Small parcel audit to improve bottom line

Small parcel audit: necessary to improve your bottom line

by BlogSpend Intelligence

Same-day shipping has become the norm for most e-commerce orders. Further, according to reports, e-commerce sales are growing exponentially every year. Emphasis on digitalization and cashless payments are on the rise. There are chances of shipping and invoicing mistakes by shippers and shipping carriers. Identifying these mistakes is essential for conducting profitable businesses. A small parcel audit helps shippers identify and rectify these mistakes.

In this article, we will explore the concept of small-parcel shipping. In addition, we will discuss small parcel auditing. We will also discuss why small parcel audits are necessary for logistic businesses globally.

Small parcel shipping

Small parcels are packages that weigh less than seventy pounds. Goods get packed in envelopes, poly mailers, or boxes for cost-effective shipping. Customers receive their small parcels through shipping carriers. Shipping small parcels requires careful planning and good logistics. The choice of shipping carriers can impact the shippers’ bottom line.

Small parcel delivery is vital for businesses to retain their reputation. Shippers face the customers’ ire if a small parcel gets delayed, damaged, or misplaced. Customer satisfaction is paramount for business to grow. Thus, tracking small parcel deliveries and saving time is necessary for shippers. A small parcel audit can help any business save money and time.

What is a small parcel audit?

A small parcel audit involves reviewing shipping bills and invoices. It helps identify overcharges and service failures by shipping carriers. Many shipping carriers like FedEx, UPS, and DHL promise refunds for errors or service failures. A small parcel audit reviews each shipment for errors and service failures. In addition, it conveys the results to the shippers for appropriate action.

What are service failures?

Small parcel delivery services are possible through small parcel carriers like FedEx, UPS, Ontrac, DHL, CanadaPost, Purolator, etc. Their failure to ship small parcels as committed is a service failure. There are several service failures from shipping carriers.

Some of the service failures by shipping carriers include:

  • Late deliveries- Delivery to the customer beyond the committed time and date.
  • Voids- Packages are billed but not shipped.
  • Duplicate charges- Invoice billing done twice.
  • Avoidable address corrections- Charges for trivial address corrections.
  • Incorrect dimensional weight charges- carriers have taken the wrong measurements of the parcel.
  • Account validation – failure to validate shipments considered for payment for an existing customer account number.
  • Proof-of-Delivery –incorrect identification of POD or an invalid POD.
  • Zone validation – fail to use correct postal codes to validate carrier zone assignment.
  • Erroneous rates- the shipping carrier has given the incorrect discount.

These service failures need rectification immediately so that shippers do not lose money. Logistic businesses can claim refunds for service failures from small parcel carriers. Further, it can reduce shipping costs.

Small parcel auditing

Earlier, there was manual parcel auditing. Employees had to identify all billing errors physically. They had to review several invoices. The review of excessive paperwork was tedious. Shippers had to hire specialist auditors for this labor-intensive work. It took time to gather information and was not cost-effective. Many resources had to spend time and money during auditing. Shippers could save money and resources by adopting small parcel auditing software.

Software-assisted small parcel auditing

US parcel shipping volumes are likely to reach 225 billion by 2028, according to Pitney Bowes Parcel Shipping Index. There’s a need to optimize shipping operations with shipping volumes increase. Shipping companies have started adopting software technology, which is maximizing their profits. Shippers require in-depth visibility of parcel spend with the help of data. Further, shippers can review their invoices digitally. By analyzing the data readily available, enhancement of shipping methods is possible.

Small parcel auditing is possible with specialized software. It gives complete visibility of the shipping operations. Small parcel management with real-time tracking of shipments is beneficial for shippers. Further, refunds for late deliveries from shipping carriers aid businesses in saving money and time. In addition, surcharges like residential delivery surcharges, address correction surcharges, remote area fees, etc., are monitored by the software. Businesses can avoid extra fees with data-backed small parcel audit software.

Small parcel audits benefit a logistic business

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

Small parcel audits allow businesses to save money through refunds from small parcel carriers. Small parcel audits help in the timely identification of late deliveries and automatic refunds. Moreover, shippers can profit by renegotiating their carrier contracts with the shipping carriers. Shippers can negotiate for an advantageous deal with valuable insights from small parcel audits.

Additional benefits of using small parcel audit services

Shippers can save immensely by reviewing data from small parcel audits. It helps shippers to understand any inefficiencies in their systems. These audits identify additional surcharges to companies. For instance, a small parcel audit can identify a parcel sent to the wrong location and recover money. Based on shipment complexity, in-house auditing is expensive for businesses. And so, when logistic companies want to save time and money, they outsource to companies providing small parcel audit services.

