Container trading and rental are vital components of the shipping and logistics industry.
The global container leasing market was valued at USD 5.2 billion and is expected to touch USD 7.1 billion by 2026, growing at a CAGR of 17%.
Leasing companies account for over 50% of all container purchases.
In any business arena, the reputation that a company enjoys is only as good as the promise it “fulfils”, and not the promise that it “makes”. In the case of logistics companies, how well they manage their assets is a critical element in their success. This is particularly true when such assets involve the company’s principal holdings that are rented out for a fee and forms the bulk of their revenue. In a world that’s moving fast, customers look for dealers who maintain good quality stock and who can respond quickly to their needs.
Exceptional customer experience is the essence of a successful business enterprise, where the application of precision software solutions to manage assets that bring returns is of principal importance. Knowing what is in demand, in stock, its location and the method to track it plays a crucial role in the ability of a business to promptly respond to customer demands. The current focus on superior customer experience is leading businesses to put trust in software tools to gain control, heighten efficiency, and enhance profitability in all aspects of their activities. Clerical errors and slow-paced work processes cost organizations higher than what they can essentially figure out, and this is where the right software solutions come in to the scenario. If the fate of your rented assets is unpredictable because of delays and inefficiencies from outmoded work procedures, in all likelihood, such method of working is severely pinching the bottom line of your business.
Businesses engaged in shipping container trading and rental can benefit from all-inclusive web-based solutions to manage their global operations. Such solutions cover all functionalities in container trading – from procurement, maintenance, repositioning to sales. This means that when a customer asks about the availability of containers on rent, the trading firm will have a ready answer to offer and win instant trust. The ability to provide accurate details about the equipment helps build trust in your relationships with customers, leading to repeat business opportunities. Software solutions mitigate challenges associated with shipping container trading operations by keeping track of service requests, locating your containers at any site and keeping a vigil on the status of your entire asset.
We now look at how container trading companies can derive benefits by employing software-enabled processes and maintain a focused attention on core functions, yield higher returns and profitability:
- Feed in details of business partners such as depots, customers, vendors.
- Capture storage and handling charges.
- Feed in tax rates and currency conversion rates.
- Configure user roles and regulate access rights.
- Configure various levels of geographic locations.
- Set up multiple company codes to segregate business activities between various entities of the company.
- Procure containers by unit number, in series or in bulk, with upload option.
- Generate purchase orders.
- Capture procurement invoices and record payments made.
- Capture repair estimates, repair approval and repair completion.
- Offer procured containers to customers by unit number or in bulk.
- Generate sales invoice.
- Put out “Release Authorizations” to customers and depot.
- Offer containers to customer in bulk, prior to procurement.
- Release available containers in bulk, after they are possessed, with the option of performing a “Depot Sale” or a “Gate Sale”.
iInterchange Systems is a chosen software solutions provider for container depots and ocean carriers. When you choose a solution from iInterchange, you are creating a relationship with a company that understands your present and future needs. They are an empowered and well-motivated team, supported by well-defined globally certified processes revolving around the core virtues of integrity and excellence.
iTrade from iInterchange is a web-based container trading software solution for enterprises that are in the business of container trading and rental. iTrade manages the entire trading cycle and provides a complete visibility of your assets worldwide. It comprises Container Procurement, Maintenance, Repositioning, Sales, Sub-leasing Rental, Alerts and Reports.
How about beginning a conversation on implementing a complete container leasing solution package for your company that complements your company’s ongoing success while also growing your business along the way?
We have sourced facts and figures for this blog from the internet.