The digitization of freight management and transportation logistics is well underway and is being widely adopted by carriers, 3PLs, shippers and other supply chain companies. This was inevitable because of our society’s proclivity, need and expectation of instant information. While the transportation industry lagged behind in adoption of technology, it is quickly catching up because of the benefits realized. One of the most adaptable, advantageous and easiest implementations to make has been the inclusion of freight-pricing application programming interfaces (APIs).
APIs help improve the communication between companies throughout the supply chain. They increase transparency by allowing to easily integrate and share information between partners, resulting in improved decision making. Additionally, APIs can be integrated into many existing transportation management systems (TMS), making them the right option for a number of shippers and 3PLs.
APIs and Your TMS
Transportation management systems act as a logistics hub for a company. A TMS facilitates communication between the ordering process/system, the warehouse and the carriers. They keep companies abreast of their supply chain and help things run smoothly. Adding APIs to a TMS only enhances its value because they help that same level of communication happen between the shipper, 3PL and the carrier.
Whether your company has its own TMS or uses a third-party solution, APIs can be easily integrated because they are cloud-based and are activated and accessed through a simple internet connection. A freight-pricing API provider should be able work with your company or TMS solution provider to tailor the API and its functionality to your needs. By configuring integrations, you will streamline the end-to-end processes, resulting in improved productivity and client satisfaction.
API integrations into your TMS will allow your company to process more loads and book the best rates with your preferred carriers in real time all while having access to performance data, resulting in better decision-making and cost savings.
The Benefits of APIs in TMS
Freight rates: With its automated ability, the API integration into your TMS will allow you to send freight quote requests to multiple carriers at the same time and immediately receive freight rate estimates and transit times in response. Depending on your API integration, you may have access to additional lane rate reductions as well.
Freight tracking and dispatching: Through the API, you can track your shipments in real-time. It also allows for confirmation of a pickup time from the carrier as well as confirmation of the actual pickup.
Document retrieval: API users can request, search for, upload, download, print and/or review all of the documents pertaining to the order through tracking number, customer order or other data specific to the shipment.
Automated billing and auditing: The API automates and eases the invoicing process by establishing a single management tool for all carrier invoices and connecting to your accounting system to exchange accounts payable and accounts receivable.
Get On Board with APIs
If 2020 has taught us anything, it is that we must adapt, adjust and be prepared for anything. Technology and digitization of the transportation industry is the future. Implement APIs now and give your company a competitive edge immediately and put yourself in a great position for continued future success.
For more information on the benefits of freight-pricing APIs, reach out to Banyan Technology at email@example.com or download Leveraging APIs in a Dynamic LTL Pricing Environment.