Improving freight and carrier invoice management accuracy can be tedious and time-consuming. You might be manually entering data into spreadsheets or relying on outdated legacy systems no longer fit for purpose. While you know there’s a problem, you might not know there’s a better way.
CloudLogix knows that invoice management is a critical aspect of your business, and we’ve designed a carrier invoice management system to make it easier.
Our cloud-based platform offers a more transparent way to handle freight and carrier invoices. By leveraging our automated solution, you can ensure that invoices are verified and paid promptly while reducing costly errors. As a result, the time you save can be put to better use supporting your core business.
Discover the problems we can help solve using the CloudLogix platform.
Common Errors With a Carrier Invoice Management System
When companies have high-volume invoice management needs with no cohesive system, errors become commonplace.
1. Overpayment
Human error in the payment process can easily lead to duplicate payments, and it’s difficult to catch them when dealing with multiple invoices from different carriers. Overpayments are just as likely when manual data entry is involved as it’s easy to enter the wrong amount accidentally.
2. Lack of Oversight in Approval Process
Invoices can be approved without being properly reviewed, and incorrect freight charges can go unnoticed. Once they’re eventually discovered, businesses are faced with the challenge of recovering the money or writing off the loss.
The time and resources required to conduct investigations and dispute charges are incredibly costly, both in terms of money and manpower.
3. Misapplied Funds
Misapplied funds are also a frequent issue. Conflicting records or incomplete data can cause inaccuracies that are hard to uncover unless you have suitable systems in place.
Manual invoice management processes can also cause delays in payments, which can harm vendor relationships and lead to additional costs.
What Causes These Errors?
These errors have many causes, but inadequate software is often a common denominator. Companies without the right software in place often fail to use it as designed. That’s why it’s critical to use a carrier invoice management system that will accurately automate invoices and match them with purchase orders, automate data entry, and provide comprehensive reporting.
Additionally, cumbersome invoice approvals can slow down your company’s accounts payable processes and make errors more likely. An intelligent freight invoice management system should streamline the approval process with automated workflows and provide visibility into the status of any given invoice.
Another common issue contributing to these errors is missing or inadequate auditing processes. Without the right audit protocols, it’s almost impossible to ensure accuracy and catch discrepancies.
Automated audit protocols can identify errors, duplicates, and discrepancies with ease. Knowing is half the battle, so teams can virtually eliminate human error with a solid system in place.
Finally, complex manual cost center assignments can also lead to misallocating funds and other errors. Automated cost center assignments can eliminate this issue and ensure that the correct costs are assigned to the proper accounts.
Automation Is the Way Forward
The bottom line is that supply chain automation is the key to reducing errors and improving accuracy. While accounting practices are some of the last elements for many businesses to upgrade, they’re just as important as any other aspect of your business.
Manual and burdensome processes can cost a company thousands — even millions — in time and tangible funds. Your resources are better off dedicated to managing customer relationships, building new products, and finding other ways to grow your business.
By simplifying and streamlining freight or carrier invoice processing with a powerful automated solution like CloudLogix, you can focus on the areas of your business that fuel growth and innovation.
Our software platform helps take the guesswork out of invoice management. We can automate many of your business’s manual processes and enable your team to log all activity for easy access and accountability. This effort will support compliance efforts and provide peace of mind.
Why CloudLogix to Support Your System?
Many carrier invoice management systems take a one-size-fits-all approach. These solutions leave you dependent on your own resources to customize and maintain them, resulting in more intensive IT resource needs, higher costs, and longer implementation times.
CloudLogix is different. We tailor our platform to fit your business rules and accounting practices. Our platform integrates with existing systems, and our team of experts is available to provide ongoing support.
But we’re not just a software provider — we strive to be a partner. We take the time to understand your company’s unique needs so that you can get the most out of our platform.
When you work with us, our team can help you automate as much as possible, leaving only exceptions for manual management. Better yet, we can do this quickly and painlessly without replacing your accounting system.
Our solution is easy to learn and use, making it perfect for all sorts of businesses. We also offer the flexibility to scale up or down as your business needs change.
Ready to Discover a Better Way to Manage Carrier Invoices?
Support cash flow, compliance, and accuracy with CloudLogix’s game-changing invoice management system. No matter what industry you’re in, CloudLogix can help simplify and clarify your freight or carrier invoicing process. We guarantee proven results within your first month of usage — so why wait?
Take charge of your accounting and get on board with the automated solution that can revolutionize invoice management. Try CloudLogix now and see how you can save time and money with the support of a hands-on partner committed to helping you improve your business processes.
Contact us today to schedule a demo of our platform. We can’t wait to show you the possibilities of implementing our carrier invoice management system.
