FedEx Holiday Season Surcharges

FedEx holiday season surcharges: What the shippers can expect?

by BlogBusiness Intelligence

As the holiday season is approaching, there is a feeling of excitement in the air. According to some news reports, retail sales may rise this year. With a shorter shopping window, businesses can expect a windfall in their earnings. A strong holiday season will help many small businesses financially. Shipping packages domestically or globally will require a good shipping strategy. Further, an economical shipping carrier will be profitable for business.

Recently, shipping carriers like DHL and UPS announced their holiday season 2024 surcharges. FedEx announced their demand surcharges on Aug. 30, 2024. Further, FedEx announced package shipping fee changes for the coming year on Sept. 13, 2024. This article will focus on the surcharges levied by FedEx. We will also explore the cost-saving opportunities for shippers in the holiday season.

First, understand the FedEx surcharge details..

FedEx surcharge details of 2024

In our earlier article, we discussed FedEx surcharge rates for 2024. Here are some details on the FedEx surcharges of 2024.

  • Additional Handling: These FedEx rates are on a parcel or freight weight, dimensions, and packaging. Special handling of these packages requires additional resources. These rates are on a shipping Zone. For instance, U.S.Package Services is $22 per package in Zone 2 by dimension.
    • Address Correction: FedEx levies charges for incorrect or incomplete recipient addresses provided by shippers. For example, these charges apply when a recipient’s phone number is missing for a Rural Delivery address in Alaska.
    • Clearance fee: FedEx will charge a clearance service fee to shippers for international shipments requiring clearance processing.The fees are for the shipper, recipient, or importer for requesting services. Sometimes, the costs are passed on to FedEx by regulatory agencies such as the U.S. Food and Drug Administration.
    • Delivery Area: FedEx shipments destined for remote or less populated locations cost more for shippers. This surcharge is for geographically arduous places to access in the U.S. For example, applicable fees and delivery times vary for regions in Alaska or Hawaii.
    • Extended Service Area: This surcharge is for FedEx shipments that have to be delivered or picked up in areas beyond the FedEx primary service areas.
    • Ground Unauthorized Package: Packages that
      • measure more than 108 inches in length or more than 165 inches in length and girth or
      • weigh more than 150 pounds are unauthorized packages, according to FedEx.

    These packages may be returned to the shipper or disposed of by FedEx. However, FedEx delivers some of these packages, which may cost more for shippers. These fees are for FedEx ground shipments.

    • Oversize charge: FedEx levies surcharges for packages that exceed 96 inches in length. Further, packages of 130 inches in length and girth are labeled extra-large. The rates are fixed based on the shipping zones and the services chosen by the shippers.
    • Residential Delivery: This surcharge by FedEx is for shipments with addresses belonging to a home or private residence. It also includes locations, where businesses are operating from a house.

    FedEx has many more surcharges, such as Delivery Reattempts, FedEx® Delivery Signature Options, Hazardous Materials, FedEx Ground® C.O.D., etc. Businesses can learn more about FedEx surcharges from the FedEx Service guide of 2024.

    FedEx 2024 holiday season surcharges

    The peak U.S. holiday schedule is usually from before Thanksgiving till the day after New Year. FedEx has different shipping service levels for zones, pickup areas, and delivery locations. Moreover, FedEx Freight charges a redelivery fee when an unsuccessful delivery attempt is due to no prior notification of customer closure. FedEx has modified service hours and is open or closed on some days during the holidays. For example, FedEx Express services have early on-call pickups in some areas.

    Shippers can access the complete details of the FedEx holiday schedule by clicking here.

    Due to high demand, shipping carriers have surcharges on some services. Recently, FedEx announced Demand surcharges for the upcoming holiday season. However, 2024 FedEx Demand surcharges are costlier than 2023 rates.    

    According to FedEx, the reason for the increase in FedEx surcharges is due to

    • increase in operation costs
    • capacity demand, and
    • rising shipping volumes.

    FedEx Demand surcharges

    Every year, during the peak holiday season, FedEx increases the shipping costs for shippers. FedEx Demand surcharges vary according to the service types and dates. Shippers will have to pay for Demand surcharges for shipments tendered after Aug. 15, 2024. These surcharges for 2024 will also apply to international and FedEx Ground Economy services. It is for shippers with waivers or discounts in their contracts. FedEx has updated Demand surcharges separately for domestic and global services.

