Best-Practice Freight Invoice Management
When organizations partner with Cass for freight invoice management, they replace chaos, administrative burdens and a lack of visibility with clarity, automation and control. From ensuring your carrier invoice requirements are met, to paying those invoices electronically and at the right time, we ensure excellence every step of the way.
Due to their complexity and high incidence of mistakes, freight invoices necessitate an automated and complex workflow. Most organizations that lack a highly automated and customized system for freight payment have substantial opportunity for process improvement.
Our invoice management processes for freight bills include the following:
- Receive all invoices, working with carriers to use the most efficient method possible (goal = EDI)
- Digitize paper invoices
- Audit all charges for contract compliance, identify duplicates
- Advanced capabilities for processing more difficult invoices such as balance dues, separately billed accessorials, and corrected invoices
- Interface with carriers for dispute resolution
- Allocate expenses
- Electronic payment to carriers
- Provide visibility to freight invoice, audit and payment information, as well as shipment activity
Process Improvement Benefits
- Eliminate paper handling, routing and filing
- Review exception invoices only
- Centralize all freight invoice processing functions, eliminating non-uniform processes and multiple systems
- Real-time visibility to invoices (view as either EDI templates or digitized documents)
- Long-term electronic archival of invoice documents
- Offload dispute management and carrier inquiries to Cass
- Maximize cash flow with invoices paid at the optimal time (no batch processing)
- Receive detailed, correct cost allocation and accrual files, directly into your system
- Gain near real-time visibility into invoice status, payment information and operational metrics via CassPort
Invoice Data Becomes Business Intelligence
Extracting data at the most granular level from freight invoices and supporting documents, shipment files and other records creates a powerful source of visibility into a company’s freight spend. For transportation and logistics managers, this data becomes the basis of informed decision making, targeted cost control measures, and process improvement initiatives.
Continuous Process Improvement
Superior execution in freight invoice processing will lower your overhead costs, minimize exception processing, and produce the most accurate and detailed business intelligence. For these reasons, Cass places a strong focus on continuous improvement to the freight invoice management process.
Process improvement initiatives focus on KPIs, with goals to:
- Improve EDI percentage. This reduces fees and increases the amount of data collected for each invoice)
- Improve rating success. A higher percentage of rated records improves audit quality and accrual accuracy.
- Reduce exception volume. Fewer invoice exceptions means improved employee productivity.
Other Invoice Management Solutions from Cass
Cass helps its clients cut costs and improve processes for non-travel expenses. In addition to freight invoice management, Cass offers solutions to manage telecom, utility, waste and other facility-related expenses. Expert invoice management is at the core of these service offerings. Learn more about Cass expense management solutions for complex payables.