Value-adding Features of a Great Freight Rating System Within a TMS
Freight rating software is a necessity for shippers and 3PLs. There is more at stake in the choice of a freight rating system. One that is integrated with TMS offers more value for customers and better leverage when negotiating contracts with additional features providing the latest data. When shopping for a Freight Rating Software System with TMS, look for key points that will add value and provide additional benefits for shippers.
The Basic Functionality of a Freight Rating System
The fundamentals of a Freight Rating System match a user’s shipping and freight characteristics and a carrier’s service and price options. Shippers and 3PLs can select the best rates from a range of carriers to meet their needs. The tools optimize the headhaul and backhaul components of a shipper’s network and deliver analytics used by shippers during negotiations with carriers.
Useful Features in a Freight Rating System
There are some fundamental steps to take in finding the right system for a particular shipper’s needs. These elements go beyond price and should be taken into consideration as to how they can provide additional benefits to a shipper.
- Determine the software’s objective. Is the end-goal to select carriers or to find the lowest freight charges?
- Find out how pricing is made available to shippers. Is the pricing done through a licensing agreement or by a “software as a service” offering?
- Make sure that the data is reliable and as real-time as feasible.
- Be satisfied that the system meets a company’s requirements across all types of freight.
- Investigate how frequently the vendor updates information and the level of shipper involvement in maintenance.
- Gain clarity on how well the software interfaces with leading enterprise resource planning (ERP) systems. Platforms need to communicate smoothly with transactions and feed into all supply chain and logistics systems.
- Select a freight rate system that is compatible with the existing platform and technology of a business.
A great freight rating system should be web-based and offer additional value to shippers. The software can offer freight invoice auditing, creation of Bill of Lading, storage and maintenance of negotiated freight rates, storage of supportive documentation, and analytics to enable shippers to continually improve on their processes.
Go with TMS Integration
Transportation Management Software Systems (TMS) reduces overall hard and soft costs of transportation. It collects data such as rates and vendor options in a clear, simplified, and prioritized format to aid in the decision making process. TMS is used by companies to strategize, plan, and execute shipments. Many companies are beginning to realize their potential but are failing to implement a TMS system. Only 35 percent of shippers use TMS to manage operations, according to the Logistics Management’s 2014 Technology Usage Study. Those who do have a TMS often use older versions without the latest value-adding enhancements. Use their oversight to your benefit and gain a competitive advantage. Enhance an existing transportation management system and learn what TMS can do for an organization:
- Meet the specific needs of an organization through standard technology that supports custom business logic. Not all TMS systems can handle the logistical needs of such companies. Businesses who are growing quickly and need to focus on scale demand more from a freight management system with TMS. The Cerasis Rater TMS supports LTL freight shipping and handles inbound, reverse logistics, and traditional transportation modes quickly and efficiently.
- Increase functionality with TMS integration that is customized to the delivery objectives of a vertical market, such as automotive aftermarket.
- Make fast cost-conscious decisions when dealing with a variety of modes of shipping. TMS can provide supportive real-time data.
- Assess performance with a logistics key performance indicator (KPI) reporting function that removes the guesswork.
- All users can have freight visibility and view the goods at key points along the way. This encompasses various delivery points, customs clearance, invoicing and booking.
A Modern Freight Rating System Gives a Competitive Advantage
A freight rating system with TMS are now feasible for small and medium-sized businesses. Costs have decreased and smaller players can use the optimized features of this system to outdo some of the larger companies that are using outdated configurations or are not attempting integration of the system at all within their transportation management strategy. Today’s systems can offer more value, less cost and a simplified solution that integrates with existing processes and enhances communication and negotiations. It is time to take the next step in the growth and development of the shipping process.
The Cerasis Rater, our TMS, streamlines and simplifies the freight rating system with TMS. Cerasis offers a rating engine for LTL and offers support for both small parcels and full truckloads. The Cerasis Rater eliminates the manual process. Shipments can be processed anytime through a web-based portal. Choices of carriers use the latest rates and can be based on multiple factors. Even print out quotes, invoices, and labels from the same system. Optimize the capabilities of a freight rating system that offers businesses more, with less lag time and with enhanced transparency with Cerasis. If you would like a demo of our TMS, the Ceras Rater, fill out a request here to get set up.