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Reduce costs and improve efficiency with Shipping Reports

Shipping reports play a significant role in improving the shipping processes. They enhance shipping efficiency. Track parcel delivery in real-time. And lower overhead costs.

Shipping reports contain vital data of all your shipment. This data is a powerful asset that helps improve processes and optimize operations. This data helps you assess the different areas of operations, run reports, and take corrective actions. Efficient operations, favorable fuel, and labor costs determine the profitability of shipping companies. In this context, having thorough shipping reports are essential. They give an overall view of the shipping profile of shippers. In addition, they enhance shipping efficiency. In this blog, we will discuss the way shipping reports are making an impact.

Understanding the shipping process

Ordering products online seems easy. But shipping is a complex process involving different stakeholders, government regulations, the entire supply and distribution channels, and safe delivery. Hidden costs and carrier inefficiencies hamper a smooth operation. The process needs to have transparency for better operational efficiency.

So, how to improve the shipping process?

There are many ways to improve the shipping process. The chief among them are:

  • Streamlining the shipping process
  • Sustainable and attractive parcel packing
  • Offering customers multiple delivery options
  • Researching and choosing reliable carriers
  • Keeping the customers informed about the shipment

Further, shipping reports aid in improving the shipping process.

Shipping reports and their role

Visibility of data is vital to ensure that the shipping process is being executed well. The shipping reports provide a single consolidated view of the complete data. Shippers access the data, analyze and act on it, and make informed decisions. The entire shipping profile of companies is available in these shipping reports. They provide a detailed 360- degree view of the minutest relevant information on each package shipped.

Audintel has various shipping reports that make it easier for our clients to evaluate, optimize and improve their shipping processes.

Some of Audintel’s reports are:

Shipment details report:

This gives detailed information for each package. Information like sender’s and receiver’s addresses, the weight of each parcel, etc., along with the charges, are easily accessible in the report.

Payment report:

This report gives consolidated report details of the payment for each parcel to carriers by shippers. The clients need not visit each carrier’s website to get the payment information. Thus, it expedites carrier payment and saves time. This also makes the comparison between different carriers easy and helps clients evaluate carrier performance at a glance.

Recovery and transaction report:

This report presents details of credits from the carriers. It mentions the number of transactions along with the charges. In addition, there is an indication of the refund amount. Tracking shipping costs is easier with the shipping reports.

An Audit credit report:

This report presents details on a refund for a package. It is filed by an audit company, like Audintel. On the other hand, client credit is possible. So it is when clients file for refunds or get payment from the carriers directly. This report enhances shipping efficiency.

Address correction report:

This is a vital report to identify charges for change in address of the package. Sometimes the rise in expenses is due to incorrect addresses during delivery. This report presents a complete view of such instances.

Exception and reason report:

These reports come in handy to track delays in package delivery. For example, the report captures details such as package delivered after business hours, weather delay, receiver not available at the delivery time.

Late with exception and reason report:

This is a consolidated report for packages that were delivered late and the reasons behind their delays. This report gives insight to the shippers regarding delivery improvement.

Saturday pickup and delivery report:

These reports help shippers evaluate the extra charges incurred for a Saturday pickup and delivery of packages.

Lost and damaged packages report:

These reports present the data on the number of lost or damaged packages during transit. These reports lower the overhead charges for the shippers.

There are many more reports available that give an easy and simplified view of all the complex data available in the shipping reports. The reports can be further customized as per customer needs. The report presents an enhanced shipping efficiency and saves money.

Closing remarks

The shipping experience should be a pleasant one. Not only for the customers but also the shippers as well. Shipping products to customers need to be fast, hassle-free, and on-time, every time. For achieving this objective, shipping reports offer the right insights for analyzing performance, optimizing services, and enhancing customer experience.

If you’d like to know more about Audintel’s best-in-class shipping process management and reports systems, write us today at mail to [email protected] or contact us at +1 (619) 354 8539 or visit our website here.

