Freight Bill Audit
Why outsource Freight bill Audit – the processes and advantages
As a shipper, you could be spending thousands, if not millions of dollars on freight. This means hundreds of invoices raised and thousands of transactions a month that pass through you and your money flows out with them. Although Audits may have crossed your mind, often auditing a Freight Bill is kept on the backburner for many reasons.
A cumbersome process to run through
It is not easy to invest into resources or allocate your in-house team to audit the freight bills as this means a considerable investment of time, money and experienced resources, which otherwise would be earmarked for core tasks within the department and the larger goal of the business
Cost of expertise in the domain
Allocating a resource for audit is not an easy choice as the process requires a certain amount of experience in Freight bills and a range of skills that showcase the expertise within this area. To employ someone in-house for this can be an expensive process.
Limited importance placed on audits
Often companies believe that the in-house team is doing an appreciable job and hence the need for audits is negligible. Many a time your in-house resources will find errors which re-affirm your belief that all is well and your money is being well utilised.
Freight bills audit is a non-core task and is not the primary focus of the business and the finance and accounting department, hence the reviews may not be given the due importance.The above points should now lead us to the question of why Audits of freight bills is essential and how you could gain from this process. We also look at the fact that outsourcing this process is the most viable solution given the costs and complexities of the process. Let us also review this point within the advantages we lay out for you as below:
Loss of revenue is significantly saved
The hundreds of transactions each week translate to millions over time, and this means even a few cents lost in various transactions could lead to thousands of dollars in losses, if not more. According to many pieces of research as many as 30% of all freight bills have errors. Your invoices thus could be leading to more massive leaks in your revenue.
Pay for what you get and not for the process
Pay for delivery model means you get a pre-audit bill and a post audit bill, and you only pay for the errors found. The revenue sharing of costs saved depends on your agreement with the BPO for freight audit bills, and you see yourself in a profitable position of only having to pay for the deliverables (invoicing errors in this case) and not for the processes and resources employed.
Allocate your resources for primary tasks
Outsourcing freight audit bills mean you can allocate primary responsibilities to your in-house team. This outsourcing translates into more significant growth for your firm and getting greater efficiency on your core tasks.
Outsourcing this to a BPO that works 24x7 means you could be allocating sure lots at the end of the day and have them ready by the start of the shift the next morning. That allows you great advantages and having a working partner even when you are allowing yourself some free time.
Reporting and progress monitored like an in-house team
Working round the clock and having a dedicated team of resources from the outsourced firm will enable you to control tasks and ask questions anytime, which is even better a scenario compared to your resources.
Use the expertise and experience
The auditors have extensive experience and only perform the core audit task as individuals and a team, hence allowing you the usage of trained, non-hired staff that has the domain knowledge and expertise you require.
The above advantages should throw enough light on the distinct advantages you find yourself gaining as you outsource Fright Bill Audits. When you outsource to Max BPO Outsourcing, you are allowing a set of experienced and dedicated team members to work on your process, saving you time, money and allowing you to focus on the more significant growth of your business. Let us review how the process works.
- Your firm sends the invoices billed over the last six months in a bulk form to us as the Business Process Outsourcing unit
- We run the process of tallying the invoices to the price agreements and the procedures
- We then file a claim on your behalf.
- Your company will receive a check when the payment is processed.
- We can also run pre-audits for you before you make the payments. This allows you the advantage of tracking the error and saving on over-payments.
- You pay us for the deliverables alone