Delayed shipments and high shipping costs have led to the widespread use of multi-carrier shipping software. On the one hand, businesses strive to meet customer expectations for fast and reliable delivery, while on the other, there is fierce competition among carriers.
The multi-carrier shipping software market is expected to grow from $2.4 billion in 2023 to $4.3 billion by 2033, with a CAGR of 12.6%. As the demand for real-time shipment tracking increases, businesses should prioritize multi-carrier shipping software to increase operational efficiency, reduce shipping costs, adapt quickly to demand fluctuations, and avoid delays.
This article will discuss the key benefits of using multi-carrier shipping software for businesses.
What is multi-carrier shipping software? Multi-carrier shipping software is a comprehensive platform that uses multiple shipping carriers (e.g., FedEx, UPS, DHL, or regional carriers) to transport goods. Rather than relying on a single carrier, businesses can integrate with various carriers and services to compare rates and transit times, and select the most cost-effective shipping option.
As businesses grow, a multi-carrier shipping system such as Freightify becomes essential for saving time while focusing on important aspects of growth.
The Freightify platform centralizes shipping operations, helping businesses save time and minimize errors by managing all carrier interactions, bookings, and tracking in one place. One feature includes real-time shipment tracking, improving visibility and transparency to help businesses gain peace of mind since they can proactively address delays or package mishandling.
The benefits of using a multi-carrier shipping software Multi-carrier shipping software empowers businesses to streamline operations, improve decision-making, and stay competitive. Let’s explore its key advantages.
1. Improve Decision-Making A multi-carrier shipping software helps businesses make informed decisions by providing comprehensive tools for data analytics, cost management, and performance tracking.
Businesses use analytics and reporting to monitor shipping performance, track costs, and identify trends. A multi-carrier shipping software supports continuous improvement in decision-making by providing data, making it easier for businesses to monitor performance and make informed decisions. Freightify’s analytics tool helps companies gain insights into shipping performance and costs. With clear and intuitive visualizations, companies can decide on future shipping strategies based on the insights gained from past performance.
In addition, a multi-carrier shipping software like Freightify allows businesses to compare shipping performance directly using performance metrics tracking. Companies can track estimated arrival times, transit times, and touchpoints along trade lanes. This helps them evaluate if a specific carrier can service a particular trade lane or port pair, which helps in making informed decisions. Freightify lets businesses search multiple port pairs, starting with a 3x3 grid and expanding to 10 pairs. This allows businesses to compare rates and carrier services, leading to correct judgment and favourable outcomes.
2. Improved Operational Efficiency and reduced costs A multi-carrier shipping software automates booking and rate comparison. This reduces manual errors and saves time by automating the steps involved in booking and accurate pricing calculations.
Freight index tools offer real-time data on average shipping rates across different regions, shipping lanes, and carrier services. This allows businesses to understand current market conditions and avoid overpaying for shipping services.Â
Rate benchmarking tools help businesses compare the rates offered against industry standards. This allows them to judge wisely before accepting pricing settlements from carriers. For instance, companies can negotiate better terms or explore alternative carriers if a carrier rate is higher than the benchmark. Access to benchmarking data also helps businesses gain confidence when negotiating terms with carriers since they can present factual data on market rates to push for discounts.
Freightify's streamlined Freight Pricing and Procurement tool enables pricing visibility, allowing forwarders to view and compare real-time rates from different carriers. This transparency empowers better decision-making and helps businesses reduce operational costs .
3. Increased Flexibility and Carrier Options A multi-carrier shipping software helps businesses provide access to a diverse carrier network. Businesses can choose from a wide range of local and international carriers, which empowers them to switch carriers based on performance, cost, or reliability.Â
The software helps companies adapt to carrier availability. When there are service disruptions, strikes, or delays with a specific carrier, businesses can immediately switch to another provider, ensuring smooth operations and avoiding costly delays.
