Freight or logistics management software comes in all sizes and forms and selecting the one suitable for your company is something that requires serious thought. There are generic ERP solutions available that offer a logistics module most likely to be poorly suited to your company needs. Then there are other software which covers only a part your business operations. That is why a specialized logistics ERP designed specifically for the industry would make better sense. Here are some essentials to look for in your freight or logistics management software.
The first and foremost essential is whether it automates your current business operations end-to-end. Then the software should be flexible and scalable to your growing business needs. You cannot keep changing software every time your business need expands or you add more services to your business.
Your software vendors should have the solution ready at hand for the services you wish to start. Suppose you are currently into freight forwarding and later wish to offer warehousing and transportation services, your vendor should be able to offer you the necessary solution in the same software and not separate software for the new services. An end-to-end ERP for logistics ideally covers the freight (all modes), transport, warehouse, finance and accounting, sales and service.
After you are satisfied with the above essentials you need to look for some top-end functionality that is important in the software to give you a competitive edge in your business. One is the approval system which allows you to control your critical business transactions. With an approval system, critical transactions would require an approval from an authorized company officer before it is posted into the system. An alerts system in your software is another essential which will notify the responsible staff about any interruption or delay in your mission critical operations.
An automated daily report system (DSR) is very much required to reduce the burden on your employees by easing and automating the reporting system. Notifications to clients on important milestones will help you keep them updated on their shipment status. Track and trace will help your clients to keep a tab on their shipments at their convenience.
To have better control over your finance and accounting, you must have some essential features in your software like credit control system, automated invoicing and payment follow up system. With the credit control system you can ensure healthier cash flow by regulating your clients’ credit. Automated invoicing means elimination of errors while billing and ensuring no charges are missed out in your invoice. The payment follow-up system helps you ensure prompt recovery of receivables from your clients which again strengthens your cash flow.
While making a decision to buy freight or logistics management software you should evaluate and ensure such essential features are present. This way you will be selecting the right software for your business and also ensure its use without any hitch for a longer period of time.
