Paying a freight invoice without auditing it is a lot like blindly reaching into your wallet and handing a cashier everything you have in there without counting it. Now, you wouldn’t do that would you? No, you wouldn’t; that is why freight audit should be on your radar. Including freight bill auditing in your business model can recover anywhere from 10-12% of your annual transportation spend initially and 3-5% for long-term annual savings.
There are, of course, options for freight audit providers. Some businesses choose to audit their freight bills themselves, either manually or by using an electronic system. Others see the benefit of outsourcing their freight bills, cutting costs and saving time.
To help visual the cost differences of each auditing choice, here are the costs of processing bills as of 2012, according to American Shipper:
As shown by the data above, the lowest cost option, for both Domestic and International invoices, is to outsource your freight payment process to companies that make Freight Audit their business. By outsourcing your freight bills you will be cutting head counts and spending substantially less while gaining a lighter workload.
TI offers multiple payment models, so that clients can choose the option best suited for their business. We offer a “no float” option for the less risk tolerant but have maintained our float pricing option for clients looking to keep costs down. With 6 different types of processing structures, the client has the opportunity to completely tailor their experience to fit their business model. Trans International makes it our business to save your business time and money while still giving the process a customized feel. When you pass off your freight bills, your business is still a part of the auditing process, sans the responsibility of doing the actual auditing. We don’t want to leave you in the dust, we want to take you along for the ride, keeping you informed every step of the way.
Not only do our Freight Audit and Information Reporting (FAIR) services save you time and money, we also use the data from your freight invoices to create robust, ERP compatible reports so you can track and optimize your freight spend. Your data is immediately available throughout our entire audit process. Transparency is as important to us as it is to you.
Here are a few points to summarize why freight audit/Trans International should be on your radar:
- Pre-audit saves you from issues with overcharges and duplicate payments, an audit will ensure you pay only what you owe.
- We also recommend going further than just freight audit, we recommend outsourcing your freight bill processing to Trans International. We have zero ulterior motives when handling your data and money. Our goals are to save you money, time, and to keep you informed.
- Using the services provided by Trans International, your company can expect a 3% to 5% recovery of your total transportation spend annually. That’s cash back in the bank that you would not have had you not partnered with us.
- In the last year, we saved our clients a combined $15.5 million.
Freight Audit is not a “should”, it is a “must”. It is a time and money saver. Freight Audit should be on your radar.