The surge of e-commerce has made managing the sheer volume of invoices manually impossible. Manual invoice management wastes precious time, hampers business growth, and creates more work for your business by researching and reconciling discrepancies. And those are just the ones you know about! Shippers must focus on uncovering inefficiencies, eliminating waste, and having a ‘continuous improvement’ mindset to remain competitive in the logistics market.
Thankfully, freight audit and payment software solutions are available to automate the identification of issues, submission of claims, and recovery in key areas such as rate variance, accessorial charges, fees, waivers, and duplicate invoices. In this article, we'll delve into eight reasons why shippers need a reliable freight audit company and payment services provider to optimize their business and how Intelligent Audit's Freight Auditing services are a must-have for effective freight audit and payment best practices.
Supply chains strive to find ways to do things cheaper, faster, and more efficiently. You can’t just coast in this field and expect to avoid disruptions and foster growth. The ongoing warehouse labor shortage and unstable trucking market make pursuing continuous improvement challenging and imperative. Companies must find other areas to drive efficiencies within their operations when navigating market challenges out of their control.
When companies leverage reliable freight auditing and payment services, they get the most value from their supply chain operations. These services are crucial to giving shippers the power to gather data and transform it into powerful business insights. These insights help shippers make smarter decisions supported by data and can be used to optimize shipping.
Freight audit solutions automate the process of identifying issues from freight invoices. This technology continuously collects and analyzes data from invoices, and machine learning catches anomalies in real time from massive amounts of relevant data. Intelligent Audit's services, for example, track invoice data to automatically capture overspending. Machine learning technology identifies discrepancies that shippers should not be paying for. By detecting the problem right away, shippers can address it before it gets out of control, which prevents significant overspending.
Investing in streamlined freight auditing solutions improves the accuracy and transparency of the invoicing process and maximizes resources. By automating auditing procedures, businesses can allocate their staff to value-added tasks and improve overall efficiency.
Being a shipper isn't for the faint of heart. Every day, you're dealing with deliveries, deadlines, and documentation. While your team might be able to stay afloat without help, why not lean into solutions that can help you thrive, not just survive? Reliable freight auditing is like a refreshing cup of coffee for a groggy morning of shipping challenges. It wakes you up to potential errors and oversights, helping you save time and money in the long run. Here are eight reasons why today's shippers need trustworthy freight auditing services:
It's no secret that employees are a company's most valuable assets — and are hard to find and retain. Overworked and burdened with mundane administrative tasks, they often have little time to focus on critical, innovative functions that can drive a company's growth and success. Automated freight auditing gives valuable time back to employees by streamlining processes and freeing up labor to focus on the tasks that truly matter. As a result, they can prioritize meaningful work - like finding exciting ways to make a splash in the industry - and ultimately take your company to new heights of productivity and innovation.
Who doesn't love saving money? I'm sure everyone does! Did you know up to 80% of all carrier invoices have discrepancies? Some of those may be in your favor, but odds are they aren’t. Freight auditing assures that your company isn't being overcharged, saving precious resources in the process. Moreover, it can help ensure all carriers are held to their negotiated rates, giving your organization a more significant advantage.
Doing so lets you identify and eliminate costly errors and overcharges quickly every time. This simple approach helps you save money that you never thought you could! It's akin to discovering hidden treasure in your invoices - translating to more savings in the long run.
To avoid legal disputes or hefty fines that could negatively impact your business, it's critical to stay on top of the ever-changing regulations. This is where reliable freight auditing comes into play. Through thorough auditing and compliance check, your business can be assured of staying up-to-date with current regulations, avoiding potential pitfalls or liabilities. This way, you can focus on expanding your business and improving your bottom line without worrying about legal issues that could bring your business down.
In the ever-changing landscape of modern-day supply chains, data is king. It can give you real-time insight into what's happening and forecast what's to come. It's like having a weather forecast for your supply chain! Just as you wouldn't navigate a stormy sea without checking the forecast, you shouldn't enter your peak season without gathering insights and using data to your advantage.
Cost-cutting opportunities pop up everywhere when you have a complete picture of your logistical expenses, such as recouping overpayments due to overbilling, service deficiencies, or incorrect carrier selection. Data insights enable tracking of transportation spending, comparison of average costs, and strategic decision-making. With the help of freight auditing solutions, you can collect and analyze valuable data from invoices. This can give you new visibility into your supply chain and inform data-driven decisions about your shipping processes. It allows you to react proactively to issues and optimize your logistics for cost efficiency and growth.
Every successful shipper can attest that a smooth operation is the backbone of their business. With the right freight audit solution, you can effectively manage your shipments and stay on top of any potential issues. By streamlining your operation through automation, you can eliminate the time-consuming process of manual auditing, freeing up resources and allowing your team to focus on delivering exceptional customer service. Ultimately, an efficient and streamlined operation will help your business grow and flow faster than ever.
Today's supply chain is about building resilience, avoiding disruptions, getting things done right the first time, and taking a proactive approach. By identifying issues in real time, freight auditing allows you to address concerns before they become painful problems and steer you off course. By staying vigilant and utilizing freight audits, your supply chain will be able to maintain a steady path toward success.
No shipper wants to risk losing money and obstructing the supply chain flow by riding a wave trending in the wrong direction. To avoid wasting time, resources, and increased costs, it's critical to implement freight auditing solutions. With freight auditing services, identifying problematic carriers, routes, or destinations that might constrain shipment reliability and quality is done by generating data to provide detailed insight into your business operations. By leveraging data mining techniques and technology, freight auditing also empowers you to make proactive decisions that optimize your supply chain and steer you in the right direction, ensuring your goods get to their destination efficiently, reliably, and safely.
As in any industry, it's essential to plan for the future. Investing in reliable freight auditing today prepares you for tomorrow's challenges. With trustworthy freight auditing solutions, you'll be ready to navigate new challenges and make even bigger waves in the shipping world.
Reliable freight auditing helps you ride the challenges of today and tomorrow and makes the journey much smoother. With the right freight audit company and freight audit and payment software in place, businesses can streamline their operations, reduce costs, ensure compliance, and make data-driven decisions that will help them rise above the competition.
The significance of freight auditing in the shipping industry is paramount. Freight audit and payment services are essential for streamlining shipping processes, giving companies a competitive edge. Notably, reliable freight auditing solutions are pivotal in helping businesses tackle novel challenges, trim costs, and conform to compliance standards while making data-driven decisions. With Intelligent Audit's freight auditing services, companies can rest assured shipping operations perform optimally.
Benefits of Intelligent Audit's Freight Auditing Services
Using Intelligent Audit's freight audit and payment software will help businesses:
Intelligent Audit is dedicated to helping businesses worldwide streamline their shipping operations, reduce costs, and ensure compliance. With our innovative freight audit and payment software, you can rest assured that your shipments will always be in good hands. Get started with Intelligent Audit today and see how our services can help you save time and money on your shipping operations.
Set up a call with one of our experts to discuss how Intelligent Audit can help your business uncover opportunities for cost reduction and supply chain improvements through automated freight audit and recovery, business intelligence and analytics, contract optimization, and more.
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When creating a strategy to optimize your shipping network, you must keep in mind that each new warehouse should accomplish 3 goals