One such company is Audintel, which can analyze data to identify billing errors and overcharges. We can strategize solutions to remedy the mistakes. We provide small parcel audit services with state-of-the-art AI-powered dashboards and business intelligence tools. Moreover, we give easy-to-understand shipping reports for businesses to save thousands of dollars.

How do small parcel audit services function?

Companies offering small parcel audit services understand the shippers’ business needs. Small parcel audit services create an online login for the shipper. Further, there is a linkage with the parcel carrier’s systems. Real-time parcel tracking till the point of delivery of the shipment is carried out. Whenever there is a service failure, the generation of an invoice occurs. Subsequently, there is an automatic invoice audit, and an automatic claim is submitted. The audit team contacts the shipping carriers with the claim. The shipping company gets a quick refund. The entire process involves a software tool working in the background.

Small parcel auditing and technology

Small parcel audit services have a dedicated database for each shipping company. There is visibility on each aspect of the shipping information. The data ranges from the parcel origin, destination, charges, etc. Small parcel audit companies use interactive, AI-powered dashboards. An automated BI platform helps to identify extra fees. They help in analyzing problematic areas and negotiate knowledgeably with shipping carriers. After a parcel is shipped, there is an audit at each level. In addition, there is evidence at each service level.

Shippers can save money by claiming UPS and FedEx refunds that otherwise go unclaimed every year. Small parcel management is possible with easy-to-use dashboards and dynamic shipping reports provided by small parcel audit services.

What are the advantages of using small parcel audit services?

The services provided by a small parcel audit company include:

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

Small parcel audit services provide support to logistic companies. The experts providing these services are well-versed in each aspect of the shipping process. Their exhaustive auditing processes help shippers reduce costs.

Summary

Customer satisfaction is paramount for the logistics industry. Customers can change their choice of company or business based on a bad or good shipping experience. It is painful for shippers if they lose customer trust. A small parcel audit helps identify each charge and ask for a refund. It is vital for real-time confirmation of billing errors. Logistic companies can reduce shipment spend by doing a small parcel audit. Audintel provides small parcel audit solutions for seamless shipping operations.

For further queries on small parcel audits, please call Audintel at +1 (619) 354 8539 or drop a mail at [email protected].

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Shipping Reports: Parcel shipping analytics in a nutshell

by BlogSpend Intelligence

The rise in the e-commerce market has revolutionized the parcel delivery industry. Some reports have predicted an increase in the parcel delivery market. With digitalization, the delivery sector has undergone many technological advancements. As customer expectations rise, businesses focus on technology. New technologies enhance operational efficiency.

Innovations and AI are powering the logistics ecosystem. Businesses use wireless devices and IoT systems to track shipments in real time. It ensures the safe movement of goods and triggers alerts when errors arise. Some logistic companies have also used drones for their last-mile delivery of goods. Using drones in the future will cut shipping costs and speed up delivery time.

Shipping data allows logistic companies to optimize their shipping operations. Towards this end, shipping analytics tools gather and analyze data to identify mistakes. Further, shipping reports provide insights into parcel spend management. We have covered reducing shipping costs with shipping reports on this blog before.

This article gives an overview of parcel shipping analytics and the necessity of shipping reports.

Parcel shipping analytics

Shippers face the challenge of cost-effective and fast delivery of packages to satisfy customers. In addition, they have to deal with supply chain challenges that increase delivery time and costs. Parcel shipping analytics involves data analysis. Data analytics can identify patterns related to shipment delivery on time and other shipping metrics. It gives business intelligence tools to companies for streamlining their processes. Further, shipping analytics tools provide intelligent shipping reports to help in business growth.

Features of shipping analytics

Shipping analytics tools sift through data relevant to improving business finances. The features of shipping analytics include:

Data normalization

It is the process of eliminating inconsistencies in data and reorganizing data in a database. Data standardization occurs across the entire system. Shippers can run quicker queries through the massive data collection during shipping with data normalization. The chances of data duplication and errors decrease, thus unlocking business potential.

Forecasting

Businesses get insights into future supply and demand patterns with forecasting and predictive analytics. It helps shippers to plan inventories, manage warehouses, schedule shipments, and order fulfillment. Further, it aids businesses to understand customer demand, purchase behavior, and preferences.

Route optimization

Technology simplifies shipment route optimization. Artificial intelligence (AI) and machine learning can optimize routes with data from trackers on vehicles, real-time traffic updates, weather reports, etc. Moreover, data from different sources allows shippers to deliver time-sensitive goods, update the route in real-time, and improve customer experience.

