From simple reporting to Business Intelligence: Freight Audit at its best

Rolf Bax

Rolf Bax

July 29, 2019 - 15:51

business intelligence benefits by freight audit

Reading time: 5 minutes. Contains 677 words

What is Business Intelligence?

Business Intelligence is a set of theories, methodologies, processes, architectures and technologies that transform raw data into meaningful and useful information for business purposes.

From simple reporting to Business Intelligence

From the very beginning of ControlPay, we have always realised that Freight Audit goes way beyond cost-reduction by way of Audits. There is no doubt there are savings in various segments, but the main benefit is achieved through the visibility offered by Freight Audit and BI by extension. Freight Audit providers usually offer basic reporting functionalities even though technology has a lot more bows to its string nowadays. We are convinced of the increasing significance of Business Intelligence. According to a recent study (2019 3rd party logistics study), approximately 75% of shippers and 3PLS indicate they want to invest in supply chain visibility/control towers within 2 years. The major technological growth underway right now shows that logistics are changing at the hands of data-driven insights. Elaborate dashboards, reports and in-depth analyses are default offerings from professional Freight Audit businesses. Being ahead of the market means using ready-made data for a comprehensive insight into your clients’ logistical costs.

How to collect data from your systems

Multinationals commonly work with several IT systems and data may originate from various companies and/or countries, and currencies may also differ. The fact that most data is gleaned from various sources is the most significant factor. Freight Audit providers are top of the chain when it comes to know-how on obtaining data and using these data for Business Intelligence. Common starting point is collecting and normalising data, so that the most important data can be analysed for reporting purposes. The Freight Audit Process is the perfect platform for achieving this: Comprehensive insight and transparency from all logistics data.

Genuine data: wheat from chaff

Not many people realise that Freight Audit brings to light the data that matters most to your organisation. It raises your supply chain to a higher level and more importantly: it provides an advantage over your competitors. Unoptimised BI equals disregard for extremely valuable information and insight in your supply chain. Moreover, Freight Audit brings about closer alignment of the logistical, financial and operational departments, as Freight Audit provides enhanced insight to these individual segments and supports daily activities. Data mapped by Freight Audit providers that genuinely add value:

 business intelligence benefits by freight audit

Advantages of Business Intelligence

BI offers you 24/7 insight into your data and can also be prepared for you automatically. The Audits also check these data beforehand. The insight you get offers the opportunity to improve your supply chain efficiency and to reduce your costs. A simple login provides access to the most valuable information and an ad hoc report requires little more than drag & drop. The data are visualised in real-time, allowing you to convert the KPIs for your logistics organisation into actions. Better data facilitate better decisions and of course, they also provide immediate insight into your Freight Audit provider’s performance. Finally, BI creates a perfect insight into trends and deviations, either as an overview or in detail.

Bespoke Business Intelligence

Business Intelligence offers much more than merely the built-in, default reports from the examples above. Customised reports are an option. This could include a one-off ad hoc report or a periodic overview for management consultations. Find a Freight Audit provider who is flexible and relishes involvement and anticipation. They can also arrange for reports to be automatically generated when you need them. If desired, the output is available as an Excel sheet or a PDF, for example. A comprehensive global overview is an option, combining both incoming and outgoing freight from across the world.

About ControlPay

ControlPay has been the Freight Audit provider for multinationals since 2002. In addition to our development of Freight Audit software, we are best-placed to be experts on the ins and outs of logistics and the supply chain: our team of 250 colleagues is ready to provide insight into your transport data to support you at tactical or strategic level. Check out more information about our Business Intelligence service or our blog about 10 best practices of Freight Audit

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- Infographic ControlPay Business Intelligence