Beyond Freight Audit & Payment Processing

This eBook is for leaders of supply chain, logistics, transportation, or finance, it introduces a new way to get more efficiency and enterprise value from the process of receiving, auditing, and paying freight invoices. By Trax Technologies

July 24, 2017

Today’s businesses need more than just operational efficiency in the supply chain - they need ways to actually create value throughout the enterprise.

The key? Understanding, analyzing, and acting on your logistics data.

In suggesting a different way to think about freight audit and payment (or FA&P) processing, we assume you’ve partially or fully automated your operation, or you’re considering doing so.

Automation of FA&P improves efficiency and reduces operating cost.

But beyond delivering initial gains in efficiency, automation often prevents companies from achieving higher enterprise value.

This paper identifies the current limitations of automated FA&P and the reasons for them.

It then presents an alternative that retains the benefits of automating FA&P while providing much more enterprise value.

In addition, the proposed alternative puts you on a path to continuously increasing that value with time.

Whenever you ship or receive goods, the process generates data that documents each activity.

For complex freight movements, documentation arrives in a variety of incompatible forms and formats.

It comes from many disparate sources, including your own internal systems.

To manage those supply chain activities effectively and to pay the related bills, you have to consolidate, coordinate, and reconcile all the data.

How do you bring together all this information? That’s a central challenge of managing supply chains.

The complexity and incompatibility of logistics data makes it hard to audit and pay freight bills. Similar data challenges also make it hard to analyze, understand, and improve supply chains.

This paper suggests that the critical next step forward is to enhance the quality of supply chain data before it comes into any of your enterprise processes.

Not only will you improve the efficiency of your FA&P process but you will vastly improve the total enterprise value you can derive from this data.

Download this in-depth ebook today and get the facts on:

  • Proven techniques for achieving more accurate and efficient FA&P processes
  • How data must be refined to deliver maximum supply chain visibility
  • Why a data-first approach is your best bet for driving serious enterprise value

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