Freight forwarder analysis – how can Parnity help
Created on April 5, 2022 | Last updated on May 10, 2022 at 01:56 pm
In this article you will get:
Technological innovations are gradually making their way into the freight forwarding and logistics industry. Digital tools are increasingly being used for freight forwarder analysis, partnership management, and automating processes.
The digital transformation in freight forwarding brings with it solutions to make business operations faster and more efficient. Specifically, when it comes to data analysis, forwarders must know how to collect and analyze it to find ways to improve their business processes.
Unfortunately, many companies in the industry still don’t know how to use data to their advantage and end up not using it at all. But your freight forwarder doesn’t have to be one of these companies…
Why should I analyze my freight forwarder’s data?
Every day, logistics companies collect an immense amount of valuable information in their database that can be used to improve their business. In other words, freight forwarder analysis can, among other things, help you gain insights about problems or new opportunities you may have in your business and ways to improve them.
Through data analysis you can, for example, identify problems and opportunities in your freight partnerships. You may find that one of your partners is giving you far more cargo than you are giving them, or vice versa. Or you may also find that you are missing a great business opportunity with some of your forwarding partners.
Knowing how to analyze your freight partnerships is one of the ways to improve your forwarding business. After all, you need to know if you are making profitable partnerships, right?
So let’s dig a little deeper into that…
How can I analyze my partnerships with Parnity?
Knowing the performance of every partnership your forwarder has should be a priority. Individually understanding each forwarder company and the businesses you two have exchanged, can go far beyond what you expect. But to do that, you need to collect and analyze data.
If you are analyzing your partnerships through complaints, compliments, or reviews, you must skip to the next level, after all, that is not the best way to analyze your partnerships. Evaluating a freight forwarder partnership requires much more than that, you need actual data…
Partnership Analytics is a Business Intelligence tool developed by Parnity to help you, freight forwarder, visualize all the business data regarding your forwarding partners – the volume of cargo sent to your partner and the volume received, the profit generated with that partner, the amount of business you have exchanged by month, and which are the criteria (modal/city/expertise) that you have more business exchanged.
By uploading your Business Data to Parnity’s analytics tool, you will know not only know which forwarders are giving you more business so that you can continue to have a good relationship with them, but also which agents are giving you routing orders and that you aren’t sending any, or the other way around.
In addition, you will know which countries you have been moving the most cargo to and which ones you should improve, so you can make the right decisions based on your own data. In conclusion, this freight forwarder tool – Partnerships Analytics – allows you to keep your business development organized and understand which of your partnerships are win-win and the ones that need improvements.
Not to mention that you can upload to Partnership Analytics, information such as:
- Any unique code that you use in your company to identify a business;
- The name of the company that made that cargo transportation with you;
- The exact date that that business has been registered by you;
- The type of goods, total volume, and weight of cargo transported in that case;
- Incoterm and main modal used in that transportation;
- Destination and origin of this specific transportation;
- The type of operation (export or import);
- Total profit you made with that business;
- And much more – click here to find out.
To see how Parnity’s Partnership Analytics works watch the video below:
When speaking about partnerships between freight forwarders, there’s a lot you can learn from the business you have been exchanging. That’s why having a data analytics tool in your freight forwarding company will help you to improve your partnerships.
Business data analysis can help managers make strategic decisions, achieve goals and solve problems. Partnership Analytics provides you the analytical depth needed to improve your partnerships and allows you to visualize, in an easy and intuitive way, a variety of information so you can make data-driven decisions.
Analyze your partnerships with Parnity’s help!
Freight forwarder analysis is key to monitoring the quality of your partnerships and understanding each component that makes an individual forwarder partnership successful or not, and its evolution.
Parnity’s Partnership Analytics is the best way to monitor all business data about your forwarder partners and make data-driven decisions, optimize your processes and improve the quality of your partnerships.
To start increasing your forwarder business generation start with your current partners, analyze them and then start the improvements. Click here to schedule a meeting and learn all about Parnity’s BI tool – Partnership Analytics!