How Technology Can Protect Your Profits
The following is an excerpt from the CoLoadX Whitepaper, “Logistics as a Service: How it Will Transform Your Ocean Freight Business”. Download your free copy here to learn more about how LaaS can help your ocean freight business grow.
The good news: You run a prospering business that has customers walking in the door.
The bad news: Now you have to absorb the cost of servicing all that business.
As it stands today, new business sets off a flurry of activity. For bookings with pre-negotiated pricing, you need to make sure there isn’t a better rate out there. An ad hoc request means you have to generate a spot rate. And so you turn to emailing – back and forth multiple times – with each of your vendors. But realistically, you don’t have the time to email more than three of them. So for all that effort, you’re still missing the big picture.
At high volumes, this is unsustainable. The exponential growth of email communications drains time and resources from other activities. Many companies respond by hiring multiple expensive pricing specialists. But this inefficiency of manual price discovery, even if only for spot business, is immediately solved by a digital platform.
The only sensible solution is to move from one-to-one communication to a platform that allows you to communicate and share information with vendors, clients, and partners in one centralized location. Why send a rate request to one NVO at a time when you can post one request and let proposals flow to you? These requests and proposals will also have complete information, eliminating the need for back-and-forth requests for additional data.
As your company grows, the hidden costs of fulfilling the demand for your services can eat away at your profits and distract you from the core value you bring to your clients. Adopting a tech-driven platform will allow you to scale your business while making sure that your growth in revenue always outpaces your growth in expense.
Download the free CoLoadX whitepaper, "Logistics as a Service: How it Will Transform Your Ocean Freight Business" and see how LaaS will help your company grow.
By: CoLoadX on Aug. 2, 2017, 9:57 a.m.