Apr 23, 2024 11:20:40 AM Ryan Williams 2 min read
In the world of logistics and freight management, every dollar saved can make a significant impact. That's why many companies turn to audited accounts payable services to streamline their operations and cut unnecessary costs. Let's dive into some real-life case studies that showcase the tangible benefits of these services.
1. Uncovering Costly Billing Errors
A client who is a major player in the transportation industry, joined forces with freight invoice management experts Williams and Associates in 2007. Since then, their audited accounts payable services have identified over $10 million in carrier billing errors. These errors ranged from misclassified shipments to incorrect billing rates, highlighting the critical role of auditing in ensuring accurate billing.
2. Responding to Address Validation Issues
A printing company that heavily relied on UPS and FedEx for shipping faced a common yet costly problem. Their internal systems were not validating addresses correctly, leading to additional fees for address correction by carriers. Williams and Associates auditing services pinpointed this issue, enabling the client to update their systems and save more than $20,000 each month in avoidable fees.
3. Contractual Clarity for Cost Reduction
In 2020, a staggering $8 million in transportation spend was saved through auditing services for a Minnesota automotive, motorcycle and ATV manufacturer. The savings were attributed to correcting contract discrepancies and ensuring carriers billed according to the agreed-upon terms. This case underscores the importance of auditing in maintaining contractual clarity and minimizing financial leakages.
4. Streamlining Communication and Support
One client, after breaking off from another company, faced communication challenges and was left in the dark for six months. However, after engaging with Williams and Associates, they experienced a complete turnaround. The client received personalized support, streamlined communication, and ongoing assistance with freight classification, enhancing their overall shipping efficiency.
5. Proactive Engagement with Carriers
Williams and Associates’ proactive approach to engaging with carriers has yielded significant results. By working closely with FedEx, CH Robinson, T Force, and other carriers, their auditors have been able to address billing issues promptly, resulting in positive feedback from both clients and carriers. This proactive engagement sets Williams and Associates apart from competitors and ensures smooth operations for all parties involved.
These five examples demonstrate the tangible benefits of audited accounts payable services in the logistics and freight management industry. From uncovering billing errors to streamlining communication and proactively engaging with carriers, these services offer a comprehensive solution for cost savings and operational efficiency.
If you're looking to streamline your freight management processes and cut unnecessary costs, audited accounts payable services could be the game-changer your business needs.
Ryan Williams
As the CEO and a third-generation Williams & Associates family leader, Ryan brings extensive experience collaborating with partners in supply chain networks, finance, operations and IT, both internationally and domestically. He’s worked with freight carriers and customers to establish KPIs and develop carrier scorecards, as well as performing time-sensitive analyses to prioritize workload and identify risks to improve performance. Ryan was a sculpture and graphic design fine arts major and enjoys bringing his creative side to the transportation industry.