What to Look for in Accounting Software for Transport Companies

What to Look for in Accounting Software for Transport Companies

Numbers don’t lie.

And in an age of vast amounts of data, understanding the numbers that underly the operations of a business is of utmost importance. Nowadays, managing these large data sets manually is impossible – you need powerful technological tools in order to not only keep track of everything but find real cost savings opportunities.

The transportation industry is under particular pressure to mitigate rising costs. To do so, an account software solution for transport companies is a necessary investment.

In order to navigate the crowded space of technologies, it’s important to have a guide to the specific features and benefits you should look for in an accounting software solution.

5 Things to Look for in an Accounting Software Solution for Transport Companies

  1. GL Coding Support: General ledger coding to region or geography, business unit, department and/or SKU-level
  2. Accruals: Precise weekly accrual support on SKU, cost center, and carrier levels
  3. Claims: Claims management reporting, filing, recovery and verification
  4. Data: Integrated data flows into transportation, ERP, accounts, and finance systems
  5. Reporting: On-demand or scheduled reporting capabilities

Intelligent Audit Account Software Solution for Transport Companies

Intelligent Audit provides the accounting software solution that transport companies need. With a suite of technological tools, as well as a team of industry-leading account manager, IA is head and shoulders above other providers in the field.

Invoice Payment and Approvals

IA ages all carrier invoices to the agreed net terms or based on your custom business rules. Once invoices are approved and payment comes due, IA provides detailed remittance instructions.

The payment function can be managed entirely by IA to reduce the administrative burden of paying multiple counterparties. IA remits payment to carriers within 24 hours of receipt of funds.

Analytics and Reporting

Exceptions include GL coding related, potential fraudulent shipment activity, custom business rules, and any legitimate audit or rating related issues identified by IA but repeatedly denied by
carriers.

Analytics allow for deep dives into controllable vs uncontrollable issues to hold carriers accountable as well as identify areas for improvement.

Cost Center Allocation

Effectively manage complex GL coding and cost center allocation. Categorize costs by geography, business unit – even SKU-level. Track unbilled carrier activity and provide detailed accruals to the finance team. Model total landed costs and compare to forecasts.

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