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

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

May 08

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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

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