According to a survey conducted by the State of Logistics Outsourcing in 2010, shipping companies spend about 54%of their total logistics cost on transportation. Because of these huge expenses, shipping companies need to focus on other operational areas that can minimize cost and maximize returns on investment. One of the areas that most of these shippers are concerned about is auditing of the freight invoices, ensuring accuracy of their payment and improving their throughput.
As a result, shippers are now choosing to outsource their freight bill payment and audit services to specialty businesses. Unlike traditional freight bill that dealt with the seemingly simple task eliminating errors, today’s services go an extra mile to ensure that they help unearth important insights that can lead to huge savings.
Freight bill audit and payment companies have undergone an evolution and are offering services beyond their limited scope of recouping a firm’s spending for freight payments already. Therefore, shipping companies can be able to obtain a lot from their carrier data supply chain visibility while at the same time ensuring that the costs are maintained at the bare minimum.