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Parcel Shipping Systems Enhanced: Using Data Analytics

Small parcel shipping charges are costly. For this reason, customers opt for products that have a “free shipping” tag. E-commerce giants like Amazon are cashing in on this term. As a result, to outdo their competitors, shippers need to control costs. This article addresses the different ways shippers cut parcel shipping costs using data analytics.

Parcel shipping and logistics are complex processes. Here, we will understand the parameters affecting shipping costs.

Factors affecting parcel shipping costs

Parcel shipping involves high expenses. The expenses are dependent on factors such as:

  • Parcel destination
  • Delivery speed
  • Parcel size
  • Parcel weight
  • Carrier rates
  • Customs duty, taxes, etc.
  • Shipping insurance
  • Delivery surcharges

Shippers have to consider these factors for reducing parcel shipping costs.

Key Performance Indicators (KPI) of Parcel Shipping

KPIs are equally essential in understanding parcel shipping costs. Consider the following KPIs

  • Spotting potential shipping issues
  • Accuracy of order
  • Tracking the delivery time
  • Costs incurred during transit
  • Warehouse expenses
  • Numbers of orders shipped
  • Accuracy of inventory and turnover

Understanding these KPIs will help in controlling shipping charges.

How is data analytics helping?

Parcel shipping generates tons of data. Analysis of the data helps in optimizing supply chain and logistics management. Data analytics of the shipping data controls your parcel spend. Shipping analytics simplifies the process and brings transparency. Automating decisions and implementing real-time analysis reduces shipping costs.

Role of predictive analytics in shipping

Predictive analytics give shipping insights to shipping companies. It improves the efficiency of shipping services. As well as assesses what the future holds. In addition, it can identify any preventable conditions. Shipping software with programmed algorithms makes systems easy to use. So, shippers get actionable data at their fingertips.

Five ways to cut parcel shipping costs

Predictive analytics helps shippers lower parcel shipping costs. Shippers maximize parcel savings by tracking small parcel shipping spend.  Thus, the future of parcel shipping lies with shipping analytics.  It can optimize shipping performance. There are five ways in which it can achieve this.

1. Collection of shipping data

Shipping data is complex and disparate. It is present in shipping carriers and third-party systems. Automating data capture is vital in data collection.  Automation can separate data collection.  For data analysis, current shipping data is relevant.  It gives insights into reducing shipping costs.

2. Optimizing and normalizing data

Optimizing shipping data is beneficial for companies. The collected shipping data is filtered. It gives companies the most efficient shipping process. Normalizing shipping data is storing it in a single archive. Each parcel is analyzed effectively. Robust, cloud-based shipping software can help in normalizing shipping data.

3. Utilizing real-time analytics

Automated systems can utilize real-time shipping data for decision-making. Predictive analytics use the normalized data on a user-friendly Business Intelligence (BI) platform. Experts will examine the data and point out process improvements. Real-time analytics is problem-solving shipping processes.

4. Streamlining communications with partners

Engaging in discussions with the shipper’s partners is necessary. As partners, who are vendors or carriers can exchange shipping data with shippers. This communication between partners will streamline the shipping process. Robust contacts will help predictive analytics.  It gives insights on methods to reduce shipping costs.

5. Responding to real-time data

Up-to-date information is easy to use in controlling shipping spend. Shippers can view parcel shipping expenses in real-time.  There is an instant correction of any mismatch in data. Shippers use real-time data to make informed decisions instantly. Small parcel shipping costs will reduce by responding in real-time.

Maximizing parcel shipping profits

Every shipping company’s goal is to protect assets and maximize profits. Shippers can achieve this by reducing shipping costs. The use of data analytics is improving parcel delivery services. In addition, parcel shipping systems need to be automated to stay ahead of the competition. Audintel is the guide for shippers in maximizing parcel shipping profits.

To Summarize

Shippers get repeat business by keeping customers happy. Further, if you reduce shipping costs, you earn more customers. Therefore, there is a need to automate parcel shipping systems. Technology like data analytics is enhancing parcel shipping systems.

