Customer invoice management is a significant part of freight transportation management. Shipping and transportation services rely on accurate processing and monitoring of finances. For most shipping companies, this happens through a TMS platform that monitors customer invoicing and checks for errors and other issues.
Customer invoicing errors can occur at any time and come in many forms. Some may not directly impact profits and bottom lines. Many can, over time, add up to huge expenses and lost profits. According to Global Trade Magazine, “wrong freight bills appear in about 5-6% of invoices.” This can increase costs within routine transportation services.
What Are the Customer Invoicing Capabilities of a Transport Management System?
Cloud-based TMS systems can improve overall transportation management. A fully vetted and integrated TMS platform can achieve this in the following ways.
A World-Class TMS Unifies All Invoicing Needs
Automated Data Capture and Sharing With Other TMS Features
Cloud-Based Capabilities to Enable Anywhere, Anytime Access
Absolute Accuracy in Invoicing Generation and Management
Faster Time to Payment With Integrated, Digital Customer Invoicing
Another great TMS feature that helps freight invoice management is monitoring payments in real-time. Thanks to innovations within the TMS, digital invoices and automated notifications are possible. This allows team members to focus on other critical activities.
What Are the Benefits of an Integrated Customer Invoicing System?
Integrating technology tools in a TMS platform is a significant component of improving your customer invoice management. The capabilities of a transport management system in today’s modern supply chain environment provide powerful benefits:
- Better Connectivity Between all Involved Parties: Carriers and shippers, transportation management and team members, as well as brokers and customers, enjoy faster and more reliable communications with real-time connectivity.
- Greater Overall Productivity and Efficiency: Automated invoicing and monitoring allow team members to stay productive by letting TMS features and systems do the bulk of the work more effectively.
- Boosted Profit Margins and Lower Expenses: With improved end-to-end transparency and visibility into the supply chain, management achieves higher profits, lower expenses, and better overall marketability.
- Increased, Flexibility, Adaptability, and Scalability: A comprehensive TMS empowers your team to quickly and effectively respond to shifting market trends and consumer demands.
Tap the Value of the Right TMS Features With MercuryGate
The world of freight management is continuously evolving. Shippers need a singular platform that unifies the transportation process from shipment execution through financial settlement. MercuryGate makes that possible with a comprehensive series of capabilities and integrated systems to streamline all processes. Request a MercuryGate demo to see it in action today.