As traditional offline and paper processes fail to keep up with demands for speed and visibility, some freight and logistics companies have incorporated new high-tech solutions to streamline operations. But many have also been hesitant.
With changes accelerating and investment pouring in, freight forwarders need to start digitizing now to remain competitive and thrive in the imminent digitized logistics environment.
Emerging technology leaves an uneven playing field
For decades, many freight forwarding companies did not feel the urgency to adopt new, emerging technology outside of their operating systems. Instead they held on to their current and proven processes, not wanting to risk the potential complications and downsides that can come with integrating new tech like losing the human touch to their services.
But the pressure to digitize is growing and seems to be coming from all sides.
I think there are a couple of really key forces driving digitization, said Julian Alvarez, CEO of logistics technology startup Logixboard. Over the last few years, theres been a lot of digital freight forwarding companies, or leading digital first forwarders, coming into the space who are raising a lot of venture capital and ultimately changing the end-user expectations of what working with a freight forwarding company should look and feel like.
Many traditional freight forwarders hold onto the belief that these digital-first forwarders are not able to execute, lacking the expertise and networks to back their sophisticated technology. Whether or not this belief is true, as one leading digital-first forwarder begins transitioning from their current CEO to former Amazon Head of Worldwide Consumer, Dave Clark, it would appear significant investments are being made into operational excellence in order to dispel this belief and quite possibly the competitive advantage currently held by traditional freight forwarders.
These investments in the industry, along with COVID-19 and supply chain disruptions, have all served to increase the demand from freight forwarder customers for more visibility and a better digital customer experience.
Those that have responded to these pressures to improve the customer experience appear to be benefiting from it. Those that have resisted are quickly becoming at risk of falling behind.
Finding even ground
Letting technology maximize productivity and combat operational inefficiencies will be a benefit for both freight forwarding teams and their customers.
According to Alvarez, technology should be viewed as a way to enhance the human touch and customer experience, not replace it.
The digitization of customer-facing applications is not going to be stopped, Alvarez said. If you look five to 10 years out, everyone is going to have to have a platform where they can service their customers online in a really seamless way. There are companies that believe in making that change now and there are others that believe they can wait. Ultimately, they will all have to make that change. Its just a matter of how much pressure theyll have to feel first.
He also added that lagging technology restricts growth. Many companies are not able to scale up because, without adding more people, older processes are not able to accommodate for additional clients.
Despite efforts to make the process as seamless as possible, leveling up your technology requires change and change can be challenging. A lot of care and attention needs to be placed on making the transition with minimal disruption to the business and a short time-to-value for the new tech. Partnering with companies like Logixboard that understand the best processes for change management is critical, Alvarez said.
Winning with technology
The freight forwarding companies that are behind in technology possess the expertise to remain competitive. All they need now are the proper tools.
While the foundations of good customer service stay the same, customer expectations and the way we deliver great service are constantly shifting, said Jason Fowler, president of Air and Sea, a transportation company that provides complete multimodal shipping and logistics solutions. Digitizing our customer experience is helping us evolve and enhance, and its also helping us get a foot in the door with more new business.
Logixboard offers a direct integration dashboard that puts everything freight forwarders need for their customers in one place, including tracking, visibility, invoicing, reporting and more. The company helps freight forwarders and customs brokers worldwide modernize and digitize their customer offering in order to level up and exceed growing expectations in the fast-paced market.
Logixboard integrates with customers existing technology, using the system that houses their data and complementing it with third-party data to deliver a customized, seamless and modern interface to customers.
Digitizing ensures that traditional freight forwarders are able to combine their existing expertise and networks with new technology to create a competitive advantage. Or, at least an even playing field to stand on.
