Overview
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Streamlining your freight settlement processes with a transportation management system (TMS) saves your organization both time and money. By connecting electronically with your carriers, you can automate your freight payment process, manage approvals against contracted rates, and initiate payment from your account payables system. Some of the benefits can include:
- Reduce costs by automating the freight payment process
- Increase accuracy of invoice processing
- Improve carrier relationships by reducing the payment cycle time
- Enhance visibility into accruals to enable real-time shipment budget tracking
Using the flexibility of a TMS for rate and contract management, shippers can streamline their freight audit and payment process. Whether the goal is to automate and manage the process internally or continue to use a third-party freight audit company for final auditing, you can easily configure IBM SterlingTMS to manage freight settlement for all of your transportation modes and support all of your carriers, regardless of their technology capabilities.
- Provide complete visibility into the payment process from invoice to remittance for both shipper and carrier
- Track full audit and activity history during the freight invoice process, including automatic rate triggers and charge item changes
- Enable invoice payment to be linked to status updates from the carrier
- Utilize match-pay to automatically generate vouchers if the amount is within configured tolerances
- Implement auto-pay paperless processing using self-invoice options
- Offer flexible allocation of costs by order, stop, or SKU; by physical dimensions (weight, quantity and volume); by distance; prorated; evenly distributed
- Deliver real-time visibility into freight accruals for your finance department, including variable rate charges and unplanned assessorials
- Configure accrual updates based on shipment status, including covered, departure and arrival
See how Sterling Transportation Management System can help you achieve these benefits.
