Even in a moderately complex supply chain, performing freight audits in-house can require shippers to spend countless hours and resources combing through paperwork and spreadsheets. Even then, they may not deliver results.
Done well, freight audits can ensure accuracy and recapture revenue. But shippers still using old-school, paper-based auditing processes might be missing out on a goldmine of untapped savings.
Utilizing automated freight audit and payment services through CTSI-Global can help cut down on time and expenses—and put money back in the bottom line. On average, it costs a company $5 to process and pay a freight invoice on their own, but only a fraction of that when they partner with us.
Whether you’re dealing with complicated multimodal global shipments, finicky regional carriers, or both, here’s how automating your freight audits can improve efficiency and significantly reduce your freight spend.
Establish consistency across carriers
Every carrier has its quirks. Across the board, there are no generalized terms to describe carrier services, meaning that deciphering invoices can quickly get confusing if a carrier has a unique term for a common service. In some cases, it’s like interpreting a foreign language.
Carriers also lack consistency when it comes to managing disputes or contesting invoice details. Effectively auditing these invoices in-house requires managing multiple invoice databases and keeping track of terms—every time you process an invoice. That’s time suck—and it doesn’t guarantee results.
Working with a partner that has the capability to rapidly review billing exceptions, interpret different carrier terms, verify freight data, and request chargebacks can help you get repayments and refunds processing in no time. Without the help of an automated system, not only is this process time-consuming, but it could lead to a denial of repayment.
Reduce human error in freight audits
Internal freight audits are a major burden on accounting teams and supply chain staff who likely already have a lot on their plates. Given the level of employee turnover and burnout in recent years, an overworked team could cause issues in your supply chain operations. But it can also lead to major opportunities to save being missed.
Auditing invoices is a massive undertaking. Even the most meticulous employees are susceptible to human error, especially when the invoices they’re combing over are hard to decipher at the best of times. Why add to employee workload and stress levels when an automated freight audit solution could save time and money—all while freeing employees up to do more value-added tasks?
Analyze data to drive improvement
Performing regular freight audits is good—but using the data from those audits to inform and improve decision-making is even better.
With a clunky, paper-based audit, that’s virtually impossible. But when a shipper’s freight data passes through a unified system, it’s easy to collate and analyze granular shipping information to make smarter decisions around freight spend moving forward.
Optimize your freight audits every time
Why pay a penny more than you need to? CTSI-Global’s industry-leading freight audit and payment solution takes the stress out of the auditing process, catching invoice errors that would otherwise go undetected—so you can maximize your savings every time.
Stop leaving money on the table. Contact us today.