Continue reading here:
The urgency of leveraging technology to compete - FreightWaves
- Report: Apple acquires French startup behind AI and computer vision technology - 9to5Mac - April 22nd, 2024 [April 22nd, 2024]
- CACI Awarded $1.3 Billion Task Order to Provide Communications and Information Technology Expertise to U.S. ... - Business Wire - April 22nd, 2024 [April 22nd, 2024]
- What is semi-automated offside technology and how does it work? - The Athletic - April 22nd, 2024 [April 22nd, 2024]
- Can technology save us from an ecological apocalypse? - interview - CyberNews.com - April 22nd, 2024 [April 22nd, 2024]
- Does LaLiga have goalline technology? What about other major leagues? - AS USA - April 22nd, 2024 [April 22nd, 2024]
- Driver Assistance Technologies: NHTSA Should Take Action to Enhance Consumer Understanding of Capabilities and ... - Government Accountability Office - March 31st, 2024 [March 31st, 2024]
- OpenAI reveals Voice Engine, but won't yet publicly release the risky AI voice-cloning technology - The Associated Press - March 31st, 2024 [March 31st, 2024]
- Nexalin Technology Full Year 2023 Earnings: US$0.63 loss per share (vs US$0.30 loss in FY 2022) - Yahoo Finance - March 31st, 2024 [March 31st, 2024]
- 'Battle for your brain': What the rise of brain-computer interface technology means for you - WBUR News - March 31st, 2024 [March 31st, 2024]
- Firsthand Technology Value Fund (NASDAQ:SVVC) Research Coverage Started at StockNews.com - Defense World - March 31st, 2024 [March 31st, 2024]
- Suzhou Anjie Technology Full Year 2023 Earnings: Misses Expectations - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Inside the shadowy global battle to tame the world's most dangerous technology - POLITICO Europe - March 31st, 2024 [March 31st, 2024]
- The Technological Pivot Of History: Power In The Age Of Exponential Innovation Analysis - Eurasia Review - March 31st, 2024 [March 31st, 2024]
- 'Women Behind the Wheel' explores the intersection of gender, culture and cars - NPR - March 31st, 2024 [March 31st, 2024]
- Shanghai Weihong Electronic Technology Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- A Look At The Fair Value Of Powertech Technology Inc. (TWSE:6239) - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Weaver Network Technology Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- New York City will introduce controversial AI gun detection technology amid subway crime crisis - SiliconANGLE News - March 31st, 2024 [March 31st, 2024]
- Earnings Not Telling The Story For Beijing CTJ Information Technology Co., Ltd. (SZSE:301153) - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Vontron Technology Full Year 2023 Earnings: EPS: CN0.35 (vs CN0.34 in FY 2022) - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Huawei Revenue Rises as Technology Giant Commits to Growth - Technology Magazine - March 31st, 2024 [March 31st, 2024]
- Shenzhen Fortune Trend technology Full Year 2023 Earnings: Beats Expectations - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- USPACE Technology Group Limited (HKG:1725) May Have Run Too Fast Too Soon With Recent 28% Price Plummet - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- NYC to test gun-detecting technology in subway system - SILive.com - March 31st, 2024 [March 31st, 2024]
- Cancer Treatment: 3D Printing and Scanning Technology - Surviving Mesothelioma - March 31st, 2024 [March 31st, 2024]
- Does Contel Technology (HKG:1912) Have A Healthy Balance Sheet? - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Oppo Find X7 series now supports 5G-Advanced technology with up to 10 Gbps downlink speed - The Indian Express - March 31st, 2024 [March 31st, 2024]
- DCPS receives nearly $20k in grants for technology program advancements - The Owensboro Times - March 31st, 2024 [March 31st, 2024]
- Hangzhou Electronic Soul Network Technology Full Year 2023 Earnings: Misses Expectations - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- International Business Digital Technology Full Year 2023 Earnings: CN0.07 loss per share (vs CN0.019 loss in FY ... - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Analysts Are More Bearish On Guangzhou Tinci Materials Technology Co., Ltd. (SZSE:002709) Than They Used To Be - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Daheng New Epoch Technology Full Year 2023 Earnings: EPS: CN0.11 (vs CN0.16 in FY 2022) - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Tesla offers U.S. customers a month's trial of its driver-assist technology - Reuters - March 31st, 2024 [March 31st, 2024]
- Slam Dunk Technology: How AI Is Revolutionizing The Game Of Basketball - Forbes - March 31st, 2024 [March 31st, 2024]
- China Environmental Technology and Bioenergy Holdings Full Year 2023 Earnings: CN0.03 loss per share (vs CN ... - Simply Wall St - March 31st, 2024 [March 31st, 2024]
- Vuma and Huawei team up to launch industry first 50G PON ... - Light Reading - July 15th, 2023 [July 15th, 2023]
- See What Kim Kardashian and Kylie Jenner Look Like With Aging ... - E! NEWS - July 15th, 2023 [July 15th, 2023]
- AFRL conducts swarm technology demonstration > ONE AFRL ... - afrl.af.mil - May 20th, 2023 [May 20th, 2023]
- Shell to use new AI technology in deep sea oil exploration - Reuters - May 20th, 2023 [May 20th, 2023]
- Former Google CEO says AI at 'center' of technology competition between US and China - Fox News - May 20th, 2023 [May 20th, 2023]
