- Container trading and leasing are integral to the shipping & logistics industry.
- Leasing companies account for more than 50% of all container purchases.
- The global shipping container market was valued at $8.70 billion in 2019 and projected to reach $12.08 billion by 2027.
The shipping and logistics industry has traditionally dealt with voluminous paperwork as part of documentation and approvals needed to ship goods from manufacturers to end-consumers. In the face of the ever-advancing information technology, the time and resources spent dealing with documents and approvals have become outmoded and unproductive, and this applies equally to companies engaged in container sale and leasing.
The IT revolution is transforming the way businesses manage the various processes within their organizations. In the shipping and logistics industry, support functions like container trading & leasing which operate as independent business entities are realizing the need to automate their functions to achieve improved efficiency and higher profits. Container trading and leasing are fundamental to the shipping & logistics process. The shipping industry itself is undergoing a rapid transformation with the aid of the latest information technology and is doing well to stay in tune with the current international trends in digitalization. So it is obvious that container trading and rental businesses must also stay in touch with the current developments in the shipping and logistics industry.The use of information technology is expected to deliver speed, efficiency and transparency in many aspects of the container trading and leasing business.
Let’s look at how container leasing companies can benefit by employing software-enabled processes, maintain a sharper focus on their core functions,yield immense cost benefits and efficiency.
- Complete overview of container procurement, repair & maintenance, sales, sub-leasing, and alerts.
- Achieve complete visibility of a trading company’s container resources worldwide and administer the entire trading cycle through web-based software.
- Practical and handy masters that include currency, tax rate and depot charge.
- Monitor the acquisition process right from container procurement, possession, their availability in the depot, repair & maintenance right till the sale and release of the containers to the buyer or lessee.
- Act as a central system where all data is stored and processes are executed smoothly supporting daily business operations, thus saving time and money.
- Incorporation of organizational structure and hierarchy. Configuration of user responsibility and control access rights.
- Generate emails for dispatching quotes, invoices, release notices.
- Generate purchase orders, quotations, sale invoices, quotations and release orders based on defined formats. Print and export documents.
- Generate Management Information System reports giving a summary of the inventory, profitability, container history, inventory tracking.
- Track container-wise profit & loss at various levels.
- Provision of web portals for the exclusive use of customers, where they can place orders and purchase containers.
- Present repair estimates and approval.
- Data on outstanding payments and receivables.
- Month and region-wise profitability reports.
One of the most important features in some exclusive enterprise solutions for global container trading is the availability of a “customer portal” which gives direct access to prospective buyers with the necessary tools to make apt purchase decisions and collaborate with the supplier.
A bulk of the trading currently happening in containers is manually handled. From a container buyer’s perspective, a correct fit in terms of quality and price is dependent upon personal contacts, industry expertise and internet research skills. But these methods are outdated and not in trend anymore.
Making investments in software solutions can be one of the most important decisions a container trading company can contemplate upon. The growth being witnessed currently in the shipping and logistics industry is directly proportional to the progression in the container trading business because both are inter-dependent.
Using the right software solution to manage global container trading operations, together with one that is also developed and maintained by experienced hands who understand all aspects of the container trading business is the recipe to get miles ahead of the competition. It will be a win-win situation for both – the container trading companies and their valued customers.
iInterchange Systems is a specialist software solution provider for the Container Shipping and Logistics industry worldwide. To know more about the trading software from iInterchange visit https://www.iinterchange.com/container-trading-software/