Find The Best Software

It is one of the top reasons they have excessive demand nowadays. Some companies might take better advantage of the software than others. Below are mentioned some of the leading providers in the industry that are quite popular and helpful for freight brokers:

AxonSoftware Freight

 

Freight management system

 

eTrucks Mileage App

Freight Broker Software

BOLT System

Is Freight Broker Software Necessary to Run My Business?

If this is the question that comes to your mind when you think about installing freight software, then the answer would definitely be YES. When you have a freight brokerage business, you will really require a program to manage and sort everything. And what can be a better option than a freight broker software? Most of the newbies are successful in their business and earn a good amount of profit at a very early stage of their business. This is due to the fact that they have a proper system to effectively handle their customer freight, to pay carriers, and to invoice customers. They help monitor the whole process and avoid any errors that generally occur while following the traditional approaches. It helps in maximizing efficiency while reducing costs at the same time. The transportation management also gets better. You can also easily avoid any kind of delays and ensure the timely delivery of your product.

Nowadays, to successfully run your business, you need to have a freight brokerage software installed. Transportation management software provides a logistics platform for a company to manage its day-to-day transportation operations, helps managers in trade compliance and documentation. It makes it easier for managers to monitor and optimize their transportation operations in the most efficient manner.

How to Choose the Best Freight Broker Software to Use in 2020?

You might be wondering what factors you should choose a freight broker software among a wide range of options available in the market. Well, first of all, it depends on your budget and specific needs. Many companies may try to sell their products to you, but you must keep your needs in mind while buying the final one. It is your final decision; we can just help you out with this task.

The freight broker softwares are getting better with time. The features and advancement are being added as the time is passing by. There is a wide range of options available for brokers when it comes to choosing a transportation management software for their company. A TMS helps in improving the overall management of the business and also in streamlining their operations.

The main advantages of a freight brokerage software are that they help the freight brokers enter loads easily, dispatch drivers quickly, choose appropriate carriers and pay them, and invoice customers. This technology has changed the freight market altogether. There is indeed a fast-growing number of automated load-matching technologies. These technology solutions help you take a wide range of approaches to connect better with carriers, shippers, and freight brokers. This makes the working of logistics and supply chain more efficient. In turn, they help in increasing the profits and mitigating risks at the same time. The entire process is managed by the digital brokers, sophisticated systems, and electronic load boards. Some focus on immediately transacting on the spot market, while others aim to foster greater collaboration. This amazing combination of software, relationships, and technology has potentially made the whole freight and logistics value chain more effective and efficient.

Apart from these softwares, you would find many more when you search through the internet. Just do thorough research according to your requirements and by keeping your budget in mind. The features of different softwares would be various and their prices would also vary. You must also be cautious while picking software as it is a foreign concept to many. Before you purchase any kind of software, especially if you are new in the business, it is recommended that you walk before you run. You must also be aware that you can upgrade the software at any time in the future according to the changing requirements and growing needs of your business.

The process includes licensing, material regulations, obedience to the hours of services, and ifta tax reporting.

The fleet managers make sure that the company follows every rule as well as compliances, and are aware of the regulations to help the drivers in making better-informed decisions for the benefit of their fleet.

However, one such compliance is IFTA- and it is generally a little confusing. Here, in this guide, we have covered everything to provide you with insights into how IFTA works. Let’s get started.

What is IFTA- International Fuel Tax Agreement?

IFTA pertains to the agreement between the 48 states in the US along with 10 Canadian provinces. This allows the corporate carriers to report as well as pay taxes in terms of fuel consumed across the states using a single fuel tax license.

To completely understand what IFTA is, it is quite important to know why this agreement was established in the first place. Before the International Fuel Tax Agreement, it was a compulsion for the truckers to obtain the fuel permit from every state they drive through. Every business owner operating a motor vehicle must file an IFTA reporting program, or have the bookkeeping or a third party to do the same on their behalf.

Well, apart from the advantages of IFTA related to trucking businesses, the agreement also ensures that the jurisdictions are properly reimbursed for utilizing the roads by carriers and heavy commercial vehicles.

Note, besides, that it is no more immoral to directly rob citizens than to slip indirect taxes into the price of goods that they cannot do without.” – Albert Camus

Under IFTA, only the corporate carriers need to report inter-jurisdictional fuel consumption to their base state. However, the state in return tends to collect the taxes on the total usage of fuel, tax returns, and allocate the funds to every state. The base jurisdiction is also responsible for enforcing compliance through the scheduled IFTA audits.

How does IFTA work?

