A TMS system, otherwise known as a Transportation Management System, is a digital solution that enterprises, shippers, brokers, and carriers rely on to effectively manage their transportation and logistics operations. It’s designed to make your life easier. The best TMS systems not only organize your transportation data into a centralized database but also help you:
- Optimize freight routes
- Forecast network needs to stay one step ahead in planning
- Manage drivers
- Systematically process invoices, payments, and settlements
- Track shipments with forensic detail
- Streamline load booking and tendering processes
- Accurately report on KPIs
For carriers and brokers, the choice is simple. With the best TMS system in place, you gain greater visibility into the daily operations of your business and can more precisely monitor overall network performance. As an all-in-one logistics platform, a TMS utilizes advanced technology to aid businesses in planning, executing, and optimizing freight transport — both incoming and outgoing.
What does TMS software do?
Transportation Management Systems are mainly used by companies that transport goods on a consistent basis. Thanks to its many benefits, TMS is often used as part of a broader supply chain management (SCM) system. In addition to providing enhanced visibility into your daily transportation operations, the best TMS assists with compliance matters, ensuring the right documentation is always available. It also proves incredibly useful for automating essential back-office tasks, freeing time that could be spent looking for new freight. Taken together, all of these features can improve efficiency, empowering businesses to scale effectively.
Why do brokers use TMS Software?
Brokers and carriers rely on different kinds of TMS software because each faces different operational needs.
The best broker TMS software takes care of the little things before they become big things. These days, freight brokers use TMS software for a host of reasons. Whether it’s streamlining workflows, increasing deals, eliminating redundancies, unlocking operational efficiencies, or anything else that helps their business move forward, the best broker TMS, like DAT Broker TMS, will help a brokerage work smarter and grow faster. Within a single integrated management system that’s purposed specifically for brokers, a top quality broker TMS software can help brokers with:
- Business Management – By combining a broker’s accounting and operational systems into a single digital architecture, broker TMS software removes needless steps in your workflows that only slow a brokerage down. In short, Broker TMS keeps logistics running smoothly and brokerages firing on all cylinders.
- Lane Visibility & Load Tracking – Brokers can take advantage of DAT’s integrated analytics on loads, miles, margins, and prices to drive their businesses forward. Brokers can leverage a combination of real-time insights and historical data available on DAT to expand their lane networks and stay ahead of the competition. Plus, by pairing DAT Broker TMS with DAT OnTime, brokers can track the real-time location and status of their loads for as little as $1 per load, and keep lines of communication with their customers and carriers open at all times.
- Accounting – DAT Broker TMS comes with a full-service, centralized accounting system that makes brokers’ back-offices run smoother. Account Receivables features enable brokers to seamlessly collect, track, and process invoices, while DAT’s operations integrations populate broker carrier settlements automatically. The tool’s general ledger gives brokers full visibility into their finances, while real-time expense reports and intuitive profitability charts help brokers optimize financial performance.
- Intelligent Document Imaging/Processing – A hallmark feature of DAT Broker TMS is its document management capabilities. By digitizing their paperwork with the software, brokers can reduce their back-office burden. DAT’s cutting-edge digital imaging makes it easy to store, tag, and retrieve documents online. Billing, printing, and even emailing become automated once brokers scan their documents into DAT Broker TMS. Even better, the system saves brokers time by automatically extracting invoices with all the relevant paperwork!
- Integration with load boards – With DAT Broker TMS, brokers can seamlessly integrate their DAT load board right into their TMS software. That way they can unify their essential systems, making it easier to find great carriers and simplify their paperwork at the same time.
Why do carriers use TMS software?
The answer is simple: TMS software makes your life easier. Investing in the best TMS software is one of the best ways carriers can save time, stay ahead of the competition, and overcome routine supply chain roadblocks. In fact, nowadays, carriers are increasingly discovering TMS software to be less of a luxury and more of a necessity for a successful business.
Some of the key benefits of using TMS software for carriers include help with:
- Load planning – A TMS system will assist carriers at every stage of the freight journey. The best TMS systems make it easier for carriers to identify the best rates and plan the most efficient routes, meaning they can find loads more quickly and move high-quality freight more effectively from point A to B. By leveraging complex algorithms, a TMS system saves carriers time on both the front end and back end.
