Freight bill processing is an essential function in many business operations. Any errors or delays in this process can lead to serious financial and operational consequences.
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Data is considered the most critical element in any business. Business managers rely on accurate data to gain insight into the company’s operations and work toward scalability and profitability. The transport sector requires many documents, such as freight invoices and the Bill of Lading (BoL). While the trucking process is being carried out on-site, the offsite back-office employees are usually overburdened with a web of documents, entering data, extracting information, and generating reports. Read More
Automation has instilled a wave of relief for the back-office processes in the trucking industry. Large volumes of daily paperwork coupled with manual entry and processing can happen in just a few clicks. According to a study, 32% of transportation and logistics companies rely on manual steps in more than 50% of their daily processes.
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Freight Bill processing comprises a hefty series of tasks involved in shipping. The carrier generates invoices, which reflect freight information such as the freight’s description, name of the shipper, weight, point of origin and charges applied. It is the responsibility of the logistics and account team to keep track of the freight bill processing activities. They must carry out the tedious task of matching the invoices, ensuring accurate and timely payments, and maintaining data reliability.
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Large companies depend more on technology to fasten macro and micro-level tasks. Therefore, the trucking service companies sector has shifted its focus to outsourcing their tasks. Rapid turnaround using automation technology has eliminated the time delays in various business processes, including freight bill processing. Read More
Freight billing may look easy on the surface, but it is a complex task and demands accuracy and efficiency right from generating invoices to collecting payments. The logistics industry is always grappling with problems like inaccuracy in billing and payment challenges.
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The freight business is 12% of the global economy, and 40% of the global economy is dependent in some way on freight and logistics. If talking about the U.S. only, nearly every good is put on a truck at some point. Trucking is the largest contributor to the global supply chain and logistics. There is fierce competition in the trucking industry because of low barriers to entry.
Trucking is a very labor-intensive industry. Companies require skilled workforce for every vertical of the business. The trucking industry has faced a lot of additional unforeseen challenges over the last year owing to transport freezing and stoppage of cross-border trade in the wake of the pandemic. Read More
Processing bills of Lading and Freight Bills correctly and quickly can help Trucking Companies increase their Revenue. A mistake made while processing these documents can cost logistics companies money and time. Read More