Freight Brokers are said to be the real-life jugglers. It is because of the simple fact that they juggle with things like locating carriers, loading/unloading loads, tracking the shipments, and the list keeps going on!
So, if you are wondering whether freight brokerage is the perfect fit for your requirements in terms of the supply chain, but feel like you do not have the complete grasp on the insights of freight brokerage- We are here to guide you through.

Let’s start with the basics:

What Is Freight Software?

A freight broker is a person who tends to arrange a deal between the shipper and transportation company to execute the freight effectively. A Middle Man as we can call them- between your manufacturer as well as the transport that will deliver the product at the desired destination.

Now, the question is- how do they manage so much of load?
The Transport Management System (TMS) is the answer to all!

Many TMS software in the markets today are created to solve the purpose of carriers and deliverances. There are several choices available for a reliable Transport Management System, incorporated with various price points as well as features. The software is the web & cloud-based that allows you to access the information and software anywhere and at any point in the world.

Types of Freight Softwares:

• Axon FBS: This unique software has been a part of the industry since 1982. The company has over 16,000 users with around 54 million load execution. Axon Freight has also integrated in real-time, which means that information you enter anywhere automatically gets updated in terms of dispatch, billing, fuel management, fleet management & maintenance with a single entry system!
• Axon Freight offers a highly-intuitive user- interface, that allows you to track your orders on a live map. It is also integrated with efficient accounting tools that provide you with access to the financial records & statements, create invoices, tickets, purchase, or work orders.
• Features:
  • Truck Deliveries
  • Warehouse manage System
  • Effective Distribution System
  • Supply chain and risk Management

Website: https://www.axonsoftware.com/freight-broker-software/

• FreightWaves SONAR: It is a platform that has a complete yet reliable view of the moving freight economy. FreightWaves Sonar offers the users real-time insights with exclusive intelligence, along with the ability to analyze and monitor the global supply chain industry. Freight Brokers Software proudly covers all- form, trucking, rail, ocean, trucking spots, contact rates, fuels, volumes, weather, risk management, and much more.
• Features:
  • Cost Control
  • Trading Partnerships
  • Logistic
  • Communication and Networking
  • 3PL Services.

Website: https://www.freightwaves.com

• BOLT: One of the leading cloud-based fleet management systems. Bolt is specially designed for the internet and freight industry. It provides you with effective and cost-effective solutions.
• This software helps in logistic operations- from booking, operations to tracking and monitoring the deliverable in real-time. You can also evaluate the daily activities of your business. Bolt also helps in managing the data as well as finance generated through the consignments.
• Features:
  • Freight Forwarding Services
  • Cloud-based Platform
  • Online Tracking System
  • Data Warehousing

Website: https://www.boltsystem.com

• Logistiqo: This platform allows you to take control of all your freight shipments. From quoting through various carriers to booking consignments, tracking, analyzing supply chain- everything in just a few clicks. Logistiqo is a modern and powerful Freight Forwarding Software as a service (SAAS) based platform which is designed to establish complete transparency and control over your supply chain.
• You can easily access multiple carriers using a single platform to make sure that your freight shipments are well-optimized in real-time for every job. Also, it is easy to optimize the same in terms of price, time, and service level for a perfect delivery execution.
• Features:
  • Transportation and 3PL Management System
  • Fleet Management
  • Logistic
  • Data warehousing

Website: https://logistiqo.com

• Fresa-Gold: Fresa is a completely web-based ERP software, integrated with freight forwarding and shipping services. The software is designed for the NVOCC, IATA, Cargo agents, and other logistic service providers. The main objective of Freight Forwarder Software is to allow the transport companies to organize and manage their business with 2-interface options using one platform.
• The highly-interactive modules tend to capture the information from quotations, shipments, and status updates via mail to several internal as well as external stakeholders involved. The software also helps to generate the shipping and financial statements with MIS capabilities highlighting real-time visibility.
• Features:
  • Cargo Shipments
  • Trading Partnerships
  • Document management
  • Communication and Networking
  • Shipping and Forwarding

Website: https://fresatechnologies.com
Last Words:

With a competitive view of the market, businesses must ensure that their services along with products are easily available to the customers. However, supply chain management is a complex system as it involves several sub-process. Therefore, it is crucial for you to use a complex yet friendly software system. Ask for the trials as it will allow you to have a rough idea of how the software works before finalizing one.

