Freight invoice auditing software

Across every mode of transportation, invoice errors that would otherwise go undetected are identified for harddollar savings. Freitrater is highly customizable, enterprise class rating and auditing software. Line item invoice auditing and carrier contract optimization is specialized work that requires expertise and persistence. Auditing your parcel and freight shipping invoices can save your company money and support carrier contract negotiations. Youll reduce your costs by automating the audit and payment of your inbound and outbound truckload, ltl, parcel shipment and airfreight bills. The process begins when the shipping invoice is received either manually or through edi electronic data interchange. Companies need to find those freight audit and pay companies that will. Jun 20, 2018 options for freight bill audit and pay. Parcel shipping makes up a major portion of the total transportation and shipping industry, and the volume of parcel invoices coming into even small shippers. The first option of manual matching is tedious and the cost of auditing a freight invoice rise with the number of freight invoice proportionally. Our company has made the commitment to the latest freight invoice auditing and payment technology to ensure the most complete and accurate audit.

While the advancements in technology primarily revolve around the automation of freight invoice auditing, the possible use cases for auditing to benefit the supply chain continue to grow. Parcel invoice auditing software is paramount in logistics technology. Utilizing our 60 years of experience in the freight auditing industry, traffic pro offers the most comprehensive software solution available today. And with the right software, it does not have to be a complicated or timeconsuming task. Market research shows that as much as 70 percent of all invoice. How freight audit software can help companies xeneta. Auditing bills, gaining transparency to your data these are absolutely vital for managing freight costs.

Freight auditing software freight cost analysis services. The traffic pro freight auditing and payment software is a state of the art inhouse system that streamlines the audit process. We audit small parcel invoices for refunds due, while providing total visibility into your small parcel spend with fedex, ups, dhl. To begin to replicate the services provided by companies, software must offer the following capabilities. The 2nd option of buying packaged software allows the. And if they are auditing, it is often a manual process on spreadsheets that is highly inefficient. Advanced reporting and project management software is used to. Freight audit and pay is a complex process because of transaction volume and amount of paperwork required to validate the bill. However, due to the desire to maintain control of the process, some shippers would rather not outsource this function. How to choose the right freight auditing software for your. Trends in automation of freight audit payments gep.

This informs the shippers about the actual costs of the consignment on which the freight invoices are based. Freight is a key part of most companies transportation expense. Jul 18, 2018 some 36 % of laggards claimed the ocean freight auditing software was too expensive or too difficult for them to implement, thus they lacked a centralized program that allowed them to recognize, or even find, the data necessary to negotiate competitive freight contracts. Companies that process a high volume of freight transportation bills and invoices without auditing them for accuracy are likely overpaying a significant amount of money without knowing it. Freight invoice auditing trends will continue to look for opportunities for improvement through technology. How to justify the cost of a tms by automating freight audit. We find that effective auditing of your shipping and freight invoices can get you as much as 15% back in. As a concept, freight invoice auditing is simple to understand.

For freight and parcel shippers, the measure of the right auditing and payment software is how well it emulates the services of the successful auditing and payment service companies. For this reason, many shippers are adopting innovative strategies for auditing their freight payments, including the use of freight invoice auditing software. Auditing freight bills, before payment, is essential in controlling costs and ensure that rates, along with numerous other factors, are accurately applied. Freight auditing software that ensures you dont overpay. Along with ensuring freight bills are accurate and reflect contracted termsa key capabilityfreight payment and audit. While the advancements in technology primarily revolve around the automation of freight. Pacejet freight auditing software helps you reduce shipping costs and eliminate carrier invoicing mistakes by matching the detail in carrier invoices to your actual shipping records.

Using innovative technology, our experienced team will deliver maximum cost savings by ensuring each carrier invoice is correct. Salary estimates are based on 12,216 salaries submitted anonymously to glassdoor by freight auditor employees. Top 10 freight audit and payment solution companies 2017. Pricing and roi freight bill audit and invoice management services small parcel audit, small parcel rate negotiation, freight bill audit, freight invoice software, logistics bill audit, freight auditing removes errors, fraud and service failures from fedex, ups, purolator, conway, and dhl billing. It should be clear that a sound strategy is a priority when it comes to freight auditing and payment. Freight bill audit and pay fbap is an essential component of any business that sells products, yet an astonishing 25% of companies do not.

Freight invoice verification and audit invoice verification and audit ensures that the client is only paying for the services which it actually receives in alignment with agreed rate agreements. These can be detected and recovered though ups and fedex. Find the best parcel audit software for your business. Freight audit freight payment national traffic service. A freight audit is a process of accurately investigating freight invoices through examination of freight records, adjustment, and verification of freight bills. Shipwares invoice audit software shipwares proprietary parcel invoice auditing technology provides our partners with the deepest billing insight in the industry.

The 2nd option of buying packaged software allows the company to save time and resources in the invoice processing but the company will need to invest in the training of the staff and system. We conduct a full audit of all your freight bills to find unnecessary accessorial charges and reconcile any differences. Problems with manual and internal parcel invoice auditing. Freight audit services for max global logistics expenditure. Traffic pro freight auditing and payment software nts.

