Shippers and forwarders stand to gain with automated payment technology
Shippers and forwarders alike could win significant cost savings through new technology to automate the auditing of ...
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The practise of outsourcing the audit of freight payments, or alternatively using freight payment audit platforms, began in the US – primarily by shippers of parcels who had high volumes of consignments that were individually invoiced. After the freight payment market was regulated in the US and the National Association of Freight Payment Banks formed, adoption of auditing systems became more common among the largest US shippers.
Gradually, that trend has spread to other types of cargo owners and other geographic regions such as Europe and Asia. Small parcel shippers discovered that by automating the invoice checking process, next-day deliveries were either achieved, or they could pursue refunds from their transport suppliers – which effectively meant investment in the platforms was self-funding.