Global Freight Audit Platform
At the offices of some of the world’s largest global shippers, you’ll still see clerks poring over freight bills trying to spot discrepancies.
The question is: Why, when proven, automated processes exist that generate far more accurate results for a fraction of the time and effort?
Downside of Manual Freight Audits
- Inefficient use of resources. An American Shipper Study (in conjunction with the National Retail Federation and the Retail Industry Leaders Association) found that the cost to manually process a global freight invoice was 53% higher than the cost of using an outsourced partner with an automated process.
- Costly errors. Rate sheets used for comparisons are often outdated and, if the quantify and sizes of containers are wrong, the invoice can look right, but still be wrong.
- Unsolved problems. Short paying an invoice when a discrepancy is found doesn’t resolve the issue with the carrier – a short/over claim is coming.
- Reduced working capital. Overpaying and paying before payment is due diminishes cash flow.
To learn more about the downside of manual processes for global freight audits, read our white paper: 5 Worst Practices for Managing Global Freight.
A Better Way: Automate the Audit Process
Acuitive’s pre-payment global freight bill audit module receives data inputs from carriers, 3PLs and forwarders, and then automatically validates the correct invoices and isolates discrepancies. It’s a highly transparent, granular process that audits 100% of all freight bills, prompts carrier self-correction prior to payment, and reduces the time and cost of administration.
Case in Point
According to the CFO of a Top 30 North American Importer that moves 35,000 FEUs annually, the company saw a hundred-fold payback on the software investment.
“We moved from a 1950s, paper-based process for freight bill auditing to a modern, data-driven approach that freed up time and allowed us to engage the problem-solving ability of some of our best people.”
How Do Things Change with the Acuitive Platform?
- Minimizes human intervention – see how Jo-Ann Stores automated and improved the ocean freight audit process.
- Standardizes the process, giving you complete control over global freight audit and payment – learn about our easy, 6-step audit process.
- Provides easy access to shipment history data
- Automates and adapts payments based on the credit terms and payment schedule you have negotiated
- Automates screening and detection of duplicate and missing invoices
- Improves management visibility – monthly reports document actual savings captured for clear, accurate ROI data
- Integrates automatically with most of the world’s major carriers and 3PLs – see our partner list
- Simplifies the dray audit process – Acuitive has created a dray audit module to help shippers deal with this task, made more complex with ocean carriers’ exit from the chassis business
Bottom Line Benefits
- Save money – Acuitive averages $1.4 million in discovered discrepancies per month. For one customer this was 18% of total invoicing.
- Reclaim unproductive time – 99.5% of invoices get approved without your involvement.
If you’re frustrated that your global freight audit process is time-consuming and error prone, we’d be happy to discuss your current process and assess the improvement potential. Contact us to arrange a preliminary call.