Features To Look for in a Transportation Management System Software

If you choose to use one, a Transportation Management System software (TMS) can be of great help for your business, as well as act as a powerful tool for keeping your customers satisfied. All you need to do is ensure that the Transportation Management System software you choose is the most suitable one for your needs and requirements. But how do you decide which TMS will be the best? Well, the right TMS will save you money, time and help your business in becoming more efficient. And to achieve that, you will have to focus on certain features that will boost your business. For your convenience, here are the four main features that you should be looking for in a Transportation Management Software:

1. Carrier Contract Management

Like most businesses, I am sure that even you are trying to track multiple carrier relationships with your different contracts. This is what the right software will do for you, i.e., simplify your carrier contract management. It’s simple, when you digitize contracts, it will be easier for your team to compare and track them. Additionally;

• It will help you track all of your individual terms and carrier agreements

• It will provide you with alerts whenever the contract is up for renewal

• It will also help you compare costs of the carrier so that you could choose the lowest one.

• It will save your energy by accurately deducing the whole cost of delivery so that you could ask your client for payments with more security and certainty.

2. Risk Management

Having TMS in the business of shipping hazardous materials is a huge advantage. As we already know, the government is always looking for opportunities to fine you, and rightfully so, whenever you are shipping hazardous materials in an improperly prepared way. As such, you need to pick up a TMS that will manage your haz mat paperwork along with secured packaging and safe labelling.

Your TMS will also help you avoid international shipping risks as it automates the audited process by generating reports and ensuring that due diligence with in-country regulatory programs or cross-border customs requirements is met.

3. International Logistics Functionality

If expanding your business internationally is one of your main motives, then TMS will make shipping extremely easier for you. Simple look out for these features in your TMS:

• Multi-language interface screens

• Selection of air or ocean carriers

• Supports foreign currencies

• Manages commercial invoices

• Calculates value-added taxes along with all other required charges.

An effective Transportation Management System software (TMS) will always keep up with the changing trade agreements and embargoes. It will also perform system checks and will assist you with trade management. As TMS also performs embargoed countries check and restricted party screening, it will help ensure that you don’t violate any export control regulations, intentionally or unintentionally.

4. Product Visibility

As shipping is one of the most important parts of a business, people usually panic when their shipment is MIA. But if you have a TMS, it will help you save yourself from all that panic. It will provide you with full visibility of the products and will track the whole shipment status for you all the way from pick-up to delivery.