The shipping and logistics industry is one of the largest growing industries in the world, over 90% of merchandise is carried via shipping and logistics by overseas shipping to even local delivery.
To manage shipping and delivery business is not an easy job as there are many challenges faces this industry in their daily routine like labour cost, freight cost, maintenance cost, ever-increasing fuel cost, assets, import-export duties, High Valuation Asset Tracking, Maintaining stock records of materials, Follow up with clients for payments, Record of damaged goods, Maintaining material prices.
For managing all these processes, the company needs a robust and scalable solution that will give the company a single view of all their processes and prepare reports according to what the management wants and can be extended by developing extra feature and can be integrated with other applications.
How iXERP meets these challenges.
- iXERP helps shipping and delivery businesses to record costs like labour, freight, maintenance with the help of additional cost feature & maintaining the cost records will also help to reduce or overcome the cost with proper planning.
- iXERP help in recording all type of expenses and compare it with the budget prepared earlier.
- The most important factor for the Shipping and Logistics business is customer’s records, which is needed for billing and invoicing, maintain a good relationship and follow up with customer for payments and consignment details etc.
- iXERP not only helps you to maintain the customer’s records but it also can send customer statement through email.
- iXERP sales module provides the ability to issue invoices and provide customer’s details reports for sales register which gives details about invoice, revenue and comply with tax laws by keeping tax/VAT records to be reported anytime.
- iXERP general ledger module generates automatic journals based on the recorded transactions to helps the accountants team to pull out the GL report in detail with its financial statement assigning and location.
- iXERP provides deal/project/cost centre/branch accounting by assigning a cost centre to the transaction like invoices, expenses and payment, then it will automatically calculate the profit and loss for this transaction.
- Using iXERP shipping businesses, companies can record all types of expenses and costs like fuel and labour and assign them to certain deals or projects to have a detailed breakdown of the expenses and cost assigned to certain deals.
- iXERP inventory module can maintain stocks level, consignment goods, manage distribution warehouse, adjustment for damaged goods etc.
- Shipping and logistics businesses can track their assets and it’s depreciation cost with iXERP, starting the procurement process till the asset disposal. iXERP is also flexible with all types of standard depreciation methods, so shipping companies can generate a report with assets register which provides vital data on asset life cycle like when you have acquired the asset (Cars, Trucks, Ship, Motorbike etc.), cost of the asset, Depreciation of asset, disbursement cost of asset etc.
- iXERP sales module can manage receivables, to provide debtors ageing report which provides details like how many invoices are issued for this customer, how much the customer paid for every invoice and how many invoices have crossed the free credit period and how many invoices falls under the danger point with total customer balance and pending amounts.
iXERP for Shipping businesses
iXERP for shipping and logistics businesses is the most robust and scalable ERP solution that can manage and handle all shipping related transactions and other office processes from a single interface. iXERP cover all shipping businesses requirements even if it is very special customisation through a very rich API to extend iXERP application or integrate with our solution partners applications like CRM, document workflow, documents management etc.
For the shipping industry, it is very crucial to maintain and track of entire operation so that necessary actions can be taken at the right time. This industry has multiple operations – from owning freights to providing manoeuvring services. All these transactions can be handled from iXERP along with maintaining records of provision like food and fuel for a vessel owned or leased by the company.
Using iXERP Shipping businesses will be able to address all aspects of the shipping industry as the information passes through the system quickly and effectively from anywhere in the globe, so it saves time for data loss or duplication as iXERP save and verify all the important information in a single database. Huge time is saved and can be utilized to focus on important subjects.
By using iXERP cloud application shipping and logistics businesses will be able to do the following:
- Multi-currency Exchange rates
- Budget Maintenance
- Assets performance (Truck, Motorbike, vessel)
- Services profitability and cost
- Expenses tracking and control
- Customer Payments and Collection
- Customer’s management
- Customers and deals profitability
- Inventory Tracking
iXERP solution can also be integrated with other systems that are available based on customer’s requirement like tracking mobile applications, so it can directly flow into the main system for the management without any human intervention by using iXERP API.