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Minimize shipping operation costs with data analytics

by BlogSpend Intelligence

As the trend to shop online is increasing among customers, it is essential to have a robust shipping operation. Towards this end, shipping data analytics enable businesses to make better decisions and improve shipping performance.

Optimize the shipping operations of a company by keeping track of shipping orders and inventory. This blog will try to understand the steps involved in optimizing shipping processes. In addition, we will explore the different ways businesses save money by utilizing shipping analytics.

Optimization of shipping operations

Shipping costs make a massive impact on a company’s budget. Optimizing shipping operations helps in cutting shipping costs for companies. A few vital steps are involved in optimizing shipping operations and boosting profit margins. These steps include:

  • Use of historical data to track shipping performance
  • Analyzing real-time data for seamless operations
  • Utilizing automated, easy-to-use dashboards
  • Reducing hidden costs with shipping analytics and
  • Partnering with parcel audit services to diagnose pain points

Improving shipping operations

Enhance shipping operations with proper planning and cost-effective use of resources. Shipping processes like packing parcels will affect shipping costs. Moreover, choosing the best shipping option will affect the shipping budget. An efficient transportation management system (TMS) aids companies in optimizing their shipping operations. TMS creates transparency as companies can track shipments in real time. In addition, shippers can take advantage of aggregating multiple shipments into one order, thus saving money. Further, companies expand their businesses with different shipping routes and modes of transportation. Automated software systems and data security enhance the shipping operations of a company.

Optimization of Freight

Freight optimization involves reviewing possible modes of transport for a shipment. Diversifying vendors and carrier networks is an efficient way to secure competitive freight rates.  Further, freight shippers can explore multiple routes for better markets with a freight management system. Companies can leverage the right software to stay ahead of the competition. In addition, shipping data analytics will affect the growing freight management systems.

Role of shipping data analytics

Shipping logistics management is possible with the help of automated software. With cost modeling tools and predictive rate simulation, shippers can understand their shipping expenses. In addition, a better review of delivery routes allows companies to leverage the dynamic rerouting of parcels. It prevents shipment delays so that time-sensitive and urgent shipments reach on time. Further, customer satisfaction increases with more information about the updated delivery status of shipments.

Predictive rate simulation allows shippers to visualize the shipping spend on package weights, zones, service levels, etc. Predictive analytics is to understand to determine where delays will likely occur. In addition, it helps to boost customer service levels. Moreover, Big Data in the shipping industry provides valuable insights to minimize late deliveries.

Big Data in Shipping

Big Data enables shippers to predict and address problems, prevent shipment delays, and gain a competitive edge. The different ways in which businesses can make use of Big Data in optimizing shipping operations include:

  • Reduce shipping costs with actionable insights into carrier contracts: with big data and shipping analytics, shippers understand shipping expenses.
  •  Make strategic decisions: real-time Big Data analysis helps to recommend the best decisions for companies.
  • Recognize potential frauds: Shipping analytics solutions identify shipping patterns and detect multiple payments

Big Data in maritime analytics affords efficient bunkering, crew management, efficient cargo handling, tracking goods, fleet tracking, detecting anomalies, and more Predictive analytics is transforming the shipping industry by enhancing the safety of ships and environmental protection.Big Data controls parcel expenses with actionable intelligence. It offers valuable insights to shippers about shipping costs.

Optimizing Business Intelligence

Business Intelligence tools consider special handling and accessorial fees in calculating shipping rates. Further, business intelligence offers insights to companies on past and recent shipment movements. It provides information about how the competition behaves and knowledge about emerging markets. BI tools help to analyze massive amounts of data quickly. Audintel‘s state-of-the-art BI platform helps track shipments, refunds on late deliveries, and more.

Optimize shipping operations with Audintel

Shipping operations are improved with proper planning and by adopting the best practices. Parcel invoice audits identify errors in shipping operations, such as fuel surcharges, total spending on shipping, etc. Audintel offers parcel invoice audits to shippers for their shipping operations and helps save money. Our Transportation management system (TMS) services guide shippers on the different aspects of shipping parcels. We provide insights into carrier contract negotiations with shipping data analytics. Our team helps shippers cut shipping costs and optimize their shipping operations.

Conclusion

Operational efficiency is essential for a business to be more profitable. Optimizing shipping operations with accurate planning and bagging the best deals is vital for shippers. A robust auditing system with BI tools increases a company’s shipping efficiency and lowers operation costs. Audintel has a wide range of BI tools and state-of-the-art dashboards that transform the shipping operations of companies. We provide the competitive edge to operate efficiently in the marketplace. To know more about our services and BI platform, contact us at +1 (619) 354 8539 or visit our Audintel website.

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Freight audit process: Six common challenges shippers face

by BlogFreight Audit

Freight billing errors, duplicate freight bill payments, complex tax rules of different countries; All this data requires efficient auditing by companies for better freight management. The freight audit process appears complex and difficult to comprehend for many businesses. But, an expert can pool-up all the relevant data and audit the freight bills. In this article, we will discuss the challenges faced by shippers during the freight audit process.

Why is the freight audit process complex?

Freight tariffs are complex, which are negotiated at the time of agreement between the shipper and carrier. It requires SME’s to understand the Freight tariffs, invoices and ensure proper billing by the carrier.

Freight rates proposed by shipping carriers change frequently; it could be due to fuel prices, tariffs, etc. That’s why freight auditing is vital for shipping companies. But, the freight audit process appears complex as it requires detailed invoice checking, diligent staff, and scheduling carrier payment in time.

The process becomes complicated when shippers have in-house manual audits that are not error-free. Also, the traditional way of freight auditing is time-consuming and stretches resources. Shippers face many challenges during the freight audit process.

