The market research department aims to make G2 the first place buyers go for logistics software. To make this possible, we are undertaking a widescale effort of cleaning at least six categories, speaking with market leaders in the supply chain software business, and creating three new categories.

In alignment with this goal, G2 has officially launched the Load Boarding and Shipping Insurance software categories to better differentiate the supply chain categories and reflect B2B SaaS trends emerging from the COVID-19 pandemic.

Load boarding and shipping insurance show a shift toward risk aversion and efficient transportation 

A recurrent theme throughout my thought leadership pieces, particularly in the 2022 Market Trends piece, is supply chain professionals’ shift toward risk aversion in their logistics strategies. 

Differing COVID-19 policies across countries, trade wars between the United States and China, and the Russian-Ukrainian war spelled chaos for international transportation and trading. As such, companies are trying to minimize risk and optimize transportation models more than ever. 

Shipping insurance software gives businesses and customers peace of mind

A form of risk aversion that many companies have adopted is offering customers the option to purchase shipping insurance. Shipping insurance provides an opportunity for companies to offset risk onto the consumer. This buffer results in fewer complications when issues arise during shipping and, on the contrary, helps businesses increase their profit margins.

Here's a user review about Route, a shipping insurance product, that demonstrates this value.

Shipping insurance software provides portals for the insuree to file claims for lost, damaged, or stolen products. It also provides claims tracking modules and opportunities to connect directly with customer service representatives. Dashboards and analytics tools then allow companies to assess shipping performance based on how frequently shipping insurance is actually used, as well as to report on customer satisfaction with claims resolutions. Shipping insurance software can also be used for B2B clients. For example, a company outsourcing transportation to a third-party logistics provider may add cargo insurance to its loads.

Load boarding software helps execute efficient transportation models

The movement and booking of loads is a crucial arm of the transportation model, as was evidenced during our redefinition of the transportation management systems (TMS) category. However, load boarding software, also known as freight matching software, is distinct from TMS in that it solely focuses on booking truckloads versus managing the entire transportation process. 

Load boarding software is, in essence, a dating app for shippers and carriers. This tool uses predictive analytics to suggest matches between carriers and shippers in a private marketplace. Once a load is booked to a truck, the software provides tracking and visibility, carrier performance measures, and route optimization features. Through implementing load boarding software, shippers can re-book high-performing carriers and save money by selecting the most cost-effective route.

G2’s supply chain taxonomy is adapting to changes in the market

This category announcement is but one facet of G2’s revamp of the supply chain categories. Through continuous feedback and conversations with vendors starting May 2022, the market research department is undertaking a widespread effort of building out category definitions, fine-tuning categories to be sufficiently distinct from one another, and adding categories that represent paradigm shifts in the logistics business as a result of COVID-19 and the Russian-Ukrainian war. 

Stay tuned over the next few months as we unveil more extensive changes and announce new categories!

Edited by Jigmee Bhutia