2017 looks to have an exciting focus on digitization. The spotlight is shining brightly on this subject as companies look to achieve the productivity and performance benefits that come from digital solutions.
When we look at freight rates, we know that the technology that allows industry partners to effectively work together in the cloud, in real-time to improve customer satisfaction and returns, is a path to success. The time is now for greater collaboration around rate management and distribution. Eliminating the notoriously cumbersome and laborious manual processes involved with freight rates is critical to boosting efficiency. Managing multitab contracts with thousands of port pairs is a daily exercise filled with complexity. It’s no wonder rates in general, and subsequent updates, have become a significant burden on the industry.
The technology that’s catching on strengthens and accelerates industry connectivity to improve business performance and efficiency. The magic comes from innovative solutions that tame rate complexity and volatility and enable immediate connectivity.
A single rate platform that makes global interconnectivity possible reduces rate friction and allows companies to rapidly conduct business and achieve time and cost savings. By simplifying the ocean freight rate process, everyone wins. Robust technology that drives automation where it didn’t exist before saves countless hours of a company’s best people’s time.
Interconnectivity to drive efficiency and deliver financial gains is now a priority. When ocean shipping parties come together to adopt a frictionless rate platform, real value is realized. That’s when the magic happens.