Access From Anywhere in the World

The web-based dispatch software is the most innovative application that allows you to handle your trucking firm on the web. All you require is a computer and internet connectivity. There are many reasons to pick a web-based dispatch program. Once you get a web-based software for your company, there will be no need for any other program. You can gain access to your account from any place with internet availability. This application also empowers the owner to produce different kinds of records and reports too. Another main function of this software is getting intelligent loading quotes directly.

With the use of this web-based dispatch program, you will be able to reserve the loads immediately. This software makes the delivery of invoices to your patrons a hassle-free process. Most of these web-based programs are hugely accessible with any pc and gadget. It provides you more options to choose from this occupied marketplace. The web-based dispatch program provides you more dependability and conformity traits. The trucking dispatch system also lets you publish your post at different truck stops. Affordability is another principal trait you will get together with a web-based dispatch application. It also provides you with D.O.T tracking and M.C. numbering as well.

Let us make our future now, and let us make our dreams tomorrow’s reality. — Malala Yousafzai

With the capacity to supply precise data, it is probable to print trustworthy records. It also enables you to post heaps on the internet. It lets you publish straight without using your authorized email id. The program offers you reliable bookkeeping features as well. The application is equipped with characteristics and accessories that let you produce reports. It also can help you in earnings files, debts, and many more. This program also lets you generate various investment plans, track the sales tax, and other operational records. The internet-based dispatch software is also skilled in creating the monthly bills, supply control of different purchases.

Improved Oversight

The web-based dispatch program also lets you control the work- stress quite proficient. There will be no need to place the programs because you can intend computerized notifications regularly. Most of the web-based dispatch applications provide you with swift outcomes on free weight boards. This on-line dispatch software offers you aid to find distinct trending blog posts too. Another reason for picking a web-based dispatch application is that you can concentrate on your companies as opposed to putting things off on searching.

Scalability and Flexibility

In this current age, technological advancement is a blessing for virtually every company around the globe. Besides, there’s been massive variations in the truck business also. Most of the trucking companies are now changing a dispatch program since it’s highly accessible in nature. This software assists the truck companies in time management as well. The dispatch application enables the companies while conserving their precious time that was wasted due to hand-operated operations. The Ifta fuel tax reporting with dispatch software aids in diminishing the limitations of tiresome hand-operated work. To indicate the reputation in this groundbreaking marketplace, every trucking company needs this dispatch software. 

The transportation company that doesn’t need to get with these new applications will soon be dragged out of the ground-breaking marketplace. If you need to make your trucking business a success, a dispatch application will be the best option. You can manage all your company’s work from anywhere as long as you’ve got wireless accessibility. You must pick a dispatch application for multiple factors. Once you get a dispatch application for your company, there will be no requirement for any other program. it is easy to access it from anywhere as per your ease. A dispatch application also assists the truck businesses in maintaining various ledger sheets also. 

GPS Tracking & Mapping

You can easily monitor every single motion of your driver and the shipment as well. With the assistance of this productive application, the user can also learn several quotes readily. You can concentrate more on your fleet as opposed to putting things off on other things. Additionally, it allows the owner to observe the live locations of both trucks and freight with GPS program. The dispatch program is quite user-friendly and can be used in any type of device. You can easily find a dispatch program from this busy market. The dispatch application provides you more dependability and conformity features. 

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The dispatch program is also loaded with an exceptional attribute of loading the trucking-related quotations automatically. It also enables the user to pre-book multiple estimates through one channel. The dispatch software also helps the trucking business when sending invoices to the prospects. This software has eased down each dispatch related process. The dispatch tracking software is also competent enough in holding you updated. There are various types of dispatch software accessible in the market that offers quick results on several online truck stops. It also lets you deliver bills to your customers at any time. 

It will offer the user better outcomes. The truck staff is going to have the advantage of loading the vehicle quotes quickly to various web-based truck stops. you don’t even need any email ID for submitting these quotes. The dispatch application also enables the consumer in book-keeping too. You can also generate a number of reports through this innovative application. This software is an aid to the user for bills and other private files too. Apart from all these features the dispatch software also helps the transportation companies in budget preparation and other revenue tax-related activities.

