4 Must-Haves for Freight Claims Management Software

Freight Claims Management Software Checklist

The freight transportation industry experienced massive demand growth as the pandemic became synonymous with the new normal. The unpredictability of e-commerce and continuing disruptions make it difficult for shippers to steer clear of risk, including freight damage claims. As a result, now is an ideal time to start thinking about freight claims management software and how it might help reduce your total overhead costs.

According to eMarketer, global retail e-commerce is finally on track to stabilize in 2022, forming 21.5% of total retail by 2023. That’s a decline in more than 50% growth rates compared to 2019. Such stabilization means shippers can finally prioritize other needs, moving more freight and ensuring all freight arrives on time, in total, and free from damage.

Avoiding all freight claims is nearly impossible, and there’s still massive uncertainty in the market. Freight claims management software provides significant value in monitoring and preventing claims for freight damage or other reasons.

Here are four primary features that should be part of your freight claims software platform and their significance in end-to-end claims management.

1. Analytics to Understand Freight Claims Data
Freight claims data is vital to understanding why freight claims are occurring, what modes tend to be affected, and how to avoid them in the future. Freight claims information helps identify issues before they become a problem, improving freight claim management and reducing the number of freight claims paid out. These benefits all rely on analytics to understand the health of your transportation network.
Freight claims analytics afford insight through metrics and graphs that track freight losses over time. This information helps identify problem areas and helps freight claim management become more proactive in preventing claims causes.
2. Easy-to-Use Freight Claims Management Software Features
A freight claims management software is a web-based application that helps freight carriers and freight brokers manage freight claims. The software allows users to submit freight claims, track the status of freight claims, and print freight claim forms.
The freight claims software must be designed to be user-friendly and easy to navigate. This includes integration with the TMS to aggregate all claims data, such as the delivery receipt, bill of lading, and evidence of damage. A repository of information gathered across your network allows you to track what damage is occurring, which carriers are responsible, and when to use one carrier over another to reduce the risk.
Users need software to generate emails to carriers and enable turnkey claims fillings. Not all freight claims management software is created equal, and users need to ensure that their software meets all their needs on day one.
3. Universal Carrier Acceptance of Freight Claims Filed
Part of the freight damage claim process challenge comes from limited carrier acceptance. If a carrier doesn’t accept claims through your chosen software, it limits your ability to file claims. Also, freight claims software should be designed to work with your freight management software.
This is important. The freight management software, e.g., the MercuryGate TMS, already contains information on your freight shipment, including the bill of ladings, waybills, and other associated documentation. With this, the freight claim management software helps you identify a freight claim quickly and easily, then automate much of the filing process.
4. A Free Trial of the Freight Claims Management Software
When looking for freight claims management software, it’s crucial to find a solution that offers a free trial. This allows users to try out the software and see if it’s the right fit for your business. Freight claims software helps you streamline the freight claims process and make it easier to manage your claims. A free trial helps ensure the software is a value add – not a detractor.
Further, a free trial should demonstrate the full functionality of the freight claims management software and allow users to experience all features in one solution. For instance, a 30-day free trial of MercuryMyEZClaim is readily available upon request.

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MercuryGate successfully processed 645,000+ claims in 2021 across 7,500 active users, valued at $1.4 billion. And we can help streamline your freight claims management to save time and reduce costs.

Learn more about how MercuryGate’s freight claims management software works and how it delivers everything your company needs from a world-class system. Download the e-book, “Freight Claim Software Checklist,” today. 

Download the Freight Claims Management Software Checklist E-Book

Pete Celestina

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