Like so many industries nowadays, the freight industry is being transformed by technological advancements. Yes, the T-word! We know it instantly triggers feelings of overwhelm; just the thought of learning something new, and then devising strategies to adapt your freight business accordingly. Yet, all past, present and future technological innovations share two goals: to make freight shipping more efficient and less expensive. In the world of freight technology, the concept of autonomous trucks gets the lion’s share of the press, but it is still years away from being a major factor in the industry. Meanwhile, other technologies are currently in development, being tested or already in use today. Speaking of which, a recent industry-disruptor that you have probably heard about, and will certainly be hearing more about in the upcoming years is a digital freight marketplace.

What is a digital freight marketplace?

A freight marketplace is an online marketplace solution that directly connects buyers and sellers. More specifically, it connects clients in need of shipping their cargoes with freight forwarders and carriers willing to fulfill these needs. It’s like a dating app version for the shipping world, but just without the hassle of sifting through weirdos and wasting time on dates. It is also noteworthy to point out that an online shipping marketplace isn’t limited to a freight forwarder or carrier’s clientele, for it helps introduce freight forwarders and carriers to new clients from outside their current network.

How does an online shipping marketplace work?

Imagine being able to input all your shipment details once. Then, being able to easily compare all available forwarders, carriers, their rates, book and pay for one. Not to mention, managing important documents, paperwork and tracking your shipment. It also functions in a similar manner for freight forwarders and carriers. Sounds like the perfect scenario, right? Well, it isn’t a far-fetched vision in today’s freight industry. In fact, this is how a digital freight marketplace works, specifically FreightXplorer.

How does a freight marketplace work?
Mechanism of Logisoft Marketplace

Why do freight forwarders, carriers and clients need a digital freight marketplace?

Benefits are a two-way street when it comes to online shipping marketplaces.

1- Quick & Transparent Quotes

“No hidden fees” should be your motto.

Freight quotation requests, especially ocean freight, are notoriously tedious, for they require back and forth emails, and a longer period of time to get a verified quote.
In comparison, a digital freight marketplace provides price options in a matter of minutes, if not seconds. All a client has to do is to enter his/her cargo details, route, pick-up and delivery dates, and other additional services. Then, carriers and freight forwarders will begin their bids.

2- Streamlined Communication

In a freight marketplace, clients have the ability to directly contact the freight forwarder or carrier and vice versa. This gives you the peace of mind in knowing exactly who is hauling your cargo across the country and how. No more jumping through hoops to get updates and answers to your questions; you just go right to the source! Additionally, having a direct line of communication is key to building long-lasting partnerships with freight forwarders and carriers that understand your needs.

3- Exceptional Shipping services at Lower Rates

Joining an online freight marketplace built on transparency, leaves 0 room for hesitancy. In other words, several freight forwarders and carriers would be bidding and competing over your request which ultimately gives you a myriad of options to choose the most suitable offer based on what you see fit.

4- New Communication Methods

A digital freight marketplace enhanced with an omni-channel system is a game changer. Just imagine the benefits you’ll gain from a consolidated platform that is a hub to every necessary information from carriers, freight forwarders, clients, bookings, shipment documents, rates, payment system, tracking system and even a messaging system.

5- No more Bargaining

Negotiations are a thing of the past in a digital freight marketplace. With a number of shipment requests, and different offers, phones won’t be bombarded with calls, and inboxes won’t be flooded. Simply, if a client doesn’t like the offer, he/she won’t go through with it as there are other offers to choose from. Similarly, if a shipment request doesn’t appeal to a freight forwarder or carrier, or if an offer doesn’t get the green light, there’s always other requests. It’s always a win-win situation.

6- Electronic Documents & Less Paperwork

With almost everything being automated, from cargo details, payments, documents to contracts, no one will be swamped with papers.

7- More Control

End-to-end shipments tracking provides recent milestone updates and future estimations which ultimately increases security, visibility and control over the operation.

8- Accountability and Credibility

A rating and evaluation system is in place to ensure accountability and credibility for users (i.e. freight forwarders, carriers and clients) using the platform to conduct business. Ratings are provided by freight forwarders, carriers and clients who rate one another after the end of each shipping operation.

Bottom Line

Technological advancements are shaping a new perspective for the logistics industry; one that, at its core, is about making it more efficient and less complicated for shippers, carriers, and forwarders.

Here’s the thing, FreightXplorer is here to effectively automate, optimize and centralize freight deals while maximizing productivity and visibility. The more freight forwarders, carriers and clients we have working together in our ecosystem, the more enhanced the efficiency of the entire network is which ultimately brings value to all participants. That’s how clients pay less, and freight forwarders and carriers make more.

Experience the power of a seamless shipping operation by signing up to FreightXplorer Early Access List here

Logisoft freight Marketplace Early Access List - 3 months free of charges