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Freight forwarders and brokers around the globe are customizing their methods, processes, and technology adoption to survive in the new normal.
FREMONT, CA: Businesses must automate operational and customer-facing operations to boost top and bottom-line performance to maintain their competitive edge in 2022. Pressures on the global supply chain have increased over the past two years, pushing freight forwarders and brokers to their limits and requiring them to alter and improve their strategies, tactics, and use of technology to survive. These pressures range from the e-commerce boom, worker shortages, and geopolitical conflict to the pricing squeeze, carrier capacity crunch, and rising customer expectations of a digital experience with more data.
Changing industrial environment
Pricing pressure continued to be the biggest industry problem. Forwarders and brokers must continue to modify their systems, technology, and tools to handle growing cargo volumes and take their share of the burgeoning B2B and B2C e-commerce sectors. The move toward digitization and customer self-service was regarded as the second and fourth major concerns, respectively, and expected to have the greatest influence on the industry over the years. B2B and B2C e-commerce clients frequently use real-time shipment tracking and automated business processes.
Forwarders and brokers increasingly rely on technology investments, which are essential to their growth plans. Businesses can generate growth despite market changes and disruptions by automating and expediting forwarding and brokerage procedures. E-commerce sales are still high despite a return to in-person shopping as the pandemic fades. Despite the difficulties facing forwarders and brokers, investments in technology are easing the way for business expansion by assisting organizations to run more profitably, compete more successfully, and build long-lasting connections with clients.
The scales tipped by technology
Forwarders and brokers worldwide are responding swiftly and effectively to the needs of their customers without sacrificing margins, thanks to the adoption of digital solutions to generate operational and cost efficiency. Businesses may stand out in the market by automating operations and utilizing digital solutions. Similar to how many forwarders and brokers provide value-added trade services, such as duty analysis rejected party screening, these services frequently demand an automated response. Forward-thinking companies are digitally modernizing internal and agent processes to optimize customer relationship management, accounting, and the lifecycle management of multimodal shipments.