Here are the six simple tips that will help you to handle truck bookkeeping more correctly:

Utilizing the Right Accounting Software System: 

Many businesses use either accretion or cash-based software solutions or systems. So, with the cash software, you can keep track of your income, money receivable, expenses, and outstanding bills easily. This is generally considered to be the best trucking bookkeeping solution for truck drivers.

Save the Travel Log:

Remember, your electronic log record is really helpful in terms of managing your expenses. So, in case you solely rely on your electronic device to save the logs, just make sure that you can save and easily access the log history at any point in time you want.

“In the corporate world, sometimes things aren’t exactly black and white when it comes to accounting procedures. Take advantage of modern tools to fulfill your needs.”  –  ACollision

Try to Maintain the Daily Records:

This is quite important when talking about the most accurate picture of your business in terms of profit or loss. Once you are done setting up your system, keeping everything in place (records!) will not take much of your time daily.

Using a different Debit/Credit Card:

Look for the debit or credit cards with a low rate of interest and the one that does not have any annual charges- A generous plan, isn’t it? Try to pay the entire balance in a single shot every month, as anybody would hate racking up that additional debt. Here, having a credit card to manage your business-related expenses is the best way to bookkeeping. A transport accounting program can categorize the expenses in various categories such as maintenance, gas, fuel, meal, and more.

Handling the Checks with Utmost Care:

This is quite an essential step to go for, simply because the business checks can be easily used as cash. This may invite situations like fraudulent or misuse of the same. Just make sure that you sign a check in the most legible way to discourage the situations as mentioned above. Also, keep reviewing your checks from your bank- even the canceled ones to ensure that your business partners are worth working for. 

Maintain an Audit-Proof Separately:

This can be applied to both IRS and the state fuel tax-related audit issues. Try maintaining different checking accounts for your office as well as personal expenses. Save the receipts carefully, especially when it comes to business-related transactions. In fact, we would suggest keeping digital copies of every receipt either by scanning them or by clicking pictures of the same using a Smartphone or PC accordingly. This is the best to keep track of every expense of your business accurately- as you will have all the ducks in a single row!

Conclusion

Try to use the right trucking bookkeeping for your truck drivers- keeping the tips mentioned above in mind. This is simply because it is the most vital part of a successful trucking business. It saves your money and time both and this is why trucking bookkeeping software is so much in demand these days. You can compare the truck accounting software from different companies available online and settle down onto one that suits the best for your business. Make sure the software you wish to work with offers reliable features and serves general-purpose or tasks efficiently. The right software can make all the difference, especially when we talk about your trucking business and its success!

As a freight shipper, you have to deal with many problems such as shipping your cargo, importing, exporting, and improving your warehouse functions. This is the reason why businesses need to have a proper record of all the transactions. Advanced long haul system software helps to create transparency in business and prevents mistakes. Most mistakes occur due to a lack of communication between the worker, manager, drivers, and the owners. To succeed, you must maintain good communication with your employees and ensure a healthy working relationship.

Walt Disney: “All our dreams can come true, if we have the courage to pursue them.”

Common Inefficiencies in Logistics Network:

1. Checking inefficient routes for business: Sometimes, you have to change your shipments and deliveries. You cannot predict the exact time of a journey. Many factors affect your shipments, like vehicles used, traffic, weather conditions, and driver efficiency. If by chance, your shipments get delayed, you are prepared to deal with such scenarios. Many times the shipments arrive at ports on time, but the carriers arrive late. This slows the whole delivery process and causes loss in business. If your company is armed with future insights, you can avoid such problems. Fleet companies should know all about the routes, roads, and canals that they have to pass while sending the shipments. They should establish good communication with the carriers to reach delivery stations on time and not cause any shipping process problems.

2. Waiting at the ports unnecessarily: Another factor that causes logistics inefficiencies is the wastage of time at the docks. Sometimes, companies have to wait for several days at the ports to get their shipments. Shipments can remain stuck for many days, weeks, and even months. This creates uncertainty in business and causes unnecessary delays in deliveries. Shippers spend more time on shipments than they should and have to cancel their other deliveries or remain idle for a large amount of time. This is why fleet businesses should opt for freight management system to clarify the shipping process and get future insights. This is also why many fleet companies hire freight brokers who help them to manage their shipments. A freight broker allows you to deal with any last-minute changes or emergencies in your deliveries. This reduces the hassle of doing paperwork and provides timely reminders to the company.

