logisticstechoutlook

Top 10 Freight Audit And Payment Solution Providers - 2018

 

The constant fluctuations of the freight pricing, fuel and accessorial rates, as well as time-consuming manual auditing methods are complicating the freight billing process. According to popular research, one out of every four freight bills contains an error that could affect companies bottom-line. To overcome the overpaying issue and gain more profound insights into logistics flows, organizations today need streamlined and automated freight payment solutions.

By automating the billing and auditing process, organizations can minimize efforts or time for completing medium to high volume invoice review, identify invoice errors quickly and improve supply chain optimization. To meet the changing demands of shippers, freight auditing companies today are expanding their service offerings. The service offered by organizations have evolved beyond audit, featuring a cloud-based business intelligence reporting engine, contract negotiation, and advisory services that includes systematic identification and optimization of current processes to drive efficiencies, reduce spend, and increase end-customer satisfaction levels. By utilizing online data mining and analytical services, freight organizations allow shippers to optimize the use of transport management systems. With help of freight solutions integrated with intelligence, customers are now able to identify modal optimization opportunities, gain visibility into accruals, monitor critical KPIs, and even understand how service exceptions can impact customer retention.

This edition of Logistics Tech Outlook features companies that are at the forefront of offering Freight Audit and Payment solutions. In the last few months, a distinguished panel comprising of CEOs, CIOs, VCs, and analysts including our editorial board reviewed the top companies in the domain, and shortlisted the ones that are at the helm of tackling challenges in the freight audit and payment domain. The companies compiled in this issue have exhibited extensive business process knowledge, along with in-depth, integrated, and innovative strategies in the space.

We present to you Logistics Tech Outlook’s “Top 10 Freight Audit and Payment Solution Providers - 2018.”

Company Logo Company Name Company Description
Alexandretta Transportation Consulting Provides global transportation spend management services to consistently drive significant cost savings from shippers’ transportation budgets
Data2Logistics Provides a pre-audit and payment solution that includes receiving freight invoices electronically, allocate freight charges to appropriate cost center and GL accounts, provide payment processing, and so on
Fortigo Provides freight auditing software for EDI and non-EDI systems to review freight bills and identify data inaccuracies
FreightWise, LLC. Partners with companies of all sizes to reduce transportation costs & improve carrier performance in all transportation modes
Global Transportation Management Solutions Provides a web-based transportation management system that helps the customers manage their logistics spend from shipment creation all the way to payments
Intelligent Audit Provides best-in-breed transportation invoice auditing technology and advanced spend analytics aimed at helping clients reduce costs, improve processes, and ship smarter
IPS Worldwide Builds customized reports to provide clients with the data they need to understand endless arrays of data including transportation spend, shipping trends, and carrier billing accuracy
Northern Continental Logistics Designs innovative services to implement and overcome the challenges in freight audit and payment
nVision Global Technology Solutions nVision not only provides a prompt, accurate freight payment solution but, industry-leading information management services necessary to help organizations maximize efficiencies within their supply chain
RateLinx Provides clients with complete visibility into their supply chain in real time, allowing them to develop and deploy strategies that increase efficiency and reduce costs