What is Freight Auditing and How Can It Help Enterprises?
When it comes to logistics business, companies frequently face a number of challenges that can be attributed to a lack of metrics, or a quantifiable way to measure, track, and determine if freight bills are correct. Freight claim resolutions become lost in the mire of doing business and lack of oversight and visibility leads to freight overspending.
What is Freight Auditing
Freight audit and payment services can help a company prevent over-billing, negotiate future shipping rates more successfully – and most importantly, choose better transportation strategies along with the most efficient carriers.
Due to complex rate/freight pricing system in the logistics industry, there are high chances of carriers making mistakes in freight invoicing. Occasionally Carriers even fail to meet service level agreement to deliver the shipments on time.
Freight auditing is typically provided by a third-party service and entails the careful examination of carrier invoices. They hunt for billing errors, shipments that were incorrectly classified, tariff weight breaks that were not applied, and any other charges that can be recouped due to error.
Instead of paying carriers more than you should, freight audit services can provide real-time metrics that can reduce operating costs and increase billing accuracy and compliance. Eliminate the middle-man and start managing and tracking your company’s logistics channels with freight invoice auditing software.
Benefits of Freight Bill Audit and Payment
- Improved accuracy when paying carriers
- Simplified review of carrier invoices
- Save time and money on shipping costs
- Streamlines the auditing of freight invoices
- Easy comparison of freight rates
- Allows freight bill post audit
- Identifies billing errors
Many times, freight rates are negotiated before contracts are signed. But often, a detailed freight audit will show companies paying more than the carrier’s quoted rate. You gain better control over transportation costs with freight invoice auditing software that provides a central repository for all shipping related negotiations.
Reduce the cost of operations with freight and audit payment solutions that will automate many of the manual processes that are time-consuming. Quickly look up rates and approved invoices while general ledger codes are automatically assigned. Save your accounting staff time and verify that payments are correct before invoices are approved.
Expect increased visibility for your management teams using technology to capture and audit all details pertaining to shipments and your chosen freight carriers. Track route combinations to optimize logistics and make better decisions that can save money lost by shipping and invoice errors.
Freight invoice auditing software can provide detailed reports for distribution. Bills of lading, freight invoices, and delivery receipts can be viewed as custom or standard reports and seamlessly integrated with ERP systems.
Stop wasting money with outdated freight tracking programs by using state-of-the-art technology that combines all your freight invoice and auditing in one web-based platform or corporate-wide application.