Between accounting for rising freight costs and dealing with increasingly complex invoices from multiple carriers, it’s no surprise that many companies struggle to audit their invoices and forecast future spend. This is especially true when employees are stuck using heritage systems that don’t support their current needs. Outdated freight audit and payment (FAP) procedures are a recipe for mismatched invoices and purchase orders (POs). This leads to sluggish audits, wasted time, and the potential for even more errors that can drastically increase overall freight spend. Employees don’t have time to manually compare every contract and quote with the relevant freight invoice. Instead, companies can regain control over the process while reducing current and future freight spend by utilizing reliable FAP services to track, manage, and analyze invoices.
Simple errors add upOne freight invoice exception can cause significant and costly supply chain delays. But when freight invoice exceptions and manual audits become standard operating procedure, the results are systemic inefficiencies and dramatically higher transportation costs. The good news is, most routine invoice exceptions and payment holds are caused by one of three simple errors:
- A line mismatch between the invoice and the purchase order
- Missing bill of lading documentation, including names, dates, order numbers, and descriptions
- A compliance issue