Without a Freight Invoice Checking procedure, we have discovered that a 10% excess on Total Freight Spend happens on average, which might be recognized and reduced. Freight invoice verification must begin at the lowest level possible to ensure that each transaction is in accordance with rate cards, contracts, and provided services. Then, errors and omissions should be recognized in order to correct anomalies affecting the efficacy of freight management.
This procedure is complicated and time demanding, and often exceeds the Accounts Payable team’s expertise and capabilities. Effective freight management needs reliable base data, and the ability to aggregate and rationalize many data sources that include incomplete or erroneous information requires specialized freight expertise and tools.
Not only can implementing an efficient Freight Invoice Management system help you save money on freight, but it will also enhance customer service, employee communication, and provide you power when negotiating with carriers. Typically, over 95% of in-house solutions fail because to human shortages and the complexity of freight. Not only is there no resolution, but day-to-day supply chain operations suffer as a result of personnel inattention.
To manage freight effectively, you need interactive reporting that enables Freight Operations Managers to dive deep and identify issues with real information. Transport Management Systems offer this sort of assistance, but they are quite complicated and need flawless integration of all aspects of the supply chain. However, there is an excellent alternative Freight Invoice Management system that can be implemented in less than a month and result in immediate cost and efficiency benefits.