Top 10 Freight Audit and Payment Solution Companies
A well-strategized implementation of a robust transportation system for managing freight bills can subsequently produce significant benefits beyond successful audits and on-time payments. As the supply chain grows complex than never before, traditional logistics systems no longer deliver on the promise. By automating the process workflows, freight audit and payment solutions can provide accurate and in-depth data required for reporting and advanced analytical use. Allowing transparency and logistics visibility in the operations will remain one of the main focuses in the coming years.
Enterprises are looking for means to monitor their freight expenses and depend extensively on the intelligence of transportation management systems (TMS). The complete supply chain costs should cover all transportation-related movements. A trend expected in 2019 is the use of single-pane-of-glass systems, more specifically known as “single window.” This trend will help businesses gain logistic visibilities if coordinated with their solutions programs. When paired with analytics, these shippers can use the interactive dashboards to derive updated and real-time insights and improve their operations.
In today’s economic status quo, it’s more critical than ever to make sure all freight operations have a holistic view of the complete supply chain network. Since this takes too much time, automating freight audit performances allows shippers and freight forwarders to address their core businesses. Evidently, freight audit and payment administration is poised to reap the benefits of AI and ML technology in the coming year, and figuring these technological trends’ implications ultimately creates a clear path to success.
This edition of Logistics Tech Outlook features companies that are at the forefront of offering freight audit and payment solutions. In the last few months, a distinguished panel comprising CEOs, CIOs, CTOs, VCs, and analysts along with the Logistics Tech Outlook editorial board reviewed the top companies in the domain and shortlisted the ones that are at the helm of tackling challenges in the freight audit and payment domain. The companies compiled in this issue have exhibited extensive business process knowledge, along with in-depth, integrated, and innovative strategies in the space.
We present to you Logistics Tech Outlook’s “Top 10 Freight Audit and Payment Solution Providers-2019.”
Top Freight Audit and Payment Technology Companies
Fortigo — a freight audit software provider — is enabling shippers to replace their dated systems with its dynamic solutions. The firm improves profitability by optimizing audits with closed-loop logistics processes such as minimizing ship-to-order time and eliminating duplicate invoices. Combining technologies such as cloud computing and data analytics, Fortigo develops best in class solutions to assist shippers in validating the accuracy of freight invoices. The firm offers a freight application that helps shippers carryout mock audits of shipment bills and generates reports on how they are spending capital. The audit reports can also be exported into comma-separated value (CSV) format to analyze freight transactions such as shipment delivery.
Intelligent Audit is an innovative supply chain technology provider focused on reducing transportation costs through automated freight audit and recovery, business intelligence and analytics, and spends optimization solutions. The company’s mission is to empower their customers with real-time, actionable information that helps them become smarter shippers while reducing time in transit and transportation costs along with improving the end customer experience. IA’s automated freight audit and payment solutions are powered by innovative anomaly detection functionality that identifies issues at a level never seen before. The company has also developed complex proprietary data normalization techniques, which provide IA’s customers with the most useful, clean output for data mining and advanced analytics.
nVision Global specializes in providing global freight invoice audit, payment and transportation spend management services for customers around the globe. Throughout its years of experience, the company has become the experts in managing invoices for all modes and services of transportation, from all over the world, in any currency, and in most languages. The company’s Sarbanes-Oxley compliant solutions allow organization to access nVision Global’s broad experience and technology that has taken the company from a regional freight audit and payment service provider, to its current role as the leading global provider of invoice audit, payment and transportation spend management services.
Orca Intelligence functions in the freight audit and analytics segment and specializes in providing a host of technology-driven solutions. With an integrated supply chain management technology, the company delivers solutions that promote efficiency at the best prices in the industry. Orca’s intuitive dashboards provide visibility, its audit teams detect inconsistencies in bills accurately, and analytics tools provide valuable intelligence to logistics teams. Focused on optimizing the supply chain, Orca’s customizable features automate manual freight audit processes and make KPI tracking convenient. Its smart comparisons and rating based recommendations enable easier choice-making.
Founded in 2002, Acuitive delivers a cloud-based platform to replace manual steps with rule-based workflows that dramatically reduces the time and cost of common shipping process. The global freight management platform allows supply chain partners to collaborate and manage shipments in real time. Acuitive also delivers solutions for expedited approval, air spot quote, shipment execution, freight audit, mailroom shipping and sample shipping platforms. Acuitive is the leading provider in the international execution segment for Global Transportation Management Systems (TMS), Ocean & Air Rate/Contract Management, Air Freight Management, Prepayment Ocean & Air Freight Bill Audit, and Inbound Vendor Routing/Compliance
Alexandretta Transportation Consulting:
Alexandretta Transportation Consulting provides global transportation spend management services such as small parcel negotiation, freight audit (such as FedEx audit and UPS audit), and shipping optimization. The firm’s expertise within the industry allows it to consistently drive significant cost savings from its clients’ transportation budgets via freight bill audit services, detailed analytics, strategic planning and small parcel negotiations support. While Alexandretta focuses on actualizing significant transportation cost reduction via negotiations support, it also provides audit and reporting solutions. Alexandretta is a woman-owned business driven by passion, integrity, and commitment
Data2Logistics is a leader in supply chain logistics, cost management and shipping bill process and payment. Data2Logistics provides a freight transportation cost-savings services portfolio and advisory services to companies who ship products domestically and internationally. Using Data2Logistics powerful yet easy to use data mining and reporting tools, users can identify savings, improve negotiations and quality of service for all modes of transportation. As a fourteen-time recipient of Inbound Logistics’ Top 100 Logistics IT Service Providers, the company works with both clients and carriers to eliminate billing errors from recurring and to continuously improve and optimize their logistics
FreightWise was founded to fill a gap in the transportation space by providing a SaaS platform that solves challenges in clients’ visibility, optimization, manual processes and cost. By leveraging technology, innovation, agile development, and industry expertise, the firm tightly integrates with its clients’ existing infrastructure to reduce time, money and resources spent on shipping. Clients partner with FreightWise, LLC. to leverage its carrier volume, technology, and industry knowledge to reduce supply chain costs over 20% in most cases. The firm’s focus includes Parcel, Less Than Truckload (LTL), Truckload, and International freight modes
Global Transportation Management Solutions:
Global Transportation (GTMS) are industry leading freight management experts, its business intelligence (BI Tools) allow today’s logistics professional to easily and seamlessly rate, route, track and pay all invoices in house with one solution. GTMS solves this by offering a modular, scalable and intuitive SMES (Shipment Manifesting & Execution Software) platform that supports all modes of transportation. Users can rapidly connect parcel, LTL, full truckload, rail, ocean and air carriers on a single platform. The solution is built on the latest cloud technology, GTMS can seamlessly scale to meet any company’s complex needs. maximizing the visibility and savings across your entire transportation network.
RateLinx is a complete Supply Chain and Logistics visibility and analytics DaaS platform built to solve complex supply chain problems.The company’s mission is to revolutionize the Supply Chain by partnering with customers to accelerate their supply chain intelligence by integrating their logistics data and providing customized analytics, dashboards, and reports. RateLinx offers a suite of supply chain optimization solutions. The firm’s Integrated Data Foundation cleans and standardizes immense volumes of data to determine trends and patterns. Rate Linx’s data-first Logistics-in-3D approach informs supply chain optimization by applying business rules, trends, and patterns.
