The evolving industry of Freight Audit and Payment

CP

CP

September 30, 2016 - 19:09

Is managing freight expenses in-house current day still a solid practice? In this post we look at the evolving market of freight audit and payment solutions and the future of the industry.

The pain or gain of the globalization of financial supply chains

Today's transportation environment is becoming more global and this shift is also noticeable for financial departments of companies that ship globally.

Freight expenses make up a significant segment of the financial supply chain. Businesses shipping goods can significantly improve performance and gain expert insights that will lead to competitive advantages by clearly understanding the financial ramifications of shipment flows.

Freight Payment and Auditing: Solutions for Lean companies

Companies trying to manage freight costs and spend in house are risking to miss out on serious logistics costs savings. This is why many logistics and finance departments of mid-size and large enterprises are seeking Freight Payment and Audit providers. To help them build a structure in Transportation payment flows and give them full control and transparency. For both the Logistics and the Finance department.

Freight payment and audit systems are often used by manufacturers and logistics integrators to process, audit, verify and correct freight-related invoices, as well as execute their payment - typically via self-billing. But next to those core services, Freight Audit Providers offer invoice processing, analytics and reporting, freight optimization, Freight Tenderand other services and solutions.

ControlPay celebrates 12th anniversary of FRED

ControlPay - Global Freight Audit and Payment is over 13 years active in the FA& P sector. The company, with its headquarters in Breda, the Netherlands, was established by Karel Kinds and his son Pieter Kinds to support large multinationals in managing the complexities of freight billing. ControlPay's self-build Freight Audit System is currently used by many multinational firms, as well as some of the largest carriers.

According to Pieter Kinds, director of business development at ControlPay, the main aspects of freight audit providershas always been the need to build the system around the shipment and the data that it creates. The logistics data is the “main element” of the freight auditing process.

“With this philosophy in mind we have created our freight auditing system. But moreover, it works as the common thread throughout everything we do, our approach to clients and all documents and functions on our audit platform. By working in this fashion, we guarantee full freight transparency and logistics visibility".

Although the benefits of FAP systems in general are divers from company to company, depending on their complexities, system landscape and carrier base, good freight visibility and data visibility are of growing importance for most companies looking for an outsourcing solution.

“It enables users to optimize their carrier (data) base, reduce complexities in rate structures and use solid and clinical data in transport tender processes and negotiations. Next to that, eliminating overbilling in freight invoices has ever been a key-driver, as well as ensuring on-time payment. carrier compliance and performance measuring are also aspects that get more and more attention.”

Kyiv mayor Vitaly Klitschko opening the Kyiv Post Job Fair 2016 together with ControlPay Global Business Director Pieter Kinds

Riding the road of the future: Freight Audit & Payment

With a view on the future, Kinds is convinced that the 'people aspect' of Freight Audit and Payment software systems will also be more influential over the upcoming years."Freight audit is indeed a managed service, but I believe that there is an “increasing need for deep logistics knowledge to support global companies with network changes, rate and contract optimisation and overall simplification of the logistics set-up”.

“There is often a lack of focus and resources to strategically optimise the structure and putting out fires on a daily basis is what is done mostly. A strong Freight Auditing partner can differentiate his business by adding supporting services and consultancy to his portfolio to help to change this.”

Freight Audit: understood or underestimated?

What to look for in a Freight Audit and Payment Provider

Freight Audit and Payment providers can support the finance and logistics department of companies by streamlining operations and improve a companies bottom line. As a global Freight Audit company, we advice to make a thorough selection of possible providers, before engaging a RFQ /RFP.

It makes sense to identify the core services very single FAP offers, and the to identify the core qualities with regards to extra services, geographical strength and financial stability.

Contact ControlPay now for more information

If you are looking for a global or EMEA Freight Audit Provider, or Logistics Visibility Solutions, please don't hesitate to contact us. For more information about our service offering, click on our services page in the top menu.

This website uses cookies

ControlPay and our partners place cookies on this web site and use non-sensitive information from your device in order to improve our products and personalize ads and other website contents. Because we respect your right to privacy you can choose not to allow some types of cookies. However, blocking some types of cookies may impact your experience on the site and the services we are able to offer. For more information about cookies, please refer to the below content:

You can make a choice here and change your preferences at any time in our Privacy Policy on this website.

Decline All Accept
Necessary cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can change your browser settings to disable these cookies, but it may affect your ability to access and use the site. These cookies do not store any personally identifiable information.

Used cookie

User experience
Description
Stores authorization of users who log in admin panel
Host
controlpay.com
Duration
Expires in one day
Type
http
Analytics cookies

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site. They help us know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies, we will not know when you have visited our site.

Used cookie

Google Analytics
Description
Google Analytics cookie which is used to identify stream of visitors to our website
Host
controlpay.com
Duration
Expires after 2 years
Type
http
Marketing cookies

Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

Used cookie

perk0mean.com
Description
Tracks the individual sessions on the website, allowing the website to compile statistical data from multiple visits. This data can also be used to create leads for marketing purposes
Host
secure.perk0mean.com
Duration
Expires after 3517 days
Type
http
youtube.com
Description
Youtube cookie
Host
youtube.com
Duration
Expires after 1 year
Type
http
This website uses cookies

We use cookies to optimize the website functionality and give you the best possible experience. You can make your choice here and change your preferences or decline all cookies at any time in our Privacy Policy on this website.