- Agriculture and technology combine to drive the industrys growth - Times of India - May 20th, 2023 [May 20th, 2023]
- Technology and the Skills Shortage - Financial Times - May 20th, 2023 [May 20th, 2023]
- New License Agreement Announced for Next-Generation Base ... - BioPharm International - May 20th, 2023 [May 20th, 2023]
- Orion Governance Licenses Technology from GE to Deliver Next Generation Data Governance Solution - Yahoo Finance - May 20th, 2023 [May 20th, 2023]
- World needs to be 'vigilant' as AI technology improves and ... - KTVZ - May 20th, 2023 [May 20th, 2023]
- After Losing Son, Ridgefield Mother Pushes For Technology to Prevent Hot Car Deaths - NBC Connecticut - May 20th, 2023 [May 20th, 2023]
- After last year's fan violence in Queretaro, has Fan ID technology ensured safety for Liga MX fans? - ESPN - ESPN - May 20th, 2023 [May 20th, 2023]
- Bleach: The Soul Reapers' Gigai Technology, Explained - CBR - Comic Book Resources - May 20th, 2023 [May 20th, 2023]
- Cogito Tech - Catalyzing Transformation in Global Healthcare ... - Business Standard - May 20th, 2023 [May 20th, 2023]
- Barriers to Use of Technology in Diabetes Management - Patient Care Online - May 20th, 2023 [May 20th, 2023]
- Blue technology startups presented at the inaugural Gulf Blue ... - The University of Southern Mississippi - May 20th, 2023 [May 20th, 2023]
- CureVac files expanded patent lawsuit against Pfizer/BioNTech over ... - Reuters - May 20th, 2023 [May 20th, 2023]
- Harrison Ford defends use of de-ageing technology in new Indiana Jones film: I know that that is my face - Yahoo News - May 20th, 2023 [May 20th, 2023]
- Sanwo-Olu: Nigeria needs technology to compete with likes of China - Guardian Nigeria - May 20th, 2023 [May 20th, 2023]
- Prejudice in technology, and the necessity of time: Books in brief - Nature.com - May 20th, 2023 [May 20th, 2023]
- New technology uses ordinary sunlight to disinfect drinking water ... - Stanford University News - May 20th, 2023 [May 20th, 2023]
- Incredible AI technology shows what UK cities will look like in 2050 - LADbible - May 20th, 2023 [May 20th, 2023]
- Your Firm and Your Tools - Top Technology Initiatives - CPAPracticeAdvisor.com - May 20th, 2023 [May 20th, 2023]
- Tom Hanks: I could appear in movies after death with AI technology - BBC - May 20th, 2023 [May 20th, 2023]
- Transform your career with Chief Technology Officer online course - Economic Times - May 20th, 2023 [May 20th, 2023]
- e-Learning Jamaica Technology in Education Conference Slated for ... - Government of Jamaica, Jamaica Information Service - May 20th, 2023 [May 20th, 2023]
- Andrew Maynard | What's a Luddite? From Industrial Revolution to ... - TribDem.com - May 20th, 2023 [May 20th, 2023]
- At Yale, Kaloyan Kolev used technology to create and to make ... - Yale News - May 20th, 2023 [May 20th, 2023]
- This technology could alter the entire planet. These groups want every nation to have a say. - MIT Technology Review - April 17th, 2023 [April 17th, 2023]
- The secret lives of snakes and how Georgia College uses technology to study them - 13WMAZ.com - April 8th, 2023 [April 8th, 2023]
- Technology Innovation Institute to host 2nd 'Additive Manufacturing the Future' seminar in Abu Dhabi - Devdiscourse - April 8th, 2023 [April 8th, 2023]
- Can Array Technologies Inc (ARRY) Stock Rise to the Top of Technology Sector Thursday? - InvestorsObserver - March 31st, 2023 [March 31st, 2023]
- Here's Why We Think Pfeiffer Vacuum Technology (ETR:PFV) Might Deserve Your Attention Today - Simply Wall St - February 18th, 2023 [February 18th, 2023]
- Will WM Technology Inc (MAPS) Stay at the Top of the Technology Sector? - InvestorsObserver - February 18th, 2023 [February 18th, 2023]
- Ways in which technology can enhance the abilities of law enforcement agents to assist the community - Times of India - February 7th, 2023 [February 7th, 2023]
- Meet The Titans: Google And OpenView (Microsoft) Faceoff On Chat Technology Innovation - Forbes - February 5th, 2023 [February 5th, 2023]
- MACOM Technology Solutions Holdings, Inc.'s (NASDAQ:MTSI) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong? - Simply Wall St - February 5th, 2023 [February 5th, 2023]
- WVU Dept. of Ophthalmology acquires state-of-the-art technology for simulation lab - WV News - February 5th, 2023 [February 5th, 2023]
- Executive Vice President of Technology & Operations Alok Sethi Just Sold A Bunch Of Shares In Franklin Resources, Inc. (NYSE:BEN) - Simply Wall St - February 5th, 2023 [February 5th, 2023]
- Is Now The Time To Put Amkor Technology (NASDAQ:AMKR) On Your Watchlist? - Simply Wall St - January 27th, 2023 [January 27th, 2023]
- There Are Reasons To Feel Uneasy About New Oriental Education & Technology Group's (NYSE:EDU) Returns On Capital - Simply Wall St - January 27th, 2023 [January 27th, 2023]
- Technology has set us on a path toward one of two dystopian scenariosbut its not too late to save democracy - Fortune - January 17th, 2023 [January 17th, 2023]
- IonQ Acquires Entangled Networks And Locks In Quantum Networking Technology Critical To Its Future Success - Forbes - January 10th, 2023 [January 10th, 2023]
- Industrialization 3.0 - How Technology, Wall Street, And The Government Can Help The US Win In A World Of Re-Industrialization - Forbes - January 10th, 2023 [January 10th, 2023]
- Connect with aspirational India through technology and work in interest of world: Anurag Thakur to NRIs - Economic Times - January 8th, 2023 [January 8th, 2023]