As the tremendous demand triggered by the COVID-19 pandemic tapers off, companies need to conserve money. One of the prime areas to cut spending is labor, meaning we have seen recent layoffs at some of the larger logistics companies. Some workforces have been cut by 20%. This trend is likely to continue in other supply chain businesses, especially in companies with few other assets. “They don’t have the assets or the fleets or maintenance programs, things like that, that they can try to reduce costs on,” said Spencer Shute, principal consultant at Proxima. “It ultimately comes down to labor, which is their biggest expense.”
Reducing labor costs usually means an increase in another area: freight claims. The reduction in employees means the workers still around will have to cover more ground, perhaps ground they are not all that familiar with, while carriers navigate restructuring. That can lead to workers being overwhelmed and making mistakes from rushing. That means there will likely be more freight claims submitted. Shippers need greater control over the freight auditing process with improved claims strategies through flexible cloud-based management software to counter this influx of claims. In this blog, we look at freight claims management software and the strategies that can be leveraged by using it.
The days of manual freight claims management are fading away. Manual procedures are full of pitfalls, such as data entry, mislaid documents, and missed deadlines. This is replaced by freight claims management software that makes all procedures more efficient, faster, and aware of approaching deadlines.
Freight claims management software can reduce the time spent on claims. It can easily store all the documents in one place, provide alerts when a deadline is nearing, and provide in-depth visibility to reduce future losses. By streamlining almost every part of the freight claims process, you save time and money and can expect your freight claims to be OK’d faster than they did in the past manual days.
Cloud-based freight claims software offers many benefits. These benefits can help shippers with their freight claims of today and how the process can be improved in the future. Let’s take a look at three strategies in which this software can provide you with a maximum advantage:
Documents and deadlines go hand-in-hand. You need the documents ready when the deadline arrives. Freight claims management software provides the technology necessary to compile all documents into one place on its cloud-based platform and process claims quickly and efficiently. This can be included in a shipper’s transportation management system (TMS). With all documents together and available with one quick click of the mouse, this can also make communication with the other parties involved in the claim much easier. When any deadline approaches, everyone will be updated with all the needed information, and there will be no reason to miss a deadline.
The ability of integrated data to combine information from multiple sources means that shippers can look at the bigger picture — not just the current claims but what might be done to curtail claims in the future. Using analytics, shippers can see things such as the number of open claims, the claims in order by date to help prioritize them, and a list of the settled claims to ensure they have been reimbursed. The analytics can also help a shipper organize and examine the data of all claims to spot tendencies that might tell them that one carrier is more likely to result in claims or that one specific lane is inclined to more lost or damaged shipments.
Cloud-based freight claims software allows new claims to be submitted in a fraction of the time. This enables freight claims to keep up with the dynamism of the rest of the fast-moving transportation industry. With the right software, your freight claims team won’t have to worry about that.
This blog has provided plenty of reasons to switch to having cloud-based freight claims management software in your stable. It makes processes faster and more efficient, helps you find ways to reduce freight claims, compiles all needed data into one accessible place, and keeps you up on deadlines. This software can make your life much easier. And to make it even easier, you can partner up with the folks at FreightClaims.com, who are at the forefront of freight claims software. From start to finish, FreightClaims.com’s software can help guide you all the way to your reimbursement. Organize pictures and shipping documents, easily communicate with other parties and meet deadlines from one user-friendly platform. Plus, you can leverage the user-friendly dashboard with analytics to help you perform better now and in the future. To request a demo, take a look at our website today.
