What can go wrong in issuing a freight quote to a client? Well, there are many things; if you talk to experienced freight forwarders working with Excel sheets, they will mention the difficulties of getting all prices from all sources immediately or the possibility of getting lost in the small additional costs, to name just two problems.
With the transition to working with digital freight platforms, such challenges and other day-to-day tasks are easing the way forwarders issue quotes. Such platforms include a rate management system (RMS), which makes gathering all the rate information data points faster and quote issuance more timely and efficient.
Here’s a checklist of what forwarders can look for when choosing a rate management system.
Automated pricing data and quote issuance
Issuing door-to-door quotes through a digital rate management system should be quick and require only one search. Upon entering the desired route into the system, all price options should immediately appear from highest to lowest.
Live price data changes should also appear so that quoting is more accurate, including all charges and tariffs on all legs of every route.
A sound rate management system should also cover as many carriers and suppliers as possible so the forwarder can quote the best route-price option.
Enhanced data management
It’s all about managing all freight data points that make up each quote. A digital rate management system must include reliable and up-to-date data from all sources.
A sound rate management system should provide forwarders with other data management capabilities besides quote issuance. Such capabilities include analysis and reporting options for both the forwarder and the client, enabling them to dissect previous quotes and prices better to understand their current and future situation.
The forwarder must also be able to assess its quotes’ win-lose rates and analyze the buy/sell freight market rate trends.
The system’s data management should also adhere to privacy matters, including permission guidelines across the organization limiting users’ ability to operate the system.
Ease of use
A digital rate management system should give the forwarder easy access to all features and enable the quick and organized issuance of quotes. The data points should be transparent, easy to gather and manage, and structured according to industry standards. In places of exceptions, special filters must allow the forwarder to present all options.
The system must be flexible enough to reflect changes in the quotes’ structure or accommodate changes in the logistics operation standards. It must also be flexible enough to allow for large volumes of quotes and transactions.
With its rate management system, Wisor AI's digital freight system has much to offer forwarders!
Freight forwarders seeking to purchase a digital freight platform with a rate management system can check Wisor AI!
Our digital platform allows forwarders to issue quotes in seconds and with a single search, serving their clients more effectively, accurately, and quickly.
Wisor AI features rate sheets from all central air, sea, and land carriers and enables forwarders to freight their data, making issuing quotes to clients faster and easier.
Book a demo with us, and we’ll show you how our platform can assist you! Visit us here: https://wisor.ai