It has been a rocky few years for the shipping industry. While the path ahead may still have its share of hazards in 2023, some of the pandemic-era supply chain pressures have eased and shippers have bolstered their resilience with a focus on technology. Of course, that won’t solve everything, but one of the areas of focus — freight claims — should be boosted with the streamlining that can be achieved with new freight claims management software.
In this blog, we will take an in-depth look at freight claims software and how it can help shippers emerge from the old days of manual documents. We will also analyze the difficulties and pressures that face the shipping industry and what freight claims software can do to assuage those fears.
What is Freight Claims Software?
When dealing with freight claims, you can often feel like you are being swallowed up in an ocean of documents and deadlines. Freight claims management software allows you the chance to keep your head above water for every stage, from the submission of your initial documents to the end result when your claim is settled. On a single software platform, you can manage every step:
- Submit new claims easily and quickly: You can organize your documents and pictures all in one place.
- Update and track existing claims: Keeping up to date with what stage your claim is at is strikingly easy with this software
- Add documents and notes: If additions or changes need to be made to your claim, they can be done without much more effort than the click of a button. Plus, notes can be added if needed during the process.
- Lower transaction and administration costs: With the easy handling of all the documents in one platform on the computer, you can reduce the time spent recording all the information and trying to track it down when needed. Also, there is a less likely chance that there will be fees when items need to be added.
- Streamline communications: To connect with other parties becomes almost effortless when you can easily forward them everything that is required in the same file. They can respond back quickly as well because they don’t have to spend time tracking down any documents that are in question.
You can say goodbye to many of the headaches that you had to deal with when using the old manual freight claims processes:
- No more overhead of manual document management: The time it would take to compile paperwork and the resources used to make sure paper copies were made of all the documents are now memories.
- Less risk of missed deadlines: With a software platform that alerts you when deadlines are approaching, there is no longer the worry that you will miss Carmack Amendment deadlines. Expert-driven freight claims software is the key to processing claims quickly and efficiently without a worry about the statute of limitations.
- Much clearer visibility: All documents and forms are in the same file and not only can you see or double-check if there is a concern but you can also see where your claim is in the process in real-time. There is no longer the waiting until the only time you found out if the claim was accepted was when the process was all over.
With Difficulties Ahead, Shippers Turn to Freight Claims Software
Now more than ever, shippers are depending heavily on freight claims software. With the thinning of the labor force, and concerns of a possible recession, there is the likelihood of more freight claims and that those claims will be more costly. That all makes the need for a quality freight claims software platform more crucial. Let’s take a look at the issues that are facing shippers:
Fears Cause Industry Layoffs
Some of the big-name logistics companies have recently made significant layoffs in their workforces. This seems to signal that there will be an industrywide reduction. The state of the economy and the tremendous fluctuations in operational costs have companies considering ways to lower overhead. When staff is reduced by layoffs, that usually means the remaining workers will have to struggle to maintain operations. That frequently leads to hurrying and then to an increase in mistakes (i.e., the types of errors that lead to more freight claims). Reliable freight claims software can help keep up with the greater number of claims and make it easier for managers and employees to stay on top of them.
Warehouse Labor Shortage Puts Shippers Under Pressure
In a survey last year, 73% of warehouse operators said they can’t find enough labor. Much like the layoffs in logistics, this lack of being able to hire workers means that warehouses are struggling to keep up and operate at capacity. This can be especially difficult for companies that ship freight requiring temperature control, which is extremely time and condition sensitive. With fewer people to keep an eye on all the products, there are going to be slip-ups and missed assignments which will lead to more freight claims. Again, with an increase in freight claims, it means having a quality software platform becomes even more vital to your company.
High-Stakes Economic Outlook
Recent inflation and the possibility of a recession in 2023 are causing quite a bit of concern for all businesses. The World Trad Organization has warned of a sharp slowdown in global trade this year and economists foresee a 1% increase, notably lower than a previous estimate of 3.4%. Interest rates are forecasted to rise, causing further repercussions. With so many economic factors in flux, shippers should nonetheless utilize freight claims software in order to ensure that operations are running as cost-effectively as possible.
Economic Concerns in 2023 Make it Even More Clear it’s Time for Shippers to Turn to the Software at FreightClaims.Com
Economic unpredictability seems to be the main theme for the shipping industry in 2023. With concerns over inflation rising and the possibility of a recession, it’s hard to know what the year will hold in store. All of the issues we’ve mentioned will have an impact on freight claims. Being prepared for that is crucial and that’s where freight claims management software can come in handy. With FreightClaims.com’s software, you can get everything you need to follow through with and stay on top of your freight claims. From entering the details when you begin your claim until the time it is settled, the FreightClaims.com software will help you through it all — organizing pictures, compiling shipping documents, streamlining communications, and meeting deadlines — from one user-friendly platform. To see what our software can do for you, request a demo today.
