LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global courier management software market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global courier management software market is expected to grow at a CAGR of almost 11% during the forecast period. The increasing need for inventory level management and the movement of goods in real time to minimize the lack-of-stock situations are the major reasons for the growth of the market. Increased product availability and reduced inventory costs are also driving the market growth. Large and small logistics and courier companies are implementing the courier management software to improve their delivery performance while reducing cost, streamlining distribution processes, and providing clear visibility of stock levels, order status, customer trends, and suppliers.
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The top three emerging trends driving the global courier management software market according to Technavio ICT research analysts are:
- Rising demand for integrated courier management solutions
- Growing introduction of courier management mobile apps
- Rising cases of supply chain inefficiencies and need for transparency
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Rising demand for integrated courier management solutions
“End-users prefer vendors that provide integrated and converged software suites as opting for different software may lead to integration issues. Integrated products and software suites from the same vendor have better integration ability and support other functions. The increased complexity of network infrastructure has made integration an important buying criterion,” says Amrita Choudhury, a lead analyst at Technavio for research on enterprise application.
Several vendors are focusing on offering SaaS-based courier management software that is compatible with other applications, including marketing technologies. The number of such players will rise during the forecast period. Because of these factors, the global courier management software market will register rapid growth during the forecast period.
Growing introduction of courier management mobile apps
“The growing use of mobile devices and smartphones for professional purposes is a key trend in the global courier management software market. Courier companies are increasingly focusing on adopting courier management mobile apps as these apps provide them the flexibility to access supplier and customer information on a real-time basis. These apps help courier companies to minimize redundant data entry on delivery receipts, physical inventory checks, and retail evaluations,” adds Amrita.
Courier management mobile apps help courier companies to track outbound and inbound shipments associated with carrier accounts and improve customer services. These apps provide real-time information on package location and delivery confirmation, which increases customer satisfaction and reduces labor costs. The real-time access to the sales information provides increased user efficiency and shorter sales cycles with an improved customer experience.
Rising cases of supply chain inefficiencies and need for transparency
Accurate demand planning by manufacturers and retailers is also another complex task because of inefficiencies such as incorrect data and delayed data flow through the supply chain. Manufacturers can obtain the point of sale data from retailers. However, without the information about stock levels during the inventory transportation, it is not possible to plan for demand accurately.
Organizations need better transparency of orders, inventory, and shipment information. They also require information regarding all inbound and outbound processes. Courier management software provides better visibility and enables end-users to turn raw data into meaningful information using the built-in reporting feature.
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