Hence, Audintel has an intuitive state-of-the-art Technology Platform. It provides supply chain analytics technology.  And so, the user can extract actionable business insights. For further queries, please visit Audintel or contact us at +1 (619) 354 8539 or mail to [email protected]

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Parcel audit-Small parcel audit improves your bottom line

There is an urgency to ship medical, protective, and cleaning supplies. E-commerce orders are piling up. There are chances of shipping and invoicing mistakes.  A parcel audit is an essential feature when managing the shipping process. In this article, we will explore the concept of parcel auditing. We will also discuss why it is necessary for logistic businesses around the world.

First, we need to understand-What is a Parcel audit?

A parcel audit involves reviewing shipping bills and invoices. It identifies overcharges and service failures by carriers. Many carriers such as FedEx, UPS, DHL promise refunds to shippers. A parcel audit reviews every shipment for errors and service failures.

What do we mean by service failures?

US Shipping carriers like FedEx, UPS, Ontrac, DHL, CanadaPost, Purolator are responsible for shipping the goods. Their failure to do so is what is a service failure. There are several service failures.

Some service failures by carriers include:

  • Late deliveries- Delivery beyond the committed time and date.
  • Voids- Packages have been billed but not shipped.
  • Duplicate charges-Verifies the invoice hasn’t been billed previously.
  • Avoidable address corrections-Charges for trivial address correction.
  • Incorrect dimensional weight charges- Wrong measurements of the parcel.
  • Account validation – Validates that all shipments considered for payment are tied to an existing customer account number.
  • Proof-of-Delivery – Identifies instances where there’s no POD or an invalid POD.
  • Zone validation – Uses postal codes to validate carrier zone assignment.
  • Erroneous rates- The shipping carrier has not given the correct discount.

Logistic businesses can claim refunds for service failures from carriers. They can reduce shipping costs.

Parcel auditing

In the early days, there was manual parcel auditing. It required employees to identify all billing errors. They had to review several invoices. The review of excessive paperwork was tedious. Shipping companies had to hire auditors to do this labor-intensive work. It was a time-consuming process to gather information. It was not cost-effective for companies in the long run. Adopting parcel auditing software was the way forward.

Software-assisted parcel auditing

There was a need to optimize shipping operations. It was due to an increase in shipping volumes. Shipping companies have started adopting software technology. It is maximizing their profits. On the other hand, shippers can review their invoices digitally. Enhancement of shipping methods is possible. This is by analyzing the data readily available.

A Parcel audit benefits logistic business

Parcel auditing is essential for logistic business operations. These audits help in saving costs for shipping companies. Businesses can monitor the complexity of managing fees, agreements, and guarantees. Parcel audit processes reduce overall shipping costs for companies. Shipping costs are reduced to about 20% by claiming eligible refunds from carriers.

Additional benefits

Reviewing data from parcel audits can lead to huge savings. It helps shippers to understand any inefficiencies in their systems. These audits identify additional surcharges to companies. However, in-house auditing is expensive based on shipment complexity. When logistic businesses want to save time and money, they outsource. Businesses such as Audintel are providing parcel audit services.

How do these parcel audit services work?

The business offering these audit services understands the needs of a shipping company. They create an online login for them. Then link it with the carrier’s systems. There is real-time parcel tracking till their point of delivery.  There is a generation of an invoice when there is a service failure.  Next is an automatic invoice audit.  Then there is a submission of an automatic claim. The audit team contacts the carriers with the claim.  The shipping company gets a quick refund. The entire process involves a software tool working in the background.

Parcel auditing and technology

Parcel audit services have a dedicated database for each shipping company. They provide an overview of the shipping information. It ranges from the origin, destination, charges, etc. Parcel audit companies use Interactive, AI-powered dashboards. An automated BI platform helps in identifying overcharges. They help in analyzing problematic areas and improve negotiations with carriers. After a parcel is shipment, there is an audit at each level. There is proof at each service level.

What are the advantages of using Parcel audit services?

