Freight Bill Audit
Discover how freight bill audit can save you time and money.
Freight Bill Audit is a business process to examine invoice and financial records to ensure shippers pay those freight bills on time-the amount they owe, but no more. Study reveals freight charges represent up to 10 % of a company's total spend.
Complexity of Freight Audit
Consistent and significant rising freight cost is an emerging area of concern as witnessed in recent years. The fuel prices are playing key role in rising freight cost and freight cost is highly dependent on the cost of transportation. High fluctuations of fuel costs& unpredicted visibility of the freight costs make freight bill audit vulnerable thus require proper auditing to ensure that the organization pay the real outstanding.
The forwarder freight quotes are maintained in multiple spreadsheets and each forwarder has a different freight rate format for their customer. The organizationsare slightly frightened with the task of calculating the freight rates manually and this can be challenging & maximizing risk when the customer has hundreds of shipments shipped each month. Usually organizations do not have the manpower to perform the task thus business undervalue top-notch auditing an d pay more than the deserving freight cost. Some organizations prefer third party to perform freight audit as manual and tedious efforts required for a freight audit. Doing it inhouse may usually end up much more expensive than an outsource vendor might be able to provide.
We at Max BPO begin the auditing process with receivingour clients' freight bills directly from carriers. Once the freight bills and appropriate documents are received, either via electronic data interchange (EDI) or manually, we enter relevant data into the system and it provides immediate visibility to examine, adjust and verify freight bills either for payment or reclaim the overpaid amount. Based on our expertise and perfect blend of analytics and technology we verify the bills' validity, mileage, duplicate payments, discount, accessorial charges, and use of correct tariffs.
As outsourcing partners like Max BPO are well equipped to handle to the tasks—outsourcing can be a strategic-options. The clients usually pay fees to an outsourcing partner, let them access freight invoices, and then absorb additional costs and time to administer the service, track discrepancies, and recoup unrecovered charges.
Domain Expertise – Maxtech Data House is a proven and trusted service provider to several industries. We have enriched experience of our leadership team to deliver supreme services and deep insight into business. Cost Effective Services – Collaborating with Maxtech Data House enables you to manage your business operations effectively and affordably.