Predicting shipping locations and time

Predictive analytics gives shippers and customers the shipping time estimation of goods. The companies and customers will know when and where the shipped goods will arrive. The information helps shipping carriers plan their routes and the ports for offloading the goods.

Shipping analytics tools help analyze data and generate shipping reports.

Shipping reports

Parcel or freight shipping analytics information is present in easy-to-understand shipping reports. Businesses can analyze their shipment performance with user-friendly shipping reports. Searching, sorting, and selecting the criteria in each shipment in detail helps shippers.

Multiple shipping reports can narrow the data to a particular time or date. For instance, companies can filter shipping reports by date, service level, carrier, customer, and more. Customized shipping reports help shippers monitor shipping rates and carrier performance.

The calculation of shipping costs is possible with the help of the shipping reports. For example, fees will vary for delivering goods to Zone 2 from that of Zone 8. Shippers can opt for 3PL for last-mile delivery of goods.

Shipping reports provide real-time shipping information that assesses painful points for better operational excellence. They also contain outbound or inbound goods in transit or delivered to the customer. Further, they provide information on old pending bills and time-sensitive shipments. Shipping reports are created based on a company’s needs. Shippers may require personalized reports for quick reference.

Our previous blogs gave insights into the shipping reports offered by Audintel. We also have highlighted four critical shipping reports aiding spend management.

Importance of Carrier Performance Analysis

Shipping reports also help businesses in choosing shipping carriers based on their performance. Shipping analytics tools do a carrier performance analysis. Important factors help assess various shipping carriers’ performance. One of the factors includes ranking shipping carriers on their on-time performance and invoice accuracy.

Further, shippers will get information about the actual cost in the invoices rather than the planned cost. Companies use alternate shipping carriers if the shipping carrier rates affect their profit margins. It will allow businesses to choose the shipping carriers best suited to their needs..

How to analyze real-time shipping performance data

Shippers can monitor and track real-time shipping performance data with data analysis. Intelligent solutions can analyze the shipping data to save money. Factors like order accuracy, inventory tracking (including returns), delivery time, etc., are shipping performance indicators. Better visibility of real-time data gives businesses a clear overview of missed or late deliveries, thus enabling them to take action. In addition, shippers can ensure that the shipping carriers are sticking to their carrier contract agreements.

Shipment automation for optimization

Shipment automation helps in the optimization of business operations. Automating shipping processes can reduce the risk caused by manual processing. Further, it can minimize the costs for re-shipments or returns. Customized cloud-based applications can help businesses track and manage shipments. Automated processes in the supply chain can reduce lead times, optimize inventory control, and improve customer services. Automation can process orders quickly and ensure faster delivery to customers.

Shipping analytics gives insights into supply chain management. Shippers improve their customer experience by understanding historical performance accessible in one place. AI tools can reduce the risk of overstocking while managing inventory levels. It can lead to faster processing time and lessen delays in the supply chain. Shipping reports provide  insights to improve the performance of shipping operations.

Audintel: Experts in shipping analytics

A cloud-managed Transportation Management System (TMS) is essential for automating shipping operations. Audintel provides advanced TMS services to its clients. Our consulting and technology services help optimize routing networks and reduce transportation costs. We help shippers manage carrier contract negotiations to get the best deals.

Audintel provides comprehensive reporting solutions to its clients. Our shipping reports give easy access to shipping data for businesses. Shippers can improve their operational efficiency and reduce shipping spend considerably. In addition, shipping reports are user-friendly and provide cost-effective shipping solutions. We also give customizable shipping reports to our clients to help their businesses thrive. Further, our intuitive dashboards give data, thus allowing our clients to make informed decisions.

Concluding remarks

Leveraging shipping data is transforming the supply chains of many companies. Effective use of data can help bring vast profits to businesses. Shipping reports provide a comprehensive overview of shipping data to shippers. It gives visual insights into your shipping profile and the carrier’s daily delivery performance. Further, shipping reports provide details of your orders by volume, service levels, delivery time, and more. Automation helps businesses streamline their shipping processes.

Audintel has the expertise to help businesses streamline their shipping processes. We will help you understand the complexities of shipping data through your easy-to-use shipping reports. For a free demo and other consultations, contact us at +1 (619) 354 8539 or visit our Audintel website.

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Competitive parcel auditing services: essential for shippers

by BlogSpend Intelligence

With rising inflation and skyrocketing fuel prices, businesses need to economize and improve profitability. Shipping small packages to customers needs scrutiny as service failures lead to higher expenses for shippers.

