Creating Room to Maneuver Instead of Creating More To Do
Common Problems Within Transportation Management
A company’s number one priority is making sure that its product gets out the door. This concern means that their processes need to be executed correctly and smoothly, without any disruptions along the way. When a company prioritizes its execution, its processes become smoother, but it takes vital focus away from strategy. Your company's strategic moves are crucial to improve cash flow and stay ahead of the competition. Unfortunately, it’s difficult for global companies to keep track of these moving parts without some of them falling through the cracks.
Your company must strive to achieve strong supply chain visibility and communication, better carrier performance, and control over transportation costs. When companies remain reactive rather than proactive, they always end up exhausting their resources in this realm.
This reality makes it difficult for them to mature toward peak supply chain efficiency. The solution is not to add more tasks to your supply chain team's plate but to find ways to maneuver within these issues. For companies to implement more strategies and mature in global logistics, many choose outsourcing to a Transportation Spend Management provider like Trax.
Benefits of a Transportation Spend Management Partner
Gain Confidence in Process Execution
When your company partners with Transportation Spend Management (TSM) experts, you drastically diminish the threat of using your resources too quickly. Your company needs to focus on process execution, and a Transportation Spend Management partner lets you gain confidence when performing those processes.
A TSM partner focuses on global freight audit and daily execution. Companies no longer have to use the brunt of their efforts on managing invoices, reconciling payments, and allocating costs against budgets. A TSM provider will give your company a sense of transparency, allowing you to trust that they will take care of your products correctly. With this confidence, your company can focus on strategies that prevent disruptions and improve your entire supply chain.
Lift The Weight of Responsibility
A powerful Transportation Spend Management strategy builds your business intelligence with quality data and analytics so you can increase cost reductions, free up resources, streamline operations, decrease inventory holding costs, and beyond. Trax’s services are built for high-value global supply chains that need more than just standard Freight Audit and Payment. Trax ensures correct, on-time payment of freight invoices regardless of carrier, location, currency, and technology so you can increase payment precision while reducing the strain on your people. Realize savings while gaining visibility into your data in a centralized, collaborative platform.
Have Accessible Data
Global logistics can provide your company a massive amount of transportation data. However, this mass of data can be challenging to sort through in a way that allows you to make accurate decisions. A TSM provider like Trax standardizes this data and joins it with other data sets. This provider organizes all the information you need and places it at your fingertips, empowering you to make better decisions for moving forward.
Managing your data correctly saves you time, money, and human capital so that you can implement the best strategies for your increased growth. Having standardized data allows you to have better budgeting, planning, forecasting, and strategic decision-making. You’ll have an easier time creating carrier scorecards, ultimately spending less time managing your carriers. You can also use this data to identify root issues and create solutions, all backed by data.
The benefits of a Transportation Spend Management provider also include control over your company's finances. When you have a better view of your data, you can see your transportation costs. You’ll be able to see how much money remains tied up in transportation payments, processes, and disputes. This information is crucial to enable your company to save those costs for more strategic items.
How Can Trax Help?
Trax’s Transportation Spend Management solutions can help your company mature every step of the way. Our TSM solutions use a data-driven approach to help with every aspect discussed above. Trax meets your company where it is at to optimize financial and operational performance. For example, if your company is using its efforts solely on reacting to FAP disruptions, Trax can take on the responsibility of helping your company master Freight Audit and Payment.
We can enhance your data management and visibility so that you can become more proactive to dissolve disruptions before they happen. As your company becomes a master at being proactive, we can help you optimize all your processes to have even more confidence in getting your products out the door.
With every improvement, your company will have more control over your finances and will be able to allocate costs to higher priorities. As a result, you will have room to maneuver in ways that give your company a strategic edge and make you trendsetters in global logistics. Contact Trax today to speak with a Transportation Spend Management expert.
Trax is the global leader in Transportation Spend Management solutions. We partner with the most global and complex brands to drive meaningful optimizations and savings through industry-leading technology solutions and world-class advisory services. With the largest global footprint spanning North America, Latin America, Asia, and Europe, we enable our clients to have greater control over their transportation performance and spend. Our focus is on your success.