Freight Invoice Management: Why is it crucial?

Freight Invoice Management

As a trusted IT partner for top logistics companies across Africa and India, we believe that freight invoice management plays a big part in maintaining a smooth carrier-shipper relationship. Our in-house engineers at Ripples-FMS had given predominant importance to a smarter payment, expense and invoice Management module while designing the application.

So what does an efficient freight invoice management system do besides handling the day to day logistics operations and transportation expense? What are the advantages it should have? For starters it should reduce the stress on your accountants and increase the clarity on the overall carrier invoice requirements. It should also help in curbing high logistics costs that is generally increasing by the day. Freight invoices are generally considered a complex workflow thanks to its various complexities and high chance of calculation errors. The need of the hour is completely customized and automated transportation cost management software.

Concerns faced by Logistics companies on Logistics and Transportation Expenses

Let me throw some light on the issues and concerns that are faced by transportation and logistics companies over expense and invoice management.  The topmost priority for any software should be the automatic calculation of income and expenses. This should eliminate any errors from user level and provide accurate invoices. Also, there should be a multiple level verification that should ensure that no manipulations are being done. The application users should have the right to capture complete order details which will automatically calculate the expense and income side. Regular e-mail alerts should be provided on pending expenses approval and trips to be invoiced. The standard expenses should be easily configured by top management and standard rates must be set.  Overall the application should streamline complex invoice management procedures and identify any incorrect payment transactions.

In Ripples-FMS we have in-built freight invoice management module for capturing all logistics costs against an invoice, managing demurrage and losses, various reporting and alerting options on financial irregularities etc. So if you are in the lookout for an efficient billing & invoicing software with expense tracking and much more, please contact us for a free demo and consultation. 

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