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.”