Every business owner operating a motor vehicle must file an IFTA, or have the bookkeeping or a third party to do the same on their behalf. So, right after you submit your application, you need to obtain a license as well as an IFTA decal for every selected or registered vehicle you operate. So, whenever you buy fuel, the price is automatically added to the owner’s IFTA account.

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At the end of every quarter, you must submit the Fuel Tax Reporting Software that mentions the miles traveled along with gallons purchased. Such reports help you to identify either the sum in terms of tax outstanding you owe or the refund you are due. The office of the Tax submission in the trucking is the company’s home state which will grant your repayment and debts respectively.

When to File IFTA?

• For the month of January to March, with the due date April 30th.
• For the month of April to June, with the due date July 31st.
• For the month of July to September, with the due to date October 31st.
• For the month of October to December, with the due date January 31st.

How to file an IFTA report?

• Electronically/Digitally: The return of your tax is said to receive on the date it is submitted.
• Via Mail: The tax return is said to be received by the postmark date mentioned on the envelope.
• Physically/Walk-in: The tax return is said to be received the date it is sent to the office.

What happens in case you fail to pay a return?

If you fail to file a quarterly tax return within a month of the due date will suspend your license and may apply a Jeopardy assessment that can be applied. In case you file a quarterly return, but somehow fail to make the payment on the return, which may include things like late fees, interest, along with penalties within 90 days of the mentioned date- Then your license will be cancelled and you will be fined along with jeopardy assessment. Here, your license will not be valid until you have cleared your account in terms of taxes, outstanding fees, penalties, as well as the interest.

As it is quite clear from the above paragraph that it is the forwarder who is responsible for the safe delivery of products. For this service, fees or one can say cost is also charged. Though the forwarders calculate their transport costs in a slightly different manner, here is how they calculate their costs:

Supplementary Load

Supplementary load, also regarded as additional load is the basic concept in freight forwarding. On a wide scale, people are familiar with this concept. It means that the vehicle is already in use but the whole space is not filled yet. In this situation, as the space is available, the vehicle can take some supplementary load with it. Though, this is a point to note, that additional load usually costs less than the primary load. To calculate the mileage of transport vehicles, miles calculator is a more effective tool.

But for a shipper or the other party, the situation is quite different. Every supplementary load is different from one another and thus things change from here only. The basic condition in this situation is that the route must be long so that the extra load can be unloaded in between. And the other thing is that the vehicle must have enough space so that the load can easily fit in. In case, if the load is not unloaded quickly, the costs can increase.

Less Area

Less area refers to small or less distance. It is expected that as the distance is less, the transport cost will also be reduced. It could be called technically correct as calculation of transportation cost is largely done on the basis of kilometers. Thus, the basic simple rule is less distance, less transport cost. Though, this rule also holds some exceptions. For instance, the time taken to load and unload the goods is a major point of concern in short distances. Therefore, when it comes to short distances, the freight forwarder always has a predetermined price. It can also be called a minimum price that the other party has to pay irrespective of the kilometers traveled by truck.

Utilizing Gaps in the Best Possible Manner

Large and heavy goods that do not fit in the pallets of trucks also require transportation from one place to another. Thus, to solve this concern, the truck drivers majorly keep these kinds of products in between the other products. This is the best method to save cost. By doing so space is utilized in the best possible manner. Hence, one can get complete and efficient utilization as well as a return of the amount spent. The IFTA state mileage calculator helps to display the mileage by city to assist trucking business to figure out the miles per state.

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Though this idea seems good enough, the road freight system does not work this way. The goods that a truck is carrying must be properly secured so that the lives of other people and drivers are not at risk. In case, if the idea of gap utilization is being put into action, then it is necessary to secure the goods in the best possible method. Thus, there is no need to save space, but the actual need is to utilize the space in the right manner.

Factors Influencing the Costs

There are certain factors that largely and greatly influence the cost calculation method. These factors directly influence the shipping costs that are charged by freight forwarders. Factors are as follows:

Distance or Route

Distance is the basic factor that influences the shipping charges. Moreover, the charges are also calculated on the basis of kilometers that a truck is supposed to travel.

Time

The time period in which the order is placed plays a significant role too. This is an external factor and encompasses facts like weather conditions, holidays, and other things.

Nature of Commodity

Nature of commodity refers to the kind of product that needs to be transported from one place to another. It can be liquid, solid, or powder form. For delivering these goods, specific transport vehicles are required.

Loading and Unloading

The point from where the products have to be loaded and the place where the products have to be unloaded are also necessary to consider. This can directly reduce or increase the expenses.

