Running a business and shipping your parcels from the carrier service provider can be a hefty task, especially when you are shipping large volumes of parcels every year. You cannot go through every single parcel invoice each time searching for discrepancies. But it would be best if you did. That’s why you need to connect your business with a brilliant parcel spend management solution.
Using a carrier service for your parcel shipping requirement seems effortless, but carriers do not maintain complete transparency throughout the life of your contract. At any point during the term of your contract with the carriers, you may be hit with added surcharges, peak season charges, or general rate increases. As a business owner, you cannot locate these irregularities in the contract, and going through incredibly detailed and lengthy invoices manually can be daunting and time prohibitive. An automated parcel management system can be an excellent solution to this problem. The following article will explore the five best ways to boost your profits with parcel management solutions.
1. Select the Most Effective Carrier
Carriers differ in delivery times, costs, efficiency, and more, making it confusing to compare various options and make informed decisions about cost-effectiveness. With the assistance of analytical, automated processing, carrier selection can be easy. An effective parcel spend management solution can enable you to make better comparisons with in-depth analysis.
Local or global, this solution drastically increases carrier options through a vast network of regional and specialty providers. It can provide real-time carrier costs, delivery time, and capabilities. Always select the most cost-effective and timely carrier service provider for each shipment. With the optimized selection, your customers get their products on time, and you potentially save thousands of transportation dollars.
2. Refine Supply Chain Visibility
Parcel management solutions simplify parcel coordination and meet customer expectations for a seamless experience. The system delivers comprehensive supply chain oversight, tracking shipments so parcel shippers can adequately inform customers of delivery dates and delays.
Moreover, parcel spend management solutions provide quick, self-service reverse logistics through automated processing. With limited manual inputs, this solution leaves no room for human error. Technology-backed parcel management builds trust and encourages repeat customers by keeping people well-informed and enabling transparent supply chain visibility.
3. Reduce Parcel Shipping Costs
For shippers with high parcel volume, finding cost savings opportunities is a serious concern. Parcel management solutions enable you to drill down to the minute discrepancies in your shipping invoices, and via their parcel contract negotiation services you can potentially avoid unwanted fees and surcharges. This solution allows you to optimize your transportation budget by providing industry-appropriate rates.
4. Speed Up Your Shipping Flows
With the constant increase in parcel demand, businesses must prepare for the implementation of effective and accurate shipping flow. However, this can be challenging, especially for businesses entering new markets.
Shipping flow comes with difficulties regarding taxes, blowback for noncompliance, and hefty regulations. Parcel management systems limit exposure to unwanted penalties and fines by automating shipping compliance. This solution searches address directories to guarantee that each shipping address is correct and up to date.
5. Efficient Information Sharing
Modern parcel optimization involves various systems, from financial solutions like enterprise resource planning (ERP) systems to logistics technology like a TMS (transportation management system). They even collaborate with sales and finance teams to bridge the departmental silos for a better information-sharing process.
Many shippers use carrier-provided systems for their parcel management, but these systems are limited to their own carrier service information. This restricts shippers’ ability to incorporate and access multicarrier details from a single viewpoint.
Parcel management solutions resolve this problem through flexible multicarrier automatic information sharing on a single dashboard for you to make better strategic decisions for your parcel shipping.
Diversify your parcel shipping with cutting-edge technology.
TransImpact’s Parcel Spend Management delivers end-to-end visibility into your parcel optimizations. Our solution provides features like Parcel Spend Overview, Invoice Summary, Period vs. Period Analysis, and Audit Analysis. This technologically backed solution empowers you to make better decisions and save significant costs on your parcel spending. To explore more about our solutions, talk to one of our experts or schedule a demo.