    U.S. Package Demand surcharge

    In 2024, the Demand surcharges for U.S. package shipments include

    1. Demand- Additional Handling surcharge is for U.S. Package Services and FedEx International Ground Shipments. The amount varies from $7.75 to $10 per package from Sep. 30 2024 to Jan. 19, 2025. Before Sep. 30, 2024, the fee was $3.45 per package.
    • Demand — Oversize Charge is for U.S. Package Services and FedEx International Ground Shipments. The fees vary from $84.50 to $100 per package from Sep. 30, 2024 to Jan. 19, 2025. Before Sep. 30, 2024, the price was $39.50 per package.
    • Demand — Ground Unauthorized Package Charge is for FedEx Ground, FedEx Home Delivery, and FedEx International Ground Shipments. The amount is $450 to $500 per package from Sep. 30 2024 to Jan. 19, 2025.
    • Demand Surcharge for services such as FedEx First Overnight,® FedEx Priority Overnight,® FedEx Standard Overnight,® FedEx 2Day® A.M., FedEx 2Day,® FedEx Express Saver® range between $1 – $2 per package, from Oct. 28–Jan. 19, 2025.

     For contract-only service, FedEx Ground® Economy Package Services, the surcharge varies from $1.90 to $3.15 per package from Oct. 28–Jan. 19, 2025.

    In addition, for U.S. packages for FedEx Ground and FedEx Home Delivery residential shipments, the Demand surcharges range from $0.30 to $0.55 per package from Oct. 28–Jan. 19, 2025.

    • Demand-Residential Delivery Charge changes dynamically weekly. Shippers’ shipping volumes cause different changes in the fees. FedEx  levies the surcharge amount for each package using the peaking factor. Shippers can learn more about surcharge amount calculation by checking the FedEx page.

    The highest surcharge for the above services is from Nov. 25 to Dec. 29, 2024 (Thanksgiving-Christmas holidays).

    U.S. International Demand Surcharge

    FedEx International Services has different Demand surcharges for export and import categories. These surcharges are effective from Sep. 16, 2024–Jan. 31, 2025. Moreover, the division of the international package zones is according to countries.

    The U.S. Export Demand surcharge is $0.10 per pound for parcel and freight services. The fees are for international shipments to Australia, New Zealand, the Pacific Islands, Canada, and South America. Alternatively, the U.S. Import Demand surcharge for parcel and freight services ranges from $0.10 to $1 per pound. The surcharges vary for shipments coming from various countries.

    You can also check with FedEx for the complete surcharge breakdown. After understanding FedEx holiday season surcharges, we must know how businesses can save money.

    Cost-saving opportunities for shippers

    The FedEx Demand surcharges do not mention volume requirements for shipments. It means that low-volume shippers will also have to pay demand surcharges. Shippers can save shipping costs by offering incentives to customers to shop early. On the other hand, they can opt for regional shipping carriers for short-distance shipping options.

    Companies can partner with 3PLs or shipping experts like Audintel for shipping strategies. They can also consider fulfillment centers locally. It will allow shippers to reduce shipping distances and ship in quick time. Shippers can also offer local pickup options to customers and save time and money.

    Partnering with Audintel during the holiday season

    Calculating surcharges for each package is a daunting task for shippers. Partnering with Audintel helps businesses gain a strong foothold on their shipping expenses. Our Transportation Spend Management services monitor the shipping carrier payments. We have shipping strategies for shippers so they do not pay extra during the holiday season.

    In conclusion

    High shipping rates will cause a cascading effect during the peak holiday season. Shipping carriers like FedEx have increased the surcharges for the holiday season 2024. Shippers need to understand FedEx surcharges and implement their shipping strategy. Experts like Audintel can help businesses save money during the holiday season.

    Audintel domain experts give sound advice to shippers. We provide information regarding surcharges levied by different shipping carriers. With our Business Intelligence (BI) technology, shippers can counter the impact of FedEx holiday season surcharges.

    Do you need help with the calculations of the different FedEx surcharges? Do you need clarity on how the peak season surcharges affect your business? Then, contact us at +1 (619) 354 8539, or visit our Audintel website.

