ERP SYSTEM: MOVING TRANSPORTATION AND LOGISTICS BUSINESSES FORWARD

The Transportation and Logistics Industries face unique challenges compared to other businesses due to the constant movement, multi-location, and fast-paced nature of the business. Transportation and Logistics Businesses also have several critical back-office business processes that can greatly impact overhead and operational costs.

Transportation and Logistics Businesses face challenges like struggling in monitoring the transportation lifecycle, fluctuating freight costs, freight movement monitoring, complex route planning and supply chain management.

Issues Faced by Businesses in Transportation and Logistics
Most companies face a myriad of issues and challenges due to the nature of the business. These issues contribute to the high overhead cost and decreased efficiency. One of the main challenges of the industry is cutting the transportation cost. The volatility of external factors like fuel cost, complex compliance requirements, and changes in the market trend makes it hard for businesses to forecast costs.

The next big challenge for Transportation and Logistics Businesses is route planning and load optimization. This is a crucial aspect of the business because it requires significant man-hours and increases overhead costs.

Another hurdle for the business is the enormous amount of information that needs to be processed by the companies on a daily basis. Collecting and analyzing the sheer volume of information can be extremely taxing to the staff and the repetitive but complex nature of the process makes it prone to human errors.

Complex ERP system for Transportation and Logistics
Complex ERP system allows businesses in the transportation and logistics industry to transform their business processes to quickly adapt to fluctuating demand and rapidly changing consumer trends. Businesses are also able to innovate and modernize their financials and other crucial businesses processes.

Advantages of building complex ERP system for Transportation and Logistics

Financial Management
Complex ERP system Financial Management is the world’s number one cloud-based finance management system available. ERP system provides comprehensive finance and accounting that gives businesses real-time full visibility of the company’s financials.

Integrated Budgeting and Forecasting
The fluctuating fuel prices and rapidly changing cost of the business make it hard to manually track and forecast budget but with Complex ERP system’s Integrated budgeting and forecasting, it allows businesses to plan ahead and adjust budgets and allocation according to forecasted data that improves financial stability, reduces, cost and improves efficiency. It allows businesses to improve their financial management through financial planning based on accurate real-time data.

Customer Relationship Management
Transportation and Logistics Company mostly transact with other business entities thus maintaining good relations with clients directly translates to more business in the future. Complex ERP system gives businesses complete real-time visibility to customers across multiple channels. This improves customer relationships and strengthens the customer lifetime value.

Revenue Management
ERP system allows businesses to report revenue with confidence and accuracy. ERP system automates a number of crucial business processes like automated generation and dispatching of invoices at recurring or custom intervals. Auto-renewal or set reminders of crucial contract renewals.

Inventory and Supply Chain
ERP system has integrated inventory and supply modules to help businesses track their assets and available inventory. In the Transportation and Logistics business, company assets are always on the move in several different locations carrying goods for several different clients on a number of routes. ERP allows businesses to track their assets and the assets of their customers through multiple locations in real time.

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Spend Management
The constant movement of company assets means that it is hard to monitor manually and individual assets especially during maintenance, part replacements, or upgrades. ERP Spend Management allows businesses to efficiently monitor, track and approve the procurement of goods and services. It also automates procurement for recurring needs that includes pre-negotiated terms, tier pricing, and prespecified delivery schedules.

Business Intelligence
ERP system has Real-time Business Intelligence. Businesses have access to the latest in reporting and analytics that give them instant, real-time visibility of all business and financial transactions. ERP allows businesses to generate accurate reports and dashboards that combine operation data, and financial data together with key performance indicators.

Global Business Management
ERP is scalable to the enterprise level. It allows big business entities to manage multiple subsidiaries, business units, and legal entities from several different locations in one unified cloud-based ERP system. This allows businesses to easily adapt

The Excelym Advantage
ERP for Transportation and Logistics has several core features targeted for the fast-paced industry. ERP allows business to track and monitor their asset and their customer’s asset from multiple different locations. ERP Solutions Provider Partners like Excelym help businesses in the Transportation and Logistics industries full leverage ERP’s capabilities to increase efficiency and reduce cost.