3. Compared with shipping security: The delays in cargo shipments leave a place for security breaches. Shippers’ most common mistake is that they do not consider their cargo’s safety. This leaves room for many security loopholes. Sometimes, the shipment gets stolen or damaged. It causes huge losses to business and can damage your company’s reputation. Sometimes, the goods get damaged due to humidity or extreme temperatures. This is harmful to perishable goods like medicines, seafood, meat, and fruits. You need to manage your goods carefully, or you will lose out on new customers and potential clients. Fleet companies can use various software or take the help of brokers to solve their problems. Some software helps you track your shipments and provide alerts on security in case this happens regularly.

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The best way to deal with such situations is by collecting data. Many softwares are available in the market; fleet companies can select the ones which suit their needs and budget. It helps you evaluate your fleet’s performance and lets you know where your company is lagging. This software for trucking business contains the latest technology, tools, and sensors which save all the delivery records in a freight company’s database. The owners can take appropriate measures from time to time. It helps you to cover your loopholes and know about all risks. This enables you to have better communication with the shippers and drivers and ensure your cargo’s safety. Taking the help of technology in business is very important; it saves your time and makes your job easier.

The data provided by this software helps freight companies to make essential business decisions and change their working strategies. These softwares are user-friendly and provide timely updates to the owners about the shippers and carriers’ activities. The best thing about this software is that many people can work on them at the same time. All freight workers like drivers, managers, shippers can operate it without any prior training. As they are web-based, all the data about the shipments, deliveries, and business consignments get stored in a company’s databases. You can check and update this from time to time; it maintains clarity in business and sends qualified people to job sites.

1.  Charges Including Internet and Cell Phone

Smartphones and the internet are the two basic requirements that are needed by every individual. In fact, for truckers, these two are extremely vital. Other than this, when a driver drives, he certainly does not spend a lot of time on his cell phone and on the internet too. This is a fact that taxation authorities also agree with. As a driver uses his mobile phone for personal as well as professional use, he can deduct 50% of the costs that revolve around the mobile phone and the internet. In addition to this, if a driver buys a new cell phone or a laptop, then the amount can be fully deducted as communication costs also add up to the taxes.

2.  Medical Evaluation

Medical checkups can also be deducted out of the amount of taxation. For instance, if a driver visits a doctor for a check-up or even if an employer requires a medical document that involves a health evaluation, then the amount can be easily deducted. Although medical expenses do not come under the category of deductible expenses, in this specific case, these come under the category of business expenses. As health is the primary concern of every individual, especially the drivers, the tax authorities have categorized the expenses under the business head and not the personal head.

3.  Authorizing Charges

Authorizing charges or more commonly termed licensing charges are also deductible in nature. When a driver pays any amount to the authorities in order to get a license, the amount is completely deductible in nature and can be claimed back by the driver. While, on the other hand, if the employer also requests this thing, then also the whole amount can be claimed. In addition to this, during the training part, the amount is also regarded as the deductible expense and thus an individual can easily learn truck driving.

4.  Food

Truckers and truck drivers usually have to spend long hours away from home. In that situation, a driver is allowed to deduct a certain amount that he spends on food during the course of working. The taxation authorities are of the view that food is the basic necessity and thus a certain amount must be made deductible in nature. While this is not true in the case of local drivers as they can eat their food at home.

Video Credit – Driver Solutions

5.  Maintenance

Amounts that a driver spends for repairing or maintaining a truck that has not been repaid to him are of deductible nature and can be claimed later on. Irrespective of the position, i.e, it does not matter that if you are an owner-operator or a private driver, maintenance and repair costs are totally claimable. Although it does not include the labor cost in case you repair the truck yourself.

6.  Union Dues

Drivers are mostly part of associations or unions. When a driver pays an amount to join these union groups, the amount is deductible and claimable. An individual can also deduct the cost if he simply joins the group but is not mandatory in nature. By offering proof that the membership actually boosts your career a driver can easily deduct the cost.

