Freight forwarders' e-Pricing: what's behind the scenes?

Published Jan 17, 2022 , 3 min , digital , shipping , technology

Digitization has brought forth many benefits for freight forwarders. One of the best tools of digitization is e-pricing. Many freight forwards can’t build their own digital platforms for many reasons, and for them, e-pricing is the best available solution. E-pricing is the use of tailor-made software that is responsible for:

·       Simplifying information from ports, shipping firms, customs, and other sources.

·       Creating a glossary of terminology to be used.

·       Managing numerous service providers' pricing and contracts.

·       Generating automatic quotations.

So, if you want to thrive in this industry in the future, it’s wise to use the benefits of digitization in all aspects of your business.

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A freight forwarder understands how difficult, complicated, comprehensive, and time-consuming it is to prepare a quote using traditional procedures. Why keep doing it based on conventional ways when e-Pricing for freight forwarders allows you to do it much more quickly and easily?


Top shipping businesses, including freight forwarders, have been providing e-pricing solutions to their consumers for some time now. However, for their daily job, it is insufficient because a few shipping businesses assist them with just a fourth of what they want when handling rates and contracts via web tools. Everyone participating in the freight sales process should, in theory, have standardized their operations online. Nevertheless, it appears that this will take a long time since all participants in international commerce must embrace the new era or at the very least be a part of a shipping digital ecosystem, which, despite its rapid evolution, is still incomplete.


What are the benefits of using e-Pricing software for freight forwarders?


It's reasonable that not all freight forwarders with the desire to begin their digital transformation have the resources to create their own digital systems or solutions. Other options, such as specialized software, are available to them. We could define e-Pricing (which is still a new term in the maritime industry) as digital solutions for maritime freights that provide real-time access to rates and all the information a freight forwarder needs to manage a quote and close a service contract in a matter of minutes.


Because no two clients are the same, and no two wishes are the same, a freight forwarder's quotation work will never be the same twice, even if the client is the same. A complicated procedure lies behind a quote request to establish what sort of transportation is necessary, including what containers to use, routes, timetables, ports, customs, surcharges, storage, and so on.


That's when e-Pricing software comes into play to make things easier. How? Very simple, thanks to clever algorithms that are in charge of:

  1. Simplify information from ports, shipping firms, customs, and other sources.
  2. Create a glossary of terminology to be used.
  3. Manage numerous service providers' pricing and contracts.
  4. Automatically generate quotations.

As a result, closing a client's deal is considerably faster, simpler, and more efficient.


The greatest part is that the program accomplishes everything in a matter of minutes, allowing freight forwarders to save time, save costs, and improve customer service. So, if you have the proper e-Pricing software tailored to your needs, what you used to seek for among hundreds of emails, numerous spreadsheets, and/or several PDF files can now be done instantaneously. To summarize, e-Pricing provides freight forwarders with several advantages. It's time to put technology to work for us, to employ the bespoke software that's right for our company, and to start reaping the rewards of digital transformation as soon as possible.

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