Beyond the Freight Bill Audit
First-year savings for customers switching from manual processes to Fortigo’s freight audit solution can range from 7 to 12%. Established customers typically see annual savings ranging from about 1 to 5%, with the exact rate depending on the volume of shipping and complexity of their transportation network. Fortigo is a value-add solution with customers seeing return on investment on day one of activation. From the early days, the team opted to grow organically and focus on delivering customer-oriented solutions. This past July, Fortigo announced the opening of a new operations center in Greece. The new team will include supply chain and software development experts and is expected to double in size over the next two years. “As demand for cloud-based supply chain solutions rapidly grows in Europe, we are excited to expand our presence,”
“As shippers are challenged to do more with less, freight audit providers are helping them reduce supply chain costs.” Keith Snavely SVP Global Sales nVision Global Technology Solutions, Inc.
partnering with its clients and acting as an extension of their logistics and accounting departments, and providing a one-stop, all-inclusive freight audit, payment, and transportation spend management solu- tion. This will encompass several systems. One is nVision’s Global Payment Solutions. With the onset of the Sarbanes-Oxley Act and as transporta- tion expenditures receive closer scrutiny, companies are looking to partner with a single-source provider that can pro- vide payment solutions on a global scale, Snavely says. “nVision Global has seven corporate-owned, strategically placed, full-service processing centers on three continents to accommodate our custom- ers globally, as well as meet their regional requirements,” he says. In addition, nVision Global will con- tinue to evaluate customers’ global needs and open additional centers as needed to meet them. Expanding Capabilities nVision is also working to maintain its edge in transportation spend man- agement, building on its extensive, internet-based information analytical tools, as well as its data cleansing/nor- malization and harmonization processes. These initiatives will add greater value to shippers’ data analysis, Snavely says. Additionally, as companies need to do more with less, nVision’s clients have come to rely on the company’s analytical tools to help them optimize and stream- line their overall supply chains. Along with global mapping, trending, benchmarking, ad-hoc report writing, and other capabilities, nVision Global continues to expand its nSight Global Freight Management Analytics Tool. By building on its transportation man- agement services and solutions, nVision Global is moving beyond simply process- ing and paying invoices and capitalizing
VISION GLOBAL TECHNOLOGY SOLUTIONS, INC. Complete and Global Freight Management “It’s often said that today’s differentiat- ing features are tomorrow’s minimum expectations,” says Keith Snavely, senior vice president, global sales. With that in mind, nVision Global is preparing for this shift through its ability to pro- vide extensive data capture, to clean and normalize data, and to offer strong ana- lytical tools. “Our nSight Global Freight Management Analytics Tool is a robust, evolving solution featuring hundreds of key performance indicators with thou- sands of variations that allow the user to streamline and optimize their global sup- ply chains,” he says. Over the next few years, nVision Global will build on its success by
Founder and President George Kontoravdis said in a statement. The new operations center will tap into the highly educated and experienced local talent pool, Kontoravdis added.
How large does a company’s transportation spend need to be before engaging a freight bill provider makes sense? While no single number will apply to all organizations, it’s possible to draw a few guidelines. An FBAP provider tends to start making sense when shippers are spending about $500,000 annually on freight. “At this point, ine¢ciencies in back-o¢ce process exist and an FBAP service provider can automate the process and lessen the cost for the shipper,” Matthews says. Looking at shipment volume, a shipper with more than about 30,000 shipments annually will typically realize economic benefits by outsourcing freight audit, Snavely says. These include freeing internal resources from handling this function, enhanced data capture, and automated general ledger account coding, among others. In addition, the shipper will gain access to the freight bill provider’s technology and services, such as rate negotiation preparation and transportation management solutions. When to Engage an FBAP Provider
88 Inbound Logistics • September 2023
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