Factor Freight Invoice Management
Factor Freight Invoice Management (FIM) saves you thousands of dollars in lost money and streamlines your entire shipping process.
We do all the work, saving you time, money and stress.
How it’s done:
You provide us with your shipping data and we consolidate all of it into one convenient database. Using our own specially designed software, we comb through your shipping data, find issues that are costing you time and money and fix those issues for you.
We regularly save companies in excess of 10% on their bottom line and we can do it for you by:
- Identifying regularly occurring billing errors.
- Pinpointing duplicate charges or bills for non-existent transactions.
- Consolidating your invoices into a database for easier analysis and reporting.
- Providing you with an array of interactive dashboards that highlight issues and opportunities for cost reductions.
- Matching shipment weights and dimensions for consistent accuracy.
- Targeting internal errors such as incorrect service and/or carrier selection.
- Performing cost allocation during the validation process.
Factor Freight Invoice Management simplifies shipping and saves you money.
Why use FMI?
We regularly find up to 25% of transactions do not match the agreed upon contract rates. In most situations the cost paid is higher than the agreed rate due to a litany of factors.
With FIM, you can:
- Streamline difficult and tedious administration processes.
- Identify incorrect transactions prior to payment.
- Upload invoices in a format that is compatible with most accounts payable systems.
- Eradicate overpayments.
- Pay carriers in accordance with the contracts you’ve signed with them.
- Cost-code transactions accurately and consistently.
- Have a controlled and transparent approval process
- Use correct charge weights and units consistently.
Keep Your Contracts Organized
When you use FIM, you also get excellent administration support for all of your transport contacts. Simply catalogue digital copies of your contracts, rate tables and similar documents for quick reference. You can search by rate, route, service, account — whatever details you have on file.
- Consolidate your physical contracts.
- View rates and other pertinent data.
- Design a master table for accurate logistic comparisons.
- Optimise freight audits, reviews and tenders.
The contract management feature is useful for storing historical information. When carrier rates change across the business, the system will update accordingly. We use rigorous authorisation protocols to ensure your contracts are always current and accurate.
FIM can also log fuel and surcharge variances as well as fuel levy variations.