How a Cloud ERP Platform can eliminate Revenue Leakages of a Freight Forwarder

The main reasons for revenue leakages are faulty operational & accounting processes & lack of control & measurement of overall activities. These can be eliminated for a Freight Forwarder with the help of the following features of a Cloud ERP Platform -

i) Operational Productivity –

• Centralized Master Data maintenance.

• Drastic reduction in manual data entry.

• No more manual communication amongst stakeholders.

• Reduction in documentation processing time due to integration with other modules, Sales, Carrier integration and Customs (Carrier Booking, e-SI Submission, Custom Filing etc)

• Reduction or zero down documentation errors & mistakes which results in less time spent on discussing clerical and admin issues.

• Electronic Approval process between executive and manager and with customers too.

• Auto email alert and SMS alerts, email message can be sent using predefined templates.

• Configurable Report Schedulers, MIS for customers.

• More time spent on logistics activities, redeployment of employees to add more value to the organization.

ii) Accounting Productivity –

• Automated billing using quote and tariff improves invoicing process time and reduces generation of unnecessary Credit Notes.

• Tight integration of Purchase booking and Payment approval process.

• Exception Reporting and real time visibility of pending shipment for billing, outstanding.

• Real time integrated operational & accounting modules help reducing cost of errors and increased processing time.

• Flexibility to generate Customized reports and adhoc report writing and querying capabilities

iii) Increasing Control & Measurement –

• Vendor Evaluation.

• Identification of best suitable tariff rates

• KPI for Vendors & performance tracking

• Credit Control System to control Credit. Approval process for amending quotation, expense & credit notes.

• Charge locking from quotation to shipment to expense.

• Unrecovered expense listing.

• Cost sheet – back to back listing of Income heads against expenses.

• Stop offering non valid tariff to customers.

• Real time identification of pending jobs for billing.

• Auto reminders for Customer Outstanding and Collections

• Use of Management Information System (MIS) & Business Intelligence to measure Sales Team Performance, Customer Performance, Carrier Performance & Performance of Service Providers.

• 360º View of Business Operation and Financial information

• Better Decision making due to complete audit trail up to transaction level

• Measurement of TAT (Turn Around Time) of your Operations and Accounts and measure over a period of time

For more info on Logistics Software go to www.softlinkglobal.com