavailable.
Additional Aspects of Freight Forwarding Technologies Transforming Shipping
Even with the best technologies in place, there’s inevitably and almost always a degree of uncertainty. Controlling those known-unknowns becomes critical and these platforms serve a core role in helping organizations better manage and control variables.
These supply chain players become exceptional when their offerings transcend the five buckets of technology, and provide these core characteristics:
- Collaborative IT infrastructure that shares data and reduces barriers to integration.
- SaaS-based systems that let smaller freight forwarders compete with the biggest names in the industry.
- Multi-tenant architecture that connects supplies chains from end-to-end and beyond your four walls.
- Easy to Deploy systems that leveraged advanced connecting capabilities, including EDI and API.
- Improved visibility through real-time data that also supports management by exception.
- Using systems to handle all forwarding functions and grow businesses with less risk.
At this point, the role of freight forwarding technology merges with company values, allowing previously limited marketplaces to suddenly connect with more forwarders and brokers, quickly.
It often provides companies the ability to manage multiple bookings and contracted forwarding rates from a single freight forwarding platform. For example, Cargologik can transform outdated freight forwarding businesses into whole digital freight forwarders – providing a brand new digital experience for your team and your customers in just a few minutes after registration.
The whole process grows in value and effectively breaks companies into two categories:
- those that provide a resource for forwarders and brokers to thrive, and
- those that wish to eliminate the need to contact a freight forwarder in the first place.
Become the Freight Forwarder of Choice With Cargologik
Take a moment to think about this. What do marketplaces, rate management software providers, digital freight forwarders, and somewhat instant quoting capabilities all need?
A tool to support their digital freight forwarding efforts is the answer. Our recognition by JOC among the other five sole providers in this infographic, shows that we are clearly on track to become the digital platform for companies that wish to achieve “loyal customer” status and embrace digital freight forwarding and brokerage at last.
Learn more about how Cargologik is making freight forwarding easier for all companies with an industry-leading platform by signing up online right now. And, be sure to check out some of the other big names that Cargologik rose above as listed in the below-republished infographic.