    Small Parcel auditing Services -2

    Small parcel auditing solutions: Minimizing shipping costs

    by BlogBusiness Intelligence

    Are you looking for ways to ship small packages at low prices? Also, which parcel carrier is the cheapest? These questions plague businesses shipping small packages, either locally or internationally. USPS is usually the preferred choice for shipping small parcels economically in the US. But, with the approaching holiday season, USPS is planning a price hike. It has increased temporary price rates on some services from October 6, 2024, to January 19, 2025. Shippers must consider price rises before shipping small packages during the holiday peak season.

    Small parcel audits help shippers choose the cheapest carriers and bring in savings. In addition, companies bring in profits with small parcel audits. Our earlier blogs were on various aspects of small parcel audits. This article will give valuable insights into small parcel auditing for saving money. Moreover, businesses will get an overview of how to benefit from these audits.

    Small parcel auditing

    An audit involves verifying, examining, and evaluating processes or systems within established parameters. A small parcel auditing process evaluates shipping invoices and carrier transactions in detail. The audits help in reducing parcel shipping costs. They aid in understanding the factors affecting shipping expenses.

    Small parcel auditing can identify parcel billing mistakes and monitor the performance of shipping carriers. In-house manual parcel auditing is not error-free and requires valuable resources. It is not feasible for companies, big or small. Businesses looking to gain profits invest in parcel audit software or parcel auditing services.

    Small parcel auditing solutions

    Many parcel audit software are available that give auditing solutions. The software offered by organizations automates the audit process on the digital platform. Some audit software tracks the shipment, analyzes shipping invoices, and has automated claim filing. However, not all parcel audit software covers carrier invoicing, automatic refund recovery, or exception handling. Further, managing the parcel audit software requires resource training and skills. It requires constant updation so that it does not get outdated technology.

    On the other hand, small parcel audit services provide unparalleled help to shippers. Along with automated services, experts help companies streamline their processes. For example, shippers can negotiate carrier contracts with data from small parcel auditing. Small parcel auditing services help simplify complex shipping data to user-friendly shipping reports.

    Parcel auditing for savings

    Shippers save money with parcel invoice auditing. During audits, the software identifies parcel billing errors like duplicate charges. Parcel auditing prevents companies from overpaying for invoice errors. Shipping expenses rise due to incorrect surcharges levied by shipping carriers. Parcel auditing involves identifying the wrong surcharges and receiving refunds from the shipping carriers. For instance, with data from parcel auditing, companies can challenge an improper address correction surcharge to the invoice.

    Based on audit data, companies can request refunds for service failures by shipping carriers. The refunds for every delayed invoice can run into thousands of dollars. Shippers can claim refunds from parcel carriers for delayed or incorrect invoices. Shipping carriers like UPS and FedEx give guaranteed refunds in case of service failures like late shipment delivery. Automated tracking of shipments and claiming automatic refunds for late deliveries is a part of the small parcel auditing solutions.

    Small parcel auditing streamlines shipping operations. It identifies service failures of parcel carriers and improves the bottom line of many companies. Shippers are eligible for refunds from shipping carriers for service failures. Some of the service failures are

    • Lost packages
    • Late parcel delivery
    • Damaged packages
    • Late pickups
    • Packaged manifested but not shipped and more.

    Companies can recover money from the parcel carriers for wrong surcharges levied on them. Further, parcel auditing ascertains the application of the correct discounts to the shipments. Choosing the correct parcel carrier cuts down shipping expenses.

    Which parcel carrier saves money for shippers?

    Shippers can choose the parcel carrier depending on their business needs and customer expectations. For instance, USPS is the cheapest shipping carrier for the delivery of lightweight packages. Their ground delivery options are affordable, but they are bound to have delays. Alternatively, if delivery speed is paramount, FedEx and UPS offer express services at premium shipping rates. Regional parcel carriers give the cheapest rates with faster delivery for short-distance deliveries. FedEx and DHL are the popular choices among shippers for shipping packages internationally.

    How do businesses profit from small parcel auditing?

    Small parcel auditing can bring in profits for businesses by following shipping strategies. Reducing shipping costs also includes carrier contract negotiations. Shipping carriers have valuable shipping information about their clients, which has the upper hand during negotiations. Parcel auditing services with actionable data help shippers navigate complex carrier contract negotiations.

    With the help of parcel auditing, shippers learn about their shipping patterns and shipping zones. Shipping data provides real-time visibility to companies on the areas where they can benefit. They can bargain for better contracts with shipping carriers based on their shipping needs. There is no unnecessary loss of resources and revenue by negotiating for better deals.  Further, it allows shippers and carriers to forge a strong relationship. It translates into securing discounts and waivers on surcharges.  

