Freight  Auditing

Key Features

Freight Contract Registration including domestics or international

Mapping of countries and city on the basis of world zones

Variable fee code recording and verification

Takes input invoice from user Mail Box and upload automatically

Can store hard copies of Contract and Invoices

Multiple currency line per Invoice recording possible

Supplier rating on the basis of cost and delivery lead time

Traceability of Invoice till payment details finalization

Can be integrated with legacy ERP

Service Tax calculation and reports

Multi Site, multi shipment mode, change in shipment priority and shipment type capturing possible



Freight Verification and Audit System (FVA)


Freight Verification and Audit (FVA) is a tool to register your Purchase

Contract of freight services and verification of freight invoice. Tool is

equipped with capability of recording various variable surcharges claimed by

freight supplier and validating these under audit process. Capability of

recording each element of freight invoice makes tool possible to develop

various Logistics Report for process and cost optimization


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Background:

Freight Invoice Payment and Freight Audit has been always challenge to industry. This logistics process is manual in most of organizations (Specially in Asia Pac region). Though, it has a significance percentage share in overall Logistics Cost. Industry Data speaks, ~6-10% freight spend share in overall Logistics cost. Off late industries has realized the opportunity of saving freight cost from this manual driven process..  

Problem Statement:

Freight Contracts are generally not entered in legacy system due to complexity and standardization with material Purchase Order process. Contracts are generally stored with Freight Manager as uncontrolled document with limited accessibility to other users. Retrieval of these contracts becomes a big challenge at the time freight payment and Freight Audit Process. Amendment to these contracts and ‘Contract Approval’ mechanism is manual. The second biggest problem is Freight Invoice registration is not possible in legacy system for the purpose of invoice verification (Pre payment activity). A Freight Invoice may have various freight elements such as Freight Destination, Freight Origin, Freight Supplier information, Air ways Bill details, Bill of Entry reference, Shipment type and nature, Origin charges and destination local charges etc. Passing a Freight Invoice, just by creating a Journal Voucher in Account Payable, put all Freight invoice Line level information of no use.   The last problem is encountered at the time of Freight Audit process. Auditing hard copies of freight invoices with uncontrolled copies of contract becomes challenge..

Proposed Solution:

We propose automation of process by involving a tool (Software) to capture and verify Freight Invoice against Freight Contract. Electronic Invoice upload for freight Invoice and interfaces with legacy system makes it touch less process of Bill Payment process (Supply Chain Verification and Approval and Account Payable part).  Freight spend report module gives appropriate information to optimize on Logistics Cost  such as Inbound Domestic Freight Expense, Import/Export - Air/Sea Expense, Route wise expense, Freight Supplier wise Expense, Zone and Shipment wise expense, Deviations in Freight Invoice found, Supplier Delivery Rating in terms of Invoice Error and Delivery performance etc.

Why us:

We have our Freight Verification process and Freight Audit tool available and validated after deployment with various big name organization in recent past. Our team is having Business Process Experts and IT professionals capable of customizing this process and tool as per your need. Post Sale support available at 24x7 basis to form a freight help desk unit. A Freight Audit team is also available to carry you post paid Invoice payment.