Four Features to consider when selecting new Forwarding Information System
Are you ready for global business?
The key success factors of the global logistics industry are cost & time savings, profitability and seamless networking between trade partners. The regulations of customs are becoming increasingly complex; so hence, the trade compliance is emerging as a critical factor of the freight forwarding business.
Important Features for Forwarding Information System (FIS)
Forwarding Information System (FIS) is essential solution to smooth these crucial factors that many forwarding companies are facing. And it should offer high system flexibility & scalability, which enables forwarders to save on Total Cost of Ownership.
In order to choose Forwarding Information System successfully, there are four features that should be given considerations as below.
- Establish Standard Operation Procedure
- Operation Visibility
FIS(Forwarding Information System) has to improve operation efficiency and customer service levels through the workflow function. First, Plan and manage SOP (Standard Operation Procedure). It helps creating the specific workflow of shipments according to predefined work procedure templates. Also it facilitates and checks customer orders and current status visibility by following the system through the provided procedure. Second, Operation Visibility Features. It means that we have to consider if FIS provides real-time operational status of customer orders. This feature makes us tracking the status of work progress in comparison to the plan. Third, Streamlined End-to-End Processing. The operational data is integrated with accounting to guarantee data consistency. Invoice creation based on the freight information of shipments. Isn’t that easy?
2. Global Business
- Multi-lingual / Multi-Currency
- Web-based Application
As many forwarding companies operate their overseas branches and offices worldwide, integrating global business is also required to Forwarding Information System. With this feature, it is possible to manage global accounting and operation.
- Simplify Rating Procedure
- Document Automation
These automation features will improve company’s business efficiency and minimize damage caused by human errors. First, has among these features, Auto-Rating is necessary to systemically manage customers’ and partners’ contract information. It can perform precise and quick ratings at the time of shipment registration. Second, Document Automation. This solution extracts information from documents received via fax or e-mail such as Arrival Notice by analyzing it automatically. It also automates the process of receiving documents and entering information into the system. Third, Document Management. It helps converting documents received Fax or e-mail to PDF format. Archiving the original and converted files in the system is not so different.
- Various EDI Portal and Partners
- Customs EDI
Collaboration is important because this can reduce considerable resources in cooperating diverse trading partners around the world. Global logistics companies are making decision on how many EDI formats FIS provides and how many Customs EDI it covers.