    Companies can decrease shipping costs using the correct dimensional packaging for small package shipments. Shipping cost optimization involves using lightweight, compact, and economical packaging for small parcels. Companies can lower shipping expenses by consolidating shipments. It helps companies save money and time by reducing the number of shipments to a single location.

    The calculation of shipping rates of various shipping carriers is complex and confusing. Small parcel audit services track the annual shipping rates of the parcel carriers. Businesses can adjust their shipping prices if they know about the shipping rates in advance. Therefore, shippers can profit from their business by offering competitive prices to customers with free shipping options. It brings in repeated business from customers and profits for companies.

    Benefits of partnering with Audintel for intelligent small parcel auditing

    Small parcel auditing solutions offered by Audintel reduce shipping expenses. Our BI-powered auditing platform optimizes shipping spend. Audintel’s intuitive, customizable dashboard provides an overview of shipping expenses and billing errors.  We help companies review their shipping strategy so that they save more money.

    Our team has experts adept at contract negotiations due to their vast parcel carrier knowledge and experience. These experts help businesses negotiate carrier agreements with parcel carriers. We also advise companies on the upcoming shipping rates and surcharges of parcel carriers. It helps them negotiate discounts and surcharge waivers from shipping carriers.

    Audintel’s cloud-based solutions can assess thousands of shipments and calculate shipping costs for companies. Our Transportation Spend Management (TSM) solutions increase operational efficiencies and lower shipping expenses. We have a team of well-trained staff that can process claims and refunds. Audintel makes the parcel auditing process simple for shippers.

    The bottom line

    Parcel invoice mistakes can cost companies thousands of dollars. Small parcel auditing services are necessary for minimizing shipping expenses. It ensures that companies don’t overpay when shipping small packages. Advanced technology can automatically detect errors in shipping invoices. Further, by partnering with small parcel auditing services, companies can transform their auditing process.

    With Audintel, shippers will save money and reduce shipping expenses. Our automated software audits small parcel shipments and identifies any mistakes. Shippers get updated real-time information on parcel billing errors, service failures, unwarranted charges, etc. Businesses can see significant savings and profits by partnering with Audintel.

    For further details and information on Audintel small parcel auditing solutions, contact us at +1 (619) 354 8539. Learn more about our small parcel auditing solutions by visiting the Audintel website. We provide customized parcel auditing solutions for our clients. Join us at the Parcel Forum in Dallas from September 16-18 for further parcel auditing discussions.

    Secure Refunds for late deliveries

    How to receive refunds for late deliveries: ask Audintel

    by BlogBusiness Intelligence

    Same-day and next-day deliveries are the accepted norm among online shoppers. Further, consumers expect multiple orders for a single delivery. Customers (46%) abandon shopping carts for long delivery times. As the demand for faster deliveries rises, businesses change to meet consumer expectations.

    There are many instances when packages arrive late. It causes consumer dissatisfaction, loss in revenue, and damages brand reputation. Businesses can avoid late package deliveries by improving order processing procedures and choosing reliable shipping carriers. Moreover, did you know that as a shipper, you can request refunds for late deliveries from shipping carriers? Shippers can save money from shipping refunds and billing errors.  

    Our earlier articles shed light on refunds for late deliveries. Here, we will examine the reasons for late package deliveries and shipping refund solutions. In addition, we will explore the role of Audintel in securing refunds for late deliveries.

    Reasons for late delivery of packages

    Many reasons cause a delay in delivering packages. The most common reasons include:

    • Inaccurate contact information: Incorrect addresses and contact details lead to failed delivery attempts.
    • Delays in customs: Due to unavoidable circumstances, international parcel shipping is put on hold at customs.
    • Weather disturbances: Natural disasters like tornadoes, hurricanes, wildfires, etc. can cause deviations in delivery routes, hence shipment delays.
    • Global supply chain disruptions: Wars, congested ports, pandemics, pirates, etc. disrupt supply chains globally, thus causing shipping delays.
    • Holidays: Some shipping carriers do not work on federal or national holidays, causing shipment delays.
    • Damaged labels and boxes: Easily damaged paper labels and incomplete addresses on shipping labels cause shipment delays. Further, damaged boxes will need repacking, resulting in late deliveries.

