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Market Research Report

European Freight Cost Management Market, Forecast to 2025

Published by Frost & Sullivan Product code 906138
Published Content info 53 Pages
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European Freight Cost Management Market, Forecast to 2025
Published: July 31, 2019 Content info: 53 Pages
Description

Analysis of freight audit and payment service solutions aiding cost saving opportunities for enterprises with enhanced supply chain visibility

The European logistics industry is considered to be an early adopter of technologies and innovative solutions. With the emergence of the digital environment, traditional services are increasingly being replaced with innovative logistics solutions driven by digital technologies. Accordingly, the region's focus on freight audit and payment process automation continues to increase. Being a matured economy, shippers in the region tend to move goods in hundreds of trade lanes, origins, and destinations with hundreds of carriers or logistics service partners covering Far East, North America, Oceania, and South America. In today's transportation and logistics industry, freight rates and pricing mechanisms for different modes of transport are becoming increasingly complex. Carriers failing to meet service requirements with invoice mistakes makes shippers vulnerable to hidden charges, resulting in overpay for poor freight service. Freight audit billing has thus become a critical function for companies with high-volume shipping on a global scale. Whilst certain companies perform internal audit with their own resources, some outsource it to third-party service providers.

For companies with a significant number of freight invoices to process, building their own freight audit department with in-house tools demands investment, time, and subject matter and IT expertise. As with many companies, their process expertise stops once the checkpoint goes beyond their shipping door, and efforts to increase expertise in freight audit and invoice steer away from their focus on their core business model. A freight cost management platform enables shippers to collaborate with suitable carriers based on negotiated contracts at best price points for the shipment requirement. Automation of the freight invoice audit and payment process with a freight cost management tool helps shippers in analysing carrier service level agreements for compliance, inspection and validation of shipment documentation, and pre-audit of invoice for ensuring compliance with business intelligence reports to benchmark service providers.

This study sheds light on the current European freight cost management market size and analyses its future prospects till 2025, highlighting the key participants and their respective market shares. It throws light on the future prospects for freight cost management in terms of its capability to overcome the existing challenges faced by both shippers and carriers in processing freight invoice, facilitating expedited payment. It also covers the regulatory factors that impact the European freight cost management market and the key parameters for shippers in selecting a freight cost management service provider. This study also identifies the digital technologies disrupting freight cost management and covers the pricing structure with the current set of vendors in the region (assessing their opportunities with small and medium enterprises as well as the advantages of outsourcing freight cost management to third-party service providers over having an in-house department).

Table of Contents
Product Code: MEC5

Table of Contents

Executive Summary

  • Key Insights-European Freight Cost Management Market
  • European FCM Market Snapshot
  • FCM Market Evolution
  • Cost Reduction Levers
  • Blockchain-powered Smart Contracts for FCM

Research Scope, Objectives, Background, and Methodology

  • Research Scope
  • Research Aims and Objectives
  • Key Questions this Study will Answer
  • Research Background
  • Research Methodology

Definitions

  • Market Definitions

Market Overview

  • Transportation Management System-Process Life Cycle
  • Freight Cost Management-Process Life Cycle
  • Key Market Challenges-Shippers vs. Carriers
  • Regulations and Mandates
  • Key Parameters for FCM Vendor Selection
  • Digital Technologies Disrupting Freight Cost Management
  • Blockchain for Freight Cost Management
  • Factors Impacting Freight Cost Management
  • Future Freight Cost Management Service Focus

Pricing and Business Model Analysis

  • Pricing Structure-Freight Cost Management Service
  • Business Models

Market Measurements and Market Share Analysis

  • Market Size and Forecast
  • Market Share Analysis
  • In-house vs. Outsourced

Growth Opportunities and Companies to Action

  • Growth Opportunity-Collaboration and Value Addition
  • Strategic Imperatives for FCM Providers

Conclusions and Future Outlook-European FCM Market

  • The Last Word-3 Big Predictions
  • Legal Disclaimer

Appendix

  • Abbreviations and Acronyms Used
  • List of Exhibits
  • List of Exhibits (continued)

The Frost & Sullivan Story

  • The Frost & Sullivan Story
  • Value Proposition-Future of Your Company & Career
  • Global Perspective
  • Industry Convergence
  • 360° Research Perspective
  • Implementation Excellence
  • Our Blue Ocean Strategy
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