The six common challenges faced by shippers during the freight audit process

The traditional way of auditing freight invoices does not solve the root cause of freight billing errors. Further, auditing involves disputing billing errors with the carrier, keeping track of freight disputes and requesting corrected invoices from shipping carriers. So, here are six challenges shippers face and the solutions to overcome these challenges.

  • Duplicate invoicing

Shipping carriers invariably issue duplicate freight invoices, companies dealing with huge shipping volumes receive thousands of freight invoices every year. Without proper auditing, businesses pay multiple times for a single invoice; thus causing huge loss of revenue.

  • Discrepancies in freight rates

Freight rates change constantly, but some companies use old freight rates during price calculations. It leads to confusion and disputes between the companies and the shipping carriers. Discrepancies in freight rates lead to inconsistencies in invoices and quotes.

  • Incorrect freight classification

Freight classification (NFMC) for shipments is essential for calculating shipping charges. This classification has 18 freight subclasses with different specifications for density, size, stowage, and liability of the goods shipped. Error in identifying the correct NFMC code for calculating freight charges will prove costly for shippers.

  • Shipping discounts

Shipping carriers offer discounts to their regular clients. Shippers can negotiate with shipping carriers for the best shipping discounts for freight shipping. However, if contract negotiations with shipping carriers are not updated regularly, shippers can lose out on the shipping discounts.

  • Tax and Tariffs

Applying tax rates for state, federal, and global shipping is vital for calculating freight charges. Wrong taxes or incorrect custom duties will affect the entire shipment. In addition, if taxes are not a part of the invoices, it will cause a delay in shipments, wasting valuable time and money.

  • Accessorial fees

Surcharges or accessorial fees influence freight shipping costs. It is essential to have an accurate accounting of Fuel surcharges, terminal handling surcharges, emergency bunker surcharges, peak season surcharges, etc. The wrong application of surcharges will lead to incorrect invoices and needs to be disputed with carrier..

These are some of the challenges faced by freight shippers that need quick resolution. The manual freight audit process involves teams that manage payment exceptions and vouchers. Further, the overworked staff of the audit teams is prone to cause human errors. So, it is essential to have digital solutions for optimizing shipping processes.

What are the solutions to overcome the challenges?

Technological innovation strategies and their implementation assist in the management of freight auditing. Automation of freight documents like freight billing will eliminate duplicate payments. Each invoice is validated to prevent overpayments with the help of effective auditing systems. In addition, shippers get greater visibility of the freight rate system with automated reports and innovative dashboards. With state-of-the-art freight post-billing solutions, shipping companies can understand freight classifications. Freight auditing software streamlines audits of freight invoices. Its real-time data helps in better negotiations with carriers for shipping discounts. In addition, it can schedule disputing errors with carriers in optimal time and receive corrected invoices without any hassles. Data accuracy ensures accurate tracking and monitoring of freight surcharges to shipments. Hence, state-of-the-art technologies and strategies help in effective freight management.

Benefits of partnering with Audintel

A freight audit provider, Audintel, provides quick audit solutions for freight billing inaccuracies. Shipping companies can improve their business processes with an efficient freight audit process which consists of 25 audit points. At Audintel, we do three-way match file audits that compare and validate the invoices of the shipping carriers and the shipment files. In addition, we carry out audits on freight rates, duplicate invoices, accessorial charges, and fuel surcharges. Our freight audit tools help in requesting corrected invoices from shipping carriers. We track and monitor accessorial fees so that our clients do not overspend. Our negotiating team experts conduct carrier contract negotiations for our clients and save money.

Final thoughts

Freight auditing may appear complex with complicated terms mentioned by shipping carriers. A trained eye can detect freight billing errors and claim corrected invoices immediately. With real-time intuitive dashboards and expert analytical resources, Audintel reduces freight costs and gives our clients a competitive edge. We, at Audintel, streamline the freight audit process for our clients. Discover more by reaching us, or by checking out the Audintel website or contacting us at +1 (619) 354 8539

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Best Practices For Shipping Contract Negotiations

by BlogCost Optimization

It’s that time of the year again for evaluating your expenses, especially for parcel and freight shipments. As a sign of good practice, companies should review their contracts with shipping carriers annually. It not only helps in understanding the shipping costs but also in saving money efficiently.

We have discussed carrier contract negotiations in our earlier blogs. Here, we will share experts’ advice on the prudent way to negotiate carrier contracts.

Companies with high shipping volumes can reduce costs with an efficient carrier contract management system. Experienced professionals believe that a well-informed shipper can diligently negotiate on the negotiation table and reduce shipping costs. So, let’s understand the importance of carrier contract negotiations. In addition, gain the know-how to prepare for the negotiation process from experts.

Importance of carrier contract negotiations

Businesses face rising shipping prices and increase their profits while fulfilling customer expectations. So, it becomes essential for shippers to negotiate better carrier contracts and save money. Due to labor shortages, shipping carriers such as UPS and FedEx are increasing their shipping rates. Companies end up paying more to these shipping carriers if their carrier contract negotiations do not cover some services. With an optimized carrier contract, companies can drastically reduce their shipping costs.

Contract negotiation process

It is necessary to understand the complexities of the contract negotiation process for the best deals. Ideally, the contract negotiation process involves understanding the shipper’s shipping volume in different categories. Businesses need to identify their shipping volumes in terms of service with zones keeping their historical data in mind. It helps to identify the service that can fetch more discounts from the shipping carrier. Moreover, additional evaluation of weight slabs helps shippers receive discounts, particularly in specific slabs having high shipping volumes. Further, a proper Dim Weight shipping volume assessment helps reduce the Dim Weight.

