No matter your industry, segment, or shipping spend, the benefits of a freight audit can transform how you do business in more ways than one. In the most simple sense, a freight audit is a systematic review of your shipping invoices, Bills of Lading, and other electronic documentation to ensure accuracy and that you aren’t being overbilled.
Let’s take a close look at the amazing, balance-sheet-changing benefits of a freight audit. And don’t hesitate to reach out to the team at Trans Audit today to unlock the following benefits of a freight audit.
The Benefits of a Freight Audit Include Cost Savings
One of the top and most notable benefits of a freight audit are reduced expenses through the prevention of overbilling, misbilling, and other financial discrepancies. In either case, billing inaccuracies appear very often in logistics.
Whether it’s due to human error, the complexity of rates and contracts, unforeseen shipping circumstances, or any other reason, these errors are costly and can quickly add up. However, it doesn’t mean you should unjustly foot the bill. And with a freight audit, the Trans Audit team can ensure you don’t.
Save Money with a Freight Audit
With a freight audit at Trans Audit, we will establish recurring feeds of electronic and paper invoices, bills of lading, contracts, rates, and payment information to perform a recurring review. Through this review, we will systematically monitor shipments and invoices for billing errors, which regularly leads to significant cost savings. At the same time, a freight audit will install the infrastructure to avoid:
- Unexpected accessorial charges for a la carte services, such as reweighing
- Unnecessary detention charges, including delays in the return of a container
As a leading freight audit partner, Trans Audit will empower you to gain more control over the entire end-to-end billing process while helping you with other attributes of the business that are directly related to profitability.
Access Superior Analytics and Insights
At Trans Audit, we use a state-of-the-art freight audit system that delivers premium analytics and data that can impact the way you do business. Because of our cutting-edge approach, you’ll be privy to micro and macro reports that can be translated into integral KPIs.
With our unsurpassed proprietary cloud-based claims analytics system, TransPortal™, you’ll be able to view and analyze claims activity online. TransPortal™ is updated on a daily basis allowing you to see a range of key information, including:
- Error types
- Claims aging
- Claims status
- Claim distribution by mode and carrier
- Other important information
TransPortal™ identifies the type of claims filed (the reason for the claim) by the carrier and provides the capability to query and drill down by claims status, mode, carrier, and claim error type.
The extensive information and insights provided by Trans Audit and TransPortal™ are instrumental in claims management as well as process and carrier evaluation, management, and improvements. You can use this information to improve contracts and engage in strategic cost-reduction methods.
Attention and time are among the most valuable resources your business has. And when you partner with Trans Audit, we can help you protect them both while increasing your control over your logistics budget and spend. Based on your industry, your business will have a unique set of core competencies, strengths, and advantages.
Your business is a player with the industry because you’re good at what you do. The most ideal application of your time and resources is in the area where you excel — not being weighed down navigating the confusing and cumbersome issues of transportation invoices.
At Trans Audit, we specialize and are entirely focused on ensuring your business enjoys all of the benefits of a freight audit. We employ the latest and most advanced technology to streamline the freight audit process with minimal input from your employees. Every hour your employees don’t spend dealing with complex billing issues is more time they can dedicate to:
- Growing your core business
- Improving customer relations
- Decreasing time spent on manual processes
- And more
In either case, implementing a regular freight audit can open the door to the immense savings of time.
Contact Trans Audit to Unlock the Benefits of Freight Audits
When you partner with Trans Audit, our team will work directly and amicably with your payment and freight providers, internal staff, and carriers to quickly perform worry-free onboarding. Throughout the process, our goal is to limit the number of resources required by you to support the audit process while maximizing your returns.
We will quickly establish a recurring feed of your current and past invoices and other electronic data to find and remedy one-time billing. Most importantly, we will automatically obtain refunds of previous overpayments and overbilling, which can be used to help prevent future billing errors.
In fact, we managed to recover over $3,000,000 in a single year for a large Fortune 200 multinational automotive manufacturing and supply company. Enhanced by our proprietary technology and skilled auditors, recoveries mainly resulted from revised billing, detention, payment, rate, and accessorial charge errors.
Contact TransAudit today to learn more about the benefits of a freight audit.