How SME forwarders can take advantage of the digital freight sales increase
Why should SME forwarders strive to benefit from the rise in digital freight sales? What are some of the main advantages of doing so? Come take a look at our article and find out!
Over the previous year, global air cargo carriers have increased their investments in the frontier of digital transactions in order to compensate for losses in passenger revenue. Air cargo experts in pricing, revenue management, and sales are looking to fundamentally transform their business approaches in order to better serve their clients while remaining agile and capturing much-needed revenue. Much of this transition is no longer just a nice-to-have; it is a requirement to remain competitive and win new customer deals.
Digital freight sales experienced a sharp uptick as a result of the COVID-19 pandemic since customer service representatives were not as available as before due to lockdowns and other restrictions. This forced most customers to utilize online services instead, with many realizing how easy and convenient it was during the process. In fact, according to a report by ReportLinker, over half of global freight sales will likely be made online within the next decade.
The main advantages of digital transactions, especially when compared to traditional methods, include instant quotes, more transparent pricing, rate and carrier comparison, more accurate tracking, easy documentation, and analytics. Thus, the current wave of digital adoption in the air cargo industry can be a great opportunity for SME forwarders to expand their business and modernize their systems.
Looking at digital marketplaces like Freightos, there are already several small and medium-sized enterprises (SMEs) outselling some of the top ten forwarders in the world. This is because, unlike bigger companies, they can use the right internal capabilities to digitize and scale.
Until a few years ago, a forwarding company would have had to make a significant investment to build their own internal system, whereas now they have access to platforms that can help them digitize customer service, pricing, or track and trace. Eytan Buchman, the Chief Marketing Officer at Freightos, points out that the ability to shift an organization has suddenly become a huge advantage, and SMEs can get into a new stage much faster than even a top 10 or 20 corporation.
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