Many companies spend countless hours trying to accurately process and pay a seemingly endless stack of freight invoices. In today’s economic environment, it’s more critical than ever to make sure all invoices have the correct amounts and items. Since this takes so much time and focus to uncover and correct errors, many shippers are looking for easier ways to handle their freight bill payment and audit processes.
With the technology, processes and supply chain consulting expertise to deliver deep analytics based on the shipper’s own data, third-party logistics service providers can deliver valuable insights, quickly and clearly, so that the results can be factored into tactical and strategic decision-making.
Although periodic reports are currently most common, real-time reporting is a growing trend. With online access to key performance indicators and a host of other variables, shippers can identify issues, evaluate costs, review historic data, plan negotiations, understand discrepancies and make well-informed decisions on virtually any aspect of the supply chain.
The best freight payment and audit service providers present their findings in consolidated formats that resolve differences in currencies, units of measure, invoice numbers, bill of ladings and other variables. Working with a provider that brings an integrated solution that incorporates business intelligence reporting allows businesses to dig deep into the information to gain insights for game-changing decisions.
What are the benefits?
Many shippers see an immediate return on investment. Not only are costs recovered from the audit process, but also administrative time is cut to a minimum, giving them more time to focus on other areas of the business.
Transportation Insight eliminates the time-consuming processes of freight bill audit and payment for clients by tracking payments, shipments and claims. Our bundled Enterprise Logistics solution integrates freight bill payment and audit, transportation management, carrier sourcing and business intelligence reporting to find bottom line value for clients from end-to-end. Discrepancies and errors are typically found each month for clients, adding dollars to their bottom line, along with additional time to focus on their core competencies.