For shippers, freight claims waste time, cost money, and increase anxiety. Having the right freight claims software can be the saving grace and help companies keep turning a profit even during such volatile times. There are many components in claims software and knowing which option suits a company best can make the difference between a well-oiled machine and one just sputtering along. Freightclaims.com can help shippers find the perfect platform to solve their claims problems in an efficient manner.
Freight claims can be an extremely complex maze of documents and regulations that often takes much time to resolve. To understand how quality claims software can make a difference for shippers, they need to understand the world of freight claims.
A shipper or consignee files freight claims if goods are damaged in transport, contaminated, lost, or delayed. Carriers are responsible under the law for covering valid freight claims. If the management of those claims is poorly handled, that can lead to greater expenses and legal hassles. And with a global financial impact of cargo loss that exceeds $50 billion annually, according to the National Cargo Security Council (NCSC), astute and comprehensive freight claims software can be a lifesaver.
Some software, such as Excel for spreadsheets and data and Word and Adobe for bills of lading, can perform the minimum claims management tasks. However, those platforms can also get bogged down by the multiple applications. The result can be a crowded, confusing tech stack that leads to lost documents and then lost revenue.
By implementing an easily integrated freight claims management software platform into an existing tech stack, shippers can avoid the freight claims management confusion and hassle of using multiple applications and instead access the seamless performance of a cross-platform, broadly accessible freight claims interface.
Last year, the average cost of shipping a 40-foot-equivalent unit (FEU) surpassed $10,000, the Economist reported. Although the cost per FEU has decreased since last year to $4,942, according to Drewry, it’s clear that shipping costs are highly volatile in the post-pandemic era. It’s also clear having trustworthy partners is vital in a time of such cost uncertainty. Part of that trust is built from having freight claims software in a shipper’s most dire moments.
The value of the freight visibility market grew to nearly $300 million in 2020 in North America alone. That total will triple to $1 billion by 2024, cites global research and advisory firm Gartner. With many freight claims software options, shippers must realize that choosing the wrong partner could be quite costly. It’s imperative to separate the ideal software partner from the ones without the expertise of dedicated software.
Shippers should consider a few key criteria to understand what they need from a freight claims software provider.
Forward-thinking shippers are looking to identify worrying trends in their logistics processes, and that’s where reliable freight claim analytics can mean the world of difference. With reliable analytics and easy access to data with the right freight claims software, some money-zapping glitches can disappear.
The global logistics industry reaches almost every nook and cranny, from two-lane highways to the high seas. That means logistics professionals need to be able to access their claims on-site and on-demand. By partnering with a cloud-based freight claims software platform, shippers can ensure that their logistics partners have access to the information they need.
Lost claim documents are the bane of any manager’s existence — think of the old file cabinets overflowing with paperwork. Those missing slips of paper all equated to lost revenue. But with the right freight claims software platform that provides easy-to-navigate document management capabilities, shippers can ensure that the bills of lading, agreements, and other vital logistics documents are on file and available on demand.
A freight claims software provider that uses tools such as an easy-to-navigate online dashboard can improve the user experience and turn a hindrance into an asset. Shippers can visualize a world where tracking down multiple bits of data can be done almost instantaneously, anytime, anywhere.
When you combine an endless set of logistics tasks with often time-sensitive action items of freight claims, shippers can be overwhelmed. That’s another area where a software provider can help make sure logistics professionals can quickly be alerted and remain on top of their tasks.
With freight claims come strict deadlines. Miss those deadlines and that means missed money. Linking up with a freight claims software provider that offers integrated deadline management can turn those missed deadlines into made deadlines with software that conveniently organizes when claims are due.
Freight claims management can be a tricky, complicated business. Knowing all the ins and outs and staying on top of deadlines is enough to swamp even the most diligent of managers. That’s where freight claims software can ease those burdens at so many different levels from beginning to end and every stage in between. To see what magic the software at
FreightClaims.com can create for you. Request a demonstration today.
