Why Choose Outsourced Over In-House Shipping Software Solution

Over the past two decades, automation of business processes has significantly increased in many industries including aviation, telecommunications, and banking. In shipping, automation has improved business efficiency by simplifying critical operations that require time and expertise. Nowadays, with increasing access to modern technology, it’s not unusual to find a small carrier using cheap off-the-shelf shipping software solutions to streamline and manage its core operations more efficiently. However, there are still quite a number of carriers who prefer bespoke IT systems despite the availability of much cheaper packaged solutions.

There are certain factors that motivate shipping business operators to develop their own IT systems in-house instead of buying cheaper off-the-shelf solutions. One of these is the advantage of having full control of the development processes which allows users to make specific improvements to the original platform as necessary. In addition, In-house platforms have been tailored to exact specifications, which is believed to deliver competitive advantage.

However, while bespoke systems offer full control of operation-specific features, they also require skilled IT staff and programmers to implement necessary upgrades. The fact that technology is rapidly changing means that IT platforms date and become unsupportable after a while. If a shipping business cannot keep up with the pace of change, it will find itself stuck with an obsolete technology which cannot support newer IT platforms. In addition, investing in a customized platform to automate only a single segment of shipping operation (e.g. a single segment of a terminal), is not worth the cost of the investment, which is significantly higher than buying off-the-shelf shipping software which can be customized to carry out various functions.

The following are some of the most prominent benefits of using off-the-shelf or packaged shipping software:

1. Price. Buying packaged software is calculated to be 10 to 50 times cheaper compared to developing an in-house IT system.

2. Flexibility. Modern packaged shipping software incorporate built-in switching options which allows operators to customize application to perform various tasks without doing any expensive reprogramming.

3. Upgrade options – Packaged software provides upgrade solutions to keep pace with fast changes in technology to make sure that users are always working from tried and tested, up-to-date, and well-supported platforms.

4. Guarantee. Customized or in-house systems do not offer test-runs prior to installation, and the end-product is not revealed until it has been delivered. Off-the-shelf solution allows you to use a system for a certain period to see if it delivers what you expect before you actually buy and install it into your existing IT infrastructure.

5. Efficiency. Packaged solutions are more cost-effective, require less resources, and deliver long-term solutions that can be customized to handle specific requirements of a shipping business.

While off-the-shelf shipping software offer a lot more benefits both in cost of investment and scope of features, accessibility to technology has significantly increased the number of software developers in the marketplace, many of which are not reputable. Carriers should be careful in choosing a supplier by checking their capability, reliability, and financial stability. After all, it’s not wise to buy from a company who’s not going to be around after two or three years, leaving you without support in a case of system failure.

5 Ways Enterprise Shipping Software Reduce Costs and Mitigate Risks

Enterprise shipping software solutions have been around for quite a while, but some shipping companies including NVOCCs and logistics providers may not have fully understood their impact on modern shipping. Well, when it comes to reducing operational expenses and improving profitability, shipping software plays an essential role.

Here are five key benefits of using integrated software solutions for shipping:

1. Prevent cargo loss or damage by allowing both shipping companies and customers to have complete container visibility while in transit or in carrier-operated warehouses.

This is especially useful for overseas transactions where goods and containers pass through complex supply chain logistics cycles that usually take weeks to complete. Container tracking software give carriers a real-time view of cargo movement, which allows them to track, monitor, and control the entire shipping process. They also make sure that orders are delivered on time and in best condition. Also knows as logistics tracking software, this application enables both carriers and suppliers to give their customers peace of mind by keeping them updated about the exact location and status of their orders.

2. Make best use of container and stowage space to maximize profit.

Operating cost and profit are major considerations when shipping goods. These are also among the reasons large companies idle their smaller vessels and deploy larger, more fuel-efficient carriers, or automate their operations using shipping management software. Doing so enables them to carry greater volumes of shipment in a single port call, which practically reduces their expenses on fuel and maximizes their profit through economies of scale.

At some point, shipping companies have to deal with awkward cargoes that are hard to fit into regular containers. This often results in broken stowage and dead or unutilized container space. Container management software quickly solves this problem. Designed specifically for container fleets, this application automates cargo load planning, optimization, and distribution of container stocks, which improves organization and increases the storage capacity of each container. For non-container cargoes, shipping software companies have also developed customized applications such as bunker management software designed for bunker carriers.