Our company has made the commitment to the latest freight invoice auditing and payment technology to ensure the most complete and accurate audit possible. The idea is to make sure you only pay the shipping charges you should, and nothing more. We find that effective auditing of your shipping and freight invoices can get you as much as 15% back in refunds. With the right auditing tool, the process becomes efficient and accurate. Are lcl shipments combined into the invoice, for lower fcl rates. For more than 60 years, freight and parcel shippers have used service companies to audit their shipping invoices and to make accurate payments to their carriers. Auditing freight bills, before payment, is essential in. This only represents a fraction of how auditing software can improve your bottom line, so you need to. Salary estimates are based on 12,216 salaries submitted anonymously to glassdoor. Audit savings are achieved through the elimination of overcharges and duplicate payments. A robust freight audit software can help you identify consolidation opportunities and trim costs by making smarter transportation decisions. Controlpay provides freight audit services via its fully webbased robust audit platform. Receive the industrys most comprehensive global freight audit service.

Freight audit in sap shiperp multicarrier shipping software. Reduce time spent on freight audit and approval eliminate invoice paperwork through automated processing avoid paying incorrect carrier freight invoices. Our customized, automated audit process thoroughly inspects freight bills to ensure your carriers keep their contractual promises. Often times, carriers reclass your shipments or add unexpected markups to your quote. Our professionals will make certain your freight bills are being paid correctly by performing a preaudit of freight invoices. It ensures billed freight services are compliant with valid clientcarrier rate files, contractual and adhoc agreements, thus eliminating the risk of. Apr 15, 2020 the industry average for freight auditing refunds is currently only 2%5% off of your shipping invoices. Transportation and freight auditing software helps automate the manual freight auditing and settlement processes descartes transportation management system helps automate manual freight audit and settlement processes bringing visibility to errors, improving financial analysis and reporting, and providing immediate operational efficiencies and savings. The other half may be joining the ranks soon with the advent of software, developed by some of the large freight audit firms, that now makes it feasible to audit invoices inhouse. Sep 26, 2011 from easing the administrative tasks of invoice processing, to creating cost savings through invoice audits, to delivering actionable business intelligence, cass delivers the benefits of an automated, bestpractice freight bill payment and auditing system. Success in freight audit and payment relies on carefully designed processes, meticulous data management, and exceptional financial controls with more than six decades. Filter by location to see freight auditor salaries in your area. Success in freight audit and payment relies on carefully designed processes, meticulous data management, and exceptional financial controls with more than six decades investing in growing with our customers and honing our craft, cass delivers sustainable savings, a process you can trust, and reliable, detailed visibility to your transportation costs.

Experts estimate that a company can expect freight charges to typically represent up to 10% of a companys total cost of goods, a significant enough portion to pay attention to and to apply the most effective tactics to minimize. The carriers have the option to create a freight invoice on our. Eliminate the need for costly thirdparty audit and administrative costs by. The software can be optionally configured for audit processes via. Along with ensuring freight bills are accurate and reflect contracted termsa key capabilityfreight payment and audit firms can add even greater value. Our freight cost analysis software will crossreference data to ensure your charges are valid, correct, and the honored from your rate shopping to your fulfillment.

For most companies that dont already do it, the financial savings freight invoice auditing offers are substantial. Experts estimate that a company can expect freight. This only represents a fraction of how auditing software can improve your bottom line, so you need to understand why it is paramount in your logistics technology stack. Pricing and roi logistics bill audit small parcel rate. Outside auditing vendors leverage the power of modern technology to optimize the adulting process. The industry average for freight auditing refunds is currently only 2%5% off of your shipping invoices. These can be detected and recovered though ups and fedex parcel auditing. Market research shows that as much as 70 percent of all invoice processing costs are wrapped up in document handling, auditing and payment processes, driving. What should you look for in freight auditing and payment. The idea is to make sure you only pay the shipping charges. Eliminate the need for costly thirdparty audit and administrative costs by automating the entire carrier invoice auditing process. Think outside your freight freightpops shipping software examined.

Some 36 % of laggards claimed the ocean freight auditing software was too expensive or too difficult for them to implement, thus they lacked a centralized program that allowed them to. Several companies manually audit freight bills or outsource it due to the perceived complexity of the process. Incoming freight invoices are checked against the negotiated rates of the forwarders. Youll replace inefficient invoice management processes with automation. When hiring a freight audit company to handle the essential responsibility of freight bill auditing, a specific process is followed to confirm all inaccuracies are noted and corrected, as well as to provide the client with a detailed evaluation of their shipping and receiving procedure based on ad hoc data. In many cases, shipping accounts for more than 10% of a business total costs. But edi software makes it practically automated in most cases so you can process large amounts of data with relative ease. The solution provides mode expertise and global reach, reporting capabilities, ease of using proprietary software, and integration capabilities should be among the checklist before initiating a partnership.

In this edition of logistics tech outlook, we present you the top 10 freight audit and payment solution providers. How much can you save with freight invoice auditing. Do fuel surcharges appear mysteriously on invoices. Auditing solutions for parcel and freight varsity logistics. In recent years, some audit and payment providers have developed software tools that allow shippers to bring these.

Freight audit why outsourcing delivers results cass. Because of all these possible complicating factors, a freight invoice audit is an essential accounting step to ensure that you are being charged the correct amount and not overpaying on shipping. Freight audit and payment cass information systems. There are numerous carrier billing mistakes, service delivery failures, and erroneous accessorial charges that occur on every shipping invoice. The other half may be joining the ranks soon with the advent of software, developed by some of the large. The software can be optionally configured for audit processes via distributed bill auditcentralized bill payment in large or divisional organizations. Companies need to find those freight audit and pay companies that will help them capture savings caused by errors and provide data analytics against market prices. Freight bills can be handled via multiple workflows including selfbilling, einvoicing, and traditional matchpay supply chain processes. In this edition of logistics tech outlook, we present you the top 10 freight audit and payment solution providers 2017. Sep 21, 2017 freight is a key part of most companies transportation expense. How to tackle the freight invoice management obstacles.