Optical Character Recognition is the electronic conversion of printed or handwritten documents into an editable text format. The logistics space has so many different kinds of documents, passing from one department to the next that human error in data entry is statistically inevitable. Even the smallest errors can lead to unforeseen costs such as long hours of corrective measures, damage control as well as penalties and fines. Many modern OCR capabilities include machine learning so the performance continuously improves as information is fed to it. Ultimately, OCR enables all your printed documents to be captured and entered into formats acceptable to your organization, partners, clients and local authorities, thereby saving your teams many hours’ worth of time, alleviating costs that should be redundant in today’s day and age.
Make use of OCR technology to create flawless documentation sharing and collaboration, with minimal to zero errors, days’ worth of time saved per annum and a team that can centre their efforts and growth around their respective jobs.
Example of what OCR can do: You Can Save Approx. 2 Minutes Per Invoice. A 1000 invoices a month saves you 33 Hours of Your Workforce’s time. Add time saved on correcting errors and you save approximately 40 hours per 1000 invoices.
Here technology providers with OCR technology solutions for freight forwarders:
- HubTran – https://www.hubtran.com/
- Marine Digital – https://marine-digital.com/ocr
- Soft Freight Logic – https://softfreightlogic.com/softwareSolutions.html#softwareSub2
As described by AIIM, Robotic process automation (RPA) is the term used for software tools that partially or fully automate human activities that are manual, rule-based, and repetitive. RPA can be a simple configuration of a data-entry process otherwise performed by a human, and may seem like a small addition to your business’s operations. However, if every repetitive process can be done by a bot instead of your workforce, there is a significant amount of time saved, costs reduced and efficiency increased. A bot can perform the same data entry task such as rating, costing, internal quote updates, tariff updates etc:
- The same tasks now take 1/3rd of the time to complete
- It is now performed by a bot, enabling your workforce to focus on tasks that are high-value, motivating, creative and require decision-making
- Data is accurate and sanitized, cutting costs arising from errors and delays
- The bot can work 24/7, 365 Days a week, increasing efficiency and ensuring seamless operations
Example of what RPA can do: Saves more than 24,000 USD annually at 3 x the speed of manual processes.
A few companies that provide RPA solutions:
- HCL Tech: https://www.hcltech.com/
- HubTek: https://www.gohubtek.com/
- Soft Freight Logic: https://softfreightlogic.com/softwareSolutions.html#softwareSub3
An integration in the case of logistics technology simply means connecting two software systems to collaborate and share information, for example, between your ERP system such as CargoWise One and a Financial software. Using multiple software by department, by branch, by function or by locale is commonplace amongst freight forwarders now. An integration can simplify daily processes and create notable convenience within your business, with your suppliers and partners as well as with your local authorities. There are a multitude of software now each with their unique benefit which your business may want to retain. Rather than changing software or investing heavily in single brand software across departments, work with technology companies that specifically create integrations between your ERP software and other essential software, giving you a 360-degree collaboration platform that includes all the software you require, while maintaining security of transferred data and seamless data flow.
An example of what an integration can do: For one company, 400 Hours Saved on Data Entry per month, 5 Key Partners Connected at Both ends, 2500 EDI Exchange per month.
Companies that create integrations for logistics companies:
- Incepteo – https://www.incepteo.com/
- GEP – https://www.gep.com/
- Soft Freight Logic – https://softfreightlogic.com/enhancements.html#enhancementSub3
Business Process Offshoring (or Outsourcing), is the practice of contracting a specific work process or processes to an external service provider. The services can include payroll, accounting, telemarketing, data recording, social media marketing, customer support, and more.
Transferring the technical jobs from your logistics business to an off-shore partner provides some key benefits including significantly lower costs, ability to focus on core business functions and accessibility to local niche expertise.
An example of the benefit of BPO: With the implementation of robotics and automations by your BPO partner your business can reduce overheads by up to 300%.
Some companies that provide BPO services for freight forwarding businesses:
- Invensis – https://www.invensis.net/
- Soft Freight Logic – https://softfreightlogic.com/enhancements.html#enhancementSub2
- Acquire BPO – https://acquirebpo.com/
In conclusion, it is mutually agreed that data entry is a necessary part of every logistics business. However, automating and digitizing data entry comes with significant benefits which ultimately save your business cost, increases efficiency and creates a seamless workflow.
email@example.com to speak to our consultants about how your business can entirely eliminate data entry.