Ocean Freight Bill Errors Pilfer Profit from Your Bottom Line

2009-07-08 06:20:57 - Freightgate, a leader in on-demand SaaS technology solutions for the freight logistics industry, makes it easier for manufacturers to identify costly ocean freight billing errors using its Pay-Trek!® solution. Visit Freightgate at www.freightgate.com.

Logistics insiders secretly acknowledge that one of out of every three ocean freight bills have billing errors. Ocean freight bill errors pilfer profit from the bottom line.
These ocean bill of lading errors can range from surcharge miscalculations and rate classification errors to invoicing shippers for incorrect movements. Some freight bill errors may be only a few dollars per bill of lading but over an annual period can accumulate upwards to thousands of dollars.

In today’s competitive marketplace, every manufacturer is searching for solutions to lower ocean freight transport costs. Most logistics departments concentrate on their ocean freight procurement process and aggressive rate negotiations with carriers. Only a small percentage of logistics departments audit their ocean freight bills. Most delegate the payment processing responsibility to accounting clerks who in most cases are bewildered by the complexity of ocean rate tariffs, freight routings and numerous surcharges.

“In this budget conscious era where profit is paramount, corporate initiatives for freight bill audit is gaining in magnitude says Nick Matyas, Freightgate’s Vice President of Strategic initiatives. Financial managers keenly understand that their logistics department can make or break the company’s bottom-line. Failure to audit freight bills is by far one of the largest cash flow drains.

Logistics departments using Freightgate’s Pay-Trek!® software can quickly audit freight bills for accuracy finding overcharges which usually go undetected. Pay-Trek!® on-demand functionality enables close collaboration, data sharing and cost control management between intercompany logistics, accounts payable and financial departments. Pay-Trek!® is easy and affordable to integrate into a company’s internal ERP system.

“Pay-Trek!® ensures that manufacturers receive the transport services as promised from ocean carriers at the agreed upon contract tariff. Pay-Trek!® improves cash flow by catching errors in pre-audit before payment rather than trying to recover cash through post-auditing.” says Matyas.

Freightgate’s Pay-Trek!® solution along with Tariff-Trek!®, its contract and quote management module, are the best combination to maintain control of ocean rates and negotiated tariff contracts. Freightgate provides manufacturers with faster, more granular and event-driven decision-making to achieve seamless visibility, end-to-end collaboration and cost control management throughout their supply chain lifecycle.

For more specifics on Pay-Trek!® and Tariff-Trek!® contact Freightgate on the web at www.freightgate.com, email sales@freightgate.com or call (714) 799-2833.

About Freightgate
Freightgate is the industry leading, SaaS-based Supply Chain Software Solutions provider for global shippers, forwarders and carriers trying to effectively manage the complex and demanding information flow in today's worldwide supply chain. Since 1994, Freightgate and its parent company have been providing solutions that are low cost, easy to implement and deploy on a global basis. The trust our customers have shown in Freightgate permits them to concentrate on their core business competency while Freightgate software products enable them control over their data on their terms.

Freightgate is ISO 9001:2000 certified. For additional information on Freightgate visit them on the web at www.freightgate.com, email sales@freightgate.com or call (714)799-2833.