Negotiating Parcel Contracts

Negotiating carrier contracts can also involve identifying shipments to specific destinations. For instance, shippers can get discounts, particularly for Western States or Eastern States in the contiguous states within the country, or Import/Export to specific countries. In addition, negotiating parcel contracts brings discounts on fees. The parcel carriers offer discounts on high-volume surcharges can significantly reduce shipping rates.

Experts having vast experience in carrier contract negotiations believe that shippers should know which services attract the maximum discount. During carrier contract negotiations, shippers can target the services that will give them the most rebate. In addition, shippers should clarify the minimums applied to each service. For instance, if the shipper has a high possibility of shipping rates at the minimum, then negotiations should be on the minimum reduction amount on the minimums. Further, shippers should negotiate for a higher dim factor for specific services.

Use of Multiple Carriers

According to experienced carrier contract negotiators, shippers should consider alternative parcel carriers. A shipper using a shipping carrier for a prolonged period may miss out on crucial shipping discounts on specific services. A multi-carrier strategy identifies the current carrier costs for alternative carriers. Companies can compare the current shipping costs of the old parcel carrier with that of the new shipping carriers to help them decide the best shipping carrier for their business.

A better understanding of surcharges

Value-added charges or surcharges may not appear in the initial contract with shipping carriers. But, an accurate assessment of the value-added fees at regular intervals helps companies save money. Shipping surcharges and charges of the parcel carriers change frequently. Some of the fees that see frequent changes are

  • General Rate Increase (GRI)
  • Courier and documentation fees
  • Pallet fees

Carrier contract management can keep track of the surcharges so that shippers don’t pay extra. In addition, carrier contract management supports negotiation strategies with parcel carriers. Parcel contract negotiations require expert management to get a complete understanding of different nuances during the contract negotiation. Companies that do not have an in-house contract negotiation team can always partner with third-party experts.

Get expert opinion from Audintel on carrier contract negotiations

Shipping companies have to understand their shipping profile before entering into contract negotiations. Audintel helps shippers evaluate their historical data to know the areas that can reduce shipping costs. Shippers should pay attention to any changes in the shipping carriers’ fees. Our team provides updates about any changes in the shipping carriers’ fees and surcharges so that the shippers don’t pay more. In addition, Audintel also supports its clients in renegotiating contracts as and when needed. We help shippers to review their carrier contracts periodically to avoid payment of unseen charges in the future.

To sum it up

Parcel shipping is becoming expensive every year. A good carrier contract helps shippers overcome hidden fees and surcharges. Effective carrier contract negotiations at the right time help companies get the best out of their shipping carrier contracts. Audintel’s experts in carrier contracts negotiations help shippers save money. For further information, contact us at +1 (619) 354 8539 or visit our Audintel website.

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Do you know everything about carrier contract negotiations?

by BlogCost Optimization

It’s that time of the year again for evaluating your expenses, especially for parcel and freight shipments. As a sign of good practice, companies should review their contracts with shipping carriers annually. It not only helps in understanding the shipping costs but also in saving money efficiently.

We have discussed carrier contract negotiations in our earlier blogs. Here, we will share experts’ advice on the prudent way to negotiate carrier contracts.

Companies with high shipping volumes can reduce costs with an efficient carrier contract management system. Experienced professionals believe that a well-informed shipper can diligently negotiate on the negotiation table and reduce shipping costs. So, let’s understand the importance of carrier contract negotiations. In addition, gain the know-how to prepare for the negotiation process from experts.

Importance of carrier contract negotiations

Businesses face rising shipping prices and increase their profits while fulfilling customer expectations. So, it becomes essential for shippers to negotiate better carrier contracts and save money. Due to labor shortages, shipping carriers such as UPS and FedEx are increasing their shipping rates. Companies end up paying more to these shipping carriers if their carrier contract negotiations do not cover some services. With an optimized carrier contract, companies can drastically reduce their shipping costs.

Contract negotiation process

It is necessary to understand the complexities of the contract negotiation process for the best deals. Ideally, the contract negotiation process involves understanding the shipper’s shipping volume in different categories. Businesses need to identify their shipping volumes in terms of service with zones keeping their historical data in mind. It helps to identify the service that can fetch more discounts from the shipping carrier. Moreover, additional evaluation of weight slabs helps shippers receive discounts, particularly in specific slabs having high shipping volumes. Further, a proper Dim Weight shipping volume assessment helps reduce the Dim Weight.

Negotiating Parcel Contracts

Negotiating carrier contracts can also involve identifying shipments to specific destinations. For instance, shippers can get discounts, particularly for Western States or Eastern States in the contiguous states within the country, or Import/Export to specific countries. In addition, negotiating parcel contracts brings discounts on fees. The parcel carriers offer discounts on high-volume surcharges can significantly reduce shipping rates.

Experts having vast experience in carrier contract negotiations believe that shippers should know which services attract the maximum discount. During carrier contract negotiations, shippers can target the services that will give them the most rebate. In addition, shippers should clarify the minimums applied to each service. For instance, if the shipper has a high possibility of shipping rates at the minimum, then negotiations should be on the minimum reduction amount on the minimums. Further, shippers should negotiate for a higher dim factor for specific services.

Use of Multiple Carriers

According to experienced carrier contract negotiators, shippers should consider alternative parcel carriers. A shipper using a shipping carrier for a prolonged period may miss out on crucial shipping discounts on specific services. A multi-carrier strategy identifies the current carrier costs for alternative carriers. Companies can compare the current shipping costs of the old parcel carrier with that of the new shipping carriers to help them decide the best shipping carrier for their business.