    How can shippers avoid delayed shipments?

    Shippers can avoid shipping delays by

    • verifying delivery address before shipping
    • using weather-resistant labels
    • providing customers with tracking numbers
    • distributing inventory across multiple fulfillment centers
    • partnering with various shipping carriers and
    • investing in advanced technology for real-time data connectivity

    Further, companies can make agreements with shipping carriers that guarantee on-time parcel deliveries. They will offer delivery delay compensation or provide refunds for delayed packages.

    Shipping Refund Solutions

    Shippers are entitled to refunds if a shipping carrier delivers a package even a minute late. However, shippers are clueless about this chief point, and most refunds remain unclaimed. Companies find the claim refund process time-consuming and complicated. So, they lose out on claiming refunds from shipping carriers within the cut-off time. Shipping refund solutions offered by organizations like Audintel help shippers claim refunds seamlessly.

    Shipping carriers like FedEx, UPS, DHL, etc., provide refunds for late deliveries. They give refunds for selected shipping services. Companies shipping huge volumes find it hard to track refunds for some shipments. Choosing a shipping refund solution provider like Audintel helps businesses save money.

    Shipping Carriers provide refunds for late package deliveries

    During contract negotiations, shipping carriers like FedEx and UPS have guarantees for on-time package deliveries. In case of delayed shipments, they agree to refund the shippers. Every shipping carrier has different terms and conditions for processing refunds. The refund process also varies. Let us look at the refund policies and procedures of major shipping carriers.

    FedEx Money-Back Guarantee

    FedEx refunds shippers for late package deliveries. FedEx Money-Back Guarantee is their refund policy. It is for select services only. FedEx Overnight® services, FedEx International Priority® services, and FedEx 2Day® A.M. service are eligible for the money-back guarantee. FedEx extends the delivery commitment time by 90 minutes during the holiday season. Please check our blog to learn more about FedEx Money-Back Guarantee.

    A request for a late delivery refund is within fifteen days from the invoice date. But, the challenge remains to filter out all the late package deliveries and ask for refunds. Audintel has superior audit software that can request refunds and save money.

    UPS Guaranteed Service Refund

    The UPS refund policy is the UPS Guaranteed Service Refund (GSR). UPS GSR is active for selected domestic services such as UPS Next Day Air® and UPS 2 Day Air A.M.® Shippers can also claim refunds for UPS International services like UPS Worldwide Express. Requesting and claiming refunds from UPS is time-consuming and complex. It is ideal to partner with experts to receive refunds promptly.

    Check out our article on the benefits of partnering with Audintel and to learn more about UPS GSR.

    DHL Money Back Guarantee

    DHL provides refunds to shippers for transportation costs. It applies to services such as DHL EXPRESS 9:00, DHL IMPORT EXPRESS 9:00, DHL EXPRESS 10:30, DHL IMPORT EXPRESS 10:30, DHL EXPRESS 12:00, and DHL IMPORT EXPRESS 12:00. Shippers can claim refunds for late deliveries by telephone or writing to DHL. It should be within fourteen calendar days from the date of shipment. Further, companies have to produce the waybill number, shipment date, account number, if applicable, and customer information. Shippers save money and time by requesting refunds by partnering with Audintel.

    USPS Refunds

    Items in the USPS Priority Mail Express® service are eligible for a refund when packages are not delivered by guaranteed date and time.  Shippers can claim refunds within 2 to 30 days after the mailing date, with no extra services. Further, USPS refunds shippers by money order or cash. Monitoring delayed shipments and requesting refunds for each shipment takes time. Experts such as Audintel can identify late deliveries and request refunds instantly. For further details on USPS refunds, check this page.

    Late delivery refunds are applicable for U.S.-based payers. The money-back guarantee does not include fuel surcharges, taxes, duties, accessorial charges, fines, returned shipment charges, and more. Furthermore, the money-back guarantee policy does not cover hazardous goods or force majeure.

    Audintel Shipping Refund Solutions

    Claiming refunds for late shipments and receiving them on time is not easy. Audintel specializes in cost-saving opportunities for shippers with state-of-the-art shipping refund solutions. We track late deliveries for our clients and claim refunds from shipping carriers. Our software and AI-based tools conduct complete audits and claim filing processes for major shipping carriers. Our SaaS Business Intelligence portal provides greater visibility of all shipping operations. Shippers get an overview of the carrier’s performance and can make informed decisions.

