May 22, 2024


Savvy business masters

Solutions ensuring the efficiency and security of freight transactions

What is the best way to ensure the security of a freight transaction, from selecting the best offer to finalizing the operation? Are commonly used spreadsheets the right tool? Or maybe there are better ways to increase the efficiency as well as security of company data and contractors’ data?

Big data and cloud computing solutions

Cloud computing is becoming more and more popular every year. According to CISCO’s forecasts, in 2020 less than 20 percent of company data will be stored in traditional data centers. They will be supplanted by Private Cloud data centers and Public Clouds.

Modern cloud solutions provide access to information from any place and device, as well as to many people at the same time. On the other hand, the Artificial Intelligence and Machine Learning technology allows you to quickly analyze processed data and draw precise conclusions. By combining these two technologies, logistics companies will gain the opportunity to:

  • prepare instant freight quotes
  • analyze data in real time
  • streamline the reportingprocess
  • Monitor transactionprogress
  • Providecomplete data security

Advantages of blockchaintechnology

Blockchain is a technology that was created to minimize the risk of fraud, theft and other threats to the course of any transaction. Why would blockchain benefit companies in the freight industry? Here are some of the most important reasons.

Blockchain allows full monitoring of the course of the transaction from the moment of the quote, through the conclusion of the contract to the performance of the service. The complexity of the block chain gives the possibility of personalized identification of a single contract and all its elements. Thanks to blockchain it is possible to monitor the location of the transported shipment and determine its current condition. It is also possible to monitor the work of subcontractors having contact with it. And in case of theft – quick recovery. In addition, blockchain enables quick detection of emerging transport disturbances, and thus, taking immediate actions to eliminate them.

In addition, blockchaintechnology:

  • ensures low costs and high efficiency,
  • is resistant to all types of IT system failures,
  • is resistant to cyber attacks.

Alternative solutions to increase transaction efficiency

Blockchain is still not very popular in freight management. Why? Blockchain technology is still in the development phase, and the first industries that benefit from its advantages are the financial markets and energy. Is there another way to secure freight transactions, then?

Companies interested in increasing the level of efficiency and security of transactions can use cloud-based logistic software. What are the benefits?

First of all, these applications increase the efficiency of everyday operations. They allow you to generate freight quotes in real time and control rates, costs and margins. Secondly, using cloud-based applications increases the security of your company and its clients’ data. It alsoallowsarchiving and analyzingfreightoffers.