What is Freight Auditing?
TMS Glossary
What is Freight Auditing?
Freight audit is the process of reviewing and verifying freight invoices to ensure accuracy and prevent overpayments. It helps businesses detect billing errors, validate carrier charges, and optimize freight spend.
Why is Freight Audit Important?
- Prevents Overcharges – Identifies discrepancies and eliminates incorrect fees.
- Enhances Cost Savings – Uncovers opportunities to optimize freight expenses.
- Improves Financial Accuracy – Ensures invoices align with agreed-upon rates and contracts.
- Boosts Operational Efficiency – Automates invoice verification, reducing manual work.
- Provides Greater Visibility – Centralizes freight cost data for better decision-making.
How Does Freight Audit Work?
Businesses use freight audit solutions to streamline invoice verification and financial control. These tools help to:
- Match freight invoices against shipment data and rate agreements.
- Detect errors, unauthorized fees, and duplicate charges.
- Automate approval workflows and payment processes.
- Generate detailed reports to track cost trends and savings.
- Integrate with TMS and financial systems for seamless operations.
Key Features of FreightPOP’s Freight Audit Solution
- Automated Invoice Auditing – Quickly verify accuracy and detect overcharges.
- Dispute Management – Flag discrepancies and manage dispute resolution with carriers.
- Rate & Contract Compliance – Ensure invoices align with negotiated rates and agreements.
- Multi-Carrier & Multi-Mode Support – Audit freight invoices across all shipping modes.
- Customizable Workflows – Tailor audit processes to match business needs.
- Comprehensive Reporting & Analytics – Gain insights into cost trends and performance.
- Seamless System Integration – Connect with TMS, ERP, and accounting software.
Learn more about FreightPOP's Automated Freight Auditing Tool
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