Intelligent Audit: Redefining Freight Audit

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Yosie Lebovich, CEO , Intelligent AuditYosie Lebovich, CEO
In today’s complex world of shipping, automating the shipping process, increasing supplychain visibility, and reducing freight-related expenses have been the top priority for all businesses. As freight operating costs take a significant bite out of the company's total expenses, auditing has become imperative to identify and correct freight bill errors that invariably crop up. However, the vast amount of data maintained across a multitude of vendors in disparate systems poses a great challenge in auditing for freight managers. The more data that a company must analyze, the more likely there will be anomalies within that data that will negatively impact accurate calculations. To make use of this data efficiently, organizations need powerful BI tools, which can not only identify anomalies within their operations but also uncover cost savings and inefficiencies.

One company making great strides in improving overall supply chain efficiency and uncovering opportunities for cost reduction through automated freight audit and payment solutions is Intelligent Audit (IA). Having over 25 years of industry experience, IA is well-positioned to revolutionize the freight audit and payment space by automating administrative duties and becoming proactive strategic partners regardless of the industry. “Our mission is to empower our customers with real-time, actionable information that helps them become smarter shippers while reducing time in transit and transportation costs along with improving the end customer experience,” says Hannah Testani, Chief Operating Officer of Intelligent Audit.

IA's automated freight audit and payment solutions are powered by innovative anomaly detection functionality that identifies issues at a level never seen before.

Our mission is to empower our customers with real-time, actionable information that helps them become smarter shippers while reducing time in transit and transportation costs along with improving the end customer experience

The company has also developed complex proprietary data normalization techniques, which provide IA’s customers with the most useful, clean output for data mining and advanced analytics. “Our ultimate objective is to reduce the inefficiencies involved in manual data processing and cleansing to ensure that the data is actionable. We also enable our customers to use clean, normalized data to become smarter, more efficient shippers,” emphasizes Testani.

The sophistication of IA’s technology solution can be best illustrated by the following use-case: A fortune 500 company in the telecom space was struggling with the vast amount of freight data generated from its large footprint and customer base. In particular, they wanted to identify, in real-time, the various delivery exceptions impacting its customers. Leveraging IA's real-time exception management tool, the client was able to determine whether or not an exception was controllable, identify the responsible party, and decide what action should be taken. With this information, the telecom company was quickly able to address issues impacting customer experience in real-time, as well as make the appropriate changes to controllable exceptions in order to mitigate damage and ensure they don't reoccur in the future. As an example, when a carrier reported that an item was damaged in transit IA's real-time exception management tool notified the shipper immediately and recommended the shipper proactively send a new item to the customer instead of reacting to the eventual complaint of a dissatisfied customer.

IA is constantly exploring ways to harness the full potential of new and emerging technologies such as big data, machine learning, and blockchain to enhance its offering. “We intend to focus heavily on data and analytics because the trend of leveraging big data to make smarter decisions is here to stay. Our core competency is our technology and we continue to view investment into that as our greatest asset,” concludes Testani.

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Top 10 Freight Audit and Payment Solution Companies - 2020

Intelligent Audit

Rochelle Park, New Jersey

Yosie Lebovich, CEO

Intelligent Audit is a data analytics, business intelligence, and freight audit business, with a wide range of services available to clients looking to reduce costs, improve customer satisfaction, and discover new strategic opportunities to apply across their organizations. Intelligent Audit has helped companies across all industries uncover opportunities for cost reduction and supply chain improvements through automated freight audit and recovery, business intelligence and analytics, contract optimization, and more