According to research by Texas A&M, 80% of shippers usually overpay for their freight. This can significantly hurt their bottom line considering over 50% of their expenditures go into transportation. For this reason, many shippers are adopting innovative strategies for auditing their freight payments, including the use of freight invoice auditing software.
However, in this digital era, the last thing you want is to choose antiquated software. You need to identify, review, and pick a product that streamlines your supply chain and offers innovative features that create efficiencies.
So, how can you choose one?
1. Review the Features
The efficiency of freight payment auditing software depends on the type of features it offers. Experts recommend picking software that emulates the services provided by professional auditing and payment service companies. The key capabilities to consider are interactive reporting, insightful metrics, invoice management, audit & analytics, and user customization.
Tender tools and order management systems are also essential. The software should offer optimal visibility to help you understand your data and key metrics.
2. Carrier Relationships
While looking for the right software, it’s advisable to consider companies that have a dedicated staff to cater to carrier relationships. Quality technology support services should help your team to focus on what matters most. It’s normal for issues to arise, but the responsiveness and professionalism of the vendor in handling such issues matters.
The vendor should work diligently to smooth out differences and conflicts that could otherwise result in downtime, delays, and reduced productivity. Be sure to review their customer support channels to ensure they’ll be available at the times when you need them.
3. Current and Scalable Technology
Creating a smarter supply chain boils down to the kind of technology deployed in your organization. The truth is, outdated technology can derail your supply chain optimization efforts. With technologies, such as artificial intelligence (AI), machine learning, and data science becoming prevalent, you need to partner with a vendor that can incorporate them into their product.
Also, their product should be able to handle your current needs and adapt to future changes as you grow. You should be able to apply their technology to all the modes of transportation your company uses.
Partner with Orca
Using the right freight invoice auditing software can make a difference in your supply chain. At Orca, we understand that you have a unique supply chain, and that’s why our product allows user customization to meet your needs better. With improved visibility for your data and analytics, you’re able to create real business value by making sound decisions based on your current data.
If you have any questions, call now at 1-844-GET-ORCA, or email us at email@example.com.