Freight invoice auditing and payment has been many years about leveraging data and scrutinizing invoices to find and rule out overbilling and other invoice mistakes. This is current day still a very important function that can save shippers thousands of dollars, but many freight audit providers deliver data and business intelligence capabilities, using the clinical data from the freight audit process, that make deep analytics of transportation data one of the rising benefits.
"Today's freight audit and payment services focus on applying deep analytics, married with supply chain consulting expertise, to glean insights from data—then delivering those findings quickly and clearly to help shippers drive both tactical and strategic decisions that improve supply chain efficiency and remove costs.
Increasingly, those needs and expectations don't apply just to shippers' domestic freight bills. More shippers are seeking the same level of visibility and analytics about international freight activity, unified in a single platform with consistent formats that resolve differences in language, currencies, units of measure, and other variables." (http://www.inboundlogistics.com/)
Over the last 10 years, the freight audit industry has evolved from ruling out mistakes in transportation bills, to delivering unrivaled insights in logistics flows, with full visibility platforms that enables companies to make vital adaptions or decisions that affect the supply chain.
The evolution of Freight invoice Auditing
1. History of Freight Audit
2. Current rising functions of Freight Audit
3. Freight Audit: Europe versus Europe
4. In-house versus outsourced capabilities
5. Freight Audit types
6. Advanced reporting and Business Intelligence capabilities
See full infographic — The evolution of Freight Audit
About ControlPay — The global Freight Audit company
ControlPay has been set up over 13 years ago to support large multinationals with complex logistics structures in their needs for control of freight costs and invoices flow. This is still very true today. We have always had an international focus being based in Europe and took the collaborative nature of international processing on to our platform. This means that our platform has a very high degree of visibility for both shipper and carrier.
In 2013 ControlPay has started to formalize the many different consultancy and analytical projects we have carried out for customers. Nowadays our consultancy department focuses at big data cloud projects for logistics visibility, tender support, cost allocation optimization and rate analysis. Next to that we have expanded into managed services for TMS systems where ControlPay is responsible for managing rates and their updates and freight audit processes in systems like SAP, OTM, GT Nexus, etc.
More Freight audit content by ControlPay
ControlPay — Freight Audit Advantages
ControlPay — Download our eBook- Advanced Freight Audit
ControlPay — Business Intelligence Platform
ControlPay — Freight Audit & TMS services
ControlPay — Why ControlPay is different
About the Author
Pieter Kinds (40) is Director at ControlPay, a global Freight Audit provider and the CEO of TenderTool, a cloud-based logistics sourcing platform. Active for over 14 years, Pieter is eager to share insights, thoughts and experiences via his blogs.Follow ControlPay on Twitter More Content by Pieter Kinds