A better understanding of surcharges

Value-added charges or surcharges may not appear in the initial contract with shipping carriers. But, an accurate assessment of the value-added fees at regular intervals helps companies save money. Shipping surcharges and charges of the parcel carriers change frequently. Some of the fees that see frequent changes are

  • General Rate Increase (GRI)
  • Courier and documentation fees
  • Pallet fees

Carrier contract management can keep track of the surcharges so that shippers don’t pay extra. In addition, carrier contract management supports negotiation strategies with parcel carriers. Parcel contract negotiations require expert management to get a complete understanding of different nuances during the contract negotiation. Companies that do not have an in-house contract negotiation team can always partner with third-party experts.

Get expert opinion from Audintel on carrier contract negotiations

Shipping companies have to understand their shipping profile before entering into contract negotiations. Audintel helps shippers evaluate their historical data to know the areas that can reduce shipping costs. Shippers should pay attention to any changes in the shipping carriers’ fees. Our team provides updates about any changes in the shipping carriers’ fees and surcharges so that the shippers don’t pay more. In addition, Audintel also supports its clients in renegotiating contracts as and when needed. We help shippers to review their carrier contracts periodically to avoid payment of unseen charges in the future.

To sum it up

Parcel shipping is becoming expensive every year. A good carrier contract helps shippers overcome hidden fees and surcharges. Effective carrier contract negotiations at the right time help companies get the best out of their shipping carrier contracts. Audintel’s experts in carrier contracts negotiations help shippers save money. For further information, contact us at +1 (619) 354 8539 or visit our Audintel website.

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UPS shipping invoice audit: why use a third-party auditor?

by BlogSpend Management

Companies shipping large volumes of parcels during the holiday season don’t have time for parcel audits. In addition, it is hard to oversee mistakes and overcharges made by shipping carriers like UPS and FedEx. So, many companies are moving towards automated audit solutions to save time and resources. This article will discuss the need for auditing UPS shipping invoices. Also, we will highlight the benefits of using a third-party auditor.

But first, we need to understand-

UPS audit-what is it?

UPS offers businesses various incentives for shipping parcels through their company. Shippers also enter into contracts with UPS for their different shipping services. However, checking each UPS shipping invoice for incorrect surcharges and late deliveries is tedious. A UPS audit thoroughly examines each UPS shipping invoice for potential errors. It helps shippers claim refunds from UPS and understand their shipping spend.

UPS shipping invoices

The contents of UPS shipping invoices require information like

  • Shippers’ name and contact address, contact number
  • Shipment details like a tracking number, shipment ID, date of shipping, invoice number, purchase order, etc.
  • Recipient’s name and contact address, contact number
  • Quantity of goods
  • Description of goods
  • Value of goods
  • Declaration statement

Further, shippers provide information about the discount, insurance, total weight, and the total number of packages. For further details, check UPS’ site, https://www.ups.com/media/en/Commercial_Invoice_Guide.pdf. UPS will charge the shipper more if inaccurate and incomplete shipment information is on the shipping document. UPS has the right to audit any package to check its weight and dimensions. If there are any discrepancies, UPS will charge more to the shippers.

Need for audits of UPS shipping invoices

Parcel and freight auditing gives shippers better insights into their shipping needs. Companies can renegotiate better shipping rates with UPS based on the shipping data. An audit of UPS shipping invoices will unravel duplicate charges and other overlooked errors. UPS audits are to be quick and accurate as the window for recovering UPS refunds is time-bound. Companies can recover refunds for UPS late deliveries within fifteen days from the date of shipment. Audits retrieve money owed to companies from shipping carriers like UPS.

Benefits of parcel auditing

The growth of small parcel shipping has caused a rise in small parcel costs. With the demand for faster parcel deliveries, shippers deal with monitoring surcharges and shipping rates. As part of cost-saving strategies, companies are cutting down on excess packaging of goods. In addition, they are investing in parcel auditing services for a detailed understanding of their shipping spend.

How a third-party auditor helps companies reduce their transportation spend?

Parcel audit services by third-party auditors conduct audits on UPS shipping invoices. Their proprietary parcel audit software runs a complete audit checklist on UPS shipping invoices. The refund process is automated, and the refund amount gets credited to the shippers’ accounts directly. The auditor accesses all the shipping data and provides in-depth reports to the shippers on their shipping expenses. Some of the audit checklists of UPS shipping invoices include

  • Late deliveries
  • Lost packages
  • Duplicate Billing
  • Address correction charges
  • Residential charges
  • Incorrect Dimensional weight charges
  • Missed discounts as specified in service contracts and many more

Third-party auditors provide customized reports to companies regarding their UPS shipping invoices. It allows shippers to renegotiate with UPS regarding certain services and reduce their transportation spend.

Parcel invoice audit software

Many parcel auditors have specialized AI-driven UPS invoice audit software. The AI platform automatically audits UPS invoices every week and uncovers any hidden errors instantly. Further, the data analytics reveals UPS late delivery refunds uncompensated and other billing errors. The real-time shipping data helps shippers improve their delivery efficiency and recover lost profits. In addition, effective parcel audit software guides shippers in addressing last-mile delivery issues and optimizes shipping methods.

Partner with us for the Audintel advantage

It is difficult understanding the complexities of UPS shipping rates, surcharges, and refund processes. Audintel has experts who have worked with shipping carriers like UPS and FedEx and have a thorough knowledge of these charges. We have an AI-powered platform that automatically checks UPS shipping invoices. Line-auditing of every invoice ensures that shippers recover their shipping costs. In addition, we have a team that pursues the billing mistakes with UPS so that clients do not lose even a single dollar due to unfair billing. Our customized shipping reports provide insights into shipping data. It also provides visibility of any hidden surcharges levied by UPS after the delivery of packages. By partnering with Audintel, shippers can cut shipping costs by making smarter shipping decisions.

