What is Freight Auditing and how can it help your Company?
INFOGRAPHIC - There's more than one way to skin a cat when looking at controlling logistics costs and optimizing transportation management. Carefully controlling your shipping invoices is one of those methods, whether it's during the pre or post activities of your freight shipping.
By conducting consistent audits, you will rule out overbilling, be capable of selecting the most efficient carriers, gain strength in future rate negotiations and overall, choose the best transportation strategy for your company. For many companies, outsourcing could be the most economical way to properly audit and process freight invoices.
Not only Fortune 500 companies with freight budgets ranging from 100 million to 1 billion EURO are typically interested in freight audit services, but also companies with a freight budget of 5 million EURO and up now start to realize the that there is money to be saved in logistics via freight audit outsourcing services.
Because of rising logistics costs, companies are looking for effective ways to be in better control of transportation processes. Costs for everything from hiring truck drivers to storing goods in warehouses are primed to rise, driven higher by an improving economy, reduced capacity and coming interest-rate increases, said Rosalyn Wilson, author of the Council of Supply Chain Management Professionals’ annual State of Logistics report.
The report, which measures the total transportation and logistics spending, shows businesses have kept supply chain costs tamped down tightly since 2009 as the economy has moved forward in fits and starts. But the industry is about to pay for its lack of investment, as improving growth drives up demand for consumer goods, industrial equipment and other products. Shipping volumes will soar, and capacity will struggle to keep up, particularly in the trucking business, which already faces a driver shortage.
Also according research of inboundlogistics.com, freight costs can make up 10% of an organization’s expenditure. As a consequence of rising freight costs, an increasing number of organizations has been more pro-active in controlling freight cost and have outsourced the freight auditing process to freight audit specialists.
About ControlPay - The largest Freight Audit provider in Europe
ControlPay is the leading Freight Audit Service Provider in Europe, working globally for many well-known multi-nationals. Our focus is aimed at serving our clients in Europe and to support their needs globally while increasing our value-added service portfolio as we see there is a strong need for additional services. Examples of our innovative approach are our transport order platform and the supply chain finance services we will offer.
ControlPay saves your organization costs on labour and on average 3% on the actual freight costs.
ControlPay does not only audit the invoices from your logistic service providers, but also enhances the business processes around freight costs settling. From contract implementation to cost calculation, issue resolution, invoice reception, registration, audit, automatic cost allocation and automatic posting of the invoice , ControlPay serves the full trail from Transport Order Booking to Final Payment.
Our online freight audit platform gives you 24/7 insight in your accruals, status of the transport and status of the invoice or payment. We support efficient processes like SelfBilling and take away all the hassle and labour you have around invoice audit.
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