Beyond the Freight Bill Audit
The Vendor Portal also provides advance shipment notices (ASNs) so shippers can track shipments and immediately account for freight costs, he adds. ARTC Logistics studied the inbound routing expense for a long-term client. The analysis revealed that vendors were misrouting when shipping collect to the company, with the extra costs totaling about $20,000 per month. Based on this information, and to minimize the likelihood of future over- charges, the client decided to use the inbound routing portal. Conducting In-Depth Analyses Shippers looking for in-depth analy- ses of their freight expense can work with ARTC Logistics to conduct a range of studies. These include analyses of routing compliance to identify shipments that weren’t tendered to the shipper’s pre- ferred carrier; carrier report cards to measure on-time performance; evalua- tions of LTL and truckload shipments to determine those that can be combined into multi-stop, multi-origin truckload shipments; and inventory supply point studies to determine the most cost-effec- tive sourcing locations. To ensure carriers are charging ARTC’s clients the amounts to which both parties agreed, ARTC enters the contractual amounts within its own database. This runs counter to some organizations, who rely on accessing car- riers’ rates in real time. “There are some advantages to get- ting the rates in real time when you’re rate shopping for load planning,” Fisher says. “However, when it comes to freight payment and audit, having access to the stored contracted rates will allow you to be more effective in auditing the freight bill,” he adds. By continually working with its customers and their carriers, and maintaining ongoing investments in technology, ARTC Logistics is helping its shipper clients more effectively compare and contrast shipping options.
How AI Will Transform the Freight Payment Market
By Hannah Testani, CEO, Intelligent Audit Unlocking artificial intelligence’s vast potential starts with impeccably cleaned, labeled, and indexed data. Without this bedrock of standardized and reliable datasets, even the most advanced AI can fall flat. When evaluating FBAP providers, shippers should prioritize providers who are deeply committed to data normalization, cleansing, and meticulous labeling. Only then can they be assured of data that’s not just formatted but fine-tuned for immediate, insightful action. Forging Strong Relationships with Carriers The vitality of fostering and sustaining deep, respectful relationships with carriers transcends mere advice—it’s a non-negotiable foundation for our operation’s continued success. These fortified relationships not only pave the way for advantageous negotiations and bolstered trust but also lay the groundwork for collective problem-solving. The synergy between shippers and carriers underpins our operational success, and trust is its cornerstone. But trust doesn’t magically appear—it must be deliberately cultivated. At Intelligent Audit, our approach to building trust is anchored in transparency. Leveraging our extensive experience, we’ve honed assets such as our logistics network optimization suite, advanced business intelligence tools, and cloud- enabled carrier payments. How Intelligent Audit Approaches the FBAP Market At Intelligent Audit, our primary mission is to empower our customers, transforming them into more impactful and influential players in their industries. Our foundation is built on a robust technology-first ethos, allowing us not only to scale rapidly but also to furnish our diverse clientele—from startups to industry titans—with sophisticated analytics. This empowers them to derive invaluable insights and make decisions that significantly bolster their bottom lines. In the complex realm of FBAP, what sets us apart is our profound understanding of our shippers’ nuances. While many navigate their operations using standard KPIs like cost per mile or shipment, these traditional yardsticks, especially for heavy spenders in transportation, often overlook subtle data anomalies. Our challenge, and indeed our strength, lies in harmonizing these KPIs with the intricate nuances of expansive shipping operations. Continued on page 80
78 Inbound Logistics • September 2023
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