Final thoughts

Parcel auditing is a time-consuming process. Companies do not have the time or the resources to manually audit shipping invoices. So, auditing UPS shipping invoices for individual packages is a big task, especially for a company shipping large volumes of parcels. Outsourcing parcel auditing to experts like Audintel helps companies claim refunds for UPS late deliveries. In addition, parcel audits provide greater visibility to shippers to reduce their shipping expenses. For more information about Audintel and our services, contact us at +1 (619) 354 8539 or visit our Audintel website.

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Freight audit services for greater transparency

by BlogFreight Audit

A freight audit is essential for checking incorrect freight billing errors. Outsourcing freight audits and payment helps eliminate overcharges and save money.

Companies that transport freight have to deal with overwhelming volumes of transactions daily. The amount of paperwork and complexity of freight rates is challenging for many organizations. In addition, payment to freight carriers has to be on time to avoid souring  carrier-shipper relationships. Companies must perform a freight audit to identify freight billing errors and improve productivity. Hence, outsourcing freight audit and payment services to a third party maximizes a company’s bottom line. This blog discusses outsourcing freight audit and payment services to freight audit companies.

Freight audit

Earlier companies used manual freight audits that were time-consuming. The process was prone to mistakes. Now, freight audits are a combination of automation and manual processes. So, freight audits can give reliable freight rates and ensure invoices are not duplicated or overcharged. Freight payment involves the amount payable for transportation or freight invoices. Further, freight audit and payment processes improve logistics efficiency and monitor shipping carriers’ performance.

The importance of freight audit

A freight audit is necessary for all freight shippers. Freight rates are negotiated with shipping carriers before contracts are signed. However, many companies end up paying more than the agreed quote. Freight audits help companies gain better visibility on their overall shipping expenses. In addition, freight audits optimize invoice management and payment. Freight audit includes both pre-audit and post-audit services.

Pre-audit helps shippers understand if the shipping carriers are correctly charged based on the contractual agreement.

Freight post-audit services aid companies decide whether shipping carriers have overbilled them.

How does outsourcing freight audit work?

In the U.S., many companies outsource to freight audit and payment companies. Ideally, freight audit companies act as facilitators between shippers and shipping carriers. Freight auditors receive invoices from shipping carriers or for in-depth analysis. The analyzed data offers good insights into shippers’ operations. Duplicate invoices are verified, and only outstanding bills are processed. Finally, only confirmed invoices are paid by wire transfer or check for payment. In addition, any unpaid invoices and due balances are taken care of during the freight audit process.

Advantages of outsourcing freight audit

Conducting a freight audit in-house may seem the best option for many companies. But outsourcing freight audits identify the mistakes that internal teams cannot. Some of the significant advantages of outsourcing include

  • Reducing labor costs

Outsourcing freight audit helps in cutting labor costs with accurate freight billing. Manual verification of freight payments before invoice approval requires labor. Outsourcing reduces these labor costs and increases productivity.

  • Saving time

Companies need not waste their valuable time tracking each shipment, filing for claims, requesting refunds, and more. Outsourcing saves time for companies by streamlining the freight audit process. Further on-time accurate freight payment to shipping carriers improves the shipper-carrier relationship.

  • Increase in financial returns

Freight audit companies aid shippers in recovering lost charges. Based on carrier contracts, accessorial surcharges or late delivery charges are verified, reduced, or waived. Outsourcing helps in identifying wrong detention invoice rates. In addition, freight audits help in reducing inventory costs and improve productivity.

  • Greater visibility

Dashboards give shipper the capability to become pro-active instead of reactive by anticipating problems before they become a crisis. They allow shippers to easily view their transportation data in easy to read and interpret tables and graphs. Perfect Dashboards , customizable reports helps shipper to enhance decision-making. Dashboards and reports provide transparency and real-time visibility to a shipper’s freight spend.

The above advantages give a competitive edge to shippers. Freight audits provide new opportunities for companies to streamline their processes.

Save more with Audintel

Freight audits can transform businesses. Audintel’s customized, intuitive dashboards and shipping reports help our clients understand their freight shipping expenses. We uncover potential freight bill errors and provide accurate freight billing across each carrier agreement. Audintel has a dedicated, professionally trained staff at our Call Center that negotiates with shipping carriers periodically for claims and refunds. Our state-of-the-art technology tracks freight invoices and saves money for companies. In addition, we handle complex contracts and rates for our clients. Audintel‘s team has optimized the freight shipping processes of our clients, saving them millions of dollars in shipping costs.

The bottom line

Businesses can save a substantial amount of their freight costs by adopting a good freight auditing process. Freight audits help in identifying freight billing errors and resolve freight payment issues. Skilled and qualified auditors at Audintel identify freight billing errors. In addition, we resolve payment issues and follow clients’ precise business rules. Audintel has saved millions of dollars for our clients with our efficient freight audits. Would you like to learn more about freight audits and our services? For further information, you can contact us at +1 (619) 354 8539 or visit our Audintel website.

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Shipping reports: Optimize shipping performances with data

by BlogSpend Intelligence

This holiday season, economic uncertainty and rising inflation will hit many industries. Also, these industries will face customers who want more goods and services at a lesser price. Further, shipping companies deal with high shipping costs and holiday surcharges. In addition, companies will have to attract customers with great shipping experiences.

Transportation spend solutions like shipping reports make shipping simple and easy. Earlier, we had discussed shipping reports help in reducing shipping costs. This blog explores shipping reports, managing shipping costs, and shipping metrics.

Shipping reports: its essentiality

Companies require comprehensive solutions to reduce unnecessary surcharges. Automated parcel auditing help companies in saving money to a great extent. There is less reliance on manual, time-consuming manual auditing processes. Shipping reports provide companies with complete visibility of parcel shipping history, tracking data, shipping rates, and more variables. In addition, shipping reports use intelligent automation to identify billing mistakes and overcharges and efficiently track shipments. Shipping reports by Audintel give detailed, in-depth information on carrier performance, service levels, accessorial charges, etc.