- Freight tracking – Carriers often must stay on top of a lot of different freight, sometimes even needing to give updates to key players on the status of their loads. Manually tracking freight is challenging at best, requiring frequent phone calls to drivers. With a TMS, freight tracking is simplified. The system will take care of tracking for you, collecting and consolidating comprehensive data that allows carriers to always stay abreast of their freight’s movements without having to waste their and their drivers’ time with check-ins.
- Payment – Part of the beauty of TMS software is its back-office automation. When people start a freight business, they often don’t realize just how much has to happen behind the scenes for the business to succeed. Managing payments is a big part of that. Carriers, using a TMS, benefit from a streamlined payment process where they can automatically receive invoice payment for each transported load. Carriers can also view important financial metrics – including invoices, payments, freight audits, and advanced analytics — to monitor performance and better understand their business.
- Reporting – TMS software delivers performance insights that help carriers plan ahead with confidence. In-depth and actionable reporting on local loads, facilities, and larger freight networks means carriers can optimize their operational efficiencies. The best TMS systems provide exclusive insights that help carriers hone best practices, cut costs, and maximize bottom-line profits.
The bottom line is that the best TMS systems are all-in-one solutions that simplify freight logistics, win you the most valuable nearby loads, and automate tasks that once limited your operational capacity.
Why Choose DAT Broker TMS for Your Freight Brokerage?
In the competitive landscape of freight brokerage, efficiency and streamlined operations are paramount to success. That’s where DAT Broker TMS shines. Here’s why choosing DAT Broker TMS can transform your business:
- Tailored for Freight Brokers – Broker TMS is purpose-built for freight brokers, designed to alleviate the burdens of manual processes and administrative tasks. With this system, you can focus on growing your business rather than managing your back office.
- Integrated Operations – Streamline your operations with a comprehensive, all-in-one system. From accounting to load board management, tracking, document imaging, and more, all your essential tools are seamlessly integrated into a single platform.
- Increased Efficiency – Move more freight with fewer resources. DAT Broker TMS eliminates redundant tasks, automates processes, and provides tools to boost your profitability. By streamlining operations, you can optimize resource allocation and maximize productivity.
- Operational Consolidation – Combine your operations and accounting functions within a single system to eliminate duplicate efforts and minimize errors. This consolidation enhances efficiency and ensures data consistency across your organization.
- Integrated Load Board Tools – Access integrated load board tools to search your internal carrier database or post directly to load board subscriptions. This feature streamlines the process of finding available carriers and securing capacity for your shipments.
- Empowered Operations – Easily enter loads, calculate miles, and analyze pricing and margins with integrated analytics. DAT Broker TMS empowers you to make informed decisions and optimize your operations for maximum profitability.
- Carrier Qualification and Monitoring – Quickly verify carriers and receive real-time location updates with add-on tools. Ensure compliance and mitigate risks by effectively qualifying and monitoring carriers within the system.
- Enhanced Payment Processing – Benefit from integrated payment processing solutions to extend your cash flow, accelerate carrier payments, and streamline ACH automation. With OTR Solutions integration, you can streamline your financial processes and improve cash flow management.
- Effortless Communication – Seamlessly exchange data with customers using built-in data exchange tools. Avoid the need to re-type information from shippers, ensuring accurate and efficient communication throughout the supply chain.
- Comprehensive Accounting System – Enjoy the convenience of a full-featured accounting system tailored specifically for transportation intermediaries. Manage invoices, track payments, and view finances in real time to maintain financial visibility and control.
- Document Management – Digitize your paperwork and reduce paperwork headaches with easy-to-use document imaging features. Store, label, and retrieve documents effortlessly, improving organization and accessibility.
- Scalable Capabilities – As your business grows, expand your capabilities with additional modules and features offered by Broker TMS. From load board integration to CRM sales modules and multi-modal capabilities, adapt the system to meet your evolving needs.
In conclusion, DAT Broker TMS offers a comprehensive solution tailored to the unique requirements of freight brokers. With its integrated features, efficiency enhancements, and scalability, it’s the ideal choice for powering your brokerage operations into the future.
Empower Your Brokerage with DAT Broker TMS
Grow your business, not your back office, with DAT Broker TMS. Streamline your operations, improve efficiency, and boost profitability with the comprehensive features tailored specifically for freight brokers. Schedule a demo today to see how DAT Broker TMS can transform your brokerage operations and help you achieve your business goals.