Conclusion

In the nutshell, one can say that freight forwarders have a wide variety of facts and things on the basis of which they can determine the shipping and transportation costs. Aside from this, there are certain factors too that directly contribute to the cost calculation process. Thus, one must understand all these things before hiring any freight forwarder agency or agent.

Losses are the part and parcel of business. One cannot totally remove them or can get rid of them, but it can only be reduced to some extent. Every business has some degree of risk. No business is risk-free. This is also true in the cargo business. There are many illustrations when the business has to suffer a loss due to faulty cargo. In this situation, the consignee or the shipper can demand the claim against the loss he suffered. Here is a list of five steps that are extremely useful in handling cargo claims and interests.

Testimonial Is a Must

The first and the basic step that an individual must take is to collect the relevant testimonials, i.e, the evidence. Evidence will prove the authentication of the situation. This is the basic thing that is required. In addition to that, in case the situation worsens and the matter is dragged to court, one can show the evidence he has collected over time.

Though it is a costly affair as well as time-consuming too, the collection and documentation of evidence make the process fast. For instance, documents such as landing bills, pictures of the product, and photographs of the damaged cargo are some of the crucial parts of evidence. These are an important aspect of the interests and claims. Once reliable evidence is provided, the speed of the process boosts up and a legal battle can be won easily.

Find Assistance

Usually, the legal battle is a long battle that cannot be won without cooperation and assistance. Therefore, whenever an individual is appearing for such long legal voyages, he must get help from someone. The advice and suggestions must be taken from the right people. Many times, it has been seen that people alone, without much prior experience, just jump into the battle and often lose it.

The prime reason behind this is a lack of coordination, cooperation, and assistance. Just in case, if you do not have prior experience, then it is important and mandatory for you to get assistance from someone who has pretty good experience in the field. By this, cargo claims can be handled easily. The process will become smooth and clear decision-making can be done. In this field, one can seek the help and advice of professionals who spend years in the field of cargo damage.

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Understanding of the Law and Order

Before directly jumping into the sea of legal battle, it is advisable to understand the functioning of law and order in respect of the cargo’s loss prevention. By doing this, one will be able to understand the rights he possesses. In addition to that, proper and clear decisions can be made on this basis. Apart from that, future strategies can also be designed.

While dealing with the cargo claims it is important that an individual must know all the fundamental rights and laws regarding the cargo claims. One must know the exact dates and the expiry periods so that he can find a base to support the evidence that will be presented in the court.

Carrier Identification

A carrier is the other party who has the obligation to ship goods from one place to another. Thus, whenever an individual applies for the cargo claims, he must clearly understand his carrier, i.e, the other party.

The important information that an individual must know about the carrier is the shipper’s number, pro number, date of origin, cargo description, description of the commodity, and the delivery date. By this, the individual will understand his carrier, i.e, the other party in a much better way. In addition to this, one must make sure that he has a complete record and documentation regarding the damaged cargo.

Act-On Time

The claim must be collected on time. Time is the prime factor that must be considered while undergoing the cargo claim process. Cargo claims are subjected to the time bars. For instance, if your cargo or shipment got damaged a year ago, then there are chances that you will not receive any kind of claim. Thus, the exact time period must be considered. Apart from that, legal proceedings also take time to complete. One must have patience in the completion of the entire process.

In the nutshell, one can say that by following the above-mentioned tips, one can go through the cargo claim process efficiently and effectively.

Impact of New Trends on Transportation Business:

1. Omnichannel shipping and loading: This software allows companies to meet the expectations of their customers. Using omnichannel helps transportation companies to build a solid customer base. It will enable them to attract new customers and retain the old ones. It allows customers to shop with ease both digitally and offline. Using omnichannel adds speed and fluidity to the delivery process and keeps your customers satisfied. Many big brands and businesses are using it to fulfill their deliveries on time. This software provides all delivery details to the buyers, like time of dispatch and delivery.

2. Radio frequency identification: Many freight companies install RFID chips in their commercial vehicles. This helps them to keep an eye on their work and help them know their exact location. They provide people with details like driver trips, number of developers, and time of shipments. Companies use leaves technology software to collect and analyze the data provided. It offers separate barcodes to vehicles which help to scan and get vehicle details. This system adds fluency to the supply chain and allows companies to keep computerized records. It helps in route optimization and cuts down fuel usage. Knowing the exact location of your drivers and vehicles is very helpful. It allows you to deal with emergencies and schedule driver changes accordingly.

