The future of freight is changing as we know it and Freightos is at the forefront of the shift in shipping solutions.
As the world’s first international freight online marketplace, Freightos establishes a more seamless logistics process by allowing retailers to instantly compare air, ocean and trucking freight quotes from numerous providers, book and manage shipments digitally and receive frequent reports from a team of freight experts.
Considering the current Hanjin bankruptcy crisis, retailers now more than ever need a reliable solution to sustain successful logistics operations. With the current Hanjin dilemma, retailers are currently scrambling to make sure all orders are fulfilled before the upcoming holiday season.
“Despite the current crunch, nearly 10 percent of the world’s current container fleet is unutilized,” Freightos director of marketing Eytan Buchman said. “Overcompensation for the Hanjin bankruptcy, carriers fighting for the spoils and ongoing overcapacity will likely drop prices; the question is whether it will happen in time for retailers to see lower rates before the holiday shipping season ends next month.”
Freightos is a potential solution for retailers to work through this crisis because it provides an affordable selection of forwarders and transparency from payment to delivery.
Previously, retailers would have to wait an average of three days for one price quote and freight forwarders were operating without visibility, minimizing the potential for future entrepreneurship. Especially with the ongoing Hanjin bankruptcy crisis, retailers today need a reliable way to import goods without waiting in limbo.
According to Bucher, Freightos is the “Expedia” for freight.
The company’s online booking system and platform are free for retailers looking to ship and manage goods. With its incorporated SaaS application, Freightos allows retailers to browse for transportation quotes and book shipping digitally. Once a retailer finds a desirable quote and provides a commercial invoice, they may pay directly online with a credit card or wire transfer. After the retailer secures their shipment order online, the forwarder that received the business obtains a notification and instantly secures a cargo slot. Booking international freight with Freightos takes about the same amount of time as booking air travel online.
With the successful run of its online freight booking platform, Freightos has plans to develop more logistics solutions in the future. As retailers become more comfortable with shipping innovations and advancements continue in autonomous last-mile delivery, the logistics industry will go through a major overhaul and Freightos will continue stepping up shipping technology for retailers everywhere.
“We are continuing to expand our coverage and available trade lanes while expanding the technical capabilities of our system to cover more and more use cases,” Buchman said. “However, the work ahead is not only technological; there are significant cultural hurdles that need to change.”