Shipping cost management with shipping reports

It is becoming increasingly difficult for shippers to understand shipping rates and complex surcharges. Shipping reports provide details of the shipping processes to maximize operational efficiency. Companies that incorporate real-time analytics can provide quality service to their customers. Shippers have greater visibility in parcel spend management with the help of real-time shipping data and analytics. Further, leveraging the right technology helps in better shipping cost management.

Shipping metrics in shipping reports

Not just shipping cost management, shipping reports play a vital role in tracking the on-time delivery of packages. Shipping metrics like on-time delivery performance by shipping carriers offer clarity to shippers. It helps them recover refunds from shipping carriers like UPS and FedEx and reduce shipping costs. Further, parcel auditing involves using business intelligence solutions to reduce shipping costs. Some of the shipping metrics that are a part of shipping reports include

  • Accessorial charge summary-summarizes accessorial charges by invoice number
  • Address correction details-detailed information about the addresses that are corrected
  • Weight adjustment details-original weight and billed weight of package adjustments are listed.
  • DIM weight verification-details the dimensional weight variations of packages
  • Lost or damaged packages details-lists the lost or damaged packages
  • Invoice summary-summarizes invoices within a time frame or date range
  • Insurance detail-shows the insurance packages, values, and charges for each package
  • Delivery status-list the delivery status of a package and confirm whether residential or commercial delivery, zone, weight, etc.

The above metrics give a glance at what to expect in shipping reports. The shipping data in shipping reports covers the various aspects of shipping a package. Companies can minimize shipping costs with quick resolution of carrier errors and additional surcharges.

Key Performance Indicators (KPIs) to track shipping performance

There are various key performance indicators (KPIs) that help in monitoring each business area. Companies benefit by spotting financial problems early, making timely adjustments, and undertaking quick decisions with KPIs. The KPIs relate to Order management metrics such as the number of shipments, shipping time, and accurate order pick-up. In addition, Transportation management metrics help improve shipping operations with freight payment accuracy, on-time delivery, and transportation costs. Using transportation management metrics, companies can automate shipping processes. They can improve inventory management and identify unnecessary charges leading to extra costs. In addition, KPI dashboards help in tracking shipping performance.

A way to lower shipping costs

Shipping reports help to analyze historical data and share results in real time. They give clarity on service errors by parcel carriers and service refunds. And so shippers can negotiate discounts with shipping carriers and lower their shipping costs. In addition, shippers use real-time data to track each shipment and reduce shipping costs. Companies can increase the delivery speed of their packages with the correct data. A parcel auditing solution provider, Audintel helps companies follow the best shipping practices and save shipping expenses.

Customized shipping reports by Audintel

Parcel auditing services of Audintel audit every overcharge and invoice error. Our services provide transparency to transportation spending management. The shipping reports provided by Audintel give in-depth information on the shipping details of shipments. Our clients can save hundreds or thousands of dollars on their parcel spend.Audintel helps companies understand their transportation spend management more efficiently. Our shipping reports track the last-mile delivery status of a package, thus giving clients peace of mind. We provide real-time dashboards and customized shipping reports that help our clients reduce shipping costs. With lower shipping costs, shippers receive a great on-time delivery experience to customers.

Conclusion

Shipping during the holiday season is crucial for all companies. Customer satisfaction and optimum operational efficiency are essential during this period. Companies optimize their shipping operations with lower shipping costs. Audintel helps companies reduce shipping costs with their data analytics tools. Our customized shipping reports allow companies to gauge their shipping expenses and save money. So, for an increase in operational efficiency and quick turnaround time, contact our services at +1 (619) 354 8539 or visit our Audintel website.

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Efficient parcel auditing services save more with refunds

by BlogFreight Audit

Shipping services will be at their peak in the upcoming holiday season. Businesses need to track whether their packages reach on time to their customers. Due to the heavy rush, there will be a delay in shipments.

Many shippers are unaware of recovering refunds from carriers for late deliveries. With the help of parcel audit services, shippers realize the errors made by carriers during shipment. This blog explores parcel audit services recovering refunds from shipping carriers. In addition, learn more about billing overcharges.

Parcel audit services and shipping refunds

Parcel audit services check and verify invoices from different shipping carriers worldwide. They conduct a comprehensive audit to ensure an accurate assessment of each shipment. Shippers face service failures from their chosen parcel carriers. For example, shipping carriers give duplicate invoices to shippers for a single package. Sometimes errors are made by shippers that directly impact shipments. For instance, the wrong address shipping label on the parcel is the cause for a delay in shipments. Mistakes made by carriers or shippers harm customer service. Parcel auditing is essential for shippers to recover refunds to avoid negative customer feedback.

Shipping refunds

An audit team addresses service failures of shipping carriers. Refund requests are sent to the shipping carriers immediately for quick resolution. Further, companies shipping large volumes of shipments have contracts with shipping carriers. The contracts entitle shippers to money-back guarantees from parcel carriers for late deliveries and other service charges. However, requesting refunds from shipping carriers is a complicated process. Each shipment has to be checked and verified to claim a refund from the parcel carrier. Most companies end up paying carriers for promised services that are unfulfilled. Outsourcing parcel audit services help companies receive refunds for late deliveries, overcharges, etc.

What are the kinds of refunds identified by Parcel auditing?

Parcel audits recover shipping refunds for companies and improve their operational efficiencies. Parcel auditing identifies refunds caused due to

  • Duplicate invoicing- More than one invoice with different parameters like invoice date and amount for the same parcel.
  • Billing overcharges- Unforeseen charges are added to the invoice when there is a delay in shipment due to an incorrect shipping label on parcels.
  • Late deliveries- Packages delivered late due to carriers’ network disruptions or other reasons are eligible for a refund.
  • Lost and damaged deliveries- Packages lost or damaged during transit are eligible for a refund.
  • Invalid surcharges- Parcel carriers charge shippers additional fees for the wrong dimensional weight of packages, errors in addresses, incorrect delivery areas, and improper fuel surcharges.