7.  Individual Products

Individual products or items are the ones that are needed on the road while traveling or driving from one place to another. For instance flashlights, special clothes, equipment, and much more. One must keep a track of these items as later on they can be deducted.

8.  Traveling Cost

When a driver owns his own truck then he can record the exact miles he traveled or drove from one place to another. The cost spent during these miles can be deducted as per the taxation authorities. While on the other hand when the expenses reach certain limits and the company does not repay you, then, in that case, they can claim the deduction.

9.  Usual Deductions

There are certain casual and standard deductions that are not related to work but still, a driver can claim them. For instance, child tax credit, dependent care, and many other things.

Conclusion

Therefore, a driver has various options from which he can claim deductions. For this purpose, he must have complete knowledge and understanding about these things.

Predictive Analytics

Predictive analytics will have a huge role in the transportation industry. To understand the role of predictive analytics let’s first understand what predictive analytics is. Most of the time people misunderstood the meaning of predictive analytics and expected it to provide them with accurate insights into the future. Predictive analytics depends on the existing data and recognizes the patterns to be ready for the future events.

 You can see predictive analytics working in your daily life. If you order something from an ecommerce platform or just click on it, then they will show you the related items in the recommended section based on your search. This technology is a part of our daily life and now we will use it in the transportation industry. 

Benefits of Predictive Analytics to the Transportation Industry

Predictive analytics provide operational insights to the transportation companies by going through the data and predicting the problems ahead of time. This will be very beneficial to the transportation companies.

Latest Fleet Telematics

Latest fleet telematics or other transportation management technologies are utilizing the data of repair, spare parts, engines to track the health of the trucks. This way they can track the bad or worn out spare parts of the truck ahead of potential breakdown. This can be utilized more effectively if we let the machine learn and analyze the huge amount of data. It will save us a massive amount of office staff’s valuable time. 

This will help the transportation companies effectively utilizing preventive maintenance and save us a good amount of downtime.

Increases Driver Retention Rate

Drivers are key to a successful transportation company. By improving the drivers experience, you can retain your old drivers as well as attract better drivers to your company. Predictive analytics provide you with detailed information about the drivers at risk and help the staff to retain them on time.  End result of this will be satisfied drivers and an efficient fleet.

By going through the truck’s operational data, predictive analytics can predict the driver’s turnover risk and help the transportation companies to get rid of the friction points while making sure your skilled drivers are satisfied and retained.

Fleet Safety 

Safer fleet is the prime objective in the transportation industry. Latest video intelligence technologies are ensuring safe driving behaviors and highlighting the risks. The video recording technology provides a clear picture of the road conditions and the driving habits of the driver to both the driver and the personnel at the back office. They can both work on it together to improve it further. 

Predictive analytics uses artificial intelligence to automatically determine the risks and help the back office to work simultaneously with the drivers to eliminate any areas of concern.

Better Route Management

Advance fleet management program provides the best possible route to your driver while completing a delivery. These trucking softwares also inform them in real time traffic issues on their way and in case of an accident or traffic jam, they can easily reroute them to another quicker route.

Predictive analytics take it a little further by examining the whole data of many trips and offer the personalised inputs about the best possible route depending on the timing of the year, month, week and day of the week.

Provide Real Time Insights and Enhance Customer Experience

Predictive analytics processed the huge amount of data involved in the day to day business of the transportation companies. By going through this data it offers clear business insights to the transportation companies about their business. Transportation companies can utilize this knowledge and implement it to improve the overall business practice.

Predictive analytics also help transportation companies enhance customer satisfaction considerably. By going through the ordering data of the customers and their preferences, predictive analytics can offer suggestions to help improve the customer satisfaction.

Video Credit – Rogo Moto

The Future of Predictive Analytics in the Transportation Industry

Predictive analytics is quickly becoming a key factor in the transportation industry. Transportation companies must adopt predictive analytics to boost their predictive capabilities. 

With the evolution of predictive analytics and machine learning, the transportation industry is further utilizing it to take the advantage of the latest technology. There is a tremendous amount of data needed to be properly processed and interpreted for future usage and predictive analytics offers just that, therefore has a huge potential. Predictive analytics offers more than fleet safety, driver retention and maintenance of the fleet. Properly using artificial intelligence and machine learning can unlock the untold potential of predictive analytics.