01 Aug Freight Bill Audit & Payment: You Save More with Our Exceptional FBAP Services
Freight bill audit & payment (FBAP) services from SSI provide our customers with a remarkable eight-to-one ROI on average. That means when you choose SSI, for every $1,000 you spend on our services, we recover about $8,000 in savings for your company. Some SSI customers recover tens-of-thousands of dollars every month.
If you are working with another FBAP provider and are dissatisfied with their performance, now is the time to contact SSI.
Or, if you are manually auditing and paying your freight bills in-house, please stop. Let SSI take that tedious, time-consuming assignment off of your desk.
We are a global, Fedex-certified provider of FBAP services. We audit and pay domestic bills in USD and international freight bills in their local currencies. However, if you are obligated to pay international bills in-house, we can still save you up to 50% on every transaction compared to what most banks charge.
Further, SSI can help you transform your freight data into valuable insights so your business can make continuous process improvements.
SSI has been a trusted freight bill audit and payment provider for decades. After reading this post, you will understand the many ways you can save with our exceptional FBAP services.
CUSTOM, AUTOMATED FREIGHT AUDIT SERVICES
When you choose SSI, you benefit from our thorough multimodal freight audit process that meticulously examines, validates, and reconciles all of your global freight invoices for accuracy.
It’s likely many of your freight invoices are complex because they include a host of charges, discounts and surcharges. Errors or inaccuracies are more common than you may realize. Depending on who you ask, billing errors are found on 10% to 25% of transportation invoices.
Because billing errors are so common, the SSI freight audit process is exacting, automated, and customized to your transportation network.
Empowered with these attributes, SSI audits can accurately verify if every freight-bill charge is in compliance with the established rules and contractually agreed-to parameters within your carrier contracts. Whenever a charge deviates from the established rules, we take exception to any discrepancy.
You may be surprised to learn many other providers are not nearly so thorough. In fact, some only spot-check invoices or use an imprecise one-size-fits-all audit process. That is easy work for them. However, when they cut corners, it minimizes your savings.
At SSI, we maximize your savings with a modern, robust freight-audit process that is designed to meet your current needs and easily scales as your business needs evolve in the future.
GLOBAL FREIGHT PAYMENT SERVICES
After completing a best-in-class freight audit, SSI can pay your freight invoices as well.
There is no reason for your accounts payable team to process and pay hundreds of carrier invoices from around the world. Our streamlined freight-payment service makes quick work of what is a slow, cumbersome headache when managed in-house.
6 reasons to have SSI execute freight payments on your behalf.
1. You no longer need to set up wire releases for new carriers. We handle that for you.
2. Further, we have strict controls on wire transfer set-ups. For example, we require written authorization from carriers during the set-up process. We also have dual-controls on every release to ensure each wire-transfer is accurately executed.
3. You save time as carriers contact us, not you, for wire confirmations when needed.
4. We pay carrier invoices in more than 150 foreign currencies, which means you don’t need to deal with banks on international payments. We can pay in any currency not sanctioned by the US Treasury department.
5. You no longer need to be burdened by carriers who are questioning whether payment has been made or who need remittance details. Instead, we answer their questions directly, because we have the payment data.
6. Our freight bill audit and payment customers enjoy complete transparency, with a single system of record from audit through payment confirmation.
FX ADVANTAGE PLATFORM SAVES TIME, MONEY FOR THOSE WHO NEED TO MAKE INTERNATIONAL FREIGHT PAYMENTS IN-HOUSE
If you are obligated to make international payments in-house, you can easily benefit by remotely accessing our FX AdvantageTM platform to complete your cross-border payments.
Many financial institutions tack on additional fees when handling foreign currency conversions. Further, their process can be slow, which exposes your business to currency fluctuation risk. Delayed payments may cost more than you expect and can also damage your relationships with carriers around the world.
The FX Advantage payment solution reduces your currency conversion costs by up to 80% and virtually eliminates currency fluctuation risks as your payments are processed quickly.
Further, the recipients can receive their payments directly to their bank account in their country’s currency.
Our FX Advantage platform provides industry leading security that ensures safe, stable transactions.
- Account Protection: Multifactor authentication & cryptographic digital signatures.
- Financial Control: You transfer funds directly to the recipient’s bank account.
- Banking Continuity: Your current bank, bank account and banker relationship remains unchanged.
- Blockchain Records: You have secure access to your transaction history.
- IT Security: Zero risk of IT vulnerabilities to your business, because no IT integration is required.
To learn more about FX Advantage and all the benefits of using our platform for your international freight payments, email us at info@ssui.com.
TRANSFORM YOUR FBAP DATA INTO VALUABLE INSIGHTS
In addition to the savings you will enjoy from our freight audit and payment services, you and your team can gain key insights from your shipping data through the powerful business intelligence reports and user-friendly data visualization tools we offer.
Our resources enable your team to measure performance, reduce costs, maximize efficiencies, and implement sustainable improvements.
- Data analytics dashboards provide clear, accessible intelligence.
- Tools are filterable and customizable.
- Monitor KPI’s and other shipping metrics.
- Review relevant financial reports.
- Identify expense anomalies and detect emerging trends.
- Improve logistics planning.
- Optimize freight carrier usage and analyze accruals.
- Research historical and predictive analytics (freight, accessorial charges, fuel etc.).
- Study carrier data quality analysis (missing POD, incorrect shipment dates, classify dirty data, etc.).
- Analyze fresh data routinely to make continuous improvements.
- Implement programs for long-term, sustainable supply chain optimization.
FREIGHT BILL AUDIT & PAYMENT (FBAP): SSI HAS A HISTORY OF DELIVERING EXCEPTIONAL RESULTS FOR OUR CUSTOMERS
SSI, a trailblazer in the freight audit marketplace, was founded in 1989 as Software Solutions Unlimited, Inc. We possess uncommon know-how and serve a wide range of industry leaders on a global scale.
Our experience is virtually incomparable, as we have audited hundreds of millions of freight and parcel invoices since our inception.
To enjoy all the benefits SSI freight bill audit and payment services provide, please contact us.
SSI blog post entitled: Freight Bill Audit & Payment: You Save More with Our Exceptional FBAP Services