Getting Started

The cash conversion cycle is an important process for any third-party logistics provider (3PL) or freight broker that wants to improve their financial health. However, in many organizations, the focus on this key area of performance is often left to the CFO and their team. It is understandable why this

Any freight broker, carrier, or third-party logistics provider (3PL) knows that a standard part of their business is the freight audit and invoicing process. While a necessary part of any business operation, it has yet to be known for simplicity. In fact, for many organizations, the complexity and the costs

Virtually every freight broker or third-party logistics provider is familiar with a Transportation Management System (TMS). A TMS is essential for business operations such as the optimization of routes, the selection of certain carriers, and the planning of shipments.   However, when it comes to improving operational efficiencies, reducing invoicing errors,

Proof of Delivery is More Important Than Ever . . . Here’s Why. Proof of delivery (POD) is the bedrock of operational success for third-party logistics providers (3PLs) and freight brokers. With accurate proof of delivery, you can keep track of inventory and expenses with ease. Continue reading to learn

For any freight broker or Third-Party Logistics provider (3PL), selecting the right software to help manage the day-to-day operations of the business is pivotal to success. As a 3PL or broker, you understand the importance of efficiency and accuracy in your operations and how this can impact carrier satisfaction and

Here we are at the start of a new year and much like years past, the one thing that we can expect in the freight industry is change. As we head into 2024, there are some key trends that are shaping the industry and impacting the bottom line of freight

Data is arguably one of the most valuable resources that third-party logistics providers (3PL) and freight brokers have, but in many cases, little is being done to maximize the value that it can provide.   The right data can help optimize operations, improve customer service, and grow revenue. But data can

When you speak to any executive that has been in the LTL market for two years or more, they will likely tell you that of the top five pain points in the industry, two are the following: These items also happen to be two of the key problems that Navix

Most freight brokers and third-party logistics providers (3PLs) are well aware of the slim margins that exist in the logistics business and that streamlining financial operations is key to organizational health. A key part of financial stability is managing accounts payable (AP) and accounts receivable (AR) and it is a

It has long been accepted by third-party logistics providers (3PLs), freight brokers, carriers, and shippers that invoicing errors are just a part of doing business. Multiple research reports state that up to 25 percent of all freight invoices have some kind of error.   The issue of invoicing errors is

Ask any executive in any industry and one of their primary goals is growth. The same goes for freight brokers and third-party logistics providers (3PLs). Even with all of the turbulence in the logistics industry, the logistics industry is still highly competitive and in order to meet your short and

We recently had the opportunity to sit down and have a discussion with Curtis Garrett. Curtis is the Senior Vice President, LTL at FreightPlus and also one of the premier experts on the world of LTL. We were able to speak about the future of logistics, some current trends and

Artificial Intelligence (AI) and Machine Learning (ML) have revolutionized various industries, and the shipping and freight sector is no exception. As freight brokers and third-party logistics providers (3PLs) look to streamline their operations, many are turning to AI and ML to automate their freight audit and invoicing processes and thus

When it comes to growing your business, effective financial management can make all the difference. Two critical aspects that all freight brokers and third-party logistics providers (3PLs) should be focused on are optimizing cash flow and the cash conversion process. These processes are critical for ensuring both the short and

In any business, cash flow is king, this is especially true for those in the logistics space. With the economic uncertainty and the impact that it has had on the freight market, it is imperative for every organization to improve their cash position.   One key metric that every third-party logistics

“If you can help reduce our days sales outstanding (DSO), that will be a big win.”    This is what I heard recently from the Director of Finance for a freight broker. At the time of our conversation, he had a DSO of more than 47 days and as a result was

Maximizing revenue growth is a top priority for most logistics companies to achieve long-term success. But how can companies ensure that their current operations and strategies are best positioned to achieve those goals? Measuring and tracking specific metrics is the most effective way to identify areas for improvement and drive

We recently had the opportunity to sit down with Kevin Ziegler, Chief Technology Officer for Navix. With over 20 years of experience in technology and the leader of our technology and development teams, we wanted to get his perspective on technology, AI and what the future holds for the logistics

One of the things every business owner knows is that little things make the difference and that when you get the small things right, it often leads to positive and impactful outcomes. One of those things that many freight brokers and third-party logistics providers (3PLs) struggle with is their invoicing

There is no shortage in the amount of data that is available to third-party logistics providers (3PLs) and freight brokers that will help them make decisions. Being a data-driven business can often be a competitive differentiator. However, not all data has the same value, and it is why leading organizations

As long as there has been a logistics industry, organizations have had the challenge of managing invoicing, auditing, and the cash conversion cycle efficiently. And, it seems as long as there have been these challenges, there have been some widely accepted myths in the industry leaving many with the belief

The goal of any third-party logistics provider (3PL) or freight broker is to ensure seamless transportation and delivery of goods for their customers. While there are many other business objectives, this is priority one. Making this happen is not without its challenges.   To address these challenges, most organizations have relied

In today’s rapidly evolving world, we have seen the logistics and transportation industry embracing innovative technologies to stay ahead of the competition. Artificial Intelligence (AI) and machine learning have emerged as game-changers. We are seeing more and more that these technologies are enabling freight brokers and third-party logistics providers (3PLs)

I just returned from SMC3 Connections in Orlando. It is always a highlight of my year and I enjoy the many conversations and the insights that the conference affords; this year was no exception. Over the next few weeks, I will be posting our musings based on the conversations we had

Why 3PLs & Freight Brokers Should Invest in Technology During the Economic Downturn As the saying goes, “When the tide goes out, you see who’s naked”. And the saying applies here, that when the economy turns downward, it’s easy to see which third-party logistics providers (3PLs) and freight brokers prepared

How AI and Automation Are Transforming 3PL & Freight Broker Efficiency  The world of logistics and supply chain management is rapidly evolving, with technological advancements driving unprecedented levels of efficiency and cost reduction. Among the most impactful of these advancements is the integration of artificial intelligence (AI) and automation into

In today’s fast-paced logistics industry, efficiency is the key to staying competitive. As published in Digital Journal, the freight audit and payment market is set to experience significant growth over the coming years with a predicted 11.9% CAGR.    This growth coupled with the rise of new technologies, third-party logistics providers

Freight auditing and invoicing is an essential part of the logistics process that helps to ensure that transportation costs are accurately billed and processed and that your clients are getting the best value for their shipping dollars.  While freight auditing and invoicing is a common practice for shippers, freight brokers,