    We can identify and follow up with shipping carriers regarding delayed shipments. Our Transportation Spend Management (TSM) solutions can identify carrier service failures and request refunds for service failures. Audintel has a team of professionally trained call center staff that can negotiate claims with shipping carriers. Shippers can save up to 30% more in Refund credits with our services. We help improve the relationship between shippers and shipping carriers. Our clients benefit immensely with better service quality and discounts on services.

    The bottom line

    Customers do not tolerate late delivery of goods. Companies suffer revenue loss and no return business due to delayed shipments. Further, shippers can save money by claiming refunds for late deliveries on time. Experts like Audintel can help companies understand refund policies and processes.

    Audintel provides real-time monitoring and tracking of shipments with its automated tools.

    We audit each shipment for potential refund claims and quickly aim to secure refunds for late deliveries. Our team of experts has years of experience handling refunds from shipping carriers. Our cloud-based tools help shippers meet customer delivery expectations. Shippers can seamlessly secure refunds for late deliveries with Audintel.

    Do you need refunds for late deliveries? Audintel refund services are there for you. For further details and information on Audintel refund solutions, contact us at +1 (619) 354 8539. In addition, learn about our customized audit services at the Audintel website.

    Shipping_Report_Analyze_Expense

    Shipping Reports: Analyze shipping expenses with ease

    by BlogBusiness Intelligence

    Despite the global turmoil, consumer spending has not waned. E-commerce businesses are rising as fewer people are visiting physical stores. According to experts, the e-commerce market will be over $7.9 trillion by 2027. Many customers (70%) expect free shipping from e-commerce retailers. These retailers adopt shipping strategies to entice consumers to shop more to qualify for free shipping. Further, companies need to grow their business by evaluating the amount spent on shipping.

    Shipping software with advanced technology tools gives businesses greater visibility and control over their shipping operations. AI and Machine learning help evaluate business spending data and analyze shipping expenses. Shipping reports provide such information to organizations. Our earlier blogs on shipping reports were on the importance and types of shipping reports. This article will focus on shipping reports and how to track and analyze shipping spend.

    Shipping Reports

    These are reports that provide shipping information to shippers. They ensure that companies have the latest shipping data. Shipping reports will bring efficiency to shippers’ transportation spend management systems. Companies have vast volumes of data. Shipping reports can filter that data by date, service levels, quantity of goods, etc.

    Many shippers have customized shipping reports that cater to their business needs. It helps them make informed decisions regarding the type of shipping carriers to choose.  In addition, payments to shipping carriers and refunds for service failures are visible in the shipping reports.

    Track Shipping Spend

    Tracking last-mile delivery of goods is necessary for every shipping software. Shippers can choose the service levels of the shipping carriers based on the items shipped, delivery speed, and cost-effectiveness. Shipping rates can be calculated based on the shipping zones of carriers like FedEx, UPS, DHL, and USPS. Further, the weight of packages, dimensions, and delivery time can estimate the shipping costs.

    Additional expenses like remote area surcharges, fuel surcharges, and address correction fees need tracking during shipment deliveries. Every shipping carrier has different additional fees for shipment-related surcharges. Understanding these shipment surcharges will help track the shipping spend. Automated tracking tools can track shipments quickly  and save time. Reporting inefficiencies and invoice errors allows companies to keep a check on their shipping expenses.

    Shipping Spend Analysis

    Spend analysis examines the data involving shipping expenses. Spend data is collected from various sources and consolidated. Further, data inaccuracies and redundancies require removal to get accurate data. Standardizing the shipping spend data and classifying it into diverse groups is the next stage of spend analysis. Shipping reports help in categorizing the spend data for effective transportation spend management.

    Organizations can identify trends and saving opportunities by visualizing data as bars, charts, pie diagrams, etc. Further, dashboards give a broad overview of the shipping spend performance. For example, it highlights the invoices with discrepancies. It will also show the areas where refunds from the shipping carriers are available.

    Artificial Intelligence (AI) and Machine Learning (ML) tools with predictive analytics allow organizations to study their historical spending patterns. Moreover, these tools can predict future spending patterns and supply risks and identify market trends. Companies can optimize inventory levels and reduce shipping costs by analyzing data from customers and distributors. Further automated tools decrease manual labor and expedite processes in warehouses and fulfillment centers.

