Transportation Spend Management: 4 Ways Shipping Technology Reduces Costs

As the supply chain continues to evolve, new shipping technology has readily emerged alongside it. Many businesses have integrated these impactful tools to meet the demand for change in the transportation market. And since transportation costs continue to rise, 11.4% in 2019 and an unreported amount in 2020, says FleetOwner, the need to control logistics spend has never been higher. The benefits of reducing costs and saving time are always a plus, but the ability to automate and streamline specific processes has changed the entire game. This modern technology also promotes solid data-driven choices, allowing for more efficiency in creating and implementing shipping strategies. And shippers need to know the top four ways to reduce costs and exponentially save time by utilizing this powerful technology.

It Reduces Time Wasted in Auditing Invoices

Digging through filing cabinets, sifting through mountains of paperwork, and manually locating errors within shipping bills or invoices when auditing consumes large amounts of time and effort. Team members find this very tedious and exhausting. The solution is to have all documents digitized and in a central data location where a thorough search is just a click away.

Shipping technology grants this ease of access which ultimately reduces the time commitment required in finding mistakes and reduces human errors. Without a doubt, this saves a ton of time and certainly presents more opportunities for team members to work on practical tasks that directly increase revenue.

Technology and Automation Streamline Back-Office Management

Many back-office processes consume unnecessary amounts of time. That much is simple, and most businesses have now turned to automation tools for monotonous and repetitive tasks to save time and essentially money. Automating tasks like record keeping, data entry, and payroll saves valuable hours that can instead be spent on front-end priorities. Shipping technology promotes a solid digital streamlined approach. This essentially allows employees to accomplish more in less time. No longer do team members have to worry about lost papers and making avoidable mistakes. This whole process will focus and energy back on the predominant tasks earning organizations more time and reducing costs.

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Shipping Technology Enables Data-Driven Decision Making

The manual process of carrier selection involves many complexities. For instance, determining the optimal combination of rates and lanes for a specific shipment requires accurate calculations. The guesswork gets eliminated in this grueling task, thanks to technology like a transportation management system (TMS). In real-time, this serviceable technology enables businesses to choose the best carrier for each shipment based upon service level and cost. Shipping technology offers solutions that help logistic and parcel decision-makers arrive at the best possible data-driven conclusions.

Integration Keeps Collaboration and Workflows Moving

For day-to-day operations, integrating popular cloud-based tools allows for the communication pipeline to flow much more straightforward. Instead of sending files back and forth via email or making lengthy phone calls, team members can fluidly share documents and update one another in real-time. Shipping technology encourages collaborative exchange, and things like the cloud effectively bridge tasks that require cross-department involvement. This significantly saves time, reduces costs, and makes communication simple.

Reap the Rewards of Shipping Technology to Reduce Shipping Costs Today

Companies have increasingly embraced these essential time-saving and cost reduction solutions. And the demand for more supply chain KPIs is promoting a more data-driven and collaborative approach to performance improvement. Streamlining and automating time-consuming tasks has pathed the way for transportation modernity in today's supply chain. This new technological standard enables data-driven decision-making, enhancing shipping strategies, and improving overall outcomes, which brings lasting cost-reducing benefits to shipping businesses worldwide. The integration of shipping technology promotes a seamless collaboration across the board with ease and simplification, making employees more productive, less stressed, and above all, efficient. Connect with Intelligent Audit to get started.

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