If you ship parcels through the major carriers, you owe it to yourself and your customers to have regular UPS and Fed Audits. On an average day, FedEx can ship to more than 220 different territories and countries, totaling over 14 million parcels.
A large percentage of these parcel deliveries via FedEx are covered by their service guarantee that guarantees on time delivery. And with between 3% and 5% of these shipments being incorrect or late, many businesses are simply leaving money on the table. However, regularly conducting a FedEx audit through TransAudit can help you generate savings, recover erroneous payment, improve carrier relations, and create efficiencies.
TransAudit is the world’s largest and most successful parcel post audit specialist and global freight audit specialist.. For more than 40 years, we have performed contract reviews and transportation post-payment audits for hundreds of Fortune and Global 1000 corporations.
Today, we offer the same resources and solutions to businesses of all sizes. With our comprehensive FedEx audit, we will establish a recurring feed of FedEx invoices and other electronic documentation.
After automatically detecting when a parcel is delivered outside of the guaranteed time, we will systematically recover the refunds and monies owed to you. Best of all, setting up a FedEx audit system with TransAudit requires very little if any input from your or your business and has no out-of-pocket costs.
We are compensated as a percentage of the monies we recover. While the FedEx audit seems simple, many customers have questions over the process and details. Let’s take a closer look at some of the top FAQs about the FedEx audit process.
What Is a Parcel Audit?
Parcel auditing or freight auditing is the process of reviewing your FedEx invoice and ensuring your deliveries occurred as promised. Your FedEx invoice will detail the delivery, including whether it was completed on time and accurately.
However, you most likely don’t only have one FedEx invoice —you have several. Most carrier invoices are dozens or even a hundred pages long, which makes manual audits difficult and unlikely to occur. It also makes errors near impossible to spot to the untrained eye.
Because of this, the best FedEx audits are performed by software that uses complex algorithms to capture and review every data point on the invoice. With the goal if identifying potential refunds and savings, the software should carefully explore:
- Deliveries that are late
- Non-shipments where the package was scanned but not loaded onto a FedEx vehicle
- Wrong surcharges, such as an improper address correction billing
- The wrong charges for dimensional weight
- Missed or misapplied discounts
- Duplicate charges
- And more
What Is a FedEx Audit Service?
As the name suggests, a FedEx audit is where we perform a parcel audit on your FedEx shipments. By establishing an automatic, recurring feed of your weekly invoice information, we can automatically spot errors, improper billing issues, and more.
Then, we will automatically seek any refund your company is due. During the process, you will have complete visibility through our state-of-the-art TransPortal system. This proprietary, cloud-based claims analytics system and query tool allows you to effortlessly manage, monitor, and improve your FedEx payment processes and carrier billing accuracy.
What Are the Most Common FedEx Audit Errors?
FedEx is actually comprised of several independently owned shipping companies, including:
- FedEx Ground,
- FedEx Expres, and
- FedEx Freight.
The vast and comprehensive FedEx umbrella provides a single source for support and invoicing. By the sheer design of FedEx, there is an increased likelihood of incorrect charges and errors. When you schedule a FedEx audit with TransAudit, you will save time, money, while possibly lowering your shipping cost.
Our proprietary software will carefully comb through every package shipped, invoice, and accessorials charge while helping to ensure credits, incentives, and negotiated rates are applied. Some of the most common errors we encounter each week include:
- Duplicate shipments on the same invoice
- Late deliveries
- Duplicate charges
- Incorrect address correction
- Incorrect rate
Does FedEx Allow Third-Party Parcel and Freight Audits?
As a shipper of freight or parcel packages, you have a right to ensure your account and shipping bills are accurate. Most importantly, you have a right to spot mistakes and make sure the service guarantees have been fulfilled.
You also have a right to partner with the third-party parcel auditing company of your choosing to monitor and ensure your invoices are correct as well as seek out refunds.
How Does TransAudit Recieve Shipping Invoices to Perform Freight Audits?
When you partner with TransAudit for shipping audits, we will establish a recurring, electronic feed of your invoices. Our team of freight auditors will automatically receive and review reports regularly to ensure accuracy and efficiency. And establishing the feed is a relatively simple process and can be accomplished quickly.
Does TransAudit Only Perform Parcel Audits on FedEx?
No! Whether you ship with UPS, FedEx, DHS, or any other parcel carrier, we can help ensure accuracy and save money with our parcel audit service. At the same time, we have the capabilities and technology to efficiently perform freight audits as well. While freight audits (FTL, LTL, and more) are a bit more complex, TransAudit is your one-stop post-bill audit and solution provider.
Will Auditing FedEx Invoices Negatively Impact My Relationship with Carriers?
When you partner with TransAudit, your relationship with your carrier will not be adversely affected. On the contrary, it can be improved. For your relationship with FedEx, UPS, DHL, or any other freight or and small parcel carrier to improve, both parties must be held accountable for the services they provide.
TransAudit works to audit each invoice to ensure you aren’t paying for something you shouldn’t be. Checking each invoice to account for errors is just good for business.
Think of it this way, if you went to the store and the cashier accidentally rang up an item twice, you would probably ask them to refund the incorrect charge and return the money to your account. This same principle applies when you seek out a refund or credits for erroneous billing.
Contact TransAudit for FedEx Parcel & Freight Audits
At TransAudit, we offer a full array of freight and parcel audit services. Our solutions are designed to create savings, recoup overpayments, reduce costs, and generate efficiencies throughout your supply chain.
Contact TransAudit today to learn more.