    Real-time shipment updates with AI-powered tools provide shippers peace of mind and enhance supply chain operations. In addition, AI-powered chatbots improve customer experience and free up agents for complex issues. Spend analytics provides visibility in managing expenses at every stage of the shipment process.

    Parcel Spend Analysis

    Evaluation of the amount spent on shipping parcels is possible through spend analytics. Parcel audit services provide insights into each parcel shipped, its charges, and service levels. For example, the fees for parcel delivery overnight by FedEx and UPS vary. Understanding the cheaper and faster mode of parcel delivery helps shippers save money.

    Shippers can negotiate favorable rates and services from parcel carriers. Further, one can streamline the processes through consolidated shipping and optimizing packaging. Shipping reports generate data that can identify errors and provide solutions to shippers.

    Freight Spend Analysis

    Companies receive ample cost-saving opportunities with freight spend analysis. It involves an examination of freight invoices in a specific time frame. Shippers can spot hidden costs and overpayments by looking at features such as freight class, routes, modes, etc. For instance, freight data regarding the cheaper shipping lane can reduce costs and transit times.

    Further, shippers can comprehend their shipping logistics costs with spend analytics. Information regarding trucking spot freight rates, bill of lading, customs, etc., is possible with descriptive analytics. Shipping reports generate meaningful data that are easy to understand and implement.

    Transportation Spend Reporting by Audintel

    Our Business Intelligence (BI) powered tools analyze shipping spend data and give valuable insights to shippers. Audintel’s cloud-based platform provides a 360-degree real-time overview of the shipping spend data. We provide customizable shipping reports for our clients with details at the item level. Audintel aids in reporting on transportation expenses.

    Shippers get many benefits from choosing our Transportation Spend Management resources. Our shipping reports help businesses understand their shipping spend. The shipping data of each package contains in-depth information. We also offer shipping calculator services to clients. For example, we calculate the best possible rates for each package based on weight, size, or dimensions.

    What do shipping reports of Audintel contain?

    The shipping reports of Audintel include

    • Summary of all the package charges for a specific service
    • Total expenses and refunds for each package
    • Shipping charges by service level and discounts
    • All the services used by shippers at a glance
    • Consolidated report regarding payments to shipping carriers
    • Details of credits from the shipping carriers
    • Tracks late-delivered packages
    • Details of lost and damaged packages
    • Surcharges incurred on each package (for example, Saturday delivery)
    • Details of the exception packages and reasons for each packages
    • Reports that displays the GL codes available for each invoices and respective charges
    • Details of the Address correction packages.
    • Reports that displays the spend and recovery along with the percentage for yearly, quarterly and monthly date ranges.
    • Week over week(WoW) or Month over month (MoM) performance trends reports.

    Shipping reports provided by Audintel provide better visibility about shipping costs and processes. Our intelligent, intuitive dashboards monitors carrier performance and provides comprehensive reports. It allows shippers to have meaningful discussions with shipping carriers regarding delivery timeframes.

    Further, Audintel’s parcel and freight audit services can identify service failures, duplicate invoices, incorrect surcharges, etc. We help customers recognize the complexities of shipping rates and surcharges of each shipping carrier. It helps them choose the best ways to ship their goods economically.

    Conclusion

    The global freight market is facing many challenges. The world shipping industry is evolving at a fast pace. With the approaching holiday season, companies with vast shipping volumes need to reduce their shipping expenses In addition, customer satisfaction with on-time delivery of packages is critical for shippers. Partnering with shipping intelligence experts can help shippers lower their shipping costs.

    Audintel’s robust intelligence tools can track, analyze, and reduce shipping expenses. Our comprehensive shipping reports give an overview of each company’s shipping operations. The shipping reports contain the shipping spend and delivery data. It could be late package deliveries, shipping rate calculations, or improper surcharges. Businesses have all the shipping information at their fingertips.

    Further, shippers can track their shipping spend for a particular timeframe with one click. Companies can gauge the performance of a shipping carrier when shipping their goods. And so they can choose the best carrier for their shipping needs. Our shipping reports are easy to understand and self-explanatory. We help shippers save money with our intelligent software and customized transportation spend reports.

    For more information on our shipping reports, contact us at +1 (619) 354 8539. Further, learn more about our comprehensive audit services by visiting the Audintel website.