Tired of freight invoice discrepancies that cost you time and money? Sheer Logistics makes sure your freight bills are on time and accurate.
Instead of bogging down your finance team, carriers will submit your freight invoices to Sheer’s invoice processing department. Leveraging SheerExchange, we can receive invoices from thousands of carriers in virtually any format; Mail, e-mail, EDI, or API.
Upon entry into our system, each invoice undergoes a series of standard validations and customer-defined business rules to ensure accuracy and compliance. These validations include checks for duplicate invoices, presence of required data, and other safeguards to protect our customers and facilitate seamless processing. Simultaneously, the software applies customer-specific business rules, empowering clients to tailor actions based on invoice data. For instance, customers can opt to review invoices exceeding certain thresholds or containing specific product-country combinations. By enabling seamless integration and automation of business logic, we empower customers to customize and optimize their freight bill audit process effortlessly.
All invoices are processed through Sheer’s robust rating engine to ensure the billed amount matches the agreed upon rate stored in the TMS. Customizable tolerance thresholds can be implemented to ensure we address high-variance invoicing errors. We’ll also check for all possible overcharges including:
Once invoices pass through the audit and verification stages, they are approved for payment. Payments may be scheduled according to predetermined terms or as per negotiated agreements with carriers, but you can rest assured that all invoices are paid on time and in full.
Sheer’s custom dashboards and reporting tools provide insights into freight spending, carrier performance, and billing trends. Sheer’s middleware, SheerExchange, enables access to multiple data sources, including ERPs, WMS, TMS and more. This data helps identify cost-saving opportunities, optimize transportation strategies, and improve overall supply chain efficiency.
When discrepancies are found, they need to be remediated. This solves the current issue, but each error can be an indication of a deeper problem. When we do freight audits, variances in freight charges can be found in some key areas:
Shipper inaccuracy – No matter how automated your supply chain processes are, there is always a human element, and without proper checks, shippers can make mistakes.
Detention – These are penalty fees carriers charge when the shipper delays pick up beyond an allotted time frame.
Accessorial charges – These are fees charged when a carrier performs freight services beyond normal pickup and delivery.
The Sheer TMS is core to our Managed Transportation Services offering. It’s your ultimate solution for efficient, cost-effective, and streamlined transportation management. From Planning to reporting and insights, the Sheer TMS is an end-to-end solution that provides a full suite of tools for bringing order to your unique supply chain. Check out this brief overview, and if you are ready to leave emails, spreadsheets and underpowered TMS behind, contact us for a demo.
Why should you perform a freight bill audit?
Performing a freight bill audit is essential for identifying and correcting billing errors, leading to significant cost savings and improved financial accuracy. It enhances efficiency by reducing manual invoice verification and ensures compliance with transportation agreements, preventing potential disputes. Additionally, audits provide valuable data insights for strategic decision-making and help detect fraudulent activities, ultimately supporting better cash flow management and stronger carrier relationships.
How do I verify freight charges?
There are several steps and methods for verifying freight charges. As your freight audit partner, Sheer verifies your freight charges by comparing invoices with your contracts, checking for common billing errors, and auditing shipments regularly. We ensure the weight and classification match what was quoted, reconcile charges with delivery receipts, and address discrepancies promptly. Sheer also utilizes freight management software to automate audits and track shipments for improved accuracy and efficiency.
What is the freight payment process?
The freight payment process involves carriers submitting invoices, which are then verified against shipment documentation and contracts. An audit is conducted to identify any billing errors, and discrepancies are resolved with the carrier. Once verified, invoices are approved and payments are processed. Detailed records are maintained, and data is analyzed to monitor carrier performance and inform future shipping decisions.
What is freight post audit?
A freight post audit is a detailed review conducted after freight bills have been paid. It involves examining past freight invoices to identify and correct billing errors, such as overcharges, duplicate charges, or incorrect rates. The audit ensures that payments made align with contractual agreements and helps recover any overpaid amounts. Additionally, insights gained from post audits can improve future shipping practices and carrier negotiations.
Our mission is to build trust, use our brainpower for the best interests of every customer, and always deliver extraordinary results. Let’s Think Logistically.
