Enhance Profitability in your Freight Business By Adopting The Right Financial Management Software

Business success is always the outcome of an enterprise’s ability to expertly juggle its finances. For a logistics service provider (LSP) keeping a watchful eye on the company’s finance flows can generate much-needed cash flow and provide an improved return on capital invested in the business.

There is an increasing need for a centralized robust financial information system due to the complexities related to the international nature of LSP's business. A sound financial management module can thus catalyze growth by enabling enterprise-wide control and reducing operational costs.

Recognizing LSP's need for financial control, Softlink provides a comprehensive accounting management module as an integral part of Logi-Sys, comprehensive freight management software. By closely integrating financial accounting with Sales & Operations, LSPs can take the right decision at the right time.

The finance module handles the complete accounting needs of the enterprise till finalization and ensures the flow of all revenue-related information from operations, automating the entire accounting process. The international nature of the LSPs business means that transactions often generate revenues in foreign currency, that’s when the need arises for a finance solution that can support multi-currency transactions.

Unfortunately, many LSPs feel that having accounts software that records and processes accounting transactions are adequate to look after their finances. However, there is a considerable difference between standardized accounts software and financial management software that is built to suit the specific requirements of the freight and logistics industry.

The comprehensive financial module of Logi-Sys, tightly integrated with operations enables all provisional and final receivables & payables to be directly posted which results in Zero Revenue Leakages and a reduction in operational costs. In-built features like an approval system help manage finances much accurately and reduce chances of errors and frauds. The freight software also provides enterprise-wide optimization of finance by regulating credit limits of customers, improving cash flow and revenue realization. LSPs can also control, manage and monitor the performance of individual cost centers/branches. Regulatory compliance can also be simplified with automated Tax Management features.

Advanced features like the automatic dispatch of outstanding statements weekly to customers, as well as online view of Invoices, enable LSP’s not only to improve their customer relationship but also their cash flows while reducing working capital requirements.

All in all, the Financial Management module as part of Logi-Sys is a valuable tool that is designed to automate and streamline financial processes. It’s like having your financial management expert equipped with tools and controls that will bring in more value for every dollar invested in your business.