Affordable patent auditing services are essential to monitoring shipping expenses. Our earlier blog focused on affordable parcel auditing services that reduce shipping costs. This article focuses on the various aspects of parcel auditing services, such as package shipping spend, services offered, and their software.

Affordable parcel auditing services

Parcel auditing analyzes the shipping data of companies and unearths any invoice errors. Parcel auditing services of parcel auditing companies work to fix the invoice errors and get refunds from the shipping carriers. Web-based technology used by parcel auditors spares shippers from purchasing hardware, thus saving money. In addition, parcel auditing services do not involve set-up fees or up-gradation in current technology resulting in cost savings.

Parcel shipping spend

According to the latest reports in business wire, US parcel volume will grow exponentially by 2027. It is due to increasing demand for internet retail. Small parcel shipping is a critical component of shipping systems. An audit on small parcel shipping spend allows companies to save money. Shippers are eligible for a refund from shipping carriers for service failures like late deliveries, invalid surcharges, billing errors, and more. Parcel auditors like Audintel have a real-time dashboard that monitors small packages’ shipping spend while controlling shipping costs.

Outsourcing parcel auditing

Manual parcel auditing is time-consuming and is prone to human errors. So, by outsourcing parcel audit work to a third party, shippers save time as they do not need to track each shipment and file refund claims. Further, the parcel auditors secure refunds for service failures with direct credit to shippers’ accounts. Parcel auditing services provided by a third party give companies valuable insights into their shipping process.

Services offered by a parcel auditing company

Small parcel auditing is a complex process that requires data evaluation at each stage of the shipping process. Parcel auditing companies analyze the parcel invoices from the shipping carriers. In addition, tracking parcel delivery to customers and information about any shortcomings is conveyed to the business owner. Some of the common service failures made by parcel carriers include:

  • Late deliveries: Parcel delivery to the customer beyond the scheduled delivery time
  • Surcharge errors: Parcel invoices with incorrect address correction charges, delivery area surcharge, and other surcharge errors
  • Dimensional weight errors: Shipping carriers levy wrong dimensional weight charges on packages
  • Duplicate charges: Double invoicing for a single parcel shipment
  • Manifested not shipped parcels: Shipping carriers like UPS charge for a package manifested but not sent to its destination
  • Deviation from negotiated shipping rates and discounts: Parcel shipment with different shipping rates and discounts.

Parcel auditing services offered by parcel auditing companies provide effective solutions for service failures. They inform business owners about billing errors, changes in shipping rates, additional surcharges, etc. Parcel auditors use intuitive auditing software that automatically notifies any discrepancies in the shipping process.

Small parcel auditing software

The tracking and monitoring of each small parcel shipment use cloud-based shipping software. The data analysis improves shipping spend management and curbs excessive expenses. In addition, the software monitors the performance of shipping carriers, identifies invoice errors, and files for unclaimed refunds. Shippers reduce their parcel shipping spend and improve their shipping operations with ease.

Freight audit software

Freight audit software minimizes complex freight auditing processes. Due to the automation of the freight audit process, labor decreases, and cost-efficiency increases. The shippers get greater clarity of their shipping expenses. Also, there is streamlining of the shipping process. Further, automatic uploading of the shipping documents into the system helps track invoices efficiently. Freight audit software benefits many industries such as manufacturing, pharmaceuticals, construction, electronics, etc.

The software used by parcel auditors improves customer satisfaction and increases brand loyalty, which benefits shippers’ businesses.

Benefits of using Audintel’s services

Parcel auditing services of Audintel are economical and customized to cater to our client’s needs. We provide greater transparency to our clients by using their shipping data. Audintel has more than forty customized dashboards and shipping reports for our clients. Our team uses updated, secure technology to track and monitor the shipping data of our clients. We assist business owners in negotiating the best carrier contracts and saving money. Companies benefit tremendously by partnering with Audintel as it honors their parcel delivery commitments to customers. We help shippers receive refunds promptly from shipping carriers for service failures and increase their profits.

Final thoughts

Small parcel delivery services like FedEx and UPS do not always stick to their delivery commitments. It impacts the shippers as they have to deal with angry customers. Companies offer extra credit or special offers to keep customers happy, thus involving double expenses. Audintel’s parcel auditing services give companies a helping hand in receiving all the refund credits from shipping carriers. To know better about the full extent of our parcel auditing services, contact us at +1 (619) 354 8539 or visit our Audintel website.