Nowadays most companies are leveraging worldwide logistics to spread their footprints globally. Companies will incur huge costs in transportation hence Transportation Cost Control is required to be competitive in the market. To optimize cost and overcome the freight logistical and operational challenges, industries are consulting freight audits and payment companies.
Freight audit and payment companies will help identify the challenges industries are facing with respect to logistics and operations.
Common freight logistical and operational challenges
Dealing with Bulk Data:
The number of shipments is increasing day by day and the companies use multiple carriers for shipment which leads to the bulk of invoices. The amount of paperwork backup required to validate the charges increases tremendously which is impacting the amount of time required for freight reconciliation and also on-time payments. Hence affecting supplier/partner relationships and hugely impacting business.
Improper Freight Billing:
If the carrier contact information or weight information on your bill of lading is entered incorrectly, carrier obtains inaccurate shipment information and that can lead to a number of consequences such as delayed delivery and overcharging on the freight bill. Audintel uses advanced business intelligence solutions to achieve 100% correct billing.
Higher Shipping Rates:
Shipping cost is one of the major contributors to overall Inbound and outbound logistics costs. Shipping expense is something every company has to worry about. We need to be careful in choosing the right carrier and right shipping mode when transporting goods to larger distances as this will incur higher costs. Audintel analyzes the market data to determine how well a carrier is performing and compares the cost of transport against different carriers. Audintel also helps in making tactical and strategic decisions by choosing the right carriers with the lowest cost possible.
Companies have access to lots of data at the same time it became difficult to get easily accessible information. Visibility and understanding of data are very important for companies to make the right decisions.
Dashboards are an important component of Auditing companies. Audintel provides new dashboards highlighting a variety of data including shipment overview, annual summary details, audit activities, net spend, etc…
How do Freight Audit Companies help in freight logistical and operational challenges?
Freight audit companies examine the freight bills to verify information on invoices and ensure that the invoice has not already been processed using EDI (Electronic Data Interchange). By automating Freight reconciliation, we can eliminate paperwork and errors caused through manual work. If errors are found on the invoice Freight audit company reaches out to the carrier and ensures corrected invoices are sent whenever errors are found in invoices.
According to third-party logistics research, lowering transportation costs is at the top of the list of logistics sector priorities. Increased optimization using advanced shipping analytic tools makes it easier for the clients to choose the cost-effective carrier and analyze data to determine how well a carrier is performing.
Using BI, Visualization, and Data analytics to spot trends, Audintel provides powerful and interactive Dashboards for clients. Dashboards are also featuring drill-down functionally. At the highest corporate level, the dashboards are designed for the client to view the graphs. It also provides graphic breakdowns of your current rate sheets, so you can quickly see what your rates are with each carrier.
Streamlining invoice processes, reducing costs through invoice audits, and providing actionable insights are just a few of the benefits. All of the steps that were previously completed manually can now be completed using the services of a freight provider and their automation.
Audintel provides shipping logistics companies full visibility of their supply chains and manages their resources efficiently. Features like Freight Audit, optimization, selection of carriers and data transparency helps customers in choosing the best suppliers. To learn more services provided by Audintel, contact us at [email protected] You can also learn about our services by visiting Audintel Website or call us at +1 (619) 354 8539.