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3. Uninterruptible power supply (UPS): A transportation company needs to save a considerable amount of data. Data collection and analysis is very important for a business. It helps them to calculate their tax returns and generate P&L statements. This information comes in handy to plan business operations and save money on expenses. UPS allows companies to know their vehicles’ details like delivery time, trips, idle time, and location. This helps to pay the drivers, using GPS, route optimization, and UPS to optimize their delivery routes and save vehicle fuels. Using this software allows companies to save gallons of fuel per day. This also helps in conserving energy and causes less harm to the environment. It keeps your vehicle in service for a long time and reduces tires’ wear and tear.

4. Embedded system: The success of a company lies in connecting better with your customers. Most companies today are working to gain valuable customer inputs and establish better communication with them. Many transportation companies add efficiency to their delivery and logistics services through an embedded system. This system collects relevant data and allows people to process it how they want. The data collected by this system provide you with customer insights and understand their demands. It will enable companies to understand the business from a customer’s point of view and work accordingly. People can collect, edit, and manage their data with this software. People use it because it is user-friendly and can be operated without any prior training.

5. Globalization in business: Most companies are working on expanding their business and working overseas. There are various automated tools that allow you to manage your business and check your delivery and business costs. To establish your company in foreign countries, you need to expand your global network; they help people store all information. This maintains clarity in business and leaves no place for confusion among employees. Transportation companies need to keep track of the drivers and vehicles if they want to succeed in business. They need to ensure that their shipments do not get stranded anywhere.

6. Using third-party logistics: All the fleet businesses require heavy equipment and vehicles to do their work. Managing these are not easy. A transportation company needs to manage its warehouse functions to deliver products to people on time. They provide raw goods to the manufacturers, retailers who sell the finished products to people. This creates a supply chain for an economy. If you want to provide the delivery option to your clients, you need to use third-party logistics. It helps you to change your equipment and improve your warehouse functions.

7. Opt for re-optimization in emergencies: Many freight companies had to cancel or reschedule deliveries during the pandemic. Now with the assistance of many tools and softwares, you can reschedule your deliveries quickly. Many small businesses thrived in pandemic due to their quick delivery and fast servicing. The freight companies can learn to manage their deliveries and deal with emergencies if they want their business to thrive in the future. You can take the help of a re-optimization software to reschedule deliveries and change driver schedules.

8. Using the latest technology: Many automated systems help people to manage their business. Using computerised softwares to do your work leaves no place for mistakes or confusion. It allows people to keep records of their employees, business transactions, and profit details in an accurate manner. All this information helps people in conducting their business efficiently. This will enable companies to add efficiency to their delivery operations and manage their supply chain efficiently.

The only hard part is how to track these miles accurately and without any difficulties. Previously it was done by manually logging the business miles for each trip and maintaining a log book in the vehicle all the time. But with the evolution of technology and softwares, now we have excellent tech solutions available at our disposal to do the miles tracking job for us in a more efficient way. These mileage trackers or miles tracking apps automatically record the miles travelled for business purposes.

Mileage Tracker’s Benefits

Before going too deep into the benefits of the miles tracker, let’s understand how one can claim their business miles as a tax deduction. There are two ways to claim your business mileage tax-deduction.

1. IRS Standard Rate Deduction: This is the most convenient method for miles tax deduction. There is a fixed IRS rate for each business mile you travel. Once you have the number of business miles driven in a year, then you can multiply it with the IRS standard rate deduction and you will get the amount you save on taxes.
2. Actual Expense Deduction: In this method you not only need the number of miles you drive on business but also need to calculate all your actual expenses related to your vehicle. Expenses like lease amount, fuel costs, insurance and maintenance all need to be calculated for the business miles you drove in the whole financial year. You can only claim the portion of these expenses according to your business miles.

You can choose any method whichever gives you the most return. Again the only issue remains is how to track and record these miles efficiently. Mileage tracker apps are the life saviour for the individuals who usually drive a lot of business miles. These apps not only log the miles but also create a record for the amount of fuel you used while on driving for business purposes. There are numerous other benefits of using a miles tracker app.

No More Guesswork

Without a miles tracker app, we need to maintain the log for each trip as accurately as possible. But there is no way to record the miles accurately and in some cases people lose their logbooks or fuel slips and use a lot of guesswork while filing their tax return. But with a miles tracking app you can officially say bye-bye to the uncertainty and guesswork. Miles tracker records every single mile automatically. It will record all the data and provide you an option to edit it whenever you want. Just make sure you buy the IRS compliant miles tracker, because it will provide you with an IRS compliant report.

 

Mental Peace

Miles tracker apps can lift a huge amount of burden from your shoulders. The amount of time you have to spend calculating your business miles can be diverted to some other positive aspects of your business. Miles tracker apps automatically record all the miles and related data without mistakes. Therefore you don’t need to worry about any mistakes or errors.

