As today’s supply chain challenges continue to drive up costs, a growing number of shippers are outsourcing freight audit and payment (FAP) processes. Turning to a trusted logistics partner empowers shippers to automate manual FAP workflows, improve data accuracy, and simplify complicated tasks. The result? Cost savings, improved efficiency, and a soaring bottom line.
Generate organization-wide value through the benefits of FAP outsourcing
1. Greater efficiency
Today’s shippers face a number of evolving efficiency challenges, including carrier delays and industry-wide shortages. Even internal inefficiencies can complicate existing time management issues, with many shippers still relying on time-consuming manual workflows for key invoicing tasks.
FAP outsourcing can make all the difference. By turning to a trusted freight auditing partner like CTSI-Global, shippers can enjoy fully automated auditing, on-demand data, and a streamlined client and carrier request process.
2. Stronger compliance and security
Data accuracy—particularly when it comes to compliance and security—is a high-stakes concern for both shippers and the teams they work with. After all, manual FAP processes aren’t just tedious—they’re also prone to human error. A single oversight, no matter how trivial, can result in hefty fines, reputational damage, and more.
CTSI-Global’s comprehensive FAP solution features the industry’s largest selection of data capture and normalization alternatives, including electronic data interchange (EDI) processing, optical character recognition (OCR) scanning, online data entry (ODE), manual data entry, and custom electronic file processing. And when it comes to contract management, CTSI-Global offers full customization and a flexible approach to scanning, storage, and analysis. The solution provides full Sarbanes-Oxley compliance, robust data security, and organization-wide confidence—not to mention stronger and more productive client and carrier relationships.
3. Simpler cross-border payments
Many shippers—especially those with global networks—are also burdened by cross-border payment challenges. Shippers managing payments across different countries must navigate tax code intricacies, currency differences, and exchange rate calculations—all of which further complicate efficiency and accuracy.
Fortunately, FAP outsourcing makes it easy to overcome international payment hurdles. For example, CTSI-Global’s FAP solution enables payments and reports in any currency or exchange rate, allowing shippers to scale across the globe with confidence.
4. More visibility and transparency
Amid rapidly digitizing supply chain networks, visibility goes a long way—and invoicing is no exception. FAP outsourcing equips shippers with comprehensive data, advanced modeling, and strategic benchmarking—as well as thorough insight into carrier rates, cost allocations, and other budgeting considerations. With high-level and granular cost analyses, shippers can better track spending over time, identify hidden inefficiencies, and implement savings across the board.
Drive unprecedented growth with the right FAP technology
Freight invoicing comes with a unique set of ever-shifting challenges. CTSI-Global—which processes 5 million freight transactions daily and $15 billion of freight annually—is a leader in capacity, technology, and global and local expertise. With standout FAP technology and expertise at the ready, shippers can open new doors by unlocking faster, simpler, and more reliable business processes.
Ready to reimagine freight auditing and payments? Contact us today.