Companies find it an uphill task to dispute the additional fees levied by carriers. Manual auditing is time-consuming and requires resources. Reliable parcel audit services can help companies in challenging charges and getting refunds. In addition, it can help companies simplify the refund process.

Refund process

Shippers are eligible for refunds for service failures and incorrect invoicing by shipping carriers. The refund process for a shipment begins with a request to the concerned shipping carrier. Further, filing a refund claim must be within fifteen days of the quoted delivery date on the invoice. Shipping carriers like FedEx and UPS have dedicated channels for claiming refunds. In addition, UPS and FedEx promise on-time delivery of packages in their contracts with shippers. So,  shippers are eligible for a refund for late deliveries from UPS and FedEx (discussed in detail in our earlier blogs). Getting a refund for late deliveries is time-consuming, but outsourcing parcel audit services makes life simpler for companies.

Role of parcel audit services

Efficient parcel auditing services take care of identifying service failures and incorrect surcharges. Further, automated parcel auditing services recover refunds for carrier inefficiencies. Finally, refunds are directly transferred into the companies’ accounts effortlessly. In addition, audit companies aid companies in parcel contract negotiations, so they do not miss the money-back guarantees for late deliveries from shipping carriers. Parcel auditors maximize revenue for companies with their shipment tracking tools and state-of-the-art software.

Audintel’s parcel auditing services to recover your refunds

Receiving refunds from UPS, FedEx, and DHL is easier said than done. A team of parcel auditors at Audintel recover refunds for late deliveries, incorrect invoices, invalid surcharges, and more. Our intuitive software easily tracks shipments and identifies service failures instantly. Audintel Technology Development and Customer Service Call Center effectively request refunds from shipping carriers for service failures. We don’t just rely on automated software, but our dedicated and experienced team at the Call Center follow-up with the shipping carriers for quick refunds. Our clients can expect the most reliable parcel audit services from Audintel. Choose Audintel for recovering refunds instantly without hassles.

Summary

In the current economic situation companies need to spend less and save more. So, recovering refunds with the help of efficient parcel audit services is the best way forward. Companies need parcel audit services that understand their shipping costs and save undue expenses. Audintel fits the bill for businesses looking to increase their operational efficiencies. Receive refunds directly into your accounts with Audintel’s services. Contact us for more details about our services at +1 (619) 354 8539 or visit our Audintel website.

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Carrier contracts: negotiate effectively for better savings

by BlogCost Optimization

Is tracking individual contracts with multiple carriers proving to be tedious? Are you aware of the latest shipping rates that may affect your business? A carrier contract management system can give answers to these questions. Further, accessorial charges are a part of carrier contract negotiations.

Here, we will explore carrier contracts and their significance in reducing shipping costs for companies.

Carrier contracts and their significance on businesses

Shippers work with carrier companies to move goods between locations under agreed contracts. The carrier contracts work for specific customers and not the public. They are ideal for high-volume shipping operations. Further, carrier contracts give greater visibility regarding the timeline for invoice payments, shipping rate confirmation, and more. Businesses improve their bottom line regardless of dynamic markets with carrier contracts.

Examples of contract carriers are DHL, FedEx, UPS, Penske Logistics, and other large shipping carriers. These contract carriers offer specialized services to companies or organizations based on contracts. They offer customized services for a company’s specific needs. For instance, for the transport of refrigerated goods, they provide refrigerated trucks. Having a contract with the shipping carriers helps shippers reduce shipping costs and improve the visibility of the shipments.

Manage carrier contracts and increase operational efficiency

Businesses need to identify shipping data in their efforts to manage carrier contracts. Shippers can analyze their shipping data by service, weight, zone, and accessorial charges and assess contract deviations. In addition, carrier contracts are subject to changes, and updating carrier contract agreements is essential. A centralized monitoring system allows for better carrier contract management. A quick reference to multiple contracts improves the entire operational efficiency of the shipping company. Further, carrier contract negotiations are a part of good contract management.

Why do businesses require negotiations on carrier contracts?

The negotiations on the rates, services, and accessorials with the carriers are carrier contract negotiations. We have discussed carrier contract negotiations in detail in our previous blogs.

However, given the current global scenario, it is time to revisit contract negotiations with the shipping carriers.

Did you know new carrier rates affect carrier contracts?

In the latest news, FedEx has announced FedEx Express and Ground list rates and surcharges from Jan 2, 2023. You can check here for list rates. You can check here for the FedEx surcharges and fees.

These surcharges will affect the shipping rates. Added fuel costs and labor shortages are having an impact on the freight shipping rates. Further, ground transport is affected by trucking delays, labor disputes, and rising oil prices. As a result, intelligent negotiations with shipping carriers are the need of the hour. Multi-year contracts with carriers help in reducing annual rate increases. Get assistance from Audintel for negotiating with shipping carriers and saving shipping expenses.

Why is it essential to have accessorial charges as a part of carrier contracts?

Accessorial charges are fees levied by shipping carriers for any additional service provided during the transit of goods. Accessorials can impact a company’s bottom line and affect the quality of service. The most common accessorial charges for freight are

  • Detention: a fee charged by a carrier for additional time spent getting loaded or offloaded at a shipper or receiver
  • Demurrage: daily rate charge for cargo left at the terminal beyond the allotted free time
  • Storage: charges for holding containers at the intermodal terminal beyond the free time allotted
  • Per diem: a fee that a carrier charges against another shipping carrier or customer for using its trailers, containers
  • Residential delivery: surcharges for delivery of parcels in residential areas

Skilled negotiations help to avoid or eliminate accessorial charges. Shippers can schedule the docking to avoid detention charges. Similarly, keeping track of the arrival/ departure of containers and pre-clearing the cargo will eliminate the demurrage charges. Shipping carriers agree to lower prices during negotiations, provided shippers avoid accessorials.

