As a Managed Transportation Solutions provider, FreightPlus recognizes that efficient freight audit and payment processes are crucial for managing transportation costs. In today’s complex transportation landscape, businesses must navigate through various carrier contracts, invoices, and payment terms, which can lead to errors and discrepancies in invoicing and payment. This is where a Transportation Management System (TMS), as part of a Managed Transportation Solution (MTS), can play a crucial role.
By incorporating a TMS into a MTS, businesses can benefit from a comprehensive approach to managing their transportation operations, including the freight audit and payment process. A TMS has the capability to automate the freight payment and audit process, reducing the time and resources needed for manual auditing and payment activities. It provides real-time visibility into carrier rates and contract terms, allowing businesses to validate invoicing and ensure accurate payment processing.
Here are some ways in which a TMS, as part of a Managed Transportation Solution, can help businesses manage freight audit and payment processes:
Automate Invoice Auditing
TMS Transportation Management System software when leveraged with a MTS can automate the auditing of freight invoices against carrier contracts, identifying discrepancies and errors quickly. This automation ensures that invoices are accurate and reduces the risk of overpayment or underpayment.
Streamline Payment Processing:
TMS Transportation Management Systems have the capability to streamline payment processing by consolidating freight bills and processing payments to carriers. This reduces the time and resources needed for manual payment activities, and improves the speed of the payment cycle.
A TMS, as part of a Managed Transportation Solution benefits include real-time visibility into carrier rates and contract terms, enabling businesses to validate invoices and ensure accurate payment processing. This visibility also helps companies negotiate better rates with carriers, leading to cost savings.
Enhance Data Accuracy:
A TMS, as part of a Managed Transportation Solution, improves data accuracy by eliminating manual data entry, reducing the risk of errors, and ensuring accurate invoicing and payment processing.
Manage Carrier Relationships:
By streamlining freight audit and payment processes, a TMS, as part of a Managed Transportation Solution, can help businesses build stronger relationships with carriers. This can lead to improved service levels and better rates for future shipments.
In conclusion, a TMS, as part of a Managed Transportation Solution, is an essential tool for managing freight audit and payment processes in today’s transportation landscape. It streamlines the payment process, provides real-time visibility into carrier rates and contract terms, improves data accuracy, and helps manage carrier relationships.