Freight Audit and Payment Services
Does your supply chain business face challenges like invoicing errors, complex contracts, delayed payments, and disparate systems? These hurdles may lead to financial discrepancies, strained vendor relations, operational inefficiencies, and increased administrative workload. You need a perfect partner to pull you out of these challenges. Our freight audit and payment services will help you with invoice auditing, cost validation, accurate payment processing, and detailed reporting.
Years of Experience
Industry Verticals
Experienced Professionals
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Outsource Freight Audit and Payment to the Expert
As a seasoned freight audit and payment services provider, we have excelled in delivering services to a global clientele since 2000. Our experts have assisted businesses in overcoming challenges related to accurate invoicing, rate benchmarking, compliance management, and efficient payment processing. A list of our services includes invoice processing, carrier payment, rate verification, audit and discrepancy resolution, freight cost allocation, and more.
Our services are backed by several crucial steps for effective logistics management. First, we receive invoices from carriers. Next, the invoices are verified against agreed-upon rates, contracts, and services rendered. After verification, our team identifies discrepancies and reconciles them. Then, the validated invoices are processed for payment. This step includes allocating costs to the appropriate departments or cost centers. Finally, payments are made to carriers within the agreed-upon terms.
We have a large team of dedicated professionals with in-depth industry knowledge and experience in logistics operations. They utilize transportation management systems (TMS), audit software like Cass and A3, and ERP integration for seamless processing. The team leverages quality control techniques such as verifying invoices against contracts, scrutinizing rates, and confirming proper documentation. It also encompasses compliance with regulatory requirements. It is because of these checks and quality measures we are able to deliver a freight invoice accuracy rate of over 99%.
Our Comprehensive Freight Audit and Payment Services
- Invoice Verification
- Contract/Rate Management
- Payment Processing
- Claim Management
- Accruals And Gl Coding
- Rate Benchmarking
- Rate Optimization
- Invoice Consolidation
- Technology Integration
- Invoice Audit Services
- Freight Bill Processing
- Dispute Resolution
- Rate Negotiation Support
- Credit And Overcharge Recovery
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Invensis Advantage for Freight Audit and Payment Outsourcing
Invensis - The Most Trusted Freight Audit and Payment Company
With over two decades of experience, Invensis has been a trusted provider of comprehensive freight audit and payment services worldwide. Our clientele spans across logistics, supply chain, distribution, and warehouse management. Our end-to-end support has empowered clients to gain unparalleled visibility into their supply chain. This has been possible due to our highly skilled professionals, customer-centric approach, adherence to industry best practices, and the integration of cutting-edge technologies.
- Efficiency and Timeliness: Freight audit and payment services streamline freight audit and payment workflows, and automated payment processing enhances efficiency, leading to faster turnaround times in auditing and settling freight invoices.
- Data Accuracy and Visibility: Freight invoice audit services leverage advanced technologies to enhance data accuracy, providing real-time visibility into freight-related financial transactions and analytics.
- Compliance Adherence: Outsourcing freight audit and payment services ensures compliance with industry regulations and contractual agreements, mitigating the risk of penalties or disputes related to non-compliance.
- Focus on Core Competencies: By outsourcing freight invoice audit services, businesses can redirect internal resources to emphasize core competencies and strategic initiatives, fostering overall business growth.
- Vendor Relationship Improvement: Efficient freight audit and payment services contribute to timely payments and accurate financial interactions with freight vendors, fostering better relationships and potentially leading to favorable terms.
- Advanced Data Analytics: Freight audit and payment services are increasingly leveraging advanced analytics tools to extract actionable insights from freight data. This includes trend analysis, cost-saving opportunities, and performance benchmarking.
- Blockchain Integration: Blockchain technology is gaining momentum in freight audits and payments to enhance transparency, security, and traceability in freight transactions. Blockchain can streamline payment processes and reduce disputes.
- AI and ML Integration: AI and ML technologies are being employed to automate and optimize Freight audit and payment workflows. These technologies help in predictive analytics, anomaly detection, and continuous improvement of auditing processes.
- Cloud-Based Solutions: Cloud-based freight audit and payment solutions are becoming more prevalent, offering scalability, real-time access to data, and improved collaboration among supply chain partners. Cloud platforms facilitate seamless integration with other logistics technologies.
- Global Compliance Management: With an increasingly complex regulatory environment, freight audit and payment services are focusing on global compliance management. This includes adherence to customs regulations, trade compliance, and regional tax considerations.
What Our Customers Say
Invensis' order processing management team has helped us improve our customer satisfaction levels beyond measure. We can now track our orders more efficiently and provide our customers with better visibility into the status of their orders. The team is also very responsive to our queries and concerns.
We were looking for a complete order management solution to handle our growing customer base. Invensis has not only met but exceeded our expectations. The team is very professional and always available to resolve any issues we may have.
Invensis has streamlined our order management process and provided such valuable insights into our customer relationships that we have seen a significant improvement in our customer satisfaction levels.
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