Carrier contract agreement

An agreement between shipping carriers and companies for delivering goods, services, and fees is a carrier contract agreement. For instance, the UPS carrier contract agreement contains incentives and minimum rates as decided by UPS and the shipper. Further, it covers accessorial fee reductions and DIM weight reductions on invoices. With the correct shipping data, shippers can benefit from carrier contracts.

Audintel and carrier contracts

Carrier contract management is hard to decipher for clients having multiple contracts with multiple shipping carriers. Audintel not only manages carrier contracts for its clients but also helps in negotiating for a better price. We help in carrier contract negotiations by providing insightful data. Further, Audintel tracks shipping invoices for clients. We investigate the shipping carrier’s performance and aid clients in reworking contracts. Our experts are well-versed in negotiations and monitor the dynamic shipping rates of different shipping carriers. So, Audintel protects its clients from unwanted expenses by re-negotiating contracts with shipping carriers.

Final thoughts

Technology can optimize the shipping operations of businesses and reduce shipping costs. However, understanding the complexities of shipping rates and accessorials may confuse shippers. Audintel with its unique software tools, can help negotiate contracts with shipping carriers. We offer services that will save money and improve your overall service. Let Audintel guide you through the complex maze of carrier contracts. Contact us for any information on carrier contracts and our services at +1 (619) 354 8539 or visit our Audintel website.

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Know your shipping spend from four critical shipping reports

by BlogSpend Intelligence

As a shipping business, you are always on the lookout for profitability. When shipping parcels from place A to B, you need to know the cost of the shipment. Keeping a tab on the packages shipped becomes difficult for businesses. For this reason, shipping reports are vital for shipping businesses.

The shipping reports give an overview of the shipping costs. And help the shipping business save money. This article will explore the concepts of shipping spend. And the four critical shipping reports that address shippers’ spend, and save money.

What is shipping spend?

The cost incurred during shipping packages is known as shipping spend. Shipping spend includes transportation fees, accessorial fees, warehousing, labor, insurance, etc. Managing shipping costs along with labor and product costs is a balancing act for businesses. Automation and digitalization are helping companies to understand their spend management. Shipping spends management gives visibility to shipping costs. In addition, it provides insights into cost-saving opportunities and strategies for businesses to adopt.

How is shipping spend analysis improving data visibility?

Shipping businesses can manage and optimize shipping operations with the correct data.  Shipping spends analysis starts with collecting data and analyzing it in detail. Data from shipping carriers, customs, shipment count, fuel purchasing system, and more are not enough. In addition, shipping businesses have to analyze real-time data with advanced technology like IoT. Advance technology improves data visibility so that shippers can make informed decisions. The data helps in reducing shipping costs for shippers.

Shipping reports aiding spend management

Proficient software tools aid in analyzing shipping spend. An automated software helps to identify the areas of financial opportunities. Based on a shippers’ key performance indicators (KPIs), the software generates shipping reports. The customized shipping reports shed light on specific shipping details and help in making data-informed decisions. Towards this end, we have detailed the four critical shipping reports that are vital for shipping businesses to understand shipping spend.

1. Annual Summary Report

A summary of all the charges per package for each service is in this report. It calculates the average cost per package for each service.  The report is essentially an analysis report from a particular date range. It includes the shipping spend, the number of packages, cost per package, and the weight of the parcels for each service. For example, for a 1-day service, customers can compare the charges levied in the current year to that of last year.

2. Net Spend Summary Report

An easy-to-use report that highlights a business’ total spends and refund for each service “at a glance”. This report gives the net spend and refunds for each service weekly. It is an essential report for customers. It provides an insight to customers about the total amount spent on each package per week. Customers can manage expenses and save money by using this report.

3. Service Level Summary Report

It provides all the shipping charges by service level. The report covers expenses on the total packages, gross amount, discounts, and discount percentages for each service.  The amount charged without applying any discount is known as the gross amount. In addition, the report explains the average cost, weight, and zone for each service. The average weight is the total package as against the total weight of the package. In addition, average zone means shipping to each shipping zone on average.

4. Service Summary Report

This report gives an overview of all the services the client uses. It provides details like net charges, carrier-published charges, accessorial charges, surcharges, the weight of the package, and the number of packages. Carrier-published charges are the charges to which the shipping carrier has agreed with the shipper. The report analyzes the amount the carrier charges per zone.  Furthermore, it indicates the percentage with which the shipping carrier is increasing their deliveries.

Benefits of shipping reports

Shipping spends analysis is characterized by shipping reports. The information in the shipping reports helps shippers in optimizing their shipping strategy. Further, it improves the visibility of the shipping data. And help shippers root out invalid charges claimed by shipping carriers. Audintel gives customers an overview of their shipping costs with these reports. Audintel provides in-depth shipping spend information. Customers can make decisions with the data received from shipping reports.

Closing remarks: Shipping businesses worry that their expenses do not cost them dearly. With this in mind, shippers try to gain more information about their shipping spend.  However, the process takes a lot of time and money. But, when you partner with a parcel audit company like Audintel, life becomes easy. Audintel provides customized shipping reports that provide spend management solutions to their customers. As a result, customers have critical data insights in their hands to negotiate with shipping carriers concerning their shipping spend. To learn more about shipping reports, contact us at info@audintel.com. You can also learn about us by visiting our Audintel website or call us at +1 (619) 354 8539.