The services provided by a parcel audit company include:

  • E-connectivity with the carrier and parcel invoicing system
  • Transparency in shipment operations
  • Tracking each parcel with accuracy
  • Interacting with carriers for resolving any disputes
  • Check on any violation of guaranteed service agreements
  • Identifying any overcharges made by the carriers

Parcel audit services provide support to logistic companies. Their exhaustive auditing processes help shippers to reduce costs.

Summary

Customer satisfaction is paramount for the logistics industry. A customer has the choice to change the company based on a bad experience. The loss of a customer is painful for shippers. A parcel audit is an answer to each charge and refund. It is vital for real-time confirmation of billing errors. Logistic companies can reduce shipment spend by doing a parcel audit. For further queries, please visit Audintel us at +1 (619) 354 8539 or mail to [email protected]

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Reasons to consider a Freight audit software solution

Freight Audit Software Solution

The freight audit software solution will help companies save costs incurred through invoices. This will, in turn, have a huge impact on their annual profits.

Nowadays charges from various transporters are negotiated and impacted by the oil market. Without a firm understanding of all the intricacies of the shipping industry, a company is always at risk of being consistently over-charged. That is why many businesses turn to a freight audit software provider or a freight audit and payment company. Audit companies handle the laborious task of auditing their freight bills.

Most of the companies will not be able to handle the massive task of processing, organizing, auditing, and paying the carrier companies. It is not only time-consuming but also requires dedicated internal staff. The opportunity to maximize your profit margin through business intelligence will be missed if your company does not take advantage of the intelligence gained from the data.

Freight Bill Audit and Pay

So freight bill audit and freight payment software is an essential component of any business. Many companies do not utilize technology to manage freight bills, resulting in a lost opportunity for multiple cost savings.

The old-school way of manually processing freight bills and hoping for the best overlooks many important and potentially expensive factors. Some companies shipping and receiving more than hundreds of shipments every month, resulting in paperwork in different formats from carriers. In the long run, this will become overwhelming, and inevitable errors get cropped in either from human inaccuracy or a processing mistake.

Discrepancies In Freight Bills

But if your company is being regularly wrongly billed, the costs add up quickly. Most companies do not have the resources to devote to auditing every single bill, so some will resort to a random check, giving the organization only a sample of the entire picture. This will result in risking the forfeit of any lost capital due to overpayment, errors, hidden fees, or redundant costs.

It should be clear that a sound strategy is a priority when it comes to Freight Auditing and Payment. Experts estimate that a company can expect freight charges to typically represent up to 10% of a company’s total cost of goods. It is a significant enough portion to pay attention to and to apply the most effective tactics to minimize.

Freight Paper Invoices

Paper invoices run the risk of becoming lost, and a company loses the ability to analyze bills and data. The cost to internally process and pay freight invoices can be measured at around $11-$12 per invoice. Along with the cost of allocating manpower to perform this laborious task, human inaccuracies or inattention to unforeseen factors may choke even the most well-intentioned internal department. Also, the opportunity to file a claim for reimbursement for any error is typically 180 days and must be handled on time.

Freight Bill Auditing Process

The freight audit company follows a specific process to confirm all inaccuracies are noted and corrected. It provides the client with a detailed evaluation of their shipping and receiving procedure based on ad hoc data. The process begins when the shipping invoice is received either manually or through EDI. The freight audit company will then verify the bill, inspect for errors or inaccuracies, and ensure that:

  • The invoice has not been previously paid or is not a duplicate,
  • Is indeed the responsibility of the shipper to pay,
  • Any tariffs were calculated correctly,
  • Accessorial charges are legitimate and
  • All necessary documentation such as the Bill of Lading and purchase order numbers are included.

They will file a claim to be reimbursed for the mistake or oversight whenever inaccuracies are spotted. If they are assigned to make the payments as well, they will handle the processing of the bill to ensure that it arrives as scheduled.

Audintel’s role :

We at Audintel have a freight audit software solution, which consists of various audit checkpoints to capture any discrepancies done by the carriers. We provide business intelligence reporting which can be used for detailed insights and also plan a better strategy when compared to the competitors. For further queries, please visit Audintel or contact us at +1 (619) 354 8539 or mail to [email protected]