Beyond the Freight Bill Audit
on the extensive operational business intelligence (OBI) captured from clients’ freight invoices. nVision helped a leading supplier of automatic test equipment and interconnection systems to ef ciently manage global freight invoices for transportation providers across multiple countries and currencies. To accomplish this, nVision designed a global solution that allowed the company to roll up each division’s total transportation spending into one global database, providing worldwide visibility in a real-time environment. This capability enabled the company to cut its pool of suppliers to a more manageable number, while continuing to serve its customers. It also achieved savings through the freight invoice audit, as well as reduced internal administrative costs and transport costs. “Through the utilization of nVision’s web-based applications, the company is able to realize year-over-year savings, sup- ply chain ef ciencies, and productivity gains,” Snavely says. “We strive to accom- plish this for all our customers.” U.S. BANK FREIGHT PAYMENT Freight Audit and Payment Made Easy As a full-service, federally regulated nancial institution and provider of FBAP services, U.S. Bank focuses on
“U.S. Bank’s FBAP platform enables shippers to deliver dependable and predictable payments to carriers and helps resolve exceptions quickly and reduce errors by collaborating online, in real time.” Scott Burglechner SVP & Head of Freight Payment Product Management U.S. Bank
resolving invoice and payment disputes. Within its world-class, Tier IV data center, which offers one of the most reliable, fault-tolerant, and secure envi- ronments available, U.S. Bank employs segregated builds to prevent co-mingling of customer data. “We also safeguard sen- sitive supply chain data to help protect partners and suppliers from cybercrime,” Burglechner says. A large apparel retailer set a goal of reducing costs by millions of dollars, and needed a trusted partner to pro- vide a reliable, ef cient, and sustainable FBAP process that featured robust report- ing and strategic business intelligence. U.S. Bank’s small parcel tool provided an audit program to identify savings oppor- tunities across millions of packages per year; it also offered insights on delivery service and mode selection that provided additional savings. In the rst year alone, the retailer’s savings topped 50% of its initial 10-year savings goal. U.S. Bank Freight Payment will con- tinue to invest in products, services, and solutions that make clients’ lives eas- ier, including automation, APIs, faster payments, and advanced analytics solutions for more forward-looking deci- sion making. It will also continue to make it eas- ier to audit and approve transportation expenses when it is important to con- duct a manual review of the invoice prior to payment. And as part of the larger U.S. Bank enterprise, FBAP services will continue to bene t from investments and innovations in cloud computing, AI, security, reliability, payments, and sustainability solutions for customers, Burglechner says. n
technology, security, and reliability while delivering solutions that satisfy clients’ needs. Data dashboards, analytics, and self-service capabilities, which the bank co-creates with its clients, remain areas of focus as well. “We have multi-year investments in technology and data analytics to provide actionable insights that will help our cus- tomers improve their operations,” says Scott Burglechner, senior vice president and head of freight payment product management. Depending on a shipper’s current FBAP operation or methodology, savings in the rst year can be up to 10%, he says.
Enhancing Shipppers' Working Capital
In today’s uncertain economic envi- ronment, an increasingly important differentiator is U.S. Bank’s ability to help shippers enhance their working cap- ital by extending transportation freight payments to 60 or 90 days, or even lon- ger, without having to renegotiate contracts, Burglechner says. At the same time, U.S. Bank provides carriers accelerated payment options to meet their cash ow needs. The FBAP platform U.S. Bank has developed provides end-to-end visibil- ity for both shippers and carriers. “The platform enables shippers to deliver dependable and predictable payments to carriers and helps resolve excep- tions quickly and reduce errors by collaborating online, in real time,” Burglechner says. As a result, shippers can focus on col- laborating for strategic supply chain improvements, instead of spending time
Instead of spending time resolving invoice and payment disputes, shippers can focus on strategic supply chain improvements with freight bill audit and payment platforms.
90 Inbound Logistics • September 2023
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