Logistics management software is a dire need today in the fast-changing global supply chains for companies. Logistics service providers need to keep pace with real time supply chain visibility to manage third party logistics, transporters, freight carriers, and overall operations. Logistics management automation is growing owing to the ecommerce driven market demand. The on-demand delivery services for day-to-day needs are driving the push for logistics automation like never before.

The operations of logistics providers and transporters are driven by digital systems with greater efficiency and control. It is helping them integrate their business applications, map real-time freight positioning and solve logistics issues. Logistics automation is helping companies create visibility in operations, manage billing, accounting, freight delivery, inventory, and expand the business using technology to reach more customers, here’s how: 

1. Transportation Logistics

The transportation logistics segment connects the suppliers, vendors, and customer of a company. Logistics service providers can manage their supply chain, track real-time delivery of products, increase customer satisfaction & profit margin.

The use of technology for transportation, logistics and supply chain uncovers operational efficiencies as well as new business models. For e.g. logistics companies are providing same-day delivery services to ecommerce companies and their customers. The value chain optimization is creating win-win opportunities for everyone in the ecosystem. 

2. Warehouse Efficiency

The warehouse management engulfs the tracking of goods, inventory position, dispatch, returns management and delivery of items. All these processes are managed effectively using automation. Every process from the time a new item is checked in to the point it is checked out of the warehouse can be managed with software.

The logistics management software helps organisations manage their warehouse space efficiently. Using algorithms and data science, the placement of items can be optimized for frequently sold items. The space can be managed to provide greater ROI for organisations.

3. Freight Distribution

The logistics software can help organisations manage their freight distribution, the supply chain operations for delivering items to their customers. Once the customer order is received, the item can be delivered from origin to destination using logistics software. The whole process can be managed efficiently using automation.

The GPS tracking features help organizations to see the position of their dispatched goods real time. The software can also note parameters like delivery time, loading time and quality of items etc.

4. Drivers or Transporters

The logistics service providers can track the details of drivers on their platform. Once the goods are ready to be despatched to the customers, the available drivers or transporters in an originating station are chosen. The automatic order dispatch algorithm fetches the nearest drivers for the order-pickup. Kreyon’s driver app helps drivers obtain an electronic receipt of items shipped to the destination. The driver can take photos of the shipped items and quantity of items along with delivery details.

The driver or transporters app ensures that the items are delivered timely and greater accuracy. The drivers get preconfigured alerts for delivery, route maps and dispatch of goods. The dispatch and delivery details of the items are automatically updated on the logistics management software.

5. Cost Center

The logistics and shipping of items involves billing for items, fuel costs, driver costs, and tracking all other miscellaneous delivery costs. The cost center helps logistics providers manage all costs, tax receipts and compliance reports using the software. The consumption of items, fuel usage, inventory costs can be analyzed using the cost control feature.

Organizations can improve their budgeting and shipping costs analysis using logistics automation. The billing and receipts management also serves the purpose of audits and financial management.

6. Contactless Delivery
With the logistics software, the customers can feel the power of contactless delivery automation. They can order products any time any place and get it delivered to their doorstep. The contactless delivery automation is at work in the background.

The movement of goods and items from various suppliers to the customers can be managed transparently using logistics software. Logistics automation helps in proactive supply chain management to improve customer experience by reducing turnaround time and better quality of items being delivered to them. 

7. Multi-Location Distribution Channels

The logistics management software can be used to manage deliveries at across locations with ease. The back-end infrastructure and SaaS model give logistics service companies the framework for managing operations smoothly.

The delivery and distribution can be improved using technology as a driver. The goods and items can be delivered the same day using hyper location and choosing the nearest transporters on the platform. The performance management of suppliers, delivery time and quality parameters are incentivized leading to greater customer satisfaction levels. The distribution channels and locations can be scaled with ease using logistics automation.

8. Live Statistics 

The logistics management software can be used to stream live data from all devices, inventory, warehouses, vendors, suppliers, live locations of vehicles/drivers. The logistics companies can use the platform to manage their operations.

The delivery time, pending orders, live delivery routes, customer receipts, locations and etc. are constantly updated with data coming from geolocations feeds. The management can track all shipment information as and when they need. The live dashboard increases the visibility of every element in the supply chain for logistics companies.

9. Financial Integration 

The logistics management software needs to be integrated with the financial and accounting data. When financial transactions are done and recorded in logistics management software, they need to update general ledger, account receivables, account payables, profit & loss, balance sheets reports etc.

