"Our customers have come to rely on our prompt and accurate freight audit and payment services, as well as our leading-edge transportation, spend management analytical tools, and technology"
Luther Brown, nVision Global’s CEO mentions, “When we collaborated with this customer, things were not running that smoothly. They were facing difficulty gaining access to their global freight and payment data, which made it nearly impossible to determine the company’s overall freight spend.” Compounding their issues was the fact they assigned general ledger codes to their freight invoices manually. To resolve these burdens, nVision Global was selected as their partner and provider for the audit and payment of their global freight invoices. By utilizing nVision Global’s expertise and technology, a configurable solution was built that enabled this customer to plan their shipments systematically, select the optimal transportation provider based on their routing guide and business rules and to ultimately have their freight invoices to be audited to ensure the correct charges were billed and the proper payment issued. Along with all of these benefits, the customer now has access to all of this global data to perform further analytics to drive cost reduction and supply chain optimization projects. nVision Global also assisted them in developing an automated general ledger coding process as well as an automated process to ensure transportation provider payment terms were adhered to for all invoice payments. “As with other customers, cash flow has been improved by the demonstration of best practices in managing payment terms with transportation providers. This process is facilitated by gaining visibility to the details of each freight invoice, including the invoice date and the payment terms,” states Brown.
Although this global customer was skeptical to partner with a third party provider, they are now reaping the benefits of nVision’s technology and services. Having access to detailed supply chain data has enhanced their decision-making process, along with significantly reducing the invoice approval process time through the use of nVision Global’s web-based Resolution tool. Invoices requiring approval are automatically routed to the appropriate personnel using pre-defined business rules, which eliminate the manual process of having to scan, email, or fax invoices for approval. The visibility and transparency provided by the nVision process has allowed this customer to eliminate payment issues with their global transportation providers, who sometimes held freight due to non-payment of invoices. The success that this global customer has realized through its partnership with nVision Global stands as a testament to the fact that nVision Global is the leader in providing global freight invoice audit, payment, and transportation spend management services. As a global business partner, nVision Global not only provides a prompt, accurate freight payment solution, but also delivers industry leading information management services that allows its customers to maximize efficiencies in their supply chain.
We offer end to end services and technology such as rate procurement, contract management, pricing reviews, invoice audits, TMS, benchmarking services, rate negotiations and routing guide development
Since its inception, nVision Global has been paving the way for a successful tomorrow for organizations struggling with challenges ranging from decentralization, lack of information, and lack of real-time visibility throughout their supply chain. “Customers internally lack communication throughout the organization; the knowledge of how to apply general ledger allocation to their appropriate business units; lack standard business rules for freight invoice processing; typically have no automated processes to apply those business rules; often are unable to obtain complete and accurate historical shipment information, and they typically do not possess the technology required to allow for all of these activities to work in a global environment” says Brown. nVision Global’s solutions deliver real-time visibility, which in turn allows comprehensive benchmarking exercises and improved procurement opportunities.
nVision Global’s technology enables customers to automate their freight audit and payment processes, while providing in-depth reporting capabilities not previously possible. The company’s enhancements to the freight audit industry over the years have enabled customers to become more efficient, reduce their freight costs, prevent incorrect payments, generate analytics that drive critical decisions, reallocate valuable resources to revenue-generating roles, and to ultimately become more profitable.
The Perfect Amalgamation of Service and Technology
As a company which has saved customers more than $1.5 Billion by utilizing its freight audit and payment solutions over the past26 years, nVision Global has become the expert in managing invoices for all modes and services of transportation, from all over the world, in any currency, and in most languages. The company’s Sarbanes-Oxley compliant, all-inclusive solutions allow organizations to access nVision Global’s broad experience and technology that has taken them from a regional freight audit and payment service provider, to its current role as the leading global provider of invoice audit, payment and transportation spend management services. “Our customers have come to rely on our prompt and accurate freight audit and payment services, as well as our leading-edge transportation, spend management analytical tools, and technology,” says Brown.
At the core, nVision Global provides its customers with an average annual savings of 10-15 percent of their freight spend through its proprietary technology and programmatic rate audits. nVision’s technology ensures the most prompt, accurate, and complete management and audit of the customer’s freight invoices. The entire process is enhanced by the nVision Global’s expanded data capture services, which provides customers with immediate enhanced and actionable business intelligence. nVision Global’s services and technology go hand in hand to identify freight invoice billing errors, duplicate payments, and opportunities to improve operational efficiencies, which results in providing greater visibility throughout the customer’s supply chain.
Tailored to fit the Customer’s Needs
A primary strength of nVision Global’s solution is the ability to provide automated, accurate, and efficient cost allocations. While the business rules to apply cost allocations is customer driven, nVision Global’s application excels at analyzing the ambiguity presented on invoices, and then integrates that information with client provided reference data to deliver an automated, accurate and efficient cost allocation process. Additionally, the system is adept at generating split allocations across multiple accounts and providing custom file feeds to the customer’s specific accounting system.
The Collaboration Site
To benefit both customers and their transportation providers, nVision Global has designed online exception management tools that provide a user friendly, interactive process to address invoices that require more information and/or approval prior to payment. Any invoice that does not meet specific business rules is placed through an extensive three-step audit by the nVision Global team. This audit process includes a number of processes within the application to help nVision Global in determining the correct application of the customers’ business rules and requirements. At the conclusion of this audit, invoices are either approved for payment or posted to nVision Global’s web-based exception management resolution site.
For regions of the world where invoices cannot be short paid, nVision Global has introduced their online Collaboration portal. “The dictionary defines the word Collaboration as the act of ‘working jointly with others in an intellectual endeavor.’ This phrasing serves as an excellent introduction to describe nVision Global’s latest technology development: The Collaboration Site,” states Brown. nVision’s Collaboration portal provides each party in the invoicing lifecycle with an interactive and vital role in the invoice resolution process. Customers and their respective transportation providers are provided direct online access to work with nVision Global staff to resolve any invoicing disputes in real-time. This solution provides transparency and visibility to all parties involved and ensures that payments are issued to transportation providers as expeditiously as possible.
Conquering the Present.Setting out for the Future.
With a global team of 500 plus associates, along with seven brick and mortar offices located on multiple continents around the world, nVision Global has the ability to not only answer customer questions in local languages, but to also address customer’s suppliers and transportation provider’s inquiries with dedicated customer service representatives. “nVision Global is not only a freight audit and payment provider, but we offer end to end services and technology such as rate procurement, contract management, pricing reviews, invoice audits, TMS, benchmarking services, rate negotiations and routing guide development. Our customers view us as a resource they can rely on for supply chain questions and advice,” adds Brown. Further, nVision Global’s leading-edge technology is supported by a team of dedicated developers who perform frequent updates as needed.
nVision Global is constantly upgrading and enhancing its tools with the benefits of new technologies and requirements that are driven through our customer and transportation provider relationships. nVision Global’s technology roadmap over the next 12 months includes developments such as enhancing cloud-based applications for global customer reach, track and tracing global shipments using GPS and EDI/ API connectivity enhancements for secure data transmission worldwide just to name a few. “These developments reflect a portion of our commitment to providing our customers with technology value adds that are designed to improve access to information and reduce overall global transportation spend. In regards to our geographical expansion, although we are currently a global entity, we are constantly reviewing other countries and continents such as Africa to grow our footprint,” concludes Brown.