Apr 23, 2024 11:07:31 AM Ryan Williams 2 min read
Managing freight spend and ensuring accurate billing for transportation logistics can be a challenging task. The complexities of pricing structures, freight classes, and accessorial charges make it difficult for businesses to navigate the landscape efficiently. However, with the right technology and software solutions like those we offer at Williams and Associates, companies can streamline their auditing process which improves efficiency, keeps costs accurate and enhances visibility into freight spend.
One of the key technologies used in auditing transportation invoices is our Electronic Data Interchange (EDI). This process allows freight carriers to transmit billing data electronically, which is then processed through our automated system. This not only speeds up the invoice processing time but also ensures accuracy and reduces the risk of errors that can occur with manual data entry. By implementing EDI, companies can have instant visibility into their invoices, saving time and money.
We’re excited to introduce our new Compass Business Intelligence tool. This software provides a visual representation of a company's spending, allowing them to track and manage their spending patterns over time. The tool enables businesses to identify trends, analyze data, and make informed decisions about their transportation budget. By having this information at your fingertips, companies can better manage their expenses and allocate resources more effectively.
The role of technology in auditing transportation invoices extends beyond just processing data. It also includes tools that facilitate communication and collaboration between companies and carriers. For example, Williams and Associates Freight Payment Inquiry Portal allows carriers to submit invoices electronically, track payment statuses and resolve billing issues quickly. This portal not only saves time for both parties but also ensures that invoices are processed accurately and efficiently.
Let’s not forget compliance – our custom-built software is designed to adhere to specific business rules and requirements, ensuring that invoices are accurately audited according to predetermined criteria. This helps you maintain compliance with regulatory requirements and industry standards, reducing the risk of costly penalties and legal issues.
The role of technology in auditing transportation invoices is crucial for businesses looking to optimize their logistics operations. By implementing the right software solutions, companies can streamline their auditing process, improve efficiency, and keep costs accurate while maintaining transparency in their invoices. Investing in technology is not only a smart business decision but also a strategic move toward a more efficient and cost-effective transportation management system.
Ready to streamline?
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.