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.
According to a survey, as high as 20% of freight invoices may be inaccurate, which is a significant number.
It gives rise to the need of spending more time, money, and resources on reviewing freight invoices to check the accuracy of data entry.
What is a Freight Bill?
A freight bill is a written contract between a shipper and a carrier, containing the information about the goods being transported and the shipper and carrier information.
The details mentioned in the freight bill document may differ from carrier to carrier.
Data Entry Challenges in Freight Billing
- Freight billing involves a lot of paperwork. Traditionally, logistic companies have been doing this paperwork manually, which is prone to billing inefficiencies due to the mishandling of data. A single shipment may involve multiple stakeholders and complicated operations, which lead to intricate freight billing and extended freight billing processing. Freight billing can be done in different formats and multiple interfaces, leading to time wastage and errors.
- Suppliers and carriers need to spend a huge amount of time verifying invoices and documents to check if the data has been entered accurately. Wrong data entry can prove to be very costly and lead to overbilling.
- The global pandemic has added new complexities to the already existing freight billing problems. Cargo owners now find themselves struggling to stay updated with the weekly changing container shipping rates and surcharges. It is leading to late delivery penalties and strained client-supplier relationships.
- There is a shortage of standardization and control in the freight billing process, which lacks a centralized approach. It leads to incomplete billing and lost customer information.
- When goods and services are returned to the supplier for replacement or order cancellation, it requires going through the invoice processing steps again. The result is confusion, wrong data entry, and time wastage, all of which affect the revenues adversely.
How ARDEM Supports Freight Billing
- ARDEM offers expert solutions for freight billing, which helps manage operations better and meet time-sensitive targets.
- The experts at ARDEM maintain high accuracy while recording, digitizing, and processing freight bills.
- The auditing services by ARDEM solve freight rate confusion, leading to smoother processing and timely deliveries.
- The high-quality data provided by ARDEM can help you better service-improvement decisions.
- The unique automated solutions offered by ARDEM process documents accurately and cheaply within a defined turnaround time.
- ARDEM helps in fastening the freight billing process. Additionally, there is an elimination of incorrect billing amounts, overcharges, lost invoices, inaccurate freight rates, and overdue bill amounts.
- ARDEM takes away the burden of tracking and tracing the shipment from you and reduces your overheads.
Outsourcing freight billing to an expert like ARDEM can help you protect confidential information and data related to bills and invoices. Businesses can get scalable freight billing solutions at reduced costs and increased efficiency without having to worry about delays and inaccuracy in the billing processes.
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