Increased Productivity

A person with less administrative burden on his mind can do wonders with his business. Most of the time it is very painful to log each and every business mile and fuel expense for that trip. But with the help of a miles tracker app, there is no need to waste time doing calculations. Miles tracker app will do the work for you.

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Easy to Use

Miles tracker apps are very easy to install and very easy to use. Once you have set up the app, then you can simply forget about it and your miles tracker will track and record each and every mile that you drive and at the end of each month or year you can print out an IRS compliant report.

How to Select a Miles Tracker for Your Company?

There are so many miles tracking apps available in the market. The biggest question arrives is, which one is the best for me. Before selecting an app for your company, make sure you select the app based on certain criteria.

• First thing to look for in a miles tracker app is that it must calculate everything automatically. This will save a lot of time and manual entries.
• Your miles tracker app should be able to keep all data safe and also provide an option to scan the fuel receipts and other documents for tax purposes and maintain them safely in their record.
• Your miles tracker app should be customizable. Always look for an app that allows itself to be customizable according to one’s requirement.
• Miles tracker app providers must also provide customer support in case of an issue. Always prefer the one that has some additional features.

Miles tracker apps are very helpful in claiming your business miles. These apps not only help you claim your business miles but also record all the data regarding your trips. This data will come handy in case of an IRS audit.

Understanding Route Optimization

It is an application or software which finds the optimum route for the drivers. This particular route is short and also does not involve a lot of costs. This directly influences the delivery capacity of the business entity. This superior technology is being used by the majority of large business hubs. Additionally, it serves some great benefits, which in turn makes it a must for business entities. The software offers a lot of information that is immensely relevant in the terms of business and its management.

Pros of Route Optimization

Delivering the Best Route

The route optimization application offers the best route to its users. Therefore, through moving on the available roads, a business achieves timeliness, and deliveries reach on time. In addition to this, such an application is of extreme importance to the field service fleets. The primary usage of these fleets is to deliver the products to the customers. When the products reach on time, enhanced customer satisfaction is achieved, an excellent skill for a business entity.

Reduced Fuel Consumption

When routes are planned automatically, the cost will reduce to a great extent. Furthermore, less distance will be travelled by the trucks, reducing fuel consumption on a daily volume. The maximum finances of a business are spent on fuel. It is a costly expense that the companies have to incur on a large scale. However, with the installation and implementation of route optimization software, a business can reduce its fuel consumption to a successful extent. When it comes to delivery, routes are already provided. This makes a huge difference in the fuel consumption of trucks. No extra cuts will be taken, no stops, exact directions, and everything will reduce fuel consumption.

Cost Reduction

The installation of route optimization software brings with it the benefit of reduced costs. The fuel is consumed less, and the drivers are also aware of their routes, which directly impacts a business entity’s costs. Thus, there is a significant reduction in costs. The initial use of route optimization software is to provide cost-efficient directions to truck drivers. The routes will be well-planned which will significantly reduce the costs spent by the business entity on a particular project.

Supports Multi-Stop Delivery

The route optimization software offers a complete route plan regarding the place of delivery, estimated time, number of optimum stops to be taken, and a lot more. When such information is provided beforehand, the drivers do not get confused. They are already aware of the destination and in between stops. Additionally, they also know the route and can drive effortlessly, without any chaos. Talking about multi-stop delivery, a driver can easily take stops at different places. It also provides assistance when nearby deliveries are to be done.

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Approaches of Route Optimization

For better functioning, a business must know the accurate application of route optimization. Here are a few approaches that a company can adopt to get the best out of the software:

Static Routing

This strategy focuses on geographic locations. Under this, plans are made on an annual and semi-annual basis. This is among the most used methods in the majority of companies. Although, for this method to be successful, there is a requirement of consistency. In simple words, it requires drivers to follow the same rules and paths daily; otherwise, this method will fail.

Dynamic Routing

This method involves setting up the plans daily. However, sometimes, there is the usage of old data and historical patterns. The significant benefit that one derives from this method is: one can make changes as and when needed or required. However, the static routing does not allow for any changes. Thus, this is a benefit in this case.

Real-Time Dynamic Routing

This method is quite similar to dynamic routing and has been extensively adopted from this. However, the central point of difference is it includes mapping on a routine basis.

Thus, route optimization is essential software that every fleet management company or business entity must use. However, before buying any optimization software, the company must ensure that the chosen software has all the features, specifications, and potential to complete the task on time. Talking about field service fleets, they will be most benefited from the introduction of route optimization software. The tasks will become simple, easy, and smooth.