Automated and Error-free
Freight Bill Processing : FAP Portal
Logistics Freight Bill Audit and Payment is a business process where the freight bills are examined, adjusted, and verified for accuracy & finally, paid off. Whether it is US Freight Bill Audit and Payment or any other country’s, the processes involved include checking shipper information, carrier information, the weight of the shipment, Bill of Lading, tracking number, price of the goods, and more
Also, the invoices are verified if they haven’t been processed and aren't duplicated. When an error is found in the invoice, the Freight Bill Audit and Payment Company would correct the same in a new invoice, which would be sent to the carrier.
Automated Freight bill Audit and Payment (FAP) tool
The automated FAP tool resolves freight bill errors and makes the process stress-free. The tool automatically processes the bills, investigating, adjusting, and confirming their accuracy which enables quick and efficient freight bill payment and helps businesses and individuals who ship their goods regularly to save up to 5% of their transportation costs
The FAP portal takes charge of the processing by:
Extracting data from paper, scanned invoices, or e-files like Word/Excel/pdf/TIFF, EDI, .csv, etc., using AI technologies Invoice data is available for the customers, carriers, and the auditor through the portal
Identifying the duplicated invoices through the invoice number, bill of lading, and other data while processing Moving the confirmed/accurate invoices to the payment queue. Processing the balance due/past due invoices with or without late fees and other accessorial charges.
Benefits of the Freight Bill Audit and Payment Portal:
Managing freight contracts and keeping the data updated. Uploading the data/details to the portal easily
Deriving accurate freight rates by updating the contract to the rating engine
Carriers can view the rates and discounts they have offered to their customer, which will be redeemed in the audit and payment.
All the documents, amendments, and approval history are tracked and stored for handy reference. The rating engine assures the contract is signed between the carrier and the customer
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Truck Routing, Online LTL freight tariff API, Mileage Software, etc , can be integrated with the FAP portal Based on the data derived from the invoices, the rules to allocate general ledger codes to invoices are built. Cost allocation is accurately and efficiently automated. Reports could be downloaded in various formats.
Out of four freight bills one could contain error/s, says reports. This could affect your business potential and cost you unnecessarily. Manually auditing every day is tiresome and requires extra resources. Opting for an automated Freight Auditing and Payment tool prevents errors, extra costs, and wasted resources.