3. Pinpoint existing and potential container damages before they become completely irreversible.

Container damages can result in serious problems during shipment and or transshipments. Container repair software can help carriers pinpoint potential problems in containers and manage the labor-intensive repair process. This includes automating the associated paperwork, sending estimates, tracking status, and billing. Most importantly, this software application enables carriers to act quickly before those problems turn into expensive and extremely dangerous situations.

4. Streamline communication between ships, carriers, and ports, to facilitate seamless execution of everyone involved in the logistics network.

Cheap and streamlined communication is part of every successful shipping transaction. Shipping line software provide easy ways for logistics managers to send and receive messages using various communication devices and channels such as voice, SMS, and email. When problems arise, notifications can be communicated instantly across the supply chain, and those in charge can implement solutions to address issues and keep all operations on track. This capability is extremely important for cargo consolidators who use NVOCC software to constantly communicate with vessel operators from the shore.

5. Ensure that trade rules and regulations are strictly followed.

Every country has its own set of trade regulations for shipping. Sidestepping those regulations can result in penalties that include hefty fines, cancellation of trade license, or even imprisonment. Liner principal software streamlines the trade compliance process by eliminating paperwork to make the whole process fast and hassle-free. Carriers equipped with integrated shipping agency software receive updates on compliance requirements in each country or trade route. This helps to ensure that every segment of the supply chain has been appraised and well-informed of compliance requirements.

They say “an ounce of prevention is better than a pound of cure”. This saying is worth some serious reflection especially when it comes to container or bulk shipping where small glitches can easily develop into extremely expensive and irreversible damages. The initial investments for liner shipping software implementation can be overwhelming at first, but when long-term profitability and competitiveness are on the line, it is certainly worth serious consideration.

Retail and Private Banking Software Solutions

Retail and private banking is no longer the traditional one we know. It is now faced with a stiff competition given new kind of emerging competitors. Technology has transformed the industry so much that it has caused changes in consumer behavior and even expectations. This has forced the banking sector to reconsider their business models and technology they use. Gone are the days they could dictate to customers what they want.

This leaves them with very few solutions; to either change their way of approach or ship out. On changing, it is not the employees, unless it’s really necessary. They have to change the way they offer retail banking software solutions. This is the only new way to maintain market position while meeting customer demands at the same time. At times a bank may opt for private banking software because they need to customize it in their own way. It is indeed a good idea but has to consider with great care the safety and efficiency it has. Many companies offer private banking software solutions along with other services like BPO and consulting services. Go for the one that gives the most reliable tools for financial and banking establishments.

Whether retail or private, these banking software solutions provide the banking institution with rich end-to -end functionality and ability to streamline their operations. This enables them to provide personalized top notch services to their wiser clients. Backed up with passionate expert consultants, innovative automation led services; no bank will ever be shipped out of business. They will experience loyal clients like never before.

Due to their modern nimble core and great analytics, banking software enables you to provide convenience to your clients and even how they can manage their own finances. It has a single platform that distributes digital and assisted data across all channels. The software gives you unlimited reach to your clients now, tomorrow and even in the future. This will make you understand their needs before they even voice them, and come up with the best way to meet them. The retail or private banking software is mostly characterized by their ability to do all or even more of the following;

· Investment portfolio management

· Overseeing transaction

· Placement and investment portfolios

· Full accounting

· Client security custody management

· Electronic commerce solutions

· Mortgages

· Islamic banking systems

· ATM technology

That aside, the software you choose should address your banking technology as a necessary and a must have feature. You do not want to be buying it every time and changing them frequently also. If possible, ensure it deals with how to regulate market challenges facing the industry today. An intelligent one should foresee the future too. Finally, it must bring out differentiation to cut you from other competitors while keeping operational costs down and profits up.

Since the software is a combination outstanding technology, companies should help any retail or private banking institution in rolling out the new banking software or integrating it into the system until they can work swiftly with it. Change resistance, bugs and issues arising are some of the things that make otherwise good software be rejected. The providing company should be around to help until the operations are smooth.