Small Parcel Audit isn’t just a checkbox on a to-do list; it’s a savvy business strategy that cuts costs and strengthens carrier relationships. Whether it’s a late shipment charge or pesky duplicate charges, parcel audits help you reclaim money that your carrier is overcharging.
Plus, with premium data on hand, you can negotiate your contract with leverage and savings opportunities. Click Here to learn more.
Incorrect shipping invoices cost businesses money. These mistakes result in lost profits and impede the level of service that customers expect from their companies. Using an effective small parcel auditing process can help your company avoid these errors and save you money on freight costs, parcel carrier charges, and other costs associated with the logistics of shipping.
A good small parcel audit software can catch errors as soon as they occur, giving you the power to resolve them before they have a chance to impact your bottom line. Choosing a platform that supports flexible ingestion and unified data management will also make it easier to interpret this data at a business unit or GL code level. This data can then be incorporated into your freight and parcel audits.
Getting rid of these errors is important to your business because every dollar that you lose to a shipping error is a dollar that could have been invested back into your organization. Whether this is through refunds or discounts, this money can be used to boost productivity and growth.
These mistakes can also lead to customer dissatisfaction and negative online reviews, causing your company to lose revenue and potential future business opportunities. However, implementing an effective small parcel auditing strategy is the best way to eliminate these costly errors and get your money back.
Some common mistakes that businesses make on their shipping invoices include adding extra fees, misinterpreting dimensional weight, and not inputting accurate shipment addresses. These errors are usually the result of a combination of human and system issues. Companies can minimize these errors by implementing an automated invoice validation process and using shipping software that has the ability to compare data points in real-time.
Another way to reduce shipping costs is by utilizing regional carriers for last-mile delivery services, which will typically be less expensive than national options. Companies that have a warehouse or distribution center can utilize these carrier services to cut costs and improve their bottom lines. Moreover, they can also use their existing shipping contracts to negotiate lower rates.
Automated data collection
Whether you’re managing e-commerce shipping or logistics for an organization of any size, you need the right tools to keep costs low. Automated parcel audit software offers powerful analytics and insights into your operations, boosting the potential cost savings you can achieve.
These systems are built to help you spot errors in the process, and even better, they alert you to them in real time. This means you can catch mistakes before they have a chance to spiral out of control and make costly impacts on your bottom line.
This technology can also be integrated with warehouse management systems (WMS) to ensure that the audit data is synchronized between your shipping processes and the information provided to your carriers. That way, any discrepancies between the two can be easily identified and resolved, boosting efficiency.
Parcel audit software can be a game-changer for e-commerce and logistics companies that are struggling to manage increasing shipping costs and rising customer expectations. With advanced techniques and innovative technologies, these systems can uncover overcharges, wrong rates, and billing errors that aren’t always caught manually. Uncovering these hidden expenses can help you save up to 2% to 5% of your transportation budget, and that’s not something you want to miss out on.
Besides saving money, small parcel audits can be used to strengthen relationships with carrier partners. Providing them with regular audits allows you to build trust and resolve issues more effectively. That can ultimately improve service levels and boost your bottom line.
Overcharges from incorrect weight entries and misapplied shipping rates can add up quickly. Finding these errors through a small parcel audit lets you reclaim funds that belong to your business, and that’s a big deal in terms of reducing your shipping costs. Every dollar that your carriers steal from you is a dollar less you can invest in your business, so making sure you’re not paying for unnecessary services is critical to your success.
While reliable carrier services are essential for a growing business, footing the bill for their mistakes is not. With the help of a trusted small parcel audit partner, you can find and recover these errors to reduce your shipping costs and boost profits.
AI and anomaly detection
The accuracy of data is vital to any business, and shipping is no exception. The smallest errors in invoices can add up to significant shipping costs. Anomaly detection systems are a great tool for detecting and correcting these errors. This software is available from a variety of freight payment and auditing services providers. It can help you identify shipping errors and claim refunds from shipping carriers.
Small parcel audits are an excellent way to find shipping errors and overcharges that can impact your bottom line. These services review each shipment to identify service failures, like late deliveries and voids, and convey them to your shipping carrier for refunds. The process is a valuable part of your shipping workflow, and it can save you thousands in shipping expenses.
Anomaly detection through AI can transform the freight auditing process without relying on human error. This technology has a number of applications across several industries, including banking, healthcare, and manufacturing. For example, fraud detection systems use AI to analyze patterns in transactions and loans to spot anomalies that could indicate suspicious activity.
In the past, manual auditing was the only option for shippers to uncover errors in their freight invoices. This involved employees pouring over shipping invoices, reviewing carrier contracts, loading rate schedules, transmitting carrier remittance, and claim monitoring. The process was labor intensive and time consuming. However, newer technology has improved this process by automating it and allowing employees to focus on other tasks.
SSI offers a comprehensive suite of freight payment and auditing services that can be customized to the needs of your company. Our team of experts can help you get more from your shipping system, including optimizing your transportation costs.
Anomaly detection through AI is a powerful tool for improving your shipping operations and bottom line. It can reduce your shipping costs by identifying errors and overcharges, and it can also help you negotiate better rates with shipping carriers. Anomaly detection can also improve your customer satisfaction by ensuring that your customers receive their orders on time and in good condition.
Convenience
As a shipper, it’s important to know the current shipping rates and routes of your carriers. This can help you optimize your delivery strategies and lower your transportation costs. It also helps you stay ahead of rate increases from the carriers, resulting in savings for your business. However, it can be challenging to keep up with the changing market conditions, especially when it comes to adjusting your shipping strategies and rates. This is where small parcel auditing can come in handy. It can help you sift through the complexity of rates and routes by finding errors and issues that can be rectified.
Parcel auditing can save you thousands of dollars in overcharges and billing discrepancies by identifying errors like mislabeled packages or inaccurate weight measurements. In addition, it can help you streamline operations and eliminate costly mistakes that result in poor customer service. Additionally, it can give you the leverage you need during carrier contract negotiations.
Inaccurate invoices are not just a nuisance for your company; they can drain your bank account and hamper your growth. With the right freight payment and auditing partner, you can reclaim money paid to your parcel carrier due to shipping invoice errors. In addition, you can use the money saved to invest back into your company.
Regular small parcel auditing can also help build a solid relationship with your carrier. When your carrier sees that you are consistently getting your invoices correct, they may step up their services and offer better terms on contracts.
To get started, choose a freight auditing solution that offers an online portal for your company and has a linkage with the parcel carrier’s systems. Ideally, the system should also provide real-time parcel tracking until your shipment is delivered. A fully automated small parcel auditing solution can save your team time and help you cut down on shipping errors and improve your bottom line. If you decide to go with an automation system, make sure the solution is easy to use and offers a free trial period for new users. Additionally, the solution should have a robust feature set and provide a comprehensive analytic report.