Freightify’s Multi-Search tool increases flexibility and carrier options by allowing users to search between multiple port pairs simultaneously. It starts with a 3x3 grid, enabling users to compare rates and services for up to nine port pairs simultaneously. This feature helps businesses explore different carrier options.
4. Proactive Risk Management A multi-carrier shipping software enables carrier diversification. Businesses should avoid over-reliance on a single carrier by switching between multiple options. Multiple shipping options also empower business continuity. This guarantees reliable service even during carrier outages, strikes, or market fluctuations. This range of options keeps the supply chain running smoothly, minimizing the impact of any single disruption on overall business operations.
Multi-carrier shipping software has advanced tracking features with real-time shipment updates, allowing businesses to monitor every shipping update. If a notification alerts businesses of potential delays or disruptions, proactive management is employed before the issue triggers losses. This visibility helps companies to address challenges quickly and reduce the risk of significant delays or financial losses.
Freightify’s Multi-Search Tool empowers businesses to manage risk by empowering them to compare multiple carriers and routes simultaneously. By starting with a 3x3 grid and expanding to up to 10 port pairs, forwarders can quickly identify the most reliable and cost-effective shipping options. This flexibility reduces reliance on a single carrier, allowing them to switch if a carrier delays.
5. End to End Rate Visibility A multi-carrier shipping software provides real-time data on trucking rates and service levels, empowering businesses to decide which carrier to use for last-mile logistics . This ensures that goods reach their final destination on time and at the most favorable cost.
In addition, access to full rate visibility reduces the risk of unexpected fees or surcharges during the last-mile stage. Businesses can budget for their deliveries by seeing all costs upfront, leading to smoother operations and improved customer satisfaction. This transparency ensures that last-mile delivery runs smoothly.
Freightify's multi-carrier shipping software enables end-to-end rate visibility by providing a centralized platform where businesses can access and compare shipping rates across multiple carriers for the entire shipping process. Businesses can view detailed rate breakdowns, including costs for first-mile, middle-mile, and last-mile segments from the point of origin to the final delivery.
6. Adapt to Rising E-Commerce Demand A multi-carrier shipping software enables fast order fulfillment. Businesses can select carriers that deliver on time to meet customer expectations for fast shipping times by expanding carrier options during peak seasons .
With multi-carrier shipping software, businesses can offer a range of delivery options that meet rising e-commerce demands, leading to customer satisfaction. Freightify’s Multi-Search Tool helps businesses search and compare rates across multiple port pairs simultaneously, allowing companies to scale their shipping operations during demand spikes, especially in peak e-commerce seasons.
Multi-carrier shipping software helps businesses respond to demand fluctuations by offering a wide range of carriers, ensuring that they can handle surges in orders without sacrificing service quality. Freightify’s Multi-Search Tool ensures that businesses can meet the growing demands of e-commerce by providing clear rate comparisons and access to a diverse carrier network.
7. Save Time A multi-carrier shipping software helps businesses save time by automating rate and carrier comparisons. This eliminates the need for manual rate checks, since the software instantly compares rates across multiple carriers, allowing businesses to find the most cost-effective shipping options quickly.
Also, with multiple carrier shipping software,businesses no longer have to juggle multiple systems or communications channels, which reduces the time spent on administrative tasks.Â
Real-time monitoring and alerts in multi-carrier shipping software allow businesses to instantly get updates and address shipment delays. This proactive approach ensures quick resolution and saves time.
Freightify rate automation tool automates rate comparisons. Instead of manually checking rates across different carriers, the software provides instant access to real-time rates from multiple providers. This automation allows businesses to quickly select the most cost-effective shipping options, and save time.
Maximize Customer Satisfaction with Freightify's Multi-Carrier Shipping Software Multi-carrier shipping streamlines operations, improving efficiency, cost control, and flexibility. With advanced analytics, flexible carrier options, and cost-saving features, Freightify helps businesses reduce costs, improve efficiency, and deliver on time, enhancing customer satisfaction in today's competitive market.
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