The bookkeeping transactions can be categorized and imported for financial reporting. All the financial transactions done for the logistics management should be automatically synced to the financial reports. Further, the inventory items need to be updated with every item that enters or leaves the company. The accuracy of inventory can have a major impact on financials and taxation. Good logistics automation takes care of all the financial integration and reporting for a company.

Kreyon Systems provides warehouse & logistics management software with innovations for bottomline impact. If you have any queries for us or need assistance, please get in touch.

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1. Digitize Expenses

As a business owner, you are required to maintain documentation for the expenses incurred in your business. While online and digital payments create an automatic record, businesses can also do well to keep all receipts in their records. The receipts and bills can be scanned using tools like Genius scan.

All expenses and bills can be organized digitally according to date and relevant details. This can be uploaded in your bookkeeping software. The online accounting tools are also capable of reading the hard copy of your expenses and bill receipts with automated scanning features. This will reduce your overhead of entering the bills and details to save time.

Once all your expenses are recorded, you can reconcile the bills received and payments made. This can be done by your bookkeeping software to give you a tab of your pending payments to vendors and purchases etc. For contractor payments & other purchases, you may be required to file the taxes too. An online bookkeeping software will help you make tax  payments and provide tax receipts to vendors & contractors.

2. Bank Sync

Many businesses operate with more than one bank account. Integrating and synching all your bank accounts with a bookkeeping software will help you get all your data at one place. Accounts can be reconciled with as on date bank statements and descriptions. The digital bookkeeping allows a company to reconcile all statements as per banking transactions done in a given time period.

The online accounting softwares are typically equipped with bulk uploads as well as integration options to fetch bank statements automatically. These statements can then be classified, reconciled and recorded in the accounts. All bank accounts need to be reconciled to prepare the accounting statements for the company.

The direct integration of bank accounts with digital bookkeeping software allows it to fetch and sync transactions directly with any manual inputs. Once the transactions are reconciled, you can classify them or change them as per your needs.

3. Online Tax Calendar

The IRS provides options for an online tax calendar for various businesses and self-employed. When you avail digital bookkeeping services, you can avoid penalties, late filings and legal notices for your business. The online accounting software provides options for automated reminders to e-file your taxes on time.

By outsourcing accounting and tax compliance, your business can save a lot of time, costs and overall efficiency in administration. The digital bookkeeping services take care of all compliances for a business to meet its regulatory needs on time. Digital bookkeeping software can also provide management reports on business performance with real time data.

The online software allows you to get all your financial information for your business. You can view the information by week, month, quarter, year or any specific time frame. These reports also provide you a break-up of all the incomes, expenses & taxes due for payment as per the IRS tax calendar.

4. Set-up Employment, Wage & Contractor Reporting

As a business, you need to take set-up the payroll for your employees and look at the compliance requirements for the wage reporting. The state and federal taxes can be taken care of with a bookkeeping software. The taxes and set-up details can be configured as per the business set-up. There are also requirements for minimum wages as per state laws etc. that businesses can automate.

The employee taxes can be deducted and paid to the government through online services integrated to the bookkeeping software. The e-filing forms for 940, 941 or 944 etc. can also be done with the help of the online software. Companies can also set-up vendor and contractor payments on their accounting software. The payments to vendors, taxes paid to the government, receipts, forms for withheld taxes etc. can be automated with online bookkeeping softwares.

5. e-File Taxes 

The IRS site provides e-filing facilities for businesses and individuals. Businesses can calculate the taxes using online services from the IRS. The bookkeeping software can be used for e-filing the taxes. The digital bookkeeping software can prepare the accounting statements for various businesses as per the IRS classification below:

Business Types

Sole Proprietorship
Someone who owns an unincorporated business by themselves.

Partnership
A relationship existing between two or more persons who join to carry on a trade or business.

International Business
Foreign businesses with activities in the U.S. or domestic businesses with activities outside the U.S.

Corporation
A legal entity that is separate and distinct from its owners.

S Corporation
Corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.

Limited Liability Company or LLC
A corporate structure whereby the members of the company cannot be held personally liable for the company’s debts or liabilities.

The digital bookkeeping provides inputs on how to optimise taxes based on business types. For e.g. in many cases it makes more sense for a self-employed business to register as an S Corporation to reduce the tax outgo. The digital bookkeeping software can prepare all the required steps for filing taxes with the IRS as per the applicable business criterion.

An online software and managed services that help businesses with end to end compliance reporting have become an integral need. Companies can leverage digital bookkeeping services for accounting, payroll and compliance reporting, while they can focus on their core business.

The post 5 Ways to Manage Your Business Like a pro with Digital Bookkeeping appeared first on Kreyon Systems | Blog | Software Company | Software Development | Software Design.