Many large shippers that outsourced freight payment to traditional third-party providers have experienced headaches and anxiety recently due to late or missed freight payments. The RateLinx freight payment solution uses clean data and advanced matching so shippers can pay carriers directly and access real-time intelligence.
Timely, Accurate Freight Payments
Our Intelligent Invoice Management (IIM) eliminates many of the freight payment issues that persistently plague logistics managers. The RateLinx platform simplifies complex freight payment operations while giving companies greater control for exception management and timely, accurate payments to carriers. Unlike traditional third-party providers, IIM provides real-time capture and matching from multiple data streams to create a clean, Integrated Data Foundation. Combining GL coding automation with this foundation of accurate data allows our customers to confidently pay carriers directly, within terms, and often with rate tolerances as low as $0.03. This approach not only reduces overall transportation costs but strengthens relationships with carriers, key components in a world class supply chain management strategy.
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Intelligence from Invoice Management
A few months ago I spoke with PYMNTS.com about how our integrated platform is giving customers the supply chain data they need to avoid late payments and other problems. Their article, “Tracing Supply Chain Payment Delays Back To Data Bottlenecks,” paints a great picture of how integrating data–not just collecting it–removes the barrier of incomplete data that is often the root cause of payment delay.
Another common pain point in the payment process is how to handle exceptions. PYMNTS.com notes in a recent article that according to an IDT survey, manual processes and invoice exceptions are among the largest pain points for AP departments. The move to intelligent processing removes these issues. IIM’s integrated data allows our customers to diagnose the underlying cause of exceptions which often leads to eliminating a manual process completely. IIM’s data integration also gives a full view to operational flows. This critical business intelligence lets companies manage their supply chain better, reduce costs, increase efficiency and guide overall strategy.
Transform Freight Payment
If you want to remove freight headaches, transform your freight payment process and create a competitive advantage, please drop me a note. I will be happy to talk about how our approach to Intelligent Invoice Management can help your company.