Solutions

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 Rate sheets used for comparisons are often outdated and, if the quantify and sizes of containers are wrong, the invoice can look right, but still be wrong.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.

 Let’s Talk

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.

Worst Practices for Managing Global Freight

Find out how manual, paper-based processes drain efficiency and profits –
and what to do about it.