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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Non-profit organizations rely heavily on grants from foundations, corporations, government agencies, and other grantors to support their mission. The process of applying for these grants, reporting on them, and tracking their status has become complex and tedious. Read More
With remote work becoming the norm at companies across industries, account payable outsourcing is growing. The COVID-19 pandemic has altered how we conduct business. Companies are experiencing heavy strain on their account payable departments, thus, an increased need for account payable outsourcing. Read More
Bookkeeping outsourcing has been growing at a very high rate over the last decade or so. While most companies are looking into bookkeeping services, some non-profits also opt for these services.
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Back office data entry is vital in every industry, but the process can be time-consuming and tedious. Law firms often have many documents to be entered into a database, files that need to be organized and updated regularly. It can take just one missed deadline to jeopardize a case.
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Growing businesses need to establish good relationships with vendors and suppliers. Vendors may often use varying types of invoicing standards or procedures, creating difficulties for the in-house accounts payable department. Such inputs can create problems and lead to erroneous databases that can disrupt the entire workflow and often lead to delayed payments and lost accounts.
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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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The Accounts Payable task is typically a long and tedious process involving extensive hours of redundant efforts to work through piles of paper-based invoices. According to Ardent Partners’ Accounts Payable Metrics that Matter in 2020, the top challenges holding Accounts Payable back are exceptions, lengthy invoice approval times, and too much paper. Read More