Reston, VA - Softeon announced the availability of its new Freight Audit and Payment (FAP) system, a solution that can reduce total freight spend and/or eliminate the need for expensive third-party freight audit firms. FAP from Softeon supports parcel, LTL and full truckload shipments, and can rate and audit freight bills across several dozen attributes and accessorials, performing a three-way match between a company's own shipment information, proof of delivery information, and the carrier's freight bill. Studies have found such errors and overcharges can represent 2-3% of a shipper’s total freight spend – dollars that can be recovered with the right tools. Shippers can also save the costs associated with using third-party audit firms. With FAP, companies can identify, document and report on all the overcharges, such as a parcel carrier missing its delivery commitment for a given class of service, a truckload carrier miscalculating accessorial charges, or an LTL carrier misclassifying freight. Advanced capabilities of Softeon's FAP include:
- Revenue and cost allocation to the SKU level to more accurately calculate cost of goods sold (COGS).
- Shipment tracking and customer service capabilities to measure carrier billing and delivery performance.
- Rich analytics such as detailed freight spend and volume analysis, plus a broad array of pre-packaged internal and carrier KPIs.
- A revenue margin management tool for 3PLs that enables then to monitor control buy-sell costs for freight and keep them within specified margin parameters.
For more information, please visit www.softeon.com.