As businesses navigate an ever-changing global marketplace, supply chain management is becoming more complex and challenging than ever before. Freight spend is a significant cost driver for businesses in this high-pressure climate, and managing it effectively can mean the difference between measurable savings and lasting mistakes. Unfortunately, many companies still struggle with inefficient payment processes, billing errors, and a lack of spend visibility.
In the face of market shifts and supply chain management challenges, a freight audit solution can help businesses streamline freight spending. These solutions automate payment processes, identify billing errors, and provide real-time insights into freight spend, so businesses can reduce invoicing mistakes, increase data accuracy, and improve turnaround times.
For companies looking to make the most of a new freight audit solution, clear objectives, ample communication, and a methodical implementation process can make all the difference for bottom lines.
1. Set clear objectives
Before implementing a freight audit solution, it is crucial to set measurable goals. Identify the areas where improved efficiency and visibility are needed, and establish strategic objectives, such as reducing payment errors or improving time to revenue. Setting a strategy helps companies identify the best freight audit solution for their needs and ensure a successful implementation.
2. Communicate with stakeholders
Effective collaboration is vital to the success of a new freight audit solution. Communicate with team members and stakeholders to ensure they understand the benefits of the solution and how it will impact their day-to-day work. Provide training and support to help carriers adapt to the new processes, especially carriers that may not be familiar with freight audit solutions. Freight audit and payment providers with proprietary solutions, such as CTSI-Global, can provide resources for onboarding freight audit workflows.
3. Choose the right freight audit solution
Freight audit solutions should be tailored to fit each business’s needs and freight audit objectives. At CTSI-Global, implementing our customizable Freight Audit and Payment solution is a collaborative process involving first understanding clients’ unique challenges and then providing comprehensive services or a la carte solutions. It also includes ongoing support to ensure a smooth transition to the new process. Companies can create their preferred solution with consideration of budget, visibility, scalability, and ease of use.
4. Monitor and evaluate performance
Implementing a freight audit solution is not a one-time event. Monitoring process performance against the established objectives from Tip #1 and making necessary adjustments is a key part of enabling a freight audit solution’s ongoing success. Plan to measure success before implementing the solution and evaluate its impact on business operations and financial performance. Good freight and audit partners will know what questions to ask and how to answer them.
5. Work with a trusted partner
Freight audit solutions aren’t just about technology. By working with partners who understand the process and can provide customized solutions, companies can receive on-demand assistance for future needs. The best partners have a proven track record of successful implementations and the capability to support a global solution. This support is important for creating synergies across regions, invoice formats, country codes, tax requirements, and currencies.
Look for more than a vendor but a long-term partner in shipper success. With in-depth knowledge of local regulations, invoicing formats, and each country’s tax requirements, CTSI-Global’s team of experts makes sure all partners are set up to succeed from day one. No more headaches or guesswork. Just simple, streamlined processes that get the job done.
A freight audit and payment solution designed for you
Implementing a freight audit solution can help businesses to optimize their supply chain management and gain visibility into their freight spend. By setting clear objectives, communicating effectively, and regularly monitoring performance, businesses can successfully implement CTSI-Global’s freight audit and payment solution and maximize its benefits—from rapid automation to real-time